Hello,
I am an indian national residing in india. I have two different queries, I would be grateful to you if you could answer these for me:

1.)
Suppose I have short term capital gain of Rs 30000.00 from shares and my rest of the income for the year is 60000.00, shall I have to pay tax at the rate of 10 % of 30000.00 even if my total earnings (60000.00+30000.00) does not become taxable?
Also, what would be the effect if my rest of the income alone is 100000.00 (apart from short term capital gain of 30000.00 from shares) ?

2.)
I am working from my home in India (undertaking casual assignments of various types) for some foreign company located in foreign land such as USA or UK or any other countries and they are paying in their currency via bank transfer and my bank is crediting the account after converting into Indian Rupees.
What would be the tax implication? Is it taxable or not?
Or rebated?
Or, is such earnings treated as same as anything earned in India?

Thanks,
Priya Raj Acharya

Priya:

Sorry, these are questions under the Indian tax system.

This forum addresses U.S. tax issues.