Do i need to pay tax on per diem if I don't deposit in savings account?

Hi Sir,

I have a one question with regards to tax saving on Per Diem saved. Let’s say after 3 months of On-site assignment I save around $2000 on my forex card and then encash the same in INR with my concerned bank in India. Now if I don’t deposit the cash back to my savings bank account then still do I need to pay tax on the saved amount. Or is this a way I can save tax on saved Per Diem amount?

Thanks,
Vaibhav

I think you already know the golden rule in India. Don’t you?

Cash income, if not declared is called ‘black money’ and offcourse you can evade income on it if you don’t declare it.

If you declare it and deposit in bank, it becomes white and you should pay income tax on it to be on safe side.

Your choice.

Got your point. Thanks a lot … Also I guess my company deducts tax on remaining amount once I submit the card to them.