Can i work for U.S company as independent contractor from India?

I am an indian citizen, i am working in US on L2 visa with EAD, my husband is on L1 visa. Now we are planning to go back to india. My U.S. company wants me to continue from india as an independent contractor . can I continue to work for a U.S. Company from india? If so, where will I be liable to pay my taxes- indian tax or U.S tax? U.S company should pay me in US or in Rs.If Rs.then can they do so leagally?