Your residential status is important while filing returns, here is various residential status: -
+ Resident: - Someone is considered as ‘Resident’ if he/she satisfies the following conditions: -
Basic conditions: -
- If a person is in India for minimum 182 days during a particular Financial Year
- If a person is in India for 60 days during a particular Financial Year andstays in India for at least 365 days during the last 4 Financial Years.
Resident Individuals are further divided into following 2 categories:
Ordinary Resident: - Person shall be treated as ‘Ordinary Resident’ if he/she satisfies both the Conditions.
Conditions-
- If a person is resident of India for any 2 out of last 10 Financial Years
- If a person is in India for minimum 730 days during the last 7 Financial Years.
Not Ordinary Resident: - If any of the additional conditions specified above are not satisfied by the taxpayer, then that person is considered as ‘Not Ordinary Resident’ for the Financial Year.
Non-Resident: - If the taxpayer doesn’t satisfy any of the basic conditions then the person is treated as ‘Non-Resident’ for the Financial Year.
Taxability of Income in India, according to your Residential Status-
|
Particulars |
Ordinary Resident |
Not Ordinary Resident |
Non-Resident |
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|
Income received in India |
Taxable |
Taxable |
Taxable |
|
|
Income arise in India and received in India |
Taxable |
Taxable |
Taxable |
|
|
Income arise outside India but received in India |
Taxable |
Taxable |
Taxable |
|
|
4. Income arise outside India and received outside India |
Taxable |
Taxable |
Not taxable |
|
|
Foreign Business income where business is controlled from India Foreign Professional Income where Profession is set up in India |
Taxable |
Not taxable |
Not taxable |
|
|
Any Other Foreign income |
Taxable |
Not taxable |
Not taxable |
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