{"id":1341,"date":"2019-08-16T12:34:50","date_gmt":"2019-08-16T07:04:50","guid":{"rendered":"https:\/\/aktassociates.com\/blog\/?p=1341"},"modified":"2020-03-13T14:53:32","modified_gmt":"2020-03-13T09:23:32","slug":"nri-status-taxation","status":"publish","type":"post","link":"https:\/\/aktassociates.com\/blog\/nri-status-taxation\/","title":{"rendered":"Residential Status of a Non-Resident Indian (NRI) and Tax Incidence in India"},"content":{"rendered":"

For Income Tax purpose in India, the taxability of income of any person depends on the person\u2019s residential status. To levy a tax on any income, the residential status of the person needs to be determined. On the basis of the residential status, the income of the person shall be taxable.\u00a0<\/span><\/p>\n

In case of an individual: If the person is a resident and ordinary resident then his income, whether received or accrued in India or outside India, shall be taxable.\u00a0<\/span><\/p>\n

In Case of a Non-Resident Indian (NRI), only the income which accrues or arises to him in India shall be taxable.\u00a0<\/span><\/p>\n

For a Resident but Not Ordinary Resident (RNOR), income which accrues or is received outside India from a business not controlled from India or a profession not setup in India shall not be taxable.\u00a0<\/span><\/p>\n

The residential status in case of individuals is determined on the basis of a number of days of his stay in India, whereas in case of HUF<\/a>\/Firms and Companies residential status is determined on the basis of the location from where the control and management of affairs are carried out.<\/strong><\/p>\n

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