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    CTP - Residential Status & Scope of Income

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    ankushdeshmukh
    The document outlines the definitions of resident, non-resident, and not ordinarily resident for individual taxpayers, HUF/firm/AOP, and companies based on the number of days spent in India. It also describes the scope of income that is taxable in India for residents, non-residents, and residents but not ordinarily residents based on where the income is received, accrued, or arises. Residents are taxed on worldwide income while non-residents and residents but not ordinarily residents are taxed only on income connected to India.

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    CTP - Residential Status & Scope of Income

    Uploaded by

    ankushdeshmukh
    48 views7 pages
    The document outlines the definitions of resident, non-resident, and not ordinarily resident for individual taxpayers, HUF/firm/AOP, and companies based on the number of days spent in India. It also describes the scope of income that is taxable in India for residents, non-residents, and residents but not ordinarily residents based on where the income is received, accrued, or arises. Residents are taxed on worldwide income while non-residents and residents but not ordinarily residents are taxed only on income connected to India.

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    1. CTP - Residential Status & Scope of Income

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    The document outlines the definitions of resident, non-resident, and not ordinarily resident for individual taxpayers, HUF/firm/AOP, and companies based on the number of days spent in India. It also describes the scope of income that is taxable in India for residents, non-residents, and residents but not ordinarily residents based on where the income is received, accrued, or arises. Residents are taxed on worldwide income while non-residents and residents but not ordinarily residents are taxed only on income connected to India.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    48 views7 pages

    CTP - Residential Status & Scope of Income

    Uploaded by

    ankushdeshmukh
    The document outlines the definitions of resident, non-resident, and not ordinarily resident for individual taxpayers, HUF/firm/AOP, and companies based on the number of days spent in India. It also describes the scope of income that is taxable in India for residents, non-residents, and residents but not ordinarily residents based on where the income is received, accrued, or arises. Residents are taxed on worldwide income while non-residents and residents but not ordinarily residents are taxed only on income connected to India.

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    You are on page 1of 7

    Residential Status &

    Scope of Income

    Manish B Tardeja
    WHO IS A ‘RESIDENT’ FOR TAX
    PURPOSES
    INDIVIDUAL
    Basic Conditions
     An individual is considered as a ‘resident’ if
    he is
     in India for 182 days or more in a previous year
    OR
     in India for 365 days or more in 4 years
    immediately preceding a previous year and 60 days
    or more in a previous year .
    Exception:
    A citizen of India, who leaves India in any
    year for employment or as a member of
    the crew of an Indian ship or who is
    abroad and comes on a visit to India, in the
    previous year, is treated as a resident in
    that year, if he has been in India for 182
    days or more. The second condition in b)
    above, is not functional in such cases.
    An individual is considered as ‘not
    ordinarily resident’ if he is
    Additional Conditions
    a non-resident for 9 out of 10 previous years in the
    immediately preceding previous years

    OR
     
    has been in India for a period of 729 days or less in the
    seven preceding previous years.

    An individual is considered as ‘non-resident’ if he does not


    satisfy either of the basic conditions mentioned above.
    HUF/FIRM/AOP
    It is said to be ‘resident’ in any previous
    year if it is wholly or partially controlled or
    managed from India; i.e., it would be a
    ‘non-resident’ if control or management is
    wholly outside India.
    COMPANY
    Company is said to be ‘resident’ in India in
    previous year if
    It is an Indian Company “OR”
    Management and Control is situated
    wholly in India
    SCOPE OF INCOME
    Residential Status Income Chargeable to tax in India
    Resident World income liable for tax in India

    Non-resident  Income which accrues or arises or deemed to


    accrue or arise in India and

     Income received or deemed to be received in India


    is liable to be taxed in India

    Resident but Not  Income received or deemed to be received in India


    ordinary resident and

    Income accruing or arising or deemed to accrue or


    arise in India and

    Income accruing or arising outside India from


    business controlled in India or profession set up in
    India will be liable to be taxed in India.

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