Income Tax : An assessee's tax incidence is determined by his residential status. For example, an individual's residential status in India dete...
Income Tax : Learn how residential status affects tax liability under the Income Tax Act, 1961. Understand ROR, RNOR, and NR classifications an...
Income Tax : Understand the differences in residential status under the Income Tax Act and FEMA for Indians working abroad. Know tax implicatio...
Income Tax : Learn how to determine the residential status for individual taxpayers in India under Income Tax Act 1961, including ROR, RNOR, an...
Income Tax : Learn how residential status affects income tax liability in India. Understand the classifications and criteria for residents and ...
Income Tax : Section 5- Scope of income – Income Tax Act, 1961 5. [1] the total income of any previous year of a person who is a resident...
Income Tax : Following is the summary of Suggestion /representation on behalf of the taxpayers/professionals in connection with the Direct tax ...
Income Tax : Mumbai ITAT rules in favor of assessee in residential status dispute. Case details of ACIT vs. Nishant Kanodia for AY 2013-14. Com...
Income Tax : ITAT Delhi held that Tax Residency Certificate (TRC) is statutorily the only evidence required to be eligible for the benefit unde...
Income Tax : Narayanan Subramaniam Vs ACIT (ITAT Delhi) Controversy involved is primarily with regard to question if the assessee had non-res...
Income Tax : Explore the residency dispute in Smt. Kamla vs Hindustan Petroleum Corp. Detailed analysis of the court view on residency criteria...
Income Tax : OECD as well as most of the countries have clarified that in view of the provisions of the domestic income tax law read with the D...
Narayanan Subramaniam Vs ACIT (ITAT Delhi) Controversy involved is primarily with regard to question if the assessee had non-residential status for the relevant Assessment Year 2017-18 and the ld AO had held it against the assessee on the basis that his stay for more than 180 days abroad was not supported by any evidence including […]
NRI taxation under the Indian Income Tax Act, of 1961 applies to those earning income outside the home country. The income tax rules and perks allowed to them are drastically different from those applicable to resident Indians.
Residence and tax liability are two concepts that are intrinsically linked in the world of taxation. As a resident of a country, you are generally liable to pay taxes on your worldwide income, while non-residents are typically only required to pay taxes on the income they earn within that country’s borders. In this article, we will delve deeper into the concept of residence and how it affects your tax liability.
The provision relating to Residential Status in India is governed by Section 6 of Income Tax Act, 1961. Necessity to determine residential status is significant to determine total income of taxpayers in India. Generally, taxpayers are classified as Residents or Non-Residents.
Understand what determines an individuals residential status under FEMA & Income Tax with relevant Indian laws & regulations. Discover NRIs significant contribution to Indian economy, inward remittances & transfer of technology.
Do you know, there are two principles to tax income. One is Residence Based Taxation and other is Source Based Taxation. As per Residence based Taxation, the country taxes persons based on their residential status.
Explore the impact of residence status on taxation for Indian citizens abroad, NRIs, PIOs, and OCIs. Understand the rules, exemptions, and tax implications.
Many non-resident Indians (NRIs) came to India just as COVID-19 had started to spread and were stuck in India for a longer period. The main concern after the pandemic was regarding the treatment of their tax liabilities. However, the government has come up with various rules about the residential status of these people. Benefits In […]
As the name suggests, short stay exemption is leeway given to resident individuals staying for short term in overseas country. Short stay exemption is available to an individual being resident of a country, staying in overseas country for less than 183/90 days during a tax year.
Explore the significance of Section 6 in the Income Tax Act, 1961, shedding light on the determination of an individuals residential status in India. Understand the tax implications and recent amendments by Finance Acts 2021 & 2022.
