NRI status and tax
This query is : Resolved
25 July 2024
An Indian citizen (student) was in India till 8 Sep ~ 160 days in India. (never been out of India before)
And then left to UK for studies and haven't came back to India in the FY 23-24.
1- What is the status of the assessee (Resident, RNOR or NRI)?
2- He started a part time job with studies from Oct 2023 and received some money in his UK bank account. Is this amount taxable in India?
*The Assessee does not have any income from India except Rs. 21,000 interest received on FD.
And then left to UK for studies and haven't came back to India in the FY 23-24.
1- What is the status of the assessee (Resident, RNOR or NRI)?
2- He started a part time job with studies from Oct 2023 and received some money in his UK bank account. Is this amount taxable in India?
*The Assessee does not have any income from India except Rs. 21,000 interest received on FD.
26 July 2024
1. He is Resident Indian
2. Taxable in India. Can get rebate for any tax paid in UK.
2. Taxable in India. Can get rebate for any tax paid in UK.
26 July 2024
As he remained in India for less than 180 days (only for 160 days)..
Does this fact affect his residential status
Does this fact affect his residential status
26 July 2024
He is resident, as he remained in India for more than 365 days in preceding Four years.
Sec 6 IT act...
Second Criteria – 60 days or more in that Previous Year AND 365 days or more in Preceding 4 years.
Sec 6 IT act...
Second Criteria – 60 days or more in that Previous Year AND 365 days or more in Preceding 4 years.
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