Residential status for filling income tax returns in India
This query is : Resolved
13 November 2024
I along with my wife (both senior citizens of India by birth) moved to USA for permanent residence on Green Card at the end of Oct 2023. We are now on a visit to India since 8th July 2024 and will return to USA on 13th Dec 2024 and will not visit India again during the AY2025-26.
we were in India for 211 days (from 1April 2023 to 29th Oct 2023) in the financial year 2023-24 hence filed our returns for AY2024-25 as “Resident”
We will be staying in India for 158 days (from 8th July 2024 to 13th Dec 2024) in the financial year 2024-25.
We are filing Tax returns to IRS USA on global income as resident.
Grateful for advice what should be our status for returns to be filed for AY2025-26 in India.
we were in India for 211 days (from 1April 2023 to 29th Oct 2023) in the financial year 2023-24 hence filed our returns for AY2024-25 as “Resident”
We will be staying in India for 158 days (from 8th July 2024 to 13th Dec 2024) in the financial year 2024-25.
We are filing Tax returns to IRS USA on global income as resident.
Grateful for advice what should be our status for returns to be filed for AY2025-26 in India.
13 November 2024
Resident Indian as per sec. 6, IT act
15 November 2024
Does this mean our global income for AY2025-26 will be taxable in India? (and taxable in USA as well)
15 November 2024
Global income is assessed in Indian ITR, but you can get rebate of the taxes paid in foreign countries.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Errors in lTDS FORM 26 QB FILING FOR Last instalment payment FOR HOUSE PROPERTY PURCHASE
- TDS deposited by party after the filing of income tax returns
- Regarding Capital gain of NRI
- Reg Correction Form 15CB & 15CA
- Address Proof Required Gst Registration in UP
- Gstr9 fy23-24
- Foreign assets include NRE & FCNR deposits maintained in India ?
- RCM liability / ITC statement
- Purchase of Tractor for Agriculture Research Institute for Research farm ITC available - Reg.
- REGARDING PROPERTY TDS
- GSTR9 ITC AVAILED CLARIFICATION
- Gstr9 2023-24
- Wrong itc ingstr-3b coloum4-b-1
- Reclaim input disclose in annual return 23-24
- How to re-claim and offset the ITC in 3B rtn.
- How to determine Holding period of shares in the case of ( Listed shares)
- How to capital Gain in the case sale of shares after after right issue (STCG and LTCG)
- Capital in the case of sale of shares after Merger or Demerger
- Adjusted from Capital account
- AMT PAYABLE UNDER VIVAAD SE VISHWASH SCHEME 2024
Trending Online Classes
-
6 days Certification Course on GST Practical Return Filing Process
CA Pratibha Goyal16 December 2024
CAclubindia
