TAXABILITY OF NRI INCOME
This query is : Resolved
19 November 2009
IT APPEARS THAT A PERSON RESIDING OUTSIDE INDIA FOR MORE THAN 182 DAYS COMES UNDER THE CATAGORY OF NRI.
I WANT TO KNOW THE INCOME TAX ACT/INCOME TAX RULES WHICH SPECIFICALLY RELATED TO CHARGEBILITY/EXEMPTION OF NRI INCOME IN INDIA.
COMMENTS/DETAILS REGARDING ABOVE SUBJECT IS REQUESTED.
I WANT TO KNOW THE INCOME TAX ACT/INCOME TAX RULES WHICH SPECIFICALLY RELATED TO CHARGEBILITY/EXEMPTION OF NRI INCOME IN INDIA.
COMMENTS/DETAILS REGARDING ABOVE SUBJECT IS REQUESTED.
19 November 2009
Refer to Chapter II, Section 5. Only income deemed to accrue or arise in India or received in India is chargeable to the Non Resident.
It is also clear that if your income as NRI accrued abroad, bring the fund to India does not make it taxable at anytime, even if you return to India and bring back funds upon becoming resident again.
It is also clear that if your income as NRI accrued abroad, bring the fund to India does not make it taxable at anytime, even if you return to India and bring back funds upon becoming resident again.
20 November 2009
Hi, it is nowhere given in the income tax that if a person resides outside India for more than 182 days then he is NRI. what if he stays outside for 183 days? in that case his stay in India would be 182 day (except leap year) and he will become resident in India. section 6(1) defines the term resident. If a person is not resident in India then he is considered as NRI. for taxability you can refer to section 5 . Thanks and regards
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