Podcast
Questions and Answers
What is the minimum number of days an individual must stay in India during the financial year to be considered a resident?
What is the minimum number of days an individual must stay in India during the financial year to be considered a resident?
For an individual living abroad but visiting India frequently, how many days should they stay in India during the financial year to be considered a resident?
For an individual living abroad but visiting India frequently, how many days should they stay in India during the financial year to be considered a resident?
In addition to the days stayed in India, what is another condition for an individual to be considered a resident if they earn more than ₹15,00,000?
In addition to the days stayed in India, what is another condition for an individual to be considered a resident if they earn more than ₹15,00,000?
What income threshold must be met for deemed residency in India?
What income threshold must be met for deemed residency in India?
Signup and view all the answers
In addition to the income earned, what else can lead to being classified as a deemed resident of India?
In addition to the income earned, what else can lead to being classified as a deemed resident of India?
Signup and view all the answers
Who should differentiate between being a Resident Not Ordinary Resident (RNOR) and an ordinary resident?
Who should differentiate between being a Resident Not Ordinary Resident (RNOR) and an ordinary resident?
Signup and view all the answers
What are the different categories of residential statuses in India for taxation purposes?
What are the different categories of residential statuses in India for taxation purposes?
Signup and view all the answers
How is an individual classified as an Indian Resident for tax purposes?
How is an individual classified as an Indian Resident for tax purposes?
Signup and view all the answers
In the context of tax residency, what is the significance of staying in India for at least 60 days in the relevant financial year?
In the context of tax residency, what is the significance of staying in India for at least 60 days in the relevant financial year?
Signup and view all the answers
Which category does an Indian citizen who leaves the country for employment purposes fall under in terms of residential status?
Which category does an Indian citizen who leaves the country for employment purposes fall under in terms of residential status?
Signup and view all the answers
What conditions must be fulfilled for an individual to be considered an Indian Resident?
What conditions must be fulfilled for an individual to be considered an Indian Resident?
Signup and view all the answers
What is the purpose of determining residential status and incidence of tax for a financial year?
What is the purpose of determining residential status and incidence of tax for a financial year?
Signup and view all the answers
What is the criteria for an individual to be considered as Resident and Ordinarily Resident (ROR) for tax purposes?
What is the criteria for an individual to be considered as Resident and Ordinarily Resident (ROR) for tax purposes?
Signup and view all the answers
What is the residential status of an individual who has resided in India for 600 days in the immediate previous year?
What is the residential status of an individual who has resided in India for 600 days in the immediate previous year?
Signup and view all the answers
Under what conditions is an individual classified as Non-Resident (NR) for tax purposes?
Under what conditions is an individual classified as Non-Resident (NR) for tax purposes?
Signup and view all the answers
Which type of income is taxable for a Resident and Ordinarily Resident (ROR)?
Which type of income is taxable for a Resident and Ordinarily Resident (ROR)?
Signup and view all the answers
If an individual earns income which accrues or arises outside India and is received outside India from any other source, which residential status category would apply?
If an individual earns income which accrues or arises outside India and is received outside India from any other source, which residential status category would apply?
Signup and view all the answers
Is a taxpayer who doesn't fulfill the conditions to be classified as a Resident or Resident Not Ordinarily Resident considered as:
Is a taxpayer who doesn't fulfill the conditions to be classified as a Resident or Resident Not Ordinarily Resident considered as:
Signup and view all the answers
