Mi Capital
Mi CAPITAL comprises of a team of experts who work together to serve clients on a broad range of Investment Banking and Corporate Finance issues and structured solutions.
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Al Abraj Street, Business Bay

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Residential status of an Indian citizen visiting India during the previous year

October/27/2021

Resident – Indian Citizen Visiting India during the previous year April 1st 2021 – March 31st 2022

Residential status To ascertain Resident or Non-Resident in India for a year- either one condition has to be satisfied
Condition A  Stayed in India for a period of 182 days or more in financial year   “Or”
Condition B Stayed in India for a period of 60 days or more in the year and for a period of 365 days or more in immediately preceding 4 years
Exception to Condition B (From the AY 21-22) if Indian income is more than 15 Lakhs Period of stay in the year is 120 days or more and for a period of 365 days or more in immediately preceding 4 years and the Indian Income is more than INR 15 Lakhs during the previous year
Exception to Condition B (From the AY 21-22) If Indian Income is less than 15 Lakh Period of stay in the year is 182 days or more and for a period of 365 days or more in immediately preceding 4 years and the Indian Income is less than INR 15 Lakhs during the previous year
If anyone (A& B & exception to B) of the conditions is satisfied – then Resident and then find our ordinary resident (ROR)or not ordinary resident (RNOR) using the following conditions
Condition A He is resident in India for at least 2 years out of 10 years immediately preceding the relevant year; or
Condition B His stay in India is for 730 days or more during 7 years immediately preceding the relevant year.
If any one of the conditions are satisfied, he will be an ordinary resident and all the incomes will be taxable, if none is satisfied, he will be Not ordinary Resident and only Indian income will be taxable.
Additional Deemed residential status (Resident but not ordinary resident) condition brought in from AY 2021-22 (not looking into number of days of stay during Previous year)
situation B (Sec6(1 A) an Indian Citizen earning total income in excess of Rs. 15 lakhs (other than from foreign sources) and is not liable to pay tax in any country he will be RNOR in India

 

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