Costing and Taxation · Ch 4 — Residential Status and Incidence of Tax (Individual)
Terms Introduced in the Chapter
Terms Introduced in the Chapter
This section collects, in one place, every term, test and classification rule introduced in this chapter, for quick re …
The classification (Resident and Ordinarily Resident / Resident but Not Ordinarily Resident / Non-Resident) that fixes how much of an individual's income is taxable in India for a previous year; determined afresh e …
(a) present in India 182 days or more in the previous year, OR (b) present 60 days or more in the previous year AND 365 days or more in the preceding 4 years. Either one satisfied = …
For an Indian citizen leaving India for employment/as ship's crew, or an Indian citizen/PIO visiting India, condition (b)'s 60-day limb i …
(i) resident in India in at least 2 of the preceding 10 previous years, AND (ii) present in India for 730 days or more in the preceding 7 previous years. Applied only to a per …
A Resident individual who satisfies BOTH additional conditions; taxed on global (Indian + …
A Resident individual who fails one or both additional conditions; taxed on Indian income plus foreign income only from a business controlled from India or a …
An individual who fails BOTH basic conditions under Section 6(1); taxed only on income received or accruing (or deemed to) in India — foreign income is never taxable, ev …
The scope of an individual's Total Income actually chargeable to tax in India, fixed by their residential status f …