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    Residentail Status

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    Rashmi Jayaprakash
    This document discusses the scope of total income and residential status of individuals, HUFs, firms, AOPs, BOIs, and companies in India for income tax purposes. It addresses whether a person or entity is considered a resident or non-resident based on the number of days spent in India and location of control and management. It also summarizes the types of income that are taxable in India based on an entity's residential status.

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    Residentail Status

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    Rashmi Jayaprakash
    42 views11 pages
    This document discusses the scope of total income and residential status of individuals, HUFs, firms, AOPs, BOIs, and companies in India for income tax purposes. It addresses whether a person or entity is considered a resident or non-resident based on the number of days spent in India and location of control and management. It also summarizes the types of income that are taxable in India based on an entity's residential status.

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    This document discusses the scope of total income and residential status of individuals, HUFs, firms, AOPs, BOIs, and companies in India for income tax purposes. It addresses whether a person or entity is considered a resident or non-resident based on the number of days spent in India and location of control and management. It also summarizes the types of income that are taxable in India based on an entity's residential status.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    42 views11 pages

    Residentail Status

    Uploaded by

    Rashmi Jayaprakash
    This document discusses the scope of total income and residential status of individuals, HUFs, firms, AOPs, BOIs, and companies in India for income tax purposes. It addresses whether a person or entity is considered a resident or non-resident based on the number of days spent in India and location of control and management. It also summarizes the types of income that are taxable in India based on an entity's residential status.

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    Attribution Non-Commercial (BY-NC)
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    You are on page 1of 11

    Scope of Total Income

    Total income can be computed with reference to residential status, during the previous year. Assessee can be Resident or Non- Resident in India. Individual/HUF can be Ordinary Resident / Not Ordinary Resident/ Non- Resident.

    Residential Status of Individual


    Individual can be Resident in India:If any one of the following two conditions are satisfied:1. He is in India for a period amounting in all to 182 days or more in the relevant previous year. OR 2.He is in India for 60 days or more during the relevant previous year and has been in India for 365 days or more during 4 previous years immediately preceding the relevant previous year.

    Individual can be Non-Resident in India:If none of the conditions mentioned above are satisfied.

    Residential Status of Individual


    Individual can be Resident in India:Exceptions to the above two conditions:1.In case of an individual, who is a citizen of India and who leaves India in any previous year for the purpose of employment or as a member of crew of an Indian Ship- condition no.2 shall not be applicable. 2. 1.In case of an individual, who is a citizen of India , being outside India comes on a visit to India in any previous year- condition no. 2 shall not be applicable.

    Residential Status of Individual


    Individual Resident and Ordinary Resident in India:If both the following two conditions are satisfied:1. He is resident in India for at least 2 out of10 previous years immediately preceding the relevant previous year. AND 2.He has been in India for 730 days or more during seven previous years immediately preceding the relevant previous year.

    Residential Status of Individual


    Individual Resident but Not-Ordinary Resident in India:If any of the following two conditions are satisfied ( or none of the following conditions are satisfied):1. He is resident in India for at least 2 out of10 previous years immediately preceding the relevant previous year. OR 2.He has been in India for 730 days or more during seven previous years immediately preceding the relevant previous year.

    Residential Status of HUF- Sec 6(2)


    HUF can be Resident in India:HUF is resident in India if the control and management of its affairs is situated wholly or partly in India during the relevant previous year. HUF can be Non-Resident in India:HUF is Non-resident in India if the control and management of its affairs is situated wholly outside India during the relevant previous year. Control and management refers to decisions taken regarding the affairs of HUF.

    Residential Status of HUF


    HUF Resident and Ordinary Resident in India:If Karta of HUF satisfies both the following two conditions :1. He(Karta) is resident in India for at least 2 out of10 previous years immediately preceding the relevant previous year. AND 2.He(Karta) has been in India for 730 days or more during seven previous years immediately preceding the relevant previous year.

    Residential Status of HUF


    HUF Resident but Not-Ordinary Resident in India:If any of the following two conditions are satisfied ( or none of the following conditions are satisfied) by Karta of the HUF :1. He(Karta) is resident in India for at least 2 out of10 previous years immediately preceding the relevant previous year. OR 2.He(Karta) has been in India for 730 days or more during seven previous years immediately preceding the relevant previous year.

    Residential Status of Firm/ AOP/ BOI


    Firm/ BOI/ AOP can be Resident in India:Firm/ BOI/ AOP is resident in India if the control and management of its affairs is situated wholly or partly in India during the relevant previous year. Firm/ BOI/ AOP can be Non-Resident in India:Firm/ BOI/ AOP is Non-resident in India if the control and management of its affairs is situated wholly outside India during the relevant previous year. Control and management refers to decisions taken regarding the affairs of the firm.

    Residential Status of Company


    Company can be Resident in India if:1. it is an Indian company OR 2.during the relevant previous year control and management of its affairs is situated wholly in India. Company can be Non-Resident in India if:1. it is not an Indian company OR 2.during the relevant previous year control and management of its affairs is situated wholly or partially in India. Control and management refers to controlling power. It is situated at a place where meetings of BOD are held.

    Incidence of Tax
    Sr. No. Particulars Resident & Ordinarily Resident yes yes yes Resident Non& Not Resident Ordinarily Resident yes yes yes yes yes yes

    1. 2. 3.

    Income recd. Or deemed to be recd. In India Income accrues or arises in India or deemed to accrue or arise in India Income accrues or arises outside India from business controlled from India

    4.

    Income accrues or arises outside India from any other source


    Income remitted to India in the P/Y

    yes

    no

    no

    5.

    no

    no

    no

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