Non Resident Indians- Taxation and TDS
It is essential to know a NRI’s residential status for calculating his/ her tax liabilities because certain income of a NRI or a Resident but not ordinary resident (RNOR) is not taxable in India. Under section 6 (1) of income tax Act 1961, an individual is said to be resident if he/she satisfies at least one of the basic conditions. a. He/She is in India in the previous year for a period of 182 days or more. b. He/She is in India for a period of 60 days or more during the previous year and 365 days or more during […]