Income tax

Residence And Tax Liability YOGESH SINGLA

INTRODUCTION ,[object Object],[object Object],YOGESH SINGLA

Different residential status: YOGESH SINGLA Resident Ordinarily resident Not-ordinarily resident Non-resident

Important points for deciding residential status: ,[object Object],[object Object],YOGESH SINGLA

[object Object],[object Object],YOGESH SINGLA

How to determine residential status of an individual YOGESH SINGLA

YOGESH SINGLA Step 1 First find out whether such individual is “Resident” in India Step 2 If such individual is “Resident” in India, then find out whether he is “ordinarily resident” in India. However, if such individual is a “Non-resident” in India, then no further investigation is necessary

BASIC CONDITIONS sec.(6) ,[object Object],[object Object],YOGESH SINGLA

Explanation of the above basic condition of 60 days in India ,[object Object],[object Object],YOGESH SINGLA

Additional conditions [sec. 6(6)(a)] to test as to when a resident individual is ordinarily resident in India ,[object Object],[object Object],YOGESH SINGLA

CONDITIONS TO TEST AS TO WHEN A INDIVIDUAL IS A RESIDENT IN INDIA ,[object Object],YOGESH SINGLA

CONDITIONS TO TEST AS TO WHEN A INDIVIDUAL IS NOT ORDINARILY RESIDENT ,[object Object],YOGESH SINGLA

CONDITIONS TO TEST AS TO WHEN A INDIVIDUAL IS NON-RESIDENT ,[object Object],YOGESH SINGLA

YOGESH SINGLA Particulars Ordinarily Resident Not ordinarily resident Non resident a). Income due and received in India. Y Y Y b). Income due in India but received outside in India or income due outside India but received in India Y Y Y c). Income of a business outside India which was controlled from India. Y Y N d). Income due and received outside India. Y N N e). Past untaxed income brought to India. N N N

EXCEPTIONS ,[object Object],[object Object],[object Object],YOGESH SINGLA

Plan Ahead! Have A Non ‘Tax’ing Year!! YOGESH SINGLA

Income tax

Income tax

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Income tax