resident status
7 months ago
in the tax year 2022-2023 I was out of india for more than 180 days. this year i started the year outside of india, and came back to visit india and have stayed here for more than 60 days but will leave before it reaches 180 days. is there any way I would be counted as a resident of India?
A.Dear Client,
I would like to inform you that determining your residency status for tax purposes in India is governed by the Income Tax Act, 1961. As per the Act, an individual's residency status is determined based on the number of days spent in India during a financial year (not the calendar year) and certain additional criteria.
To determine your residency status, you need to consider the following criteria as per Section 6 of the Income Tax Act:
1. Resident Indian: If an individual is present in India for at least 182 days or more during the relevant financial year, or if an individual is present in India for at least 60 days or more during the relevant financial year and for at least 365 days or more during the four financial years immediately preceding the relevant financial year, they will qualify as a resident of India for tax purposes.
2. Non-Resident Indian (NRI): An individual who does not meet either of the above criteria will be considered a non-resident of India for tax purposes.
Based on the information provided, as you will be staying in India for more than 60 days but less than 180 days during the tax year 2022-2023, you may not meet the criteria to be classified as a resident of India. However, it is important to note that additional factors such as the nature of your employment, primary residence, and other ties to India may also be considered in determining your residency status.
To accurately determine your residency status and the applicable tax liabilities, it is advisable to consult with a qualified tax professional who can assess your specific situation and provide personalized advice based on the provisions of the Income Tax Act and relevant tax treaties, if applicable.
Thank you
I would like to inform you that determining your residency status for tax purposes in India is governed by the Income Tax Act, 1961. As per the Act, an individual's residency status is determined based on the number of days spent in India during a financial year (not the calendar year) and certain additional criteria.
To determine your residency status, you need to consider the following criteria as per Section 6 of the Income Tax Act:
1. Resident Indian: If an individual is present in India for at least 182 days or more during the relevant financial year, or if an individual is present in India for at least 60 days or more during the relevant financial year and for at least 365 days or more during the four financial years immediately preceding the relevant financial year, they will qualify as a resident of India for tax purposes.
2. Non-Resident Indian (NRI): An individual who does not meet either of the above criteria will be considered a non-resident of India for tax purposes.
Based on the information provided, as you will be staying in India for more than 60 days but less than 180 days during the tax year 2022-2023, you may not meet the criteria to be classified as a resident of India. However, it is important to note that additional factors such as the nature of your employment, primary residence, and other ties to India may also be considered in determining your residency status.
To accurately determine your residency status and the applicable tax liabilities, it is advisable to consult with a qualified tax professional who can assess your specific situation and provide personalized advice based on the provisions of the Income Tax Act and relevant tax treaties, if applicable.
Thank you
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