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Tax Planning
What determines the residential status of an individual for income tax purposes in India?
Residential status is determined based on the number of days spent in India during the financial year, as per the Income Tax Act.
For an Indian citizen leaving India for employment abroad, what is the minimum number of days of stay in India required to qualify as a resident under the basic condition?
182 days (the 60-day limb is replaced by 182 days for such citizens)
When does an individual qualify as a Resident and Ordinarily Resident (ROR) in India?
An individual is ROR if they have been a resident in India for at least 2 out of 10 preceding years and have stayed in India for 730 days or more in the 7 preceding years.
What is the income threshold above which the 'deemed resident' status applies to an Indian citizen not taxable elsewhere?
Indian income above Rs. 15 lakh
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