12 January 2008
Mr.X is working in a foreign company. He goes on ship. He has been a NRI throughout. This time when he returns on leave he doesnt go back and eventually loses his NRI status. What are the consequences?
The residential status has to be calculated every financial year for taxability of any concern. In the present case if you calculate his residential status, you will get the answer for the same.
13 January 2008
i calculated his residential status.... he is resident in this year and previous yrs he was a non resident. So he is RNOR in this previous year. He has salary income from foreign shipping company. That wil not be taxable. What other income wil be taxable for him?
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