NRI STATUS FOR SHIPPING COMPANY.

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Dipak Gulhane (Querist)
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19 July 2024 MY CLIENT IS WORKING IN MERCHANT SHIPPING FOR FOREIGN SHIPPING COMPANY OF FOREIGN COMPANY. HE LIVES IN INDIA BUT JUST JUST GO ON JOB WHEN COMPANY ASK FOR. HE RECEIVED SHIPPING SALARY+ BANK INTEREST IN NRE AC IN INDIAN BANK. HE ALSO HAVE OTHER INCOME LIKE NRO SAVING AC INTEREST & NORMAL SAVING BANK INTEREST & ALSO SOME EQUITY TRADING INCOME. HE WAS IN INDIA FOR 163 IN FY 23-24 & 703 DAYS FROM FY-20-21 TILL FY 23-24. HE DIDNT STAY IN ANY OTHER COUNTRY THAN INDIA OTHER THAN NORMAL SHIPPING JOB PURPOSE. NO ANY TAX IS DEDUCTED BY SHIPPING COMPANY FROM HIS SALARY. WHAT IS HIS RESIDENTIAL STATUS FOR ITR? ALSO WHAT TAX JURISDICTION AND TIN NUMBER NEEDS TO BE MENTIONED IN ITR? IS HIS SALARY & OTHER MENTIONED INCOME IS TAXABLE IN INDIA?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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20 July 2024 In such a case as he stayed in India for less than 182 days during the year he is NRI.
His salary income is not taxable in India.
But NRO interest and other savings bank interest and share trading income taxable in India.

Dipak Gulhane

Dipak Gulhane (Querist)
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21 July 2024 ALSO WHAT TAX JURISDICTION AND TIN NUMBER NEEDS TO BE MENTIONED IN ITR AS WE NEED TO FILL THEASE DETAILS IN ITR FOR NON RESIDENT ASSESSEE? I THINK TAX JURISDICTION : INDIA & TIN: PAN.....CORRECT ME IF WRONG.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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22 July 2024 Give tax jurisdiction of shipping company.
Reference to Budget 2020 Amendments, a Citizen of India can be determined Resident in India on the basis of stay in India for 120 days or more. However, there is a condition of Rs 15 Lakh Income in India (i.e. other than Foreign Ship Income).

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