Point no 2 for determining the residential status?

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nikky (Querist)
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16 July 2019 I was going thru the way to determin residential status.

You are considered an Indian resident for a financial year:

i. When you are in India for at least 6 months (182 days to be exact) during the financial year

ii. You are in India for 2 months (60 days) for the year in the previous year and have lived for one whole year (365 days) in the last four years

Could somebody explain me point number 2 ? For whom this rule applies?

swasti

swasti (Expert)
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16 July 2019 Actually this time in the ITR, the residential status of an individual is also to be defined. Accordingly one has to pick an option why he is a Resident. Point No. 1 is very clear that if you remain in India during a financial year for 182 days or more, you are having a status of Resident.

Point No. 2 says that if you have gone abroad, but during any FY you are in India for 60 days AND 365 days in a period of 4 years prior to that Financial year, even then you are a Resident as per Income Tax Act 1961 and your global income would be taxed accordingly.

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