RNOR or NRI?
Guest
Number of days in India in FY 2023-24: 180
(Indian) business loss brought forward from FY 2022-23 to FY 2023-24: -20L
Profit from (Indian) business for FY 2023-24: 30L
My understanding of NRI status:
- Gone outside India for purpose of employment
- In India for less 182 days
- Total income from India less than 15L
My understanding of RNOR status:
- Gone outside India for purpose of employment
- In India for less 182 days
- Total income from India more than or equal to 15L
Is my understanding of NRI and RNOR status current?
Will my "Total Income" be 30L or 10L (30L - 20L offset from last years loss)?
You are resident of India for FY 2023-24.
Your understanding of NRI and RNOR is wrong.
Guest
Incase I didn’t explain properly, I want to add clarification points:
I went to Middle East on employment visa. I am employee of the company in the Middle East (i.e I receive monthly salary, have employment contract etc). But I am also one of the shareholder of that company.
Note: The business income I mentioned in India is stock market trading income which I was doing part-time before I moved out of India, and is unrelated to the company/business in the Middle East.
As you are resident of Middle East RNOR not applicable.
Guest
As an NRI, I found out that I can leave the FSI and FA blank.
But there are other fields in “PART A - General” regarding director and unlisted shares.
Do I need to declare if I am director/shareholder of a foreign unlisted company? Or can I leave those 2 questions blank?
Only Indian company director details to be filled.
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