RNOR or NRI?

This query is : Resolved

Guest

Guest (Querist)

06 June 2024 I moved to Middle East last year where I started a company and was an employee of that company.

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)?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

07 June 2024 You can't be employee of your own company. You have gone Middle East for business.
You are resident of India for FY 2023-24.

Your understanding of NRI and RNOR is wrong.

Guest

Guest (Querist)

07 June 2024 Thanks for the response.

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.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

07 June 2024 In such a case you are NRI.
As you are resident of Middle East RNOR not applicable.

Message likes : 1 times

Guest

Guest (Querist)

07 June 2024 Thanks for the clarification.

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?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

07 June 2024 Leave it, as you are not a director of Indian company.
Only Indian company director details to be filled.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

SHRI HARIRAO

damodara rao tedla

ashvini tripathi

Yash

Choudhary

Subscribe Now

RNOR or NRI?

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

Manager- Finance and Compliance

GST CONSULTANCY

CA Final

GST CONSULTANT

Senior Executive