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NRI OR INDIAN

Others 148 views 3 replies

Hello Everyone,

Am I Indian or NRI? (in regards to accounting and income tax)

I was born and stayed in India for over 37 years.  I am a  Indian Citizen.

On 10 Jan 2020 , I came to USA, and I am presently residing & working in USA. 

Before coming to USA, I only stayed in India all my life. 

However in 2007 & 2015 I went for a foreign holiday for 5-6 days only to south east asia.  

For all these year, I have simple savings account and current account in India, and used to file my income tax returns as resident indian and firm accounts.

Am I NRI or Indian now ?
What should I do now ?


Please advise and guide if possible ?

Regards
 

Replies (3)

In simple terms, an Indian citizen residing outside India for a combined total of at least 183 days in a financial year is considered to be an NRINRIs are eligible to vote, and most importantly, only the income that they have earned in India is taxable in India.

For tax purposes you will be resident in India for AY 20-21
In current FY 2020-21 u are NRI as on 10.10.2020


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