Compliance Advisor
629 Points
Posted on 08 May 2015
Dear Sir
If your Residential status is R-OR than income accrued or Arise worldwide will be taxed in India.
Meaning of "R-OR"
As per section 6(1) of income tax act 1961
(a) If he/she is in India in Previous Year for a period of 182 Days or More
OR
(b) And he/she is in India for a period of 365 days within 4 yrs immediately preceding the assessment year.
As per section 6(6) of income tax act 1961
(a) A person who has been resident 2 times out of 10 yrs immediately preceding the previous year
And
(b) Has been in India for a Period of 730 days during the 7 yrs immediately preceding the previous year
- If a person stisfy both the conditions above mentioned than income earned worldwide will be taxed in India
- If a person stify only first condition than Income earned outside India shall not be taxed in India.