Resident Status

Tax planning 1099 views 5 replies

Hi Friends,

I want to know the implications to get the NRI Status.I am working abroad,I came out of india very first time in my life on 15th March,2007,due to employment in a company,I was in india during following period.

Financial Year                    Period From          Period To

2006-07                               01/04/2006            14/03/2007

2007-08                               19/09/2007             28/10/2007

2008-09                               05/05/2008              27/07/2008

So, Can anyone help me out? During Financial year 2006-07,2007-08,2008-09, what will be my Residential Status as per Income tax Act, 1962. During Financial year 2007-08  I visited india officially in the month of May, 2007, i.e 01/05/2007 to 05/05/2007.

Regards,

Anurag

Replies (5)

hi

For 2006-07 your period of stay in India is for more that 182 days hence you are resident.

For 2007-08 your period of stay in India is 44 days so your are Not Oridinarily Resident.

For 2008-09 your period of stay in for more that 60 days and you satisfy the ofther conditiosn also so you are Resident.

bye

take care

Hi,

For FY 2006-07 You satisfy both the basic conditions hence you are resident in India.

In addition to it both the additional conditions are also satisfied, hence you are ordinary resident in that particular year.

For FY 2007-08 You have been in india for 45 days, none of the basic condition is satisfied, hence you are non resident in India.

For FY 2008-09, it will depend on the period of stay.

Regards,

Rashi Goyal

Hi Richa,

Can you explain me,why there is contradictory? which one is correct answer?

Regards,

hi

if a person stays for more than 182 days then he will be treated as Resident .

For 2007-08 though i had computed the correct no. of days but i had wrongly applied the provision for 2007-08 he will be non resident.

For 2008-09 the period of stay is more than 60 days hence Resident.

bye

take care

 

Hi Richa,

Thanx for your support,

Regards,

Anurag Kalra

Chartered Accountant

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