Residency check for a Indian citizen employed full time in Singapore who visited India and stayed for 130 days and who earns only NRE interest of about 20 lakhs during the FY. I am a FEMA Non resident so I am eligible for NRE interest exemption.
under section 6 (Income tax act), which states for visiting indian citizens who were employed overseas , if they stay less than 182 days (and if their total income excluding foreign sources) is less than 15 lakhs, they qualify as NRI.. But if they stay over 120 days in India and earn above 15 lakhs then they are RONR...
My confusion is if the NRE interest should be included in the total income treshhold check of 15 lakhs to determine residency?...
The definition of Total income as per 2(45), the scope section 5 and section 10 ITA which mentions explictly that total income excludes exempt amount like NRE interest..but does it apply the same for residency check too (as per section 6?)
CAclubindia
