I am sailing on foreign ship from last 2 years but this year the period of stay from out of India is only for 125 days then the income earned from foreign vessel for A.Y 2020-21 is taxable or not??
Replies (3)
Quick Summary
This discussion explores whether income earned from a foreign vessel is taxable in India for an individual who has spent 125 days outside India in the relevant financial year. The taxability hinges on the individual's residential status in India, which is determined by their days of stay in the country over preceding years. Based on the provided stay days, the individual is likely considered a resident and therefore liable for Indian taxes on their foreign earnings.
I am not the owner of the vessel. I am earning salary and my Period of stay in India in following F.Y.are as follows;- 16-17 107 days 17-18 210 days 18-19 184 days 19-20 116 days
Though period of stay in the FY/PY -other conditions are satisfied.On an average you stay in India in FY is above 60days and more than 365days in 4 years immediately preceding FY. So you will be resident and you need to pay tax in India.
This answer may change in the following situations:
Further you need to check out if you are a crew member of a foreign going vessel..
Residential status for person taking employment outside India
Leave a Reply
Your are not logged in . Please login to post replies