What's your Residential status & Pay TAX


(Guest)

 

Residential status determines Taxability of Income

An individual is taxed based on his residential status in India. The residential status, in turn, is determined based on the physical stay of an individual in the relevant financial year (tax year) as well as preceding ten tax years.

 

This is particularly relevant in respect of Indians working overseas or having income/income earning assets outside India.

 

Full article on www.forum4finance.com