TAG Tax

Budget 2020 Unveiling Issues on International Taxation

1. Changes in rules relating to determination of ‘residence’ in India

The scope of income of a person liable to tax in India depends upon his residential status in a particular financial year. Indian Income Tax Act 1961 (the Act) recognizes three statuses, namely, Resident and Ordinarily resident’ (ROR), ‘Resident but not ordinarily resident’ (RNOR), and Non-resident (NR). If a person is ROR then his global income is taxable in India; if he is a RNOR then only his Indian income and any income from any business or profession outside India which is controlled from India is taxable in India; and for NRs only their Indian income is taxable in India.

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