Write down scope of total income on the basis of Residential Status.
Answers
Residential Status & scope of total Income:-
Residential Status of an Individual (Sec 6(1) -An individual is resident in India if he satisfies any one of the following two conditions: i. He is in India for 182 days or more in the relevant previous year or ii. He is in India for 60 days or more during the relevant previous year and for 365 days or more during 4 years immediately preceding the previous year.
Scope of Total Income/ Incidence of Tax [Sec 5) :--
Scope of total income is according to residential status of assessee.
1. Resident in India/ ordinarily resident in India
A person is assessable to tax in respect of income which
i. Is received or deemed to be received in India by him or on his behalf
ii. Accrues or arises or deemed to accrue or arise to him in India
iii. Accrues or arises to him outside India
2. Resident but not ordinarily resident in India
A person is assessable to tax in respect of income which
i. Is received or deemed to be received in India by him or on his behalf
ii. Accrues or arises or deemed to accrue or arise to him in India
iii. Accrues or arises to him outside India from a business controlled in or profession set up in India.
3. Non-resident in India
A person is assessable to tax in respect of income which
i. Is received or deemed to be received in India by him or on his behalf
ii. Accrues or arises or deemed to accrue or arise to him in India.
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