New NRI tax regulations in India - Here are the essential details.

According to Indian income tax legislation, a person's residency status is established based

It is significant to highlight that each year's residence status must be determined from scratch.

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A person's eligibility as a resident or non-resident (NR) depends on whether they meet any of the fundamental

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A person is considered a resident if they have been physically present in India for at least 182 days

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Alternatively, they will also qualify as a resident if they are physically present in India for at least 365 days

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Additionally, there is a presumed residence criterion that is applicable to Indian residents

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more than $15 lakh in total income during the relevant FY, excluding income from overseas sources.

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For tax reasons, a person will be regarded as a resident if they are not subject to taxation in any other nation

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