Taxability in India depends on the following factors:
(a) Source of income
(b) Residential status
Typically, source of income lies where the services are performed, or where the asset, from which the income arises, is located. Residential status in India is determined based on your physical presence in India in the current financial year (FY) (1 April to 31 March) and preceding 10 FYs. If the individual satisfies any of the basic conditions mentioned below, he would qualify as a resident, otherwise he would qualify as a non-resident (NR):
Read the details to a tax query in Mint
(a) Source of income
(b) Residential status
Typically, source of income lies where the services are performed, or where the asset, from which the income arises, is located. Residential status in India is determined based on your physical presence in India in the current financial year (FY) (1 April to 31 March) and preceding 10 FYs. If the individual satisfies any of the basic conditions mentioned below, he would qualify as a resident, otherwise he would qualify as a non-resident (NR):
Read the details to a tax query in Mint
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