Amazing Residential Status Calculator !

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Are you resident or non resident? That is what will be computed by the residential calculator . As per Income Tax Act , the first thing for deciding your tax liability is to find whether you are resident or non resident in India in a previous year ( financial year) .You must be aware that the residential status law is provided under section 6 of the Income Tax Act . Simple rule of taxation as per section 5 which defines total income is as under :

  • If you are resident , your global income is to be include in total income for charging tax.
  • If  you are non resident , only income accrued or arisen or received in India is tax able under Income Tax Act.:

There are other conditions -like visit to India or going abroad for employment-  creates problem to find  out the residency of an assessee. So , a calculator to find out the residency of an Individual is created. Readers should note that a detailed FAQ  on residency aspect of an assessee was put with title Tax Residency in India Simplified For You ! .

Watch the Video on Residential Calculator

About Prashant Thakur
The author has spent twenty years with Income Tax department and desire to service common citizen of India which include professionals like tax practioners ,CA,ICMA, CS and tax lawyers by advising them on the direct tax matters for a very affordable fee.

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