What are the tax implications of being a Resident and Ordinarily Resident (ROR) under the Income Tax Act?

Individuals classified as Resident and Ordinarily Resident (ROR) are liable to pay tax in India on their global income, i.e., income earned in India as well as income accrued or received outside India. They are subject to the regular tax rates applicable to individuals, and their income from all sources, both Indian and foreign, is taxable in India. ROR status carries the highest tax liability under the Income Tax Act.