Tax Residency in India Simplified For You !

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tax_residencyThe tax residency  of  a person in India determines whether an amount received or accessed to him in a year is taxable under I.T. Act.  This is so because section 5 of the Income Tax Act which defines Total Income excludes all income earned , accrued or arisen abroad in hand of  a Non-Resident whereas income of a resident of India whether earned or accrued o arisen in India or aboard is taxable. This differential treatment compel one to first know the tax residency of the person for knowing if any sum is taxable in India in his hand. You can also see this amazing tax residency calculator

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