INCIDENCE OF TAX SCOPE OF TOTAL INCOME ON THE BASIS OF RRSIDENTIAL STATUS.

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Presentation transcript:

INCIDENCE OF TAX SCOPE OF TOTAL INCOME ON THE BASIS OF RRSIDENTIAL STATUS

TAX INCIDENCE IN BRIEF INCOMES RESIDENTNOR NR Income received in India. It is immaterial where it accrues or arises taxable Income deemed to be received in India, whether accrued or arisen in India or outside India taxable Income accruing or arising in India, whether received in India or outside India taxable Income deemed to accrue or arise in India, whether received in India or outside India txabletaxable Income received outside India from a business controlled in or profession setup in India taxable Not taxable Income received outside India from a business controlled or profession setup outside india taxableNot taxable Income received outside India from any other sourcetaxableNot taxable Past untaxed income brought to India in the relevant previous year Not taxable

INCOME RECEIVED IN INDIA The term received means receipt of income on the first occasion The place of receipt will be the place where it is received for the first time. It shall not include a place of its receipt on subsequent remittance

DEEMED TO BE RECEIVED The annual accretion to the RPF account of an employee is not actually received by the employee but it is deemed to be received Tax deducted at source Dividend is deemed to be received in the year when it is declared The employer's contribution to the pension fund of the employee is deemed to be received in the year when it is so deposited

ACCRUES OR ARISES ACCRUE OR ARISE MEANS RIGHYT TO RECEIVE THE INCOME AS AGAINST ACTUAL RECEIPT OF INCOME

DEEMED TO ACCRUE OR ARISE 1 income is deemed to accrue or arise in india, if it accrues or arises directly or indirectly: Through or from any business connection in India Through or from any property in India Through or from any asset or source of income in india Through the transfer of a capital asset situated in India 2 salary earned in India and received outside India 3 salary paid by the Govt of India to a citizen of India for services outside India 4 Dividend paid by an Indian company outside India 5 Interest /royalty payable by the Govt of India is deemed to accrue or arise in India