Resident status wise incomes taxable
Resident status wise incomes taxable / not taxable in India
| Nature of income | Residential status | ||
|---|---|---|---|
| Resident and ordinarily resident | Resident but not ordinarily resident | Non-resident | |
| Income which accrues or arises in India | Taxed | Taxed | Taxed |
| Income which is deemed to accrue or arise in India | Taxed | Taxed | Taxed |
| Income which is received in India | Taxed | Taxed | Taxed |
| Income which is deemed to be received in India | Taxed | Taxed | Taxed |
| Income accruing outside India from a business controlled from India or from a profession set up in India | Taxed | Taxed | Not Taxed |
| Income other than above (i.e., income which has no relation with India) | Taxed | Not Taxed | Not Taxed |
Incomes deemed to be received in India
Following incomes are deemed to be received in India:
- Interest credited to recognized provident fund account of an employee in excess of 9.5% per annum.
- Employer’s contribution to recognized provident fund in excess of 12%.
- Transferred balance in case of reorganization of unrecognized provident fund.
- Employers’ Contribution to the account of the employee in case of notified pension scheme referred to in section 80CCD.
Resident status wise incomes taxable
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