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Resident status wise incomes taxable

by Acharya

Resident status wise incomes taxable

Resident status wise incomes taxable / not taxable in India

Nature of incomeResidential status
Resident and ordinarily residentResident but not ordinarily residentNon-resident
Income which accrues or arises in IndiaTaxedTaxedTaxed
Income which is deemed to accrue or arise in IndiaTaxedTaxedTaxed
Income which is received in IndiaTaxedTaxedTaxed
Income which is deemed to be received in IndiaTaxedTaxedTaxed
Income accruing outside India from a business controlled from India or from a profession set up in IndiaTaxedTaxedNot Taxed
Income other than above (i.e., income which has no relation with India)TaxedNot TaxedNot Taxed

Incomes deemed to be received in India

Following incomes are deemed to be received in India:

  1. Interest credited to recognized provident fund account of an employee in excess of 9.5% per annum.
  2. Employer’s contribution to recognized provident fund in excess of 12%.
  3. Transferred balance in case of reorganization of unrecognized provident fund.
  4. 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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