Residential Status of an individual plays an important role in determining the liability of an individual. Not understanding the laws relating to the residential status can create a high exposure to the tax liability.
The income chargeable to tax in the hands of an individual is dependent upon the residential status. This article will give clarity on the provisions with respect to Residential Status of a Non-Resident from the perspective of Income Tax Act, 1999 (IT Act) and the Foreign Exchange Management Act, 1999 (FEMA). The Chargeability of Income in the hands of Non-Resident Indian is also explained briefly below:
The team is talented, sharp and dedicated. Every member has up to date knowledge and is highly recommendable. Their immense experience in handling International Transactions is visible in the excellent work executed by them.
