What makes you an nri




















Note : These days may be a single visit or counted over many visits to India. In case you are an Indian Citizen and you leave India for employment outside of India or as a member of the crew on an Indian ship.

In other words if you take up a job outside India,the 60 days minimum period will be increased to days. In you are an India citizen or a person of Indian Origin , and you live outside India the 60 days minimum period mentioned above will be increased to days for you. Irrespective of the conditions listed above for being a resident, there is also a concept of deemed resident.

An individual who is a citizen of India and has total income from other than foreign sources in excess of Rs 15 lakhs during a financial year, he shall be deemed to be resident in India in that year if he is not a tax resident of any other country. In case of a citizen of India and a member of the crew of a ship, the period or periods of stay in India shall, in respect of an eligible voyage shall be computed as follows:. The above rule is applicable from 1 April The rule is applicable for finding out residential status of Indian citizens as crew on Indian ships starting from the financial year While calculating this stay of days, the entire period mentioned in the Continuous Discharge Document shall be excluded even though the ship may have been on Indian coastal waters in its journey.

Earlier, the number of days outside India were only calculated from the date the Indian ship left Indian coastal waters. The answer is hidden in an INR75, crore war chest. Choose your reason below and click on the Report button.

This will alert our moderators to take action. Stock analysis. Market Research. Nifty 17, Honeywell 45, Market Watch. ET NOW. Brand Solutions. Video series featuring innovators. ET Financial Inclusion Summit. The authorities will evaluate this on case-to-case basis. Under the IT Act, an individual is assessed for tax on the basis of his residential status. An individual's residential status can be any of the following:.

Resident; also called as Resident and Ordinarily Resident. Resident; also called Resident but Not Ordinarily Resident. Non-resident; also called non-resident Indian. If you stay in India for at least days during a PY, you are a resident. If you stay in India for at least 60 days in India during the current FY and have stayed in India for at least a total of days during the four previous FYs, then you are a resident.

Let's say Sunita spent days in India during FY This is sufficient to declare her a resident. Ravi stayed in India for only for 60 days in and spent the rest of his time abroad. This does not mean he is not a resident. Since he spent at least days during the previous four FYs -- April 1, to March 31, -- in India, he is still considered a resident. However, the criteria of 60 days are extended to the first criteria of days for any one of the following instances:.

If you reside abroad for the purpose of employment. If you reside abroad as the member of the crew of an Indian ship. If you are an Indian citizen or a person of Indian origin who comes to India on a visit. You are referred to as a ROR if both the following conditions are satisfied.

You are a resident for at least two out of the 10 PYs preceding the relevant PY. NRIs or POIs can make these payments in the denomination of their home country, and they must be held in any of the foreign currencies prescribed by RBI in that account. Many NRI accounts exist and can be used for earning decent returns. Visit the website to get started! The contents are generic in nature and for informational purposes only.

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