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FORM NO. 12B See rule 26A Form for furnishing details of income under section 192(2) for the year ending 31st March, Name and address of the employee Permanent Account No. Residential status S. No.

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A taxpayer would qualify as a resident of India if he satisfies one of the following 2 conditions : Stay in India for a year is 182 days or more or. Stay in India for the immediately 4 preceding years is 365 days or more and 60 days or more in the relevant financial year.

To determine the residential status of an individual, the first step is to ascertain whether he is resident or non-resident. If he turns to be a resident, then the next step is to ascertain whether he is resident and ordinarily resident or is a resident but not ordinarily resident.

An individual is said to be a resident in the tax year if he/she is: physically present in India for a period of 182 days or more in the tax year (182-day rule), or.

An NRI's income taxes in India will depend upon his residential status for the year as per the income tax rules mentioned above. If your status is 'resident', your global income is taxable in India. If your status is 'NRI,' your income earned or accrued in India is taxable in India.

A taxpayer would qualify as a resident of India if he satisfies one of the following 2 basic conditions: Stay in India for a year is 182 days or more or. Stay in India for the immediately 4 preceding years is 365 days or more and 60 days or more in the relevant financial year.

Any income earned by an NRI which is in the form of interest on the fixed deposits and saving bank accounts shall be taxable in India. However, if an NRI receives Interest on his NRE and FCNR account, that shall be tax-free. On the other hand, if they receives interest in their NRO account, that shall be fully taxable.

The Foreign Exchange Management Act (FEMA) has laid down clear rules to determine if a citizen of Indian origin is a Resident Indian or a Non-Resident Indian. He/she has lived in India for at least 60 days of a year, in the previous year, and at least 365 days in the preceding four years.

As per Section 6 of Income Tax Law, a person is an Indian Resident if: He is in India for a period of 182 days or more during the previous year or, If he is in India for a tenure of 60 days or more during the last year and 365 days or more during four years before the previous year, on an aggregate.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232