Q.799 When will my worldwide income be tax if return to India in 2015

Question: As stated below if I return to India say in 2015 and stay 365 days a year for 7 years, then after 7 years I would have spent more than 729 days and then in 2022 my US income will be taxed in India. Please advise your opinion?. I do not plan to invest in India so I would have ZERO income from Indian sources Nirmal Jhunjhunwala Volunteer Ramakrishna Mission Answer: Your US income will become taxable in India way before the year 2022 that you mention in your email. You have quoted question/answer #422 in your email which I am not repeating here but readers can view it by clicking the link above. For clearer understanding on RNOR status in India which saves returning residents form having their worldwide income taxed in India, let me try and state rules in point form: Returning NRIs will have RNOR status if: 1. They have been out of India for 9 of the last 10 years OR 2. They have spent less than 729 days in India in the last 7 years Only ONE of the above two conditions needs to be satisfied. Generally when a NRI returns to India, after having lived in India for two years, they would have lived there for 730 days and RNOR status expires and worldwide income becomes taxable. In your case, you could calculate the days from your arrival using the previous taxation year and calculate when your RNOR status would expire. Generally it expires in two years for every returning NRI but can be stretched for three taxation years by planning dates of arrival in India.
Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail. © Copyright 2006 Nriinformation.com
N
RI Information
Informing educating and connecting Indians across the globe . . . by Virendar Chand
NriInformation Questions &Answers
Read Disclaimer at bottom of page
N
RI Information
Informing educating and connecting Indians across the globe
Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail. © Copyright 2006 Nriinformation.com
next next previous previous

Q.799 When will my worldwide

income be tax if return to India in

2015

Question: As stated below if I return to India say in 2015 and stay 365 days a year for 7 years, then after 7 years I would have spent more than 729 days and then in 2022 my US income will be taxed in India. Please advise your opinion?. I do not plan to invest in India so I would have ZERO income from Indian sources Nirmal Jhunjhunwala Volunteer Ramakrishna Mission Answer: Your US income will become taxable in India way before the year 2022 that you mention in your email. You have quoted question/answer #422 in your email which I am not repeating here but readers can view it by clicking the link above. For clearer understanding on RNOR status in India which saves returning residents form having their worldwide income taxed in India, let me try and state rules in point form: Returning NRIs will have RNOR status if: 1. They have been out of India for 9 of the last 10 years OR 2. They have spent less than 729 days in India in the last 7 years Only ONE of the above two conditions needs to be satisfied. Generally when a NRI returns to India, after having lived in India for two years, they would have lived there for 730 days and RNOR status expires and worldwide income becomes taxable. In your case, you could calculate the days from your arrival using the previous taxation year and calculate when your RNOR status would expire. Generally it expires in two years for every returning NRI but can be stretched for three taxation years by planning dates of arrival in India.
NriInformation FAQ
Read Disclaimer at bottom of page