444. Will I be taxed in India if I

stay more than 60 days in India?

Questions: Sir/Madam, i am a seaman working for a foreign based company. Has nri rules changed from this financial year(2012-2013). I read somewhere that from now on if a person stays more than 60 days or 365 days in 4 year time, then he/she will be considered as resident indian. In that case will the concern person be liable for tax on his income earned on ship. or is there any other condition also especially for seaman like me. thank you pujkon Answer: As per current rules, a person is considered to be a resident in India for taxation purposes if: 1. They stay in India for a total period of 182 days or more in any previous financial year* Or 2. In India for 60 days or more AND for a total of 365 days or more in the preceding four years. For people such as you, working on a ship, there is an exception! Those who go out of India for the purpose of employment, the 60 days mentioned above in #2 are changed to 182 days. (As Per Section 6 Income tax act) In case any foreign passports holders are reading this, Persons of Indian origin, who have acquired foreign citizenship, when visiting India also are not considered resident by simply staying for 60 days. Here also the 60 days is changed to 182 days.

* Understanding the Indian

Financial year for taxation purposes

NRIs may sometimes find it confusing when they hear terms such as previous financial year, assessment year etc. Hear are three points to help clarify these terms and help understand what a financial year is and how a financial year differs from a assessment year. 1. The financial year in India begins on the 1st of April every year and ends on 31st March of the subsequent year. 2. The year in which the income is earned is known as the previous year. The financial year following a previous year is known as the assessment year. 3. The assessment year is the year, in which the salary earned in the previous year is taxable.