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Tax Query: How freelancing income received from abroad is accounted for

Tax Query: How freelancing income received from abroad is accounted for
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Krishna Prasad , Income Tax Act , Not Ordinarily Resident , Ordinarily Resident , India Ireland Double Taxation Avoidance Agreement , கிருஷ்ணா பிரசாத் , வருமானம் வரி நாடகம் ,

NRIs – determination of residential status – again in limelight


NRIs – determination of residential status – again in limelight
Authored by Suresh Surana
There are over 28 million non-resident Indians (NRIs) settled outside India primarily concentrated in the US, UK, UAE, Saudi Arabia, Canada, Singapore, Hong Kong and other countries. The NRIs have always played an enormous role in India’s growth and economic progress due to investments in India and remittances made to India.
Residential Status Crucial to NRIs
Residential status is ascertained for each financial year (1 April to 31 March) separately. Residents are liable to tax on their worldwide income whereas non-residents are liable to tax only on income that accrues or is received in India. Hence, this is crucial for NRIs. ....

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