NRI Legal Service - Income Tax Act 1961
NRI Legal Service - Income Tax Act 1961 Usually, a non-resident Indian (NRI) is defined as an individual who is a citizen of India or a person of Indian origin and who is not a resident of India. Whether they live in India or not they need to follow some Indian rules especially made for them Income Tax Act 1961, and Foreign Exchange Management Act 1999 are among them. His residential status is required to be determined, in order to figure out whether an individual is a Non-Resident Indian or not, under Section 6 of the Income Tax Act. Section 6 says that if he/she resides in India for a period of 182 days or more during the previous year or if he/she resides in India for 60 days or more during the previous year and 365 days or more during the 4 years immediately preceding that year. Before flying to a foreign country get to know about the risk factors through NRI legal service Kerala . Consider an example to determine whether a person is NRI or not, he/she stays out of India for ...