First Highlight for revision:- First of all... Lots of love and best wishes for tax paper.. just remember to put efforts as much as you can in the paper of tax but don't do injustice with the other papers.. Be practical minded- give your best while preparing for tax but when the burden and tension of this tax paper starts consuming a lot of time of yours that you are required to spend on other subjects just remember that you just need 40 to crack tax .. I am not trying to demotivate you but just trying to relieve you from the excess tension that you could take for it .( P.S- for those who have decided and working on their papers with pre-decided stipulated hours, obviously this message is not for you) Let's summarise- In order to become a resident you need to fulfill one of the basic conditions but in order to become resident and ordinarily resident you need to satisfy both the additional conditions. 1 basic condition plus two additional conditions gives ROR 1 BASIC CONDITION PLUS ANY ONE ADDITIONAL CONDITION GIVES RNOR NO BASIC CONDITION GIVES NON RESIDENT WHAT IS THE SPECIALITY OF THE DEEMED RESIDENT ? Deemed resident is always an -Indian citizen --who earns more than 15 lacs from other than foreign sources -- but does not fall in the tax paying liability in any country ,not even in India (why not even in India -because as per the rules and Indian citizen or a person of Indian origin if earns more than 15 lacs from other than foreign sources and stays in India for 120 days or more in the relevant previous year as well as 365 days or more total in the four years preceding the relevant previous year----then such person becomes the resident in our country) As a result the president is such a person who has earned more than 15 lacs other than foreign sources, is an Indian citizen too but stayed for less than 120 days in the relevant previous year did not become the resident of our country and got the status of non resident- so not taxable in India... Slowly slowly this particular person did not fall in the tax paying liability in any country and hence our country thought that this person should not be left out😅😅 so this person was deemed to be a resident of India and hence became liable to pay tax in india. Such was the tragic story of the deemed resident
@ritikasharma3793 Nice summarisation. I had a question, If a person(Indian citizen or Indian origin) has left India for education in FY 21-22, and is coming to India in the financial year 22-23. In both such cases(for both years) will this fall in exception list? For 21-22 - A person leaving India for employment outside India and for 22-23 - A person visiting India. Need to know whether 182 days will be applicable or 60 days condition will also be applied here.
Imp - Indian citizen or person of Indian origin - who earned more than 15 lacs and couldn't qualify the first basic condition but became resident after qualifying the second basic condition - stay of 120 days or more in the relevant P.Y and 365 days or more in the four years immediately preceding the relevant previous year. Such person will always become RNOR
And one thing I found interesting is that in case of Indian citizen or a person of Indian origin who earned upto 15 lakhs --in this very special case, the very first basic condition is stay of 182 days or more in the relevant previous year.. Even in the second basic condition the stay is 182 days or more in the relevant previous year and 365 days or more in 4 years immediately preceding the relevant previous year. Matlab in this very special case agar the very first basic condition hi fulfill nahin Hui.. toh non-resident toh ban gya .. because both-- in the first and the second basic condition we have a clause of stay of 182 days or more .. hence if first basic condition is unfulfilled, obviously the second basic condition too remains unfulfilled
2nd highlight We need to remember that an Indian citizen or a person of Indian origin coming to India gets differentiated in the second basic condition just because of the income that is earned from other than foreign sources--what I mean is that if a Indian citizen or a person of Indian origin earns more than 15 LAX from other than foreign sources then always remember the first basic condition remains same - that is in order to become resident the person should have stayed for 182 days or more in the relevant previous year but in the case , this first basic condition is not satisfied then this person gets a special treatment. Why I said this because the second basic condition for this person now changes and the second basic condition in this special case ( >15 lacs Wale case me ) that the person should have stayed for 120 days or more in the relevant previous year and 365 days or more in the four years immediately preceeding the relevant previous year. Dhyan rahe ki baki cases may second basic condition mein 120 days ki jagah 60 days hota hai.. Aur agar upar wali case mein usne income 15 lakh yaa ussse kam kamai hoti , toh second basic condition mein ab 120 days ki jagah 182 days or more aa jata aur baki 365 days wali condition same rehti. Chhoti si summary aur- normal cases may second basic condition- 60 days or more in relevant previous year and 365 days or more in the four years preceding the relevant previous year. Special cases - when person of Indian origin or Indian citizen visits India and earns more than 15 lacs from other than foreign sources- then , the very first basic conditions remain the same just like the normal cases, but in the second basic condition unlike the 60 days wala clause in the normal situation ,yahan per 120 days or more in relevant previous year and 365 days or more in the four years immediately preceding the relevant previous year and the case when Indian citizen or person of Indian origin visits India and earns up to 15 lacs from other than foreign sources then also the very first basic condition remains the same but in the second basic condition, naahi 60 days ,naahi 120 days but 182 days or more in the relevant previous year and 365 days or more in the four years immediately preceding the relevant previous year Dhyan Dene wali baat yah hai ki special cases mein jab normal first basic condition unfulfilled reh jayegi, in that case the second basic condition will be seen which demands at least 120 days of stay in the relevant previous year.... As a result an Indian citizen or a person of Indian origin who is visiting India -if it stays for less than 120 days in the relevant previous year then they will be given the status of non resident
Day of arrival and day of departure is considered to be in India, but day of departure for a person going on a crew ( also known as the date of joining in ) will not be considered in India. Similarly the day of arrival of the person from the crew also known as the date of signing off will also be not considered in India. Crew of Ship- here ship means foreign bound ship.. And here we are talking about the stay of Indian citizen on such a foreign bound ship
First Highlight for revision:-
First of all... Lots of love and best wishes for tax paper.. just remember to put efforts as much as you can in the paper of tax but don't do injustice with the other papers..
Be practical minded- give your best while preparing for tax but when the burden and tension of this tax paper starts consuming a lot of time of yours that you are required to spend on other subjects just remember that you just need 40 to crack tax .. I am not trying to demotivate you but just trying to relieve you from the excess tension that you could take for it .( P.S- for those who have decided and working on their papers with pre-decided stipulated hours, obviously this message is not for you)
Let's summarise-
In order to become a resident you need to fulfill one of the basic conditions but in order to become resident and ordinarily resident you need to satisfy both the additional conditions.
1 basic condition plus two additional conditions gives ROR
1 BASIC CONDITION PLUS ANY ONE ADDITIONAL CONDITION GIVES RNOR
NO BASIC CONDITION GIVES NON RESIDENT
WHAT IS THE SPECIALITY OF THE DEEMED RESIDENT ?
Deemed resident is always an
-Indian citizen
--who earns more than 15 lacs from other than foreign sources
-- but does not fall in the tax paying liability in any country ,not even in India (why not even in India -because as per the rules and Indian citizen or a person of Indian origin if earns more than 15 lacs from other than foreign sources and stays in India for 120 days or more in the relevant previous year as well as 365 days or more total in the four years preceding the relevant previous year----then such person becomes the resident in our country)
As a result the president is such a person who has earned more than 15 lacs other than foreign sources, is an Indian citizen too but stayed for less than 120 days in the relevant previous year did not become the resident of our country and got the status of non resident- so not taxable in India... Slowly slowly this particular person did not fall in the tax paying liability in any country and hence our country thought that this person should not be left out😅😅 so this person was deemed to be a resident of India and hence became liable to pay tax in india. Such was the tragic story of the deemed resident
@ritikasharma3793 Nice summarisation. I had a question, If a person(Indian citizen or Indian origin) has left India for education in FY 21-22, and is coming to India in the financial year 22-23. In both such cases(for both years) will this fall in exception list? For 21-22 - A person leaving India for employment outside India and for 22-23 - A person visiting India. Need to know whether 182 days will be applicable or 60 days condition will also be applied here.
Imp - Indian citizen or person of Indian origin - who earned more than 15 lacs and couldn't qualify the first basic condition but became resident after qualifying the second basic condition - stay of 120 days or more in the relevant P.Y and 365 days or more in the four years immediately preceding the relevant previous year.
Such person will always become RNOR
And one thing I found interesting is that in case of Indian citizen or a person of Indian origin who earned upto 15 lakhs --in this very special case, the very first basic condition is stay of 182 days or more in the relevant previous year..
Even in the second basic condition the stay is 182 days or more in the relevant previous year and 365 days or more in 4 years immediately preceding the relevant previous year.
Matlab in this very special case agar the very first basic condition hi fulfill nahin Hui.. toh non-resident toh ban gya .. because both-- in the first and the second basic condition we have a clause of stay of 182 days or more .. hence if first basic condition is unfulfilled, obviously the second basic condition too remains unfulfilled
gazab revision
Deemed resident can never become ROR .....waise bhi tax ke liye usse kisi tarah resident maan rhe 😂😂
In order for a huf to be qualified as r o r and r n o r-two additional conditions should be satisfied by the karta
Thanks
Great revision, please provide for all chapters also sir, love from Nagpur ❤
Thankyou Sir❤
sir additional condition me to 9 out of 10 p. years check krte hai na
Sir Income tax se sare chapter ka revision karvado na please please....🙏🙏😊
2nd highlight
We need to remember that an Indian citizen or a person of Indian origin coming to India gets differentiated in the second basic condition just because of the income that is earned from other than foreign sources--what I mean is that if a Indian citizen or a person of Indian origin earns more than 15 LAX from other than foreign sources then always remember the first basic condition remains same -
that is in order to become resident the person should have stayed for 182 days or more in the relevant previous year but in the case , this first basic condition is not satisfied then this person gets a special treatment. Why I said this because the second basic condition for this person now changes and the second basic condition in this special case ( >15 lacs Wale case me ) that the person should have stayed for 120 days or more in the relevant previous year and 365 days or more in the four years immediately preceeding the relevant previous year.
Dhyan rahe ki baki cases may second basic condition mein 120 days ki jagah 60 days hota hai..
Aur agar upar wali case mein usne income 15 lakh yaa ussse kam kamai hoti , toh second basic condition mein ab 120 days ki jagah 182 days or more aa jata aur baki 365 days wali condition same rehti.
Chhoti si summary aur- normal cases may second basic condition-
60 days or more in relevant previous year and 365 days or more in the four years preceding the relevant previous year.
Special cases - when person of Indian origin or Indian citizen visits India and earns more than 15 lacs from other than foreign sources- then , the very first basic conditions remain the same just like the normal cases, but in the second basic condition unlike the 60 days wala clause in the normal situation ,yahan per 120 days or more in relevant previous year and 365 days or more in the four years immediately preceding the relevant previous year
and
the case when Indian citizen or person of Indian origin visits India and earns up to 15 lacs from other than foreign sources then also the very first basic condition remains the same but in the second basic condition, naahi 60 days ,naahi 120 days but 182 days or more in the relevant previous year and 365 days or more in the four years immediately preceding the relevant previous year
Dhyan Dene wali baat yah hai ki special cases mein jab normal first basic condition unfulfilled reh jayegi, in that case the second basic condition will be seen which demands at least 120 days of stay in the relevant previous year....
As a result an Indian citizen or a person of Indian origin who is visiting India -if it stays for less than 120 days in the relevant previous year then they will be given the status of non resident
you are a gem girl, I was too confused in the exception to 60 days wali point mein, you made it clear thankyouuu.
@@musicalvibes1932 thnx
Sir aap ki yeh summary book kaha se milegi. Hardcopy or soft copy of any kind.
Sir GST ka pehle karwado
true sir gst nai dalte h
Sir notes bhi provide krwa do
Sir, ye videos cma inter ke liye v hai na ?
Great 😃👍
Thanks for this sir
❤️❤️❤️❤️
Gst revision with questions
Waiting for other chapters too..
Day of arrival and day of departure is considered to be in India, but day of departure for a person going on a crew ( also known as the date of joining in ) will not be considered in India.
Similarly the day of arrival of the person from the crew also known as the date of signing off will also be not considered in India.
Crew of Ship- here ship means foreign bound ship..
And here we are talking about the stay of Indian citizen on such a foreign bound ship
Ok so what matters for tax liability is residential status and not citizen ship ..thnx sir
Only individual and h.u.f. can be classified as r o r and n r o r
SIR PLEASE YE NOTES BHI DEDO
Waiting for gst revision sir
Sir GST kr wa do
Thank You so much Sir.....❤️