How to Become a Resident of India for Tax Purposes?
Learn the requirements for residency in India and how it impacts your taxes.
675 views
To be considered a resident of India for tax purposes, you need to have lived in the country for at least 182 days in a financial year or 60 days in that year and 365 days over the preceding four years. This residency status affects your tax obligations and benefits in India.
FAQs & Answers
- What is the residency requirement for tax purposes in India? You must live in India for at least 182 days in a financial year or 60 days in that year combined with 365 days over the last four years.
- How does residency status affect tax obligations in India? Your residency status determines your tax residency in India, which directly impacts how you are taxed on your income.
- Can expatriates apply for Indian residency? Yes, expatriates can apply for Indian residency by meeting the specified duration requirements stated by the government.
- What benefits come with being an Indian resident for tax purposes? Residents may benefit from lower tax rates on certain incomes, access to various tax deductions, and eligibility for certain government services.