Ostroff, Fair and Company
*Ostroff, Fair and Company>>>India Taxes

Since when NRI status rule changed.What does the new rule says.?


PREVIOUSLY IF A PERSON IS NRI FOR TWO CONSECUTIVE YEARS ,
THE NEXT SEVEN YEARS HE WAS DEEMED TO BE NRI.BUT NOW ONE HAS
TO BE ATLEST 182 DAYS OUT SIDE INDIA EVERY YEAR TO BE NRI.
SINCE WHEN THIS ACT CAME INTO FORCE.WHICH ACCOUNTING YEAR.
WHICH ASSESSMENT YEAR.

I am afraid your observation is not correct.the correct poistion is

An individual is said to be resident in India in any previous year, if he-

(a) is in India in that year for a period or periods amounting in all to one hundred and eighty-two days or more;or

(c) having within the four years preceding that year been in India for a period or periods amounting in all to three hundred and sixty-five days or more, is in India for a period or periods amounting in all to sixty days or more in that year. Source(s): Read Section 6 of the I T Act 1962
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