Types of Residential Status for the Accounting Year 2009-2010
- Resident and Ordinarily Resident
- Resident and Not Ordinarily Resident
Who is considered a Resident of India?
An individual shall be considered a Resident of India if he fulfills any one of the following conditions:
- He should be in India for 182 days or more during the previous year
- He should be in India for 60 days or more during the during the previous year AND
- He should be in India for 365 days or more in 4 years immediately preceding the relevant previous year.
- An Indian Citizen leaves India during the previous year as a crew member of a ship or for the purpose of employment outside India.
- An Indian Citizen or a Person of Indian Origin visits India during the previous year
Then he shall be a Resident of India only if he is in India for 182 days or more.
Who is considered an Ordinarily Resident Indian?
A resident shall be an Ordinarily Resident Indian if he satisfies the following conditions:
- He is a resident of India in at least 2 out of the 10 years immediately preceding the relevant previous year. AND
- He has been in India for a period of 730 days (2×365) or more in 7 years immediately preceding the relevant previous year.