Overview of tax incidence

Overview of tax incidence

The chart below gives an overview of taxable income under different categories:

 

 

 

Nature of Income Resident Resident but not-ordinarily resident NRI
Income received or deemed to be received in India, wherever accrued Taxable Taxable Taxable
Income accrued or arisen or deemed to be accrued or arisen in India, wherever received Taxable Taxable Taxable
Income received and accrued outside India from a business/profession in India Taxable Taxable Taxable
Income received and accrued outside India from a business/profession outside India Taxable Exempt Exempt
Income earned and received outside India, subsequently remitted to India (at the time of remittance) Exempt Exempt Exempt