Resident: An individual is considered as a resident in a financial
year if he was in India during that financial year for a total period of 182 days
OR He was in India during that financial year for a period of 60
days or more and he was in India for a period of 365 days or more during 4 financial
years immediately preceding the relevant financial year.* (Exception applicable)
Non-Resident: If any one of the above conditions is satisfied,
the individual is said to be resident in India. However, if none of the conditions
is satisfied, he is said to be a non-resident.
Ordinarily Resident: A resident individual is said to be ordinarily
resident in India in any financial year if such person has been resident in India
in at least 2 out of 10 previous years immediately preceding the relevant previous
year and 2) he has been in India for a period of 730 days or more during 7 years
immediately preceding the relevant previous year.
Resident but not ordinarily resident: If an Individual is able
to satisfy either none or only one of the two additional conditions specified above
he qualifies himself as a resident but not ordinarily resident’.