CA-FN4 · CA-FN4 Ch.1 — Sections 4–9, 14–15Chapter 1 of 10

Basis of Charge, Residential Status and Heads of Income

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Vocab Vault

5 words in this chapter, simply explained

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Dividend

A part of the company's profit paid to shareholders — like a reward for investing.

Asset

Anything valuable a business owns — cash, buildings, machines, stock of goods.

Capital

The money put into a business to start it or grow it — for buildings, machines, expansion.

Subsidiary

A company owned and controlled by a bigger "parent" company.

Payable

Money the business owes suppliers for goods already received.

The Income Tax Act 1961 (ITA) is the primary legislation governing direct taxation in India. The basis of charge under Section 4 is that income tax shall be charged at the rates prescribed by the Finance Act on the total income of the previous year. Total income is determined after classifying income under five heads and applying various deductions. Residential status is the foundational concept — it determines the scope of income chargeable. An individual's residential status (Resident and Ordinarily Resident, Resident but Not Ordinarily Resident, or Non-Resident) dictates whether Indian-sourced income alone or global income is taxable. The concept of deemed income (Section 9) ensures income with an Indian nexus is always taxable regardless of where it accrues.

Before You Start

🎯 Why learn this?

Residential status and scope of total income form the backbone of every income tax problem — wrong status leads to wrong computation in all subsequent questions.

📚What you'll learn

  • •Basis of charge: Section 4 — charge on "total income" at Finance Act rates
  • •Previous year (Section 3) and assessment year — key definitions
  • •Residential status of individuals: ROR, RNOR, NR — dual control test
  • •Residential status of companies: Indian company vs POEM test
  • •Scope of total income: Section 5 — global income (ROR) vs Indian-source income (NR)
  • •Deemed income: Section 9 — income arising through business connection, property, in India
  • •Five heads of income: Sections 14–59

✅ After this chapter, you can…

  • ✓Determine the residential status of an individual given facts about their presence in India
  • ✓Apply Section 5 to determine which income is taxable for each residential status
  • ✓Identify income deemed to accrue in India under Section 9

💼 Real problems this solves at work

  • →Determining tax liability for Tata Consultancy Services employees on international secondment
  • →Advising an NRI on which Indian income sources are taxable under the ITA
  • →Applying POEM test to determine residential status of a foreign of an Indian MNC

01Residential Status — Individual

StatusBasic ConditionAdditional Condition for ROR
ResidentPresent in India ≥182 days in PY, OR Present ≥60 days in PY AND ≥365 days in 4 preceding yearsMust satisfy at least one additional condition
ROR (Resident & Ordinarily Resident)Basic condition met PLUS: Resident in India in ≥2 out of 10 preceding years AND present ≥730 days in 7 preceding yearsTaxed on global income
RNOR (Resident but Not Ordinarily Resident)Basic condition met but NEITHER additional condition satisfiedTaxed on Indian income + income from business controlled in India
NR (Non-Resident)Basic condition NOT metTaxed only on Indian-source income

Exam tip: Special rule for Indian citizens/PIOs leaving India for employment: 60-day limit replaced by 182 days. Similarly for Indian citizens visiting India: if their income (other than from foreign sources) exceeds ₹15 lakhs, the threshold is 120 days (Finance Act 2020 amendment).

02Scope of Total Income — Section 5

Income TypeRORRNORNR
Income received in IndiaTaxableTaxableTaxable
Income accruing in IndiaTaxableTaxableTaxable
Income accruing outside India from business controlled in IndiaTaxableTaxableNot taxable
Income accruing outside India from all other sourcesTaxableNot taxableNot taxable

03Section 9 — Deemed Income in India

SectionDeemed Income
9(1)(i)Income through or from business connection in India; property, , or source of income in India
9(1)(ii)Salary earned for services rendered in India
9(1)(iv) paid by Indian company
9(1)(v)Interest by resident (if used for Indian business/profession)
9(1)(vi)Royalty by resident or for use of IP in India
9(1)(vii)Fees for technical services by resident or used in India

Chapter Summary

  • 1Residential status: ROR (≥182 days OR ≥60+365 days) + both additional conditions. RNOR = basic met, additional not. NR = basic not met.
  • 2ROR: global income taxable. RNOR: Indian income + India-controlled business. NR: Indian-source only.
  • 3Section 9: business connection, salary in India, from Indian companies, royalty/FTS by residents.
  • 4Five heads: salaries, house property, PGBP, gains, other sources. Total income = aggregate after deductions.

Key Terms

Previous Year

Financial year (1 April to 31 March) immediately preceding the assessment year — the year in which income is earned.

Assessment Year

The year following the previous year in which income is assessed and tax is paid (e.g., AY 2025-26 for PY 2024-25).

ROR

Resident and Ordinarily Resident — taxable on global income including foreign-source income.

RNOR

Resident but Not Ordinarily Resident — transitional status; taxable on Indian income and business/profession income controlled in India.

POEM

Place of Effective Management — a foreign company is Indian-resident if its POEM is in India; determined by where key management/commercial decisions are made.

Business Connection

A real and intimate relation between a non-resident's business activity and India — triggers Section 9(1)(i) deemed income.