S4 Nature of Income The following chart highlights the provisions of tax incidence in brief: Tax incidence in case of Resident & ordinarily Resident but not Non resident resident ordinarily resident Income accrued or deemed to be accrued and Taxable Taxable Taxable received or deemed to be received in India Income accrued outside India but received or Taxable Taxable Taxable deemed to be received in India Income accrued or deemed to be accrued in India Taxable Taxable but received outside Indin Taxable Income accrued and received outside India from a business controlled in or profession set-up in Taxable Taxable Not taxable India Income accrued and received outside India from a business controlled or profession set-up outside Taxable Not taxable Not taxable India. Income accrued and received outside India in the previous year (it makes no difference if the same Taxable Not taxable Not taxable is later remitted to India) Income accrued and received outside India in any year preceding the previous year and later on Not taxable Not taxable Not taxable remitted to India in current financial year, Note: In case of resident assessee like company, firm etc. (Other than Individual and HUF) in which there is no classification as "Resident but not ordinarily resident', income accrued and received outside India from a business controlled or profession setup outside India shall be taxable. ILLUSTRATION Ram provides following details of income, calculate the income which is liable to be taxed in India for the A.Y.2019-20 assuming that (a) He is an ordinarily resident (b) He is not an ordinarily resident (c) He is a non-resident. Amount) 1.40,000 10,000 30,000 1,00,000 Particulars Salary received in India from a former employer of UK Income from tea business in Nepal being controlled from India Interest on company deposit in Canada (1/3rd received in India) Profit from a business in Mumbai controlled from UK Profit for the year 2002-03 from a business in Tokyo remitted to India Income from a property in India but received in USA Income from a property in London but received in Delhi Income from a property in London but received in Canada Income from a business in Jambia but controlled from Turkey 2,00,000 45,000 1.50,000 2,50,000 10,000