The income tax Laws treat residents and non-residents differently in respect of some of the taxation provisions. In this article we shall discuss the tax benefits which are available to a resident Individual tax payer and which is not available to a non resident tax payers. Please note Non Resident for taxation purpose is different from under FEMA (Foreign Exchange Management Act) for the purposes of baking transactions and making investments in India. A person is treated as non resident for income tax purposes on the basis of his period of stay in the financial year ended 31st March of each year and which is generally known after end of the year. Let us discuss the major benefits which are not available to a non-resident.
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