Residence-based taxation principle: residents taxed on worldwide income including income received or deemed received; non-residents limited to India-sourced income.

For a resident, total income includes income accruing or deemed to accrue in India, accruing outside India, received or deemed to be received in India, or received outside India, and such income must be included even if charged to tax abroad or relief for double taxation may be available. For a non-resident, total income includes income accruing or deemed to accrue in India or received or deemed to be received in India.

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