https://www.taxtmi.com/acts?id=51536 Section 5 sets the scope of total income: residents are taxed on income received in India, income accruing or arising in India, and foreign income subject to the not ordinarily resident limitation (foreign income included only if from a business controlled in India or a profession set up in India); non-residents are taxed on income received in India or accruing or arising in India. The section prevents treating foreign income as received in India solely because it appears in an Indian balance sheet and bars double inclusion where income already included on accrual grounds is not again included on receipt grounds. en-us Wed, 13 Aug 2025 18:29:32 +0530 Fri, 22 Aug 2025 10:06:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51536 Section 5 sets the scope of total income: residents are taxed on income received in India, income accruing or arising in India, and foreign income subject to the not ordinarily resident limitation (foreign income included only if from a business controlled in India or a profession set up in India); non-residents are taxed on income received in India or accruing or arising in India. The section prevents treating foreign income as received in India solely because it appears in an Indian balance sheet and bars double inclusion where income already included on accrual grounds is not again included on receipt grounds. Act-Rules Income Tax Wed, 13 Aug 2025 18:29:32 +0530 https://www.taxtmi.com/acts?id=51536