https://www.taxtmi.com/article/detailed?id=17492 Section 5 of the Income-tax Act, 2025 substantially retains the scope-of-total-income framework under the Income-tax Act, 1961. Residents are taxable on Indian receipts, Indian accruals, and foreign accruals, subject to the restricted inclusion of foreign income for persons who are not ordinarily resident. Non-residents are taxable on Indian receipts and Indian accruals. Foreign income is not deemed received merely because it appears in an Indian balance sheet, and income included on accrual cannot be included again on receipt. en-us Wed, 30 Sep 2026 10:27:37 +0530 Wed, 30 Sep 2026 10:27:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=17492 Section 5 of the Income-tax Act, 2025 substantially retains the scope-of-total-income framework under the Income-tax Act, 1961. Residents are taxable on Indian receipts, Indian accruals, and foreign accruals, subject to the restricted inclusion of foreign income for persons who are not ordinarily resident. Non-residents are taxable on Indian receipts and Indian accruals. Foreign income is not deemed received merely because it appears in an Indian balance sheet, and income included on accrual cannot be included again on receipt. Articles Income Tax Wed, 30 Sep 2026 10:27:37 +0530 https://www.taxtmi.com/article/detailed?id=17492