Income Tax Expert Question: Download Questions PDF
Tell me how will you decide the residential status of an individual?
Answer:
As per the provisions of Income Tax Act residential status of an individual is categorized as Resident and Non Resident.
Under Section 6(1), an individual is said to be resident in India in any previous year if he satisfies any one of the following basic conditions:
1. He is in India in the previous year for a period of at least 182 days.
2. He is in India for a period of at least 60 days during the relevant previous year and at least 365 days during the four years preceding that previous year.
The above provisions are applicable only to those who are residents of India irrespective of their nationality otherwise they are included in Non resident.
Under Section 6(1), an individual is said to be resident in India in any previous year if he satisfies any one of the following basic conditions:
1. He is in India in the previous year for a period of at least 182 days.
2. He is in India for a period of at least 60 days during the relevant previous year and at least 365 days during the four years preceding that previous year.
The above provisions are applicable only to those who are residents of India irrespective of their nationality otherwise they are included in Non resident.
Download Income Tax Expert Interview Questions And Answers
PDF
| Previous Question | Next Question |
| Do you know what is Opportunity Cost and Differential Cost? | Explain me deferred tax Liability? What items come under deferred tax liability? |