Under Section 6 ITA 1961, an INDIVIDUAL is a RESIDENT in India for a previous year if he/she:
Answer & Solution
Correct answer: B.
1. Section 6(1) Income Tax Act 1961 defines residential status of an INDIVIDUAL:
2. (a) Basic conditions: (i) IN INDIA for 182 days or more during the previous year; OR (ii) IN INDIA for 60 days or more during the previous year AND 365 days or more in 4 immediately preceding years.
3. Exception: 60-day rule extended to 182 days for Indian citizens leaving India as crew or for employment, or for visiting Indians.
4. RESIDENT and ORDINARILY RESIDENT (ROR) status: ROR if additionally resident in 2 of 10 preceding years AND 730+ days in India in 7 preceding years.
5. Resident but Not Ordinarily Resident (RNOR) and Non-resident (NR) follow.
6. Hence option B is correct.
_Source: CS Executive Paper 4 Tax Laws (ICSI BoS) + Income Tax Act 1961 + CGST Act 2017 — Income Tax Act 1961, Section 6_
Related questions
Section 80GG ITA 1961 provides DEDUCTION for HOUSE RENT PAID by salary earners NOT receiviDOUBLE TAXATION AVOIDANCE AGREEMENT (DTAA) under Section 90 ITA 1961:Section 9 ITA 1961 prescribes when INCOME is DEEMED to ACCRUE OR ARISE in India for non-reSection 79 ITA 1961 restricts CARRY FORWARD of LOSSES of a COMPANY in case of CHANGE in BESections 73-75 CGST Act 2017 prescribe procedures for tax DEMANDS where TAX has been NOT PSection 5 IGST Act 2017 levies IGST on:Under Section 269ST ITA 1961, CASH RECEIPTS of Rs 2 LAKH or MORE from a single person in rThe DIRECT TAX VIVAD SE VISHWAS ACT 2020 was enacted to: