Residential status- Individual

The residential status of the assessee is useful in determining the scope or chargeability of the income for the assessee, i.e., whether taxable or not. For an individual person, to be a resident, any one of the following basic conditions must be satisfied:-
  • Presence of at least 182 days in India during the previous year.
  • Presence of at least 60 days in India during the previous year and 365 days during 4 years immediately preceding the relevant previous year.
However, in case the individual is an Indian citizen who leaves India during the previous year for the purpose of employment (or as a member of a crew of an Indian ship) or in case the individual is a person of Indian origin who comes on a visit to India during the previous year, then only the first of the above basic condition is applicable. India origin means those person which are born in India before partition of India. To determine whether the resident individual is ordinarily resident the following both additional conditions are to be satisfied:-
  • Resident in India in at least 2 out of 10 years immediately preceding the relevant previous year.
  • Presence of at least 730 days in India during 7 years immediately preceding the relevant previous year.
If the individual resident satisfies only one or none of the additional conditions, then he is not ordinarily resident. (In case the person is not an individual or an HUF, then the residential status can only be either resident or non-resident)

Residential status of a person other than an individual

Type of person Control & management of affairs of the taxpayer is wholly in India Control & management of affairs of the taxpayer is wholly outside India Control & management of affairs of the taxpayer is partly in India partly outside India
HUF Resident Non-resident Resident
Firm Resident Non-resident Resident
Association of persons Resident Non-resident Resident
Indian company Resident Resident Resident
Foreign company Resident Non-resident Non-resident
Any other person except an individual Resident Non-resident Resident
For any queries, you can contact Prof. Vipin Saboo at 9820779873

 

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Education Qualification: BMS- N M College (University Rank Holder) PGDBM- Sydenham College M Com- College topper Mr Vipin Saboo has been associated with the following institutes as a visiting faculty Lords college, Malad Patkar College, Goregoan Saraf college, Malad Dalmia college, Malad St Andrews College, Bandra Wilson College, Grant Road Thakur college, Kandivili L N College, Kandivili N K College, Malad Dhanukar College, Vile Parle St Xaviers College, Marine Lines Shroff College, Kandivili KES College, Khar Mr.Vipin Saboo also has more than 5 years of industry expertise with corporate like CRISIL, Motilal Oswal Investment Banking and Yes Bank. Mr. Saboo has also published a text book on Logistics and Supply Chain Management for TYBMS Students.
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