GK
TAXES IN INDIA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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R Ltd., is registered in U.K. The control and management of its affairs is situated in India .R Ltd shall be :
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Resident in India
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Not ordinarily resident in India
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Non-resident
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None of these
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Explanation:
Detailed explanation-1: -If he / she is in India for a period of 60 days or more during the previous year and 365 days or more during 4 years immediately preceding the previous year. An individual who does not satisfy both the conditions as mentioned above will be treated as Non-Resident in that previous year.
Detailed explanation-2: -The rule is applicable for finding out residential status of Indian citizens as crew on Indian ships starting from the financial year 2015-16. Such crew is considered as Non Resident Indian (NRI) for income tax purposes, when they have spent less than 182 days in India.
There is 1 question to complete.