GENERAL KNOWLEDGE

Detailed explanation-1: -A resident taxpayer is an individual who satisfies any one of the following conditions: Resides in India for a minimum of 182 days in a year, or. Resided in India for a minimum of 365 days in the immediately preceding four years and for a minimum of 60 days in the current financial year.

Detailed explanation-2: -(A person of Indian origin is one in whose case either of his parents or any of his grandparents, was born in undivided India). Thus, the residential status of an individual generally depends on his physical presence or period of stay in India and not on his nationality or domicile.

Detailed explanation-3: -Resident: A taxpayer would qualify as a resident of India if he satisfies one of the following 2 basic conditions: Stay in India for a year is 182 days or more or. Stay in India for the immediately 4 preceding years is 365 days or more and 60 days or more in the relevant financial year.

Detailed explanation-4: -Resident: A firm and an AOP would be resident in India if the control and management of its affairs is situated wholly or partly in India. Non-resident: Where the control and management of the affairs is situated wholly outside India, the firm and AOP would become a non-resident.