Taxation Exam > Taxation Videos > Income Tax for assessment (Inter Level) > Purpose of Visit to India is Immaterial to Determine Residential Status
Purpose of Visit to India is Immaterial to Determine Residential Status Video Lecture | Income Tax for assessment (Inter Level) - Taxation
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FAQs on Purpose of Visit to India is Immaterial to Determine Residential Status Video Lecture - Income Tax for assessment (Inter Level) - Taxation
| 1. What is the significance of the purpose of visit to India in determining an individual's residential status for taxation? |  |
Ans. The purpose of visit to India is immaterial in determining an individual's residential status for taxation. This means that the reason for visiting India, such as for tourism, business, or employment, does not impact how an individual is taxed in India.
| 2. How is an individual's residential status determined for taxation in India? | |
Ans. An individual's residential status for taxation in India is determined based on the number of days spent in India during a financial year. If an individual stays in India for more than 182 days in a financial year, they are considered a resident for tax purposes. If they stay for less than 182 days, they are considered a non-resident.
| 3. Are there any exceptions to the 182-day rule for determining residential status for taxation in India? | |
Ans. Yes, there are exceptions to the 182-day rule. If an individual has been in India for more than 60 days in a financial year and has been in India for more than 365 days in the preceding four financial years, they are also considered a resident for tax purposes.
| 4. How does an individual's residential status impact their tax obligations in India? | |
Ans. An individual's residential status in India determines the scope of their tax obligations. Residents are taxed on their global income, which includes income earned both in India and abroad. Non-residents are only taxed on income earned in India.
| 5. Can an individual change their residential status for taxation in India? | |
Ans. Yes, an individual can change their residential status for taxation in India if their stay in India meets the criteria for a different status. For example, if a non-resident stays in India for more than 182 days in a financial year, they will become a resident for tax purposes. Similarly, if a resident stays in India for less than 182 days in a financial year, they will become a non-resident.
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Nov 16, 2024 Last updated |
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