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Mr.raja left for U.S.A along with his family, for tha first time,on 14/10/2020.he returned to India on 31/5/2021.determine his residential status for tha assessment year 2021-2022?
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Mr.raja left for U.S.A along with his family, for tha first time,on 14...
Residential Status of Mr. Raja for Assessment Year 2021-2022
Residential status is an important factor in determining the tax liability of an individual in India. It is determined based on the period of stay of an individual in India during a financial year. The residential status of Mr. Raja for the assessment year 2021-2022 can be determined as follows:
Period of Stay in India
Mr. Raja left for the USA along with his family on 14/10/2020 and returned to India on 31/5/2021. Therefore, his period of stay in India during the financial year 2020-2021 (1st April 2020 to 31st March 2021) is as follows:
- From 1st April 2020 to 13th October 2020 – He was in India for 196 days.
- From 14th October 2020 to 31st March 2021 – He was in the USA for 169 days.
Residential Status
Based on the above period of stay, Mr. Raja's residential status for the assessment year 2021-2022 can be determined as follows:
- Resident and Ordinarily Resident (ROR) – An individual is considered ROR if he/she satisfies any of the following conditions:
- The individual has been in India for 182 days or more during the financial year, OR
- The individual has been in India for 60 days or more during the financial year and 365 days or more during the preceding four financial years.
In Mr. Raja's case, he has been in India for 196 days during the financial year 2020-2021. Hence, he satisfies the first condition of being in India for 182 days or more during the financial year. Therefore, he is considered as Resident and Ordinarily Resident (ROR) for the assessment year 2021-2022.
Conclusion
In conclusion, Mr. Raja's residential status for the assessment year 2021-2022 is Resident and Ordinarily Resident (ROR) based on his period of stay in India during the financial year 2020-2021. It is important for him to file his income tax return in India and pay taxes accordingly.
Residential status is an important factor in determining the tax liability of an individual in India. It is determined based on the period of stay of an individual in India during a financial year. The residential status of Mr. Raja for the assessment year 2021-2022 can be determined as follows:
Period of Stay in India
Mr. Raja left for the USA along with his family on 14/10/2020 and returned to India on 31/5/2021. Therefore, his period of stay in India during the financial year 2020-2021 (1st April 2020 to 31st March 2021) is as follows:
- From 1st April 2020 to 13th October 2020 – He was in India for 196 days.
- From 14th October 2020 to 31st March 2021 – He was in the USA for 169 days.
Residential Status
Based on the above period of stay, Mr. Raja's residential status for the assessment year 2021-2022 can be determined as follows:
- Resident and Ordinarily Resident (ROR) – An individual is considered ROR if he/she satisfies any of the following conditions:
- The individual has been in India for 182 days or more during the financial year, OR
- The individual has been in India for 60 days or more during the financial year and 365 days or more during the preceding four financial years.
In Mr. Raja's case, he has been in India for 196 days during the financial year 2020-2021. Hence, he satisfies the first condition of being in India for 182 days or more during the financial year. Therefore, he is considered as Resident and Ordinarily Resident (ROR) for the assessment year 2021-2022.
Conclusion
In conclusion, Mr. Raja's residential status for the assessment year 2021-2022 is Resident and Ordinarily Resident (ROR) based on his period of stay in India during the financial year 2020-2021. It is important for him to file his income tax return in India and pay taxes accordingly.
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Mr.raja left for U.S.A along with his family, for tha first time,on 14...
Mr.rajendran left for USA along with his family for the first time on 14.10.2022.He returned to India on 31.05.2023.Determine the residential status for assessment year 2023-2024.
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Mr.raja left for U.S.A along with his family, for tha first time,on 14/10/2020.he returned to India on 31/5/2021.determine his residential status for tha assessment year 2021-2022?
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Mr.raja left for U.S.A along with his family, for tha first time,on 14/10/2020.he returned to India on 31/5/2021.determine his residential status for tha assessment year 2021-2022? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Mr.raja left for U.S.A along with his family, for tha first time,on 14/10/2020.he returned to India on 31/5/2021.determine his residential status for tha assessment year 2021-2022? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr.raja left for U.S.A along with his family, for tha first time,on 14/10/2020.he returned to India on 31/5/2021.determine his residential status for tha assessment year 2021-2022?.
Mr.raja left for U.S.A along with his family, for tha first time,on 14/10/2020.he returned to India on 31/5/2021.determine his residential status for tha assessment year 2021-2022? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Mr.raja left for U.S.A along with his family, for tha first time,on 14/10/2020.he returned to India on 31/5/2021.determine his residential status for tha assessment year 2021-2022? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr.raja left for U.S.A along with his family, for tha first time,on 14/10/2020.he returned to India on 31/5/2021.determine his residential status for tha assessment year 2021-2022?.
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