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What is the significance of the term "Deemed Indian Resident"?
  • a)
    It refers to individuals who are citizens of India but are living abroad.
  • b)
    It refers to individuals who have been non-residents for several years.
  • c)
    It refers to individuals who are citizens of India and have a total income exceeding 15 lakhs, with no tax liability in any other country.
  • d)
    It refers to individuals who are citizens of India and have no taxable income.
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
What is the significance of the term "Deemed Indian Resident"...
The term "Deemed Indian Resident" applies to individuals who are citizens of India and have a total income exceeding 15 lakhs, and they are not liable to tax in any other country due to domicile, residence, or similar criteria. This term ensures that Indian citizens with significant income cannot avoid taxation by structuring their stays in different countries.
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What is the significance of the term "Deemed Indian Resident"?a)It refers to individuals who are citizens of India but are living abroad.b)It refers to individuals who have been non-residents for several years.c)It refers to individuals who are citizens of India and have a total income exceeding 15 lakhs, with no tax liability in any other country.d)It refers to individuals who are citizens of India and have no taxable income.Correct answer is option 'C'. Can you explain this answer?
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What is the significance of the term "Deemed Indian Resident"?a)It refers to individuals who are citizens of India but are living abroad.b)It refers to individuals who have been non-residents for several years.c)It refers to individuals who are citizens of India and have a total income exceeding 15 lakhs, with no tax liability in any other country.d)It refers to individuals who are citizens of India and have no taxable income.Correct answer is option 'C'. Can you explain this answer? 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 What is the significance of the term "Deemed Indian Resident"?a)It refers to individuals who are citizens of India but are living abroad.b)It refers to individuals who have been non-residents for several years.c)It refers to individuals who are citizens of India and have a total income exceeding 15 lakhs, with no tax liability in any other country.d)It refers to individuals who are citizens of India and have no taxable income.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the significance of the term "Deemed Indian Resident"?a)It refers to individuals who are citizens of India but are living abroad.b)It refers to individuals who have been non-residents for several years.c)It refers to individuals who are citizens of India and have a total income exceeding 15 lakhs, with no tax liability in any other country.d)It refers to individuals who are citizens of India and have no taxable income.Correct answer is option 'C'. Can you explain this answer?.
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