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Mr. Higgins a foriegn cricketer comes to India for 100 days every year since the financial year 2013-2014.Find out his residential status for the assessment year 2024-25?
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Mr. Higgins a foriegn cricketer comes to India for 100 days every year...
Residential Status of Mr. Higgins for AY 2024-25
Mr. Higgins' residential status for the assessment year 2024-25 will depend on the number of days he stays in India during the financial year 2023-24.

Rule for Determining Residential Status
- According to the Income Tax Act, an individual is considered a resident in India if he/she is in the country for 182 days or more in the financial year.
- If Mr. Higgins stays in India for more than 182 days in the FY 2023-24, he will be considered a resident for AY 2024-25.

Calculation of Mr. Higgins' Stay in India
- Mr. Higgins comes to India for 100 days every year since the financial year 2013-2014.
- For the FY 2023-24, he would have stayed in India for 100 days.
- Therefore, his total stay in India for the FY 2023-24 would be 100 days.

Residential Status for AY 2024-25
- Since Mr. Higgins has not stayed in India for more than 182 days in the FY 2023-24, he will be considered a non-resident for the assessment year 2024-25.
- As a non-resident, Mr. Higgins' income will be taxed differently compared to a resident individual.
In conclusion, Mr. Higgins' residential status for the assessment year 2024-25 will be non-resident based on his stay in India during the financial year 2023-24.
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Financial markets in India have acquired greater depth and liquidity over the years. Steady reforms since 1991 have led to growing linkages and integration of the Indian economy and its financial system with the global economy. Weak global economic prospects and continuing uncertainties the in international financial markets therefore, have had their impact on the emerging market economies. Sovereign risk concerns, particularly in the Euro area, affected financial markets for the greater part of the year, with the contagion of Greeces sovereign debt problem spreading to India and other economies by way of higher-than-normal levels of volatility.The funding constraints in international financial markets could impact both the availability and cost of foreign funding for banks and corporates. Since the Indian financial system is bank dominated, banks ability to withstand stress is critical to overall financial stability. Indian banks, however, remain robust, notwithstanding a decline in capital to risk-weighted assets ratio and a rise in nonperforming asset levels in the recent past. Capital adequacy levels remain above the regulatory requirements. The financial market infrastructure continues to function without any major disruption. With further globalization, consolidation, deregulation, and diversification of the financial system, the banking business may become more complex and riskier. Issues like risk and liquidity management and enhancing skill therefore assume greater significance.Q.The Indian financial markets are affected by global changes mainly due to the

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Mr. Higgins a foriegn cricketer comes to India for 100 days every year since the financial year 2013-2014.Find out his residential status for the assessment year 2024-25?
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