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Mr higgins a foreign cricketer comes to india for 100 days every year since the financial year 2013 to 2014.financial residential for the assessment year 2024 to 25?
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Mr higgins a foreign cricketer comes to india for 100 days every year ...



Residential Status for Assessment Year 2024-25

Mr. Higgins' Tax Residency Status:
- Mr. Higgins is a foreign cricketer who comes to India for 100 days every year.
- He has been doing this since the financial year 2013-2014.
- To determine his residential status for the assessment year 2024-25, we need to consider his presence in India for the current financial year.

Residential Status Criteria:
- According to the Income Tax Act, an individual is considered a resident in India if they satisfy any of the following conditions:
- They are in India for 182 days or more in the current financial year.
- They are in India for 60 days or more in the current financial year and have been in India for 365 days or more in the 4 preceding years.

Mr. Higgins' Residential Status:
- Since Mr. Higgins comes to India for 100 days every year, he does not meet the criteria to be considered a resident in India based on the number of days present.
- Therefore, Mr. Higgins would be considered a non-resident for the assessment year 2024-25.

Tax Implications for Mr. Higgins:
- As a non-resident, Mr. Higgins would be subject to different tax rules compared to residents.
- Income earned by him in India would be taxed at different rates and may be subject to withholding tax provisions.
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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 foreign cricketer comes to india for 100 days every year since the financial year 2013 to 2014.financial residential for the assessment year 2024 to 25?
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Mr higgins a foreign cricketer comes to india for 100 days every year since the financial year 2013 to 2014.financial residential for the assessment year 2024 to 25? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Mr higgins a foreign cricketer comes to india for 100 days every year since the financial year 2013 to 2014.financial residential for the assessment year 2024 to 25? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr higgins a foreign cricketer comes to india for 100 days every year since the financial year 2013 to 2014.financial residential for the assessment year 2024 to 25?.
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