What is the primary factor that determines an individual's residential status for income tax purposes?

The number of days they have physically stayed in India.

What determines the scope of an individual's total income in the Income Tax Act of India?

Their nationality and domicile.

Their residential status, place of accrual or receipt of income, and time of accrual or receipt.

The nature of their income sources.

In the context of determining residential status, why can an Indian citizen be considered a non-resident and an American citizen be considered a resident in India?

The Income Tax Act is based on nationality.

The Income Tax Act considers the total income earned in India.

The Income Tax Act only considers the physical presence in India.

The Income Tax Act is not related to citizenship.

What is the significance of the "previous year" in determining an individual's residential status?

The previous year determines the person's nationality.

The previous year determines the person's total income.

The residential status is determined with reference to the previous year.

The previous year determines the assessment year.

What is the criterion for an individual to be considered a "Resident of India" under Section 6(1) of the Income Tax Act?

182 days or more of physical stay in India in the previous year.

60 days or more of physical stay in India in the previous year.

182 days or more of physical stay in India in the previous year OR 60 days or more in the previous year and 365 days or more in the preceding 4 years.

365 days or more of physical stay in India in the previous year.

Under what circumstances is an individual considered a "Not Ordinarily Resident" (NOR)?

If they have been a non-resident in India for 9 out of the 10 preceding years.

If they have been in India for 729 days or less in the preceding 7 years.

If they have a total income exceeding 15 lakhs and stay in India for 120 days or more but less than 182 days.

What is the scope of income under the head "Income from House Property"?

Income earned from all types of properties, including residential and commercial.

Income from letting out residential properties only.

Income from letting out commercial properties only.

Income from any trade, commerce, manufacture, or profession.

What is the significance of the term "Deemed Indian Resident"?

It refers to individuals who are citizens of India but are living abroad.

It refers to individuals who have been non-residents for several years.

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.

It refers to individuals who are citizens of India and have no taxable income.

What is the key criterion for determining the scope of an individual's total income from capital gains?

The nature of the capital asset.

The amount of capital gains earned.

The time period within which the capital gains were earned.

Whether the individual is a resident or non-resident.

Under what circumstances is an individual's income considered "Income from Other Sources"?

When the income is received from a foreign source.

When the income cannot be categorized under any other specific head of income.

When the income is received from a foreign business or profession.

When the income is received from a rental property.

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