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What are the provisions for Residential status of an individual under income tax act 1961?
Wiki User
∙ 12y ago
Wiki User
∙ 12y ago
Under the Income Tax Act 1961, an individual can be classified as a resident or non-resident based on the number of days present in India during the financial year. If the individual is present in India for 182 days or more in a financial year, or for 60 days or more in the relevant financial year and 365 days or more in the preceding four financial years, they are considered a resident. If not, they are classified as a non-resident. There are additional provisions for determining residential status for certain categories of individuals such as Indian citizens working abroad or crew members.
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What has the author Deborah A Lasher written?
Deborah A. Lasher has written: 'Individual income tax paid in 1979 by residents and nonresidents and by filing status' -- subject(s): Income tax 'Individual income tax paid in 1977 and 1978 by residents and nonresidents' -- subject(s): Income tax 'Residential fuel, residential fuel conservation, and individual income tax credits claimed in 1979' -- subject(s): Income tax, Tax credits
What are the Rules for determining residential status of an individual?
Bal......
Categories of residential status in income tax?
That is not a term or concept in US tax. Individual or corporate, or Partnership are, and of course, that just depends if your a person/family, corporation or partnership.
Why is the residential status of an assessee important for income tax purpose?
The residential status of an assessee is important for income tax purpose for following reasons. 1) It is important to make sure that the person being assessed belongs to a particular country during particular period and is not able to evade the tax. 2) Tax incidence or Tax burden on an assessee depends on his residential status.
What is income mobility?
Income mobility is also known as an economic mobility. It is the ability of an individual or family to improve on the present economic status.
What would be the status code for an individual and HUF while filing Income Tax Return manually?
I think you are asking for status code to write in acknowledgement. it is filing status code... you can get them form instructions manual....
Which question is used to ask about residential status?
Where are you from
What filing status should you use for your 2005 taxes on form1040EZ?
Only the individual that needs this information and ask this question would have and know all of the necessary information that is needed to determine a filing status on any of the individual tax years income tax returns.
Why does an individual's marital status has an effect on disease?
Why an individual's marital status has an effect on disease
An individuals socioeconomic status includes what?
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How does one amend an already sent return and change the filing status?
To correct an error on the original filed income tax return you will have to use the 1040X Amended Individual Income tax return available by using the below related link.
