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What is the residential status of an individual who has stayed in India for 182
What is the residential status of an individual who has stayed in India for 182 days or more during the financial year?
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Q1
What is the residential status of an individual who has stayed in India for 182 days or more during the financial year?
Non-resident
Resident but not ordinarily resident
Ordinarily resident
Not applicable
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An individual who has stayed in India for 182 days or more during the financial year is considered a resident.
Questions & Step-by-step Solutions
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Q
Q: What is the residential status of an individual who has stayed in India for 182 days or more during the financial year?
Solution:
An individual who has stayed in India for 182 days or more during the financial year is considered a resident.
Steps: 4
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Step 1: Understand the term 'financial year'. In India, the financial year runs from April 1 to March 31 of the following year.
Step 2: Check the number of days the individual has stayed in India during this financial year.
Step 3: If the individual has stayed in India for 182 days or more during this period, they meet the criteria.
Step 4: Conclude that the individual is considered a resident of India based on this stay duration.
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