What is the residential status of an individual who has stayed in India for 120
Practice Questions
Q1
What is the residential status of an individual who has stayed in India for 120 days in the current financial year and 365 days in the preceding four years?
Resident
Non-Resident
Resident but Not Ordinarily Resident
Ordinarily Resident
Questions & Step-by-Step Solutions
What is the residential status of an individual who has stayed in India for 120 days in the current financial year and 365 days in the preceding four years?
Step 1: Understand the criteria for residential status in India. An individual is considered a resident if they meet either of the following conditions: they stay in India for 60 days or more in the current financial year, and 365 days or more in the preceding four years.
Step 2: Check the individual's stay in the current financial year. The individual has stayed for 120 days, which is more than 60 days.
Step 3: Check the individual's stay in the preceding four years. The individual has stayed for 365 days, which meets the requirement.
Step 4: Since the individual meets both conditions, they are classified as a Resident in India.
