Question:
What is the condition prescribed under Section 6 of the Income Tax Act, 1961 for an individual to be classified as a ‘Resident’ in India for tax purposes?
What is the condition prescribed under Section 6 of the Income Tax Act, 1961 for an individual to be classified as a ‘Resident’ in India for tax purposes?
Updated On: Dec 14, 2024
- The individual stays in India for 90 days or more during the relevant financial year.
- The individual stays in India for 182 days or more during the relevant financial year.
- The individual has stayed in India for at least 150 days in the past 4 years.
- The individual must own property in India.
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The Correct Option is B
Solution and Explanation
Under Section 6 of the Income Tax Act, an individual is considered a resident of India if they stay in the country for 182 days or more during the relevant financial year.
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