Question
Legal Studies Question on Tax Law
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?
A
The individual stays in India for 90 days or more during the relevant financial year.
B
The individual stays in India for 182 days or more during the relevant financial year.
C
The individual has stayed in India for at least 150 days in the past 4 years.
D
The individual must own property in India.
Answer
The individual stays in India for 182 days or more during the relevant financial year.
Explanation
Solution
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.