NISM Certifications · NISM-Series-X-B: Investment Adviser (Level 2) · Concepts in Taxation
Which of the following is a correct statement about the residential status of an individual for income tax purposes in India?
An individual is resident in India if present for 182 days or more in the previous year. Residential status depends on physical presence tests, not on citizenship, property ownership or the nationality of the employer.
- AAn individual is resident if present in India for 182 days or more in the previous yearCorrect
- BAn individual is resident only if he holds Indian citizenship
- CAn individual is resident if he owns property in India
- DAn individual is resident if his employer is an Indian company
Explanation
Residence depends on physical stay, not citizenship, property or employer. Presence in India for 182 days or more in the previous year makes an individual resident (basic condition). The other options are not tests of residence.
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