Math, asked by bijojinu517, 2 months ago

Explain the following terms Resident individual and Resident Company? Explain in detail.

Answers

Answered by hemalatakhomane02

0

Answer:

Residential status is a term coined under Income Tax Act and has nothing to do with nationality or domicile of a person. An Indian, who is a citizen of India can be non-resident for Income-tax purposes, whereas an American who is a citizen of America can be resident of India for Income-tax purposes.

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