Residential Status – CS Executive Tax Laws

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Residential Status – CS Executive Tax Laws MCQs

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Rajendra a non-resident Indian in the previous year 2020-21 was in receipt of rent of house property located in Dubai of ₹ 27,50,000. The amount of rent was transferred and credited in the bank account of Rajendra maintained with SBI, Vadodara by the tenant quarterly. The Annual Letting Value (ALV) of the house located in Dubai subject to tax under the head Income from house property in A.Y. 2021 -22 shall be

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Central Board of Direct Taxes (CBDT) vide Circular No. 8 of 2017, dated 23rd February 2017 has clarified that the Place of Effective Management (POEM) provisions shall not apply to a company having turnover or gross receipts in a financial year of

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A person is deemed to be of Indian origin if he, or either of his parents or any of his grandparents, was born in

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In the case of a non-resident, which of the following income is not taxable in his hand:

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Agriculture income from agricultural land located in a foreign country is taxable in the case of:

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In the case of an individual who is not an ordinarily resident in India, the income chargeable to tax in India out of the following shall be:

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Which out of the following criteria determines the Place of Effective Management (POEM) in order to treat a foreign company as a resident in India (resident company) during the previous year as per guidelines issued by CBDT and the provisions contained under the Income-tax Act, 1961

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The income earned during the previous year is subject to tax under the Act on the basis of the residential status of an assessee. However, the residential status of an assessee every year.

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The following income of Ms Nargis who is a non-resident shall be included in her total income:

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John is a foreign citizen born in the USA. His father was born in Delhi in 1961 and his grandfather was born in Lahore in 1936 but his mother was born in the UK in 1964. John came to India for the first time on 1st June 2019 and stayed in India for 183 days and then left for the USA. His residential status for the AY 2020-2021 shall be:

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Mr Ajay (age 40) resident of India earned an agricultural income of ₹ 1 lakh from land situated in Sri Lanka. His total income in India amounts to ₹ 7 lakhs. The tax liability would be:

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In the case of an individual who is not ordinarily resident the following income is chargeable to tax:

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Mr Alok Chatterjee born and brought up in India since 1972, left for Singapore on 10.10.2019 for the purpose of employment. His residential status would be:

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Thomas Inc. of Australia borrowed money from various companies in Australia for doing business in India by the name ANS Co. Ltd., Mumbai. Thomas Inc. paid interest of ₹ 500 lakhs (converted) to various lenders. The amount of interest paid:

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When a capital asset located in India is sold by a non-resident to another non-resident at a place outside India, the capital gain is taxable:

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Mr Ramji (age 55) is Karta of HUF doing the textile business at Nagpur. Mr Ramji is residing in Dubai for the past 10 years and visited India for 20 days every year for filing the income tax return of HUF. His two major sons take care of the day to day affairs of the business in India. The residential status of HUF for the Assessment Year 2021-22 is:

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Mr Rajiv, born and brought up in India left for employment in Belgium on 15.10.2020 He has never gone out of India, previously. What is his residential status for the Assessment Year 2021-22?

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Satish brought into India, in the previous year, past untaxed income which was earned in the UK The income will be taxable if Satish is:

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A company incorporated outside India having its place of effective management situated in India in the previous year will be treated as:

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Alpha Ltd. is an Indian company. It carries its business in Delhi and London. Total control and management of the company is situated in London. More than 85% of its business income is from the business in England. If so, its residential status will be:

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Arun, a non-resident of India celebrated his 80th birthday on 10th October 2020. If his total income for the previous year is ₹ 6,00,000 his income-tax liability for the previous year 2020-21 is:

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Income of non-resident, when attributed from operations in India relating to the following, is taxable in India:

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HUF of Ashwin consisting of himself, his wife and 2 sons are assessed to income-tax. The residential status of HUF would be non-resident, when:

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The residential status of an Indian company is resident for the year

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Paresh, a software engineer at ABC Ltd. left India on 10th August 2020 for the treatment of his wife. For income- tax purpose, his residential status for the AY 2021-22 will be:

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If Karta is resident and ordinarily resident in India but control and management of HUF are situated partly outside India in the previous year, the HUF is:

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Abhay earns the following income during the previous year ended 31st March 2021:

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Following additional conditions are to be satisfied by a person to be resident and ordinarily resident in India:

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