residential status tax..

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RESIDENCE AND TAX LIABILITY COMPILED BY:- AKRITI SRIVASTAVA MBA 3 RD SEM

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MEANING OF RESIDENTIAL STATUS RESIDENTIAL STATUS OF DIFFERENT ASSESEE IS DEFINED DIFFERENTLY ON THE BASIS OF PREVIOUS YEAR . RESIDENTIAL STATUS MAY CHANGE FROM YEAR TO YEAR. WHAT IS ESSENTIAL IS THE STATUS DURING PRIVIOUS YEAR AND NOT DURING ASSESSMENT YEAR.

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RESIDENTIAL STATUS IN PREVIOUS YEAR IMPORTANT POINTS DUAL RESIDENTIAL STATUS IS POSSIBLE DUTY OF ASSESSEE

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TYPES OF RESIDENTIAL STATUS FOR INDIVIDUAL AND HINDU UNDIVIDED FAMILY FOR FIRM , COMPANY ,AOP/BOI AND OTHER ARTIFICIAL JUDICIAL PERSON

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RESIDENTIAL STATUS OF INDIVIDUAL RESIDENT [SEC 6(1)] NON RESIDENT [SEC 2(30) ] ORDINARY RESIDENT NON ORDINARY RESIDEN T

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TEST TO DETERMINE RESIDENT OF INDIA IF HE IS IN INDIA DURING THE RELEVANT PREVIOUS YEAR FOR A PERIOD AMOUNTING IN ALL TO 182 DAYS OR MORE. IF HE IS IN INDIA FOR PERIOD OR PERIODS AMOUNTING IN ALL TO 365 DAYS OR MORE DURING THE FOUR YEAR PREECEDING THE RELEVANT PREVIOUS YEAR AND HE WAS IN INDIA FOR A PERIOD OR PERIODS AMOUNTING IN ALL TO 60 DAYS OR MORE IN THT RELEVANT PREVIOUS YEAR . OR

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TEST TO DETERMINE ORDINARY RESIDENT IF INDIA HE HAS BEEN RESIDENT OF INDIA (FULFILING AT LEAST ONE OF THE TEST TO BE RESIDENT) IN ATLEAST 2 PREVIOUS YEARS OUT OF 10 PREVIOUS YEARS IMMIDEATELY PRIOR TO PREVIOUS YEAR. HE HAS STAYED IN INDIA FOR ATLEAST 730 DAYS IN 7 PREVIOUS YEAR IMMEDIATELY PRECEDING THE PREVIOUS YEAR . AND

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TESTS IN INDIA FOR >OR= 730 DAYS IN 7 YEAR PRECCEDING P.Y . IN INDIA > OR = 60 DAYS IN P.Y AND > OR = 365 DAYS IN 4 YR PRECEEDING P.Y. RESIDENT OF INDIA IN ATLEAST 2 P.Y. IN 10 YR PRECEEDING P.Y. IN INDIA > OR = 182 DAYS IN P.Y. OR NOR RESIDENT NON RESIDENT YES YES YES YES NO NO NO NO BASIC CONDITIONS FURTHER

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RESIDENTIAL STATUS OF HUF ORDINARY RESIDENT NON ORDINARY RESIDEN T NON RESIDENT

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TEST FOR HUF IF CONTROL AND MANAGEMENT WAS WHOLLY OR PARTIALY IN INDIA DURING P.Y. IF KARTA BECOME NON ORDINARY RESIDENT IF CONTROL AND MANAGEMENT WAS WHOLLY OUTSIDE INDIA DURING P.Y. ORDINARY RESIDENT NON ORDINARY RESIDENT NON RESIDENT

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RESIDENTIAL STATUS OF COMPANY RESIDENT NON RESIDENT

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TEST FOR COMPANY IF IT IS INDIAN CO. AND CONTOL AND MANAGEMENT WAS WHOLLY SITUATED IN INDIA DURING P.Y. IF NOT THEN ORDINARY RESIDENT NON ORDINARY RESIDENT

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INCOME RECEIVED OR DEEMED TO BE RECEIVED IN INDIA TAXABLE TAXABLE TAXABLE INCOME EARNED IN INDIA TAXABLE TAXABLE TAXABLE INCOME EARNED AND RECEIVED OUTSIDE INDIA FROM A BUSINESS CONTROLLED OR PROFFESSIONAL SETUP IN INDIA . TAXABLE TAXABLE NOT TAXABLE RESIDENTIAL STATUS OR NOR NR TYPE OF INCOME INCEDENE OF TAX

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INCOME EARNED AND RECEIVED OUTSIDE INDIA FROM A BUSINESS CONTROLLED OR PROFFESSIONAL SETUP OUTSIDE INDIA . TAXABLE NOT TAXABLE NOT TAXABLE INCOME EARNED AND RECEIVED OUTSIDE INDIA FROM ANY OTHER SOURCES. TAXABLE NOT TAXABLE NOT TAXABLE INCOME EARNED AND RECEIVED OUTSIDE INDIA IN THE YEAR PRECEDING THE PREVIOUS YEAR..IF SAME IS REMITTED TO INDIA DURING THE CURRENT PREVIOUS YEAR. NOT TAXABLE NOT TAXABLE NOT TAXABLE INCEDENE OF TAX……

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ANY QUEREY ???