Join🔜 @commerceoptional

All students are advised to give special attentions to this subtopics. It ll help in next chapters and better understanding of Income tax. In previous year , 2 questions asked by UPSC from this subtopics of 15 marks. 😊
Join🔜 @commerceoptional

Join🔜 @commerceoptional

✅We happy to announce integrated guidance program for UPSC Commerce Optional for 2020.from 20th July 2019.
For more information contact @cadhananjay.

Commerce Optional (UPSC-IAS),
Target for 17/07

👆Above are subtopic for Commerce Optional Paper 1 of Taxation


✅Income Tax: Definitions; Basis of Charge
✅



Note- Students are advised to read only that subtopics for UPSC commerce Optional Preparation.

Join 🔜 @commerceoptional

😊 This will be very useful for students of Commerce Optional.
For Guidance Purpose Contact
CA Dhananjay Ojha (Chartered Accountant)
Contact @cadhananjay

Section 6 [Residence in India]

(I) Individuals [Resident and ordinarily resident/ Resident but not ordinarily resident/ non-resident]
The residential status of an individual is determined on the basis of the period of his stay in India.
Basic conditions:
(i) He must be present in India for a period of 182 days or more during the previous year
(ii) He must be present in India for a period of 60 days or more during the previous year and 365 days or more during the 4 years immediately preceding the previous year.
Cases where condition (ii) is not applicable:
(a) Where an Indian citizen who leaves India during the previous year for the purpose of employment outside India or as a member of the crew of an Indian ship;
(b) Where an Indian citizen or a person of Indian origin who, being outside India, comes on a visit to India during the previous year.

Additional conditions:

(1) He is a resident in at least 2 out of 10 previous years preceding the relevant previous year;
(2) His stay in India in the last 7 years preceding the relevant previous year is 730 days or more.

HUF [Resident and ordinarily resident/ Resident but not ordinarily resident/ non-resident]
A HUF would be resident in India if the control and management of its affairs is situated wholly or partly in India.
If the control and management of the affairs is situated wholly outside India, it would become a non-resident.
If the HUF is resident, then the satisfaction or otherwise of additional conditions by Karta would determine whether the HUF is resident and ordinarily resident or resident but not ordinarily resident
If Karta satisfies both the additional conditions [(1) and (2)] in (I) above, then the HUF would be ROR. Otherwise, the HUF would be RNOR.

Section 5 [Scope of Total Income]

Resident And Ordinarily Resident

Income received/ deemed to be received/ accrued or arisen/ deemed to accrue or arise in or outside India

In short, the global income is taxable.

Resident But Not Ordinarily Resident

Income which is received/ deemed to be received/ accrued or arisen/ deemed to accrue or arise in India;
AND
Income which accrues or arises outside India being derived from a business controlled in or profession set up in India.

Non-Resident

Income received/ deemed to be received/ accrued or arisen/deemed to accrue or arise in India.

👆🏻Above topics are related with Taxation subtopics of UPSC Commerce Optional
Join🔜 @Commerceoptional

👆 Test series Schedule of UPSC Commerce Optional for UPSC mains 2019 by Civil Service Gurukul.

Miles and Snow’s Organizational Strategies
http://www.free-management-ebooks.com/news/miles-and-snows-organizational-strategies/