How do you determine te residential status of different assessee?
Answer (1)
18th Feb, 2022
hey there
The residential status of an assessee is determined with reference to his residence in previous year. Residential status during the assessment year is immaterial. It is pertinent to note that residence and citizenship are two different concepts hence should not be mixed for the purpose of taxation.
Assessees are of different kinds they can be individuals, Hindu Undivided Family, firms, an association of persons, companies, local authorities, and artificial juridical person. Residence of a person may vary from year to year. He can be ordinary resident in one year, non-ordinary resident in the other and yet non-resident in the third year.
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