Advanced MCQs on Residential Status

Advanced MCQs on Residential Status

12th Grade

10 Qs

quiz-placeholder

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Advanced MCQs on Residential Status

Advanced MCQs on Residential Status

Assessment

Quiz

Professional Development

12th Grade

Medium

Created by

Sashwat Sinha

Used 1+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following conditions must be satisfied for an individual to qualify as a resident in India for tax purposes?

(A) Present in India for 182 days or more in the previous year.

(B) Present in India for 60 days or more in the previous year and 365 days or more in the preceding four years.

(C) Either (A) or (B)

(D) Both (A) and (B)

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

An individual who is an Indian citizen leaving India for employment abroad is considered a resident only if present in India for:

(A) 60 days or more in the previous year

(B) 182 days or more in the previous year

(C) 240 days or more in the previous year

(D) None of the above

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following incomes is taxable in India irrespective of the taxpayer's residential status?

(A) Income earned in India

(B) Income earned outside India but received in India

(C) Income earned and received outside India by a non-resident

(D) Both (A) and (B)

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following individuals would be considered a non-resident in India?

(A) An Indian citizen who visits India for 100 days in the previous year and has stayed in India for 300 days in the last four years.

(B) An Indian citizen who stays in India for 200 days in the previous year.

(C) A foreign national residing in India for 182 days in the previous year.

(D) None of the above

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the key difference between a Resident but Not Ordinarily Resident (RNOR) and a Resident and Ordinarily Resident (ROR)?

(A) RNOR is taxed only on income earned in India.

(B) ROR is taxed on global income.

(C) Both (A) and (B)

(D) None of the above

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is considered 'Income Deemed to Accrue or Arise in India'?

(A) Interest on a fixed deposit in a foreign bank

(B) Rent received from property located in India

(C) Salary earned by a foreign employee working abroad

(D) Profit on sale of foreign shares

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A foreign company is treated as a resident in India if:

(A) It has a branch in India

(B) Its turnover in India exceeds ₹50 lakh

(C) Its place of effective management (POEM) is in India

(D) It pays taxes in India

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