Din - residential status
This query is : Resolved
30 December 2014
Can any one explain how the residential status of a person is determined for DIR -3 application? As per IT Act or FEMA....?
30 December 2014
The residential status of a person is dependent on his stay in India during previous year i.e. the 182 day rule.
It coincides with the regulations of Income Tax Act and not FEMA.
It coincides with the regulations of Income Tax Act and not FEMA.
30 December 2014
Thank you. If a person is resident but not ordinarily resident then,
whether to be treated as NON RESIDENT for DIR - 3 Purpose?
If the person becomes RESIDENT after 6 months then what proof to be submitted for changes in DIR?
whether to be treated as NON RESIDENT for DIR - 3 Purpose?
If the person becomes RESIDENT after 6 months then what proof to be submitted for changes in DIR?
30 December 2014
For a Not Ordinary Resident, the status shall depend over the period of residence during the previous year. That means if an individual has stayed in India for 182 days or more during the previous year, he should be deemed to be a Resident Director, irrespective of whether he is an NOR under Income Tax.
However, if a person is a resident under Income Tax, due to satisfaction of second basic condition: of 60 days, he will deemed to be a Non Resident.
(The regulation for Resident Director can be found u/s 149 (3) which talks about the 182-day rule)
For any changes in the residential status, DIR 6 will be filed along with the address proof. In case of a foreign citizen, you should attach the residential permit.
However, if a person is a resident under Income Tax, due to satisfaction of second basic condition: of 60 days, he will deemed to be a Non Resident.
(The regulation for Resident Director can be found u/s 149 (3) which talks about the 182-day rule)
For any changes in the residential status, DIR 6 will be filed along with the address proof. In case of a foreign citizen, you should attach the residential permit.
30 December 2014
Thank you very much for your quick reply. In my case, my client has been staying in india since october 2012. So, in DIR-3 the residential status can be mentioned as resident. Is that right?
30 December 2014
Absolutely.
30 December 2014
Thank you very much for your valuable and timely reply Mr.Kapil Kaushik.
30 December 2014
Please don't mention it mate.
:)
:)
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