Shashank (Article) (65 Points)
10 September 2009Since we determine the residential status of an individual basing on the total number of days he stays in India(and not in respect of his number of days with respect to different sources of income), why do we need the provisions of Sec. 6(5) which states that when a person is a resident for one source of income , he becomes a resident for all other sources of income?
CA-ASPIRANT
(CA-STUDENT )
(650 Points)
Replied 11 December 2009
| Originally posted by :Shashank | ||
| " | Since we determine the residential status of an individual basing on the total number of days he stays in India(and not in respect of his number of days with respect to different sources of income), why do we need the provisions of Sec. 6(5) which states that when a person is a resident for one source of income , he becomes a resident for all other sources of income? | " |
In view of Section 6(5) if a person is resident in india for one of the sources of income, he will be deemed to be resident in india for all other sources of income in the same assessmkent year.
Residential status is dependent on No of days staying not on the source of income
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