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Query Details

Asked by Pankaj on :Jul. 03, 2018

Does residential status make any difference in co…

Does residential status make any difference in computing tax liability of individual?

Does residential status make any difference in computing tax liability of individual?

0

Jeeba Jul. 03, 2018

Yes, it does..

Tax liability is raised when you receive or earn, or deemed to receive or deemed to earned and the tax is charged based on the following circumstances.
a). Your residential status as per the Income Tax Act
B. Nature of income that you earn or receive.

The residential status of individual obviously has significance on assessment of total income and computation of tax liability.

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