CA INTER RESIDENTIAL STATUS MOST IMPORTANT MCQ'S OBJECTIVE QUESTIONS

CA INTER PAPER - 4(A) INCOME TAX

RESIDENTIAL STATUS MOST IMPORTANT OBJECTIVE QUESTION

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1. Residential status is to be determined for:

(A) previous year
(B) assessment year
(C) accounting year
(D) both previous year and assessment year

Answer - (A)

2. Incomes which accrue or arise outside India but are received directly into India are taxable in case of:

(A) resident only
(B) both ordinarily resident and not ordinarily resident
(C) non-resident
(D) all the assessees

Answer - (D)

3. Income deemed to accrue or arise in India is taxable in case of

(A) resident only
(B) both ordinarily resident and not ordinarily resident
(C) non-resident
(D) all the assessees

Answer - (D)

4. Income which accrue or arise outside India from a business controlled from India is taxable in case of:

(A) resident only
(B) not ordinarily resident only
(C) both ordinarily resident and not ordinarily resident
(D) all the assessees.

Answer - (C)

5. Income which accrue or arise outside India and also received outside India is taxable in case of:

(A) resident only
(B) not ordinarily resident
(C) both ordinarily resident and not ordinarily resident
(D) none of the above

Answer - (A)

6. Total income of a person is determined on the basis of his:

(A) residential status in India
(B) citizenship in India
(C) none of the above
(D) both of the above

Answer - (A)

7. R was born on 5th April, 1991 in India & he later on took the citizenship of U.S.A. Neither his parents nor his grandparents were born in divided/undivided India. R in this case shall be:

(A) citizen of India
(B) person of India origin
(C) a foreign national
(D) none of the above

Answer - (C)

8. R was born in England, his parents were born in India in 1951. His grandparents were born in South Africa. R shall be:

(A) a person of Indian origin
(B) a foreign national
(C) citizen of India
(D) none of these

Answer - (B)

9. R was born in India in 1989. His father was born in India in 1949 and his mother was born in England. His grandfather was born in England & his grandmother was born in South Africa. The parents of R along with R took the citizenship of England. R is:

(A) citizen of India
(B) person of Indian origin
(C) foreign national
(D) none of these

Answer - (C)

10. R was born in India in 1988. His parents were born in India in 1951. His grandfather was born in Lahore in 1936 but his grandmother was born in England in 1940. R will be:

(A) a citizen of India
(B) person of Indian origin
(C) foreign national
(D) none of these

Answer - (A)

11. R, a person of Indian origin visited India on 2.10.2022 and plans to stay here for 185 days. During 4 years prior to previous year 2022-23, he was in India for 750 days. Earlier to that he was never in India. His total income (excluding from foreign sources) was Rs. 25,00,000. For assessment year 2023-24, R shall be:

(A) resident and ordinarily resident in India
(B) "resident but not ordinarily resident in India"
(C) non-resident
(D) none of the above

Answer - (B)

12. R, a citizen of India left India for U.S. on 16.8.2022 for booking orders on behalf of an Indian company for exporting goods to U.S. He came back to India on 5.5.2023. He had been resident in India for the past 10 years. For assessment year 2023-24, R shall be:

(A) resident and ordinarily resident in India
(B) "resident but not ordinarily resident in India"
(C) non-resident
(D) none of the above

Answer - (A)

13. R, a citizen of India is employed on an Indian ship. During the previous year 2022-23 he leaves India for Germany on 15.9.2022 for holidays and returned on 1.4.2023. He had been non-resident for the past 3 years. Earlier to that he was permanently in India. For assessment year 2023-24, R shall be:

(A) resident and ordinarily resident in India
(B) resident but not ordinarily resident in India
(C) non-resident in India.
(D) none of the above

Answer - (A)

14. R, a citizen of India residing outside India, comes on a visit to India during the previous year 2022-23 for a period of 121 days. He is not liable to tax in any other country as he keeps travelling from one country to another and majorly resides in tax heaven country. His total income excluding income from foreign sources is Rs. 21,00,000. For assessment year 2023-24, R shall be:

(A) resident and ordinarily resident in India
(B) resident but not ordinarily resident in India
(C) non-resident
(D) incomplete information

Answer - (B)

15. R Ltd., is an Indian company whose place of effective management is situated outside India. R Ltd., shall be:

(A) resident in India
(B) non-resident in India
(C) not ordinarily resident in India
(D) resident and ordinarily resident in India

Answer - (A)

16. R Ltd., is registered in U.K. The place of its effective management in the previous year is in India. R Ltd., shall be:

(A) resident in India
(B) non-resident in India
(C) not ordinarily resident in India
(D) resident and ordinarily resident in India

Answer - (A)

17. R, a foreign national visited India during previous year 2022-23 for 180 days. Earlier to this he never visited India. R in this case shall be:

(A) resident in India
(B) non-resident in India
(C) not ordinarily resident in India
(D) resident and ordinarily resident in India

Answer - (B)

18. R, a foreign national but a person of Indian origin visited India during previous year 2022-23 for 181 days. His total income (excluding from foreign sources) was Rs. 14,00,000. During 4 preceding previous years he was in India for 400 days. R shall be:

(A) resident in India
(B) non-resident in India
(C) not ordinarily resident in India
(D) resident and ordinarily resident in India

Answer - (B)

19. Dividend paid by an Indian company outside India is:

(A) taxable in India in the hands of the recipient
(B) exempt in the hands of recipient
(C) taxable in the hands of the company and exempt in the hands of the recipient
(D) taxable both in the hands of the company and the recipient

Answer - (A)

20. Where a non-resident has any income from a business connection in India, such income:

(A) shall be taxable in India as it accrues or arises in India
(B) shall be taxable in India as it is deemed to accrue or arise in India
(C) shall not be taxable as it accrues or arises outside India
(D) none of the above

Answer - (B)

21. Where a non-resident has a business connection in India but its operation are confined to purchase of goods in India for the purpose of export, such income shall—

(A) be taxable in India as it is deemed to accrue or arise in India
(B) not be taxable in India as it shall not be deemed to accrue or arise in India
(C) be taxable as it is accrues or arises in India
(D) be taxable in all cases

Answer - (B)

22. Royalty paid by a resident in India to a non-resident outside India—

(A) shall be taxable in India in the hands of non-resident unless it is paid for the acquisition of any right/information/property used for the purpose of business or profession carried on outside India.
(B) shall be taxable in India whether such right/information/property for which royalty was paid, was used by the resident for the purpose of carrying on business or profession in India or outside India.
(C) shall not be taxable in India.
(D) none of the above

Answer - (A)

23. Fee for technical services paid outside India by a non-resident in India to a nonresident in India shall—

(A) not be taxable in India;
(B) be taxable in India provided the know-how for which royalty was paid, was used for the purpose of carrying on any business or profession or earning a source of income in India.
(C) be taxable in India provided the know-how, for which royalty was paid, was used for the purpose of carrying on any business or profession in India.
(D) none of the above

Answer - (B)

24. Interest payable outside India by a non-resident in India to a non-resident in India shall—

(A) not be taxable in India
(B) be taxable in India provided the interest is paid in respect of money borrowed and used for a business or profession carried on in India or earning from any source of income in India
(C) be taxable in India provided the interest is paid in respect of money borrowed and used for a business or profession carried on in India
(D) none of the above

Answer - (C)

25. Gift of money amounting to Rs. 2,00,000 made by a resident on 15.06.2021 to a non-resident outside shall be

(A) exempt
(B) be fully taxable in the hands of the resident
(C) taxable to the extent of Rs. 1,50,000
(D) fully taxable in the hands of non-resident

Answer - (A)

26. Gift of money amounting to Rs. 2,00,000 made by a resident on 16.08.2021 to a non-resident outside India shall be

(A) exempt
(B) be fully taxable in the hands of the resident
(C) taxable to the extent of Rs. 1,50,000
(D) fully taxable in the hands of non-resident

Answer - (D)

27. Gift of movable property valuing Rs. 4,00,000 made by a resident on 16.08.2021 to a non-resident outside India shall be

(A) exempt
(B) be fully taxable in the hands of the resident
(C) taxable to the extent of Rs. 3,50,000
(D) fully taxable in the hands of non-resident

Answer - (A)