COVID-19: Relaxation on Residential Status under IT Act

COVID-19: Relaxation on Residential Status under Income Tax Act, 1961

The Central Government vide Circular dated May 8, 2020 has provided relaxation on residential status of the individuals under Income-tax Act, 1961 Section 6 of the Income Tax Act deals with the provisions determining the residential status of a person based on his/her stay in India. Any Individual who stays for a period of 182/ 60 days (Subject to other conditions) or more in any year becomes resident of India and liable to become taxable […]