Saturday, August 18, 2012

Question of the day...

X, an individual left India for the first time during 2011-12 for starting his own business in U.K. During the financial year 2011-12 he stayed in India only for 88 days. The Assessing officer treats him as resident for AY 2012-13 as his stay is more than 60 days in the current previous year and more than 365 days during the four previous years preceding the current  previous year. Will you accept the contention of the Assessing Officer? [Answer will be posted after 2 days]

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