Mr. Anshul, aged 54 years, an Indian citizen, is working as Assistant Manager in ABC India Ltd. He is getting basic salary of 58,000 per month. He…

CA Intermediate · Taxation · MTP · September 2024
Mr. Anshul, aged 54 years, an Indian citizen, is working as Assistant Manager in ABC India Ltd. He is getting basic salary of 58,000 per month. He used to travel frequently out of India for his office work. He left India from Delhi Airport on 5th October, 2023 and returned to India on 2nd April, 2024. For previous year 2023-24, following information are relevant; (a) Dearness Allowance - 10% of Basic Pay (considered for retirement purposes) (b) Bonus -98,000 (c) Medical allowance paid during P.Y. 2023-24 amounting to 60,000 (d) He was also reimbursed medical bill of his mother amounting to 15,000. (e) He was also reimbursed salary of house servant of 4,000 per month. (f) Professional tax paid by employer amounting to 2,400. (g) 400 equity shares allotted by ABC India Ltd. at the rate of 250 per share against fair market value of share of 350on the date of exercise of option. (h) Mr. Anshul has exercised the option to shift out of the default tax regime under section 115BAC. Based on the facts of the case scenario given above, choose the most appropriate answer to the following questions:
(A) Resident but can't determine resident and ordinarily resident or resident but not ordinarily resident from the given information
(B) Non-Resident
(C) Resident but not ordinarily resident
(D) Resident and ordinarily resident

Suggested Answer and Working Notes:

Correct Answer: Option (A)

Resident but can't determine resident and ordinarily resident or resident but not ordinarily resident from the given information

Topics: Paper 3B: Goods and Services Tax, Paper 3A: Income Tax Laws

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