Thursday, February 3, 2011

When an HUF will be resident in India?

HUF is resident in India, it is to be determined.
(A)    Resident and ordinary resident.
(B)    Resident but not ordinary resident.
                 a)    Resident and ordinary resident in India.
                 b)    The HUF shall be said to be resident and ordinary resident in India when fulfilling both the     following conditions :
     i)    he (Karta) must be resident at least 2 out of 10 P.Y immediately preceding the relevant P.Y.
     ii)    he (Karta)must be resident in India for atleast 730 days during 7 P.Y preceding the relevant P.Y.
         When HUF not fulfill the following conditions are as mentioned above; hence he is said to be resident but not ordinary resident in India.
More Detail:-http://www.gurukpo.com

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