HUF of Ashwin consisting of himself, his wife and 2 sons is assessed to income-tax. The residential status of HUF would be non-resident, when

CS Executive · Tax Laws and Practice · PYQS · December 2015
HUF of Ashwin consisting of himself, his wife and 2 sons is assessed to income-tax. The residential status of HUF would be non-resident, when
(A) The management and control of its affairs is wholly in India
(B) The management and control of its affairs is wholly outside India
(C) The status of karta is non-resident for that year
(D) When majority of the members are non-residents.

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax Act, 1961

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