INCOME TAX - 1
RESIDENTIAL STATUS
PART -1
TAXABLE ENTITIES :
All taxable entities are divided into the following categories for the purpose of determining the
residential status:
1. An Individual
2. A Hindu Undivided Family
3. A Firm
4. A Company and
5. Every other person On
the basis of residence, the individual assessee persons are divided into three categories viz.
i) Resident and ordinarily resident
ii) Resident but not ordinarily resident
iii) Non-resident
However, in case of Firm, Company, Body of individuals and others there are only two
categories viz.
1. Resident
2. Non – Resident
RESIDENTIAL STATUS
PART -1
TAXABLE ENTITIES :
All taxable entities are divided into the following categories for the purpose of determining the
residential status:
1. An Individual
2. A Hindu Undivided Family
3. A Firm
4. A Company and
5. Every other person On
the basis of residence, the individual assessee persons are divided into three categories viz.
i) Resident and ordinarily resident
ii) Resident but not ordinarily resident
iii) Non-resident
However, in case of Firm, Company, Body of individuals and others there are only two
categories viz.
1. Resident
2. Non – Resident
