How can a person be a Resident for a source of income and non resident for another source of income?
I thought that Residential Status is only of the assessee...but section 6(5) of the Income Tax act has confused me.
This section provides that
"If a person is resident in India in a previous year relevant to an assessment year in respect of any source of income, he shall be deemed to be resident in India in the previous year relevant to the assessment year in respect of each of his other sources of income."
Please explain.
CAclubindia
