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:B
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.