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      Question

      Under the Income Tax Act, "Residential Status" is

      determined for:
      A Every Financial Year. Correct Answer Incorrect Answer
      B Once in a lifetime. Correct Answer Incorrect Answer
      C Every 5 years. Correct Answer Incorrect Answer
      D Only at the time of birth. Correct Answer Incorrect Answer
      E Only for government employees. Correct Answer Incorrect Answer

      Solution

      Residential status (Resident/Non-Resident) can change every year based on the number of days spent in India in that specific year.

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