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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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