THE CO..... act 2013

only the natural person who is an Indian citizen and resident in in India ( the person who stays in India for a period of not less than 120 days* during immediately preceding one financial year* above 2 line can any one explain that start point which I as marked in above pls

Thread Starter

Bala Chandar

CA Foundation

★ 5K+

25-Nov-21 12:08

120 days??? Must be 182 days

Miradevi S

CA Final

★ 14K+

25-Nov-21 12:15

no as per amendment it was changed ....... it should be 120 days only sister can you tell me that star point

Thread Starter

Bala Chandar

CA Foundation

★ 5K+

25-Nov-21 12:21

Natural person means a living human being should be an Indian citizen and should stay in India for minimum of 120 days

Miradevi S

CA Final

★ 14K+

25-Nov-21 12:32

ok sister after that marked star point i got confused *during immediately one financial year this was my doubt

Thread Starter

Bala Chandar

CA Foundation

★ 5K+

25-Nov-21 12:40

That means For example if Mr x is an Indian citizen and period of his stay in India is counted for preceeding financial year means previous Yr ie 20-21

Miradevi S

CA Final

★ 14K+

25-Nov-21 12:44

ok so...... for incorporate OPC the member should be indian citizen as well as resident of India (i.e ) i am bala i want to incorporate a OPC means then i should be indian citizen and i was stayed in india for a period of 120 days in preceding financial year of 1 April to 31 mar... am I right sister

Thread Starter

Bala Chandar

CA Foundation

★ 5K+

25-Nov-21 12:51

Yes bro

Miradevi S

CA Final

★ 14K+

25-Nov-21 12:55

tq so much all the best for you and your ca inter also bye sister

Thread Starter

Bala Chandar

CA Foundation

★ 5K+

25-Nov-21 15:36

Same to you bro all the best :)

Miradevi S

CA Final

★ 14K+

25-Nov-21 17:51