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I had a doubt where the Remittance basis charge is applied as 30,000 for being a resident 7 out of 9 years and 60,000 for being a resident 12 out of 14 years.
What if they are a resident for the last 10 years ? what charge will be applied as they don’t fall in either of the above conditions
Thats an excellent question.
Firstly the actual rules for this are long and complex and nothing that you need to know for TX.
Secondly, you will never be asked a random number like this in the exam – it will either be between 7-9 or 12-14.
So please dont fret.
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