India - Income Tax Act 2010 - Saarc

I.T. ACT, 1961 1.1062Definitions.(i) a person residing in India for more than one hundred and eighty-two daysduring the course of the preceding financial year but does not include—(A) a person who has gone out of India or who stays outside India, in eithercase—(a) for or on taking up employment outside India, or(b) for carrying on outside India a business or vocation outside India,or(c) for any other purpose, in such circumstances as would indicate hisintention to stay outside India for an uncertain period;(B) a person who has come to or stays in India, in either case, otherwisethan—(a) for or on taking up employment in India, or(b) for carrying on in India a business or vocation in India, or(c) for any other purpose, in such circumstances as would indicate hisintention to stay in India for an uncertain period;(ii) any person or body corporate registered or incorporated in India,(iii) an office, branch or agency in India owned or controlled by a person residentoutside India,(iv) an office, branch or agency outside India owned or controlled by a personresident in India;(w) “person resident outside India” means a person who is not resident in India;SECTION 2 OF FORWARD CONTRACTS (REGULATION) ACT, 19522. In this Act, unless the context otherwise requires,—(a) “association” means any body of individuals, whether incorporated or not,constituted for the purpose of regulating and controlling the business of the saleor purchase of any goods;(b) “Commission” means the Forward Markets Commission established undersection 3;(c) “forward contract” means a contract for the delivery of goods and which is nota ready delivery contract;(d) “goods” means every kind of movable property other than actionable claims,money and securities;(e) “Government security” means a Government security as defined in the PublicDebt Act, 1944 (18 of 1944);(f) “non-transferable specific delivery contract” means a specific delivery contract,the rights or liabilities under which or under any delivery order, railway receipt,bill of lading, warehouse receipt or any other document of title relating theretoare not transferable;(g) “option in goods” means an agreement, by whatever name called, for thepurchase or sale of a right to buy or sell, or a right to buy and sell, goods in future,and includes a teji, a mandi, a teji-mandi, a galli, a put, a call or a put and call ingoods;(h) “prescribed” means prescribed by rules made under this Act;(i) “ready delivery contract” means a contract which provides for the delivery ofgoods and the payment of a price therefor, either immediately or within suchperiod not exceeding eleven days after the date of the contract and subject to