Finance Minister of India has announced reduction in residency limit for Indian citizens to set up o...........

Current GK (IBPS-CL) Budgeting and Fiscal policy

Finance Minister of India has announced reduction in residency limit for Indian citizens to set up one-person companies (OPC) from 182 days to________

110 days

120 days

130 days

140 days

150 days

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Explanation:

Union Budget has made space for easing norms around setting up of One Person Company (OPC) by reducing the residency limit of NRIs from 182 to 120 days.
• Earlier, only Indian resident citizens were allowed to form one person companies in India