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Home BUDGET Spending plan 2020: Govt clarifies on Finances proposal to tax NRIs in...

Spending plan 2020: Govt clarifies on Finances proposal to tax NRIs in India

The government has clarified, via a push launch that in scenario of an Indian citizen who turns into considered resident of India below the alterations proposed by UnionBudget 2020, income attained exterior India by him/her shall not be taxed in India until it is derived from an Indian business or profession. Essential clarification, if necessary, shall be included in the applicable provision of the law.
The clarification has appear following the Finance Bill, 2020 has proposed that an Indian citizen shall be deemed to be resident in India, if he is not liable to be taxed in any nation or jurisdiction. This is an anti-abuse provision due to the fact it is recognized that some Indian citizens shift their continue to be in low or no tax jurisdiction to stay away from payment of tax in India, claims the launch issued currently.
The new provision is not meant to contain in tax web all those Indian citizens who are bonafide workers in other nations around the world. The intrepretation of the proposed provision that those Indians who are bonafide workers in other nations, which includes in Middle East, and who are not liable to tax in these nations will be taxed in India on the income that they have acquired there, is not correct, as per the push launch.


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