Finance Minister Clarifies Tax on Income for NRIs

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When the Union Budget was being presented in the parliament on February 1, 2020, by Finance Minister Nirmala Sitharaman, it was initially thought that Indians not paying tax abroad, will have to do so in India.

Finance Minister Clarifies Tax on Income for NRIs

However, on Sunday, a clarification was provided that the income earned by an NRI outside India, will not be taxed in India unless it is from an Indian business or profession as per a report.

The Budget also proposed to reduce the period of stay in India to 120 days from 182 days earlier for persons of Indian origin to be deemed as non-resident Indians.

At present, if an Indian or a person of Indian origin (PIO) managed his stay in the country such that he/she remained a non-resident for eternity, he/she was not liable to pay tax on his global income in India, further states the report.

அரசியல், விளையாட்டு, நாட்டுநடப்பு, குற்ற சம்பவங்கள், வர்த்தகம், தொழில்நுட்பம், சினிமா, வாழ்க்கை முறை என பலதரப்பட்ட சுவாரஸ்யமான செய்திகளை தமிழில் படிக்க இங்கு கிளிக் செய்யவும்      

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