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Clarification regarding provision on tax residency of NRIs in Financial Bill 2020

Posted on: February 06, 2020 | Back | Print

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 country or jurisdiction. The Press Release issued by the Ministry of Finance clarifies that in case of such deemed residency in India of Indian citizens, income earned outside India shall not be taxed in India unless it is derived from an Indian business or profession. Follow the link for further details: