Muscat: Indian citizens who spent at least 240 days out of India will be considered NRIs are per the Income Tax Act, up from existing 182 days. As per the new rule, those who are staying in India for more than 120 days will be liable to pay tax for their earnings abroad. This comes after Finance Minister Nirmala Sitaraman announced the budget on Saturday.
Earlier, if a person who stayed aboard for more than 182 days had earned numerous tax reliefs in India. However, as per new rule,
if one stays for more than 120 days in India, you will be considered as resident of India and you will be taxed for the earnings abroad.
Revenue Secretary Ajay Bhushan Pandey on Saturday said that, “We have made changes in the Income Tax Act where if an Indian citizen stays out of the country for more than 182 days, he becomes a non-resident. So we’ve made some changes, now in order to become non-resident he has to stay out of the country for 240 days,” he was quoted as saying by ANI news agency.
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“Some people are residents of no country. They may be staying in different countries for certain number of days. So if any Indian citizen is not a resident of any country in the world, he’ll be deemed to be a resident of India and his worldwide income will be taxed,” Bhushan clarified.
