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No change in NRI rules will affect Indian working abroad | Paraice News

No change in NRI rules will affect Indian working abroad | Paraice News

New Delhi, 2 February (IANS). With regard to changes in NRI rules to curb tax evasion, the Finance Ministry has clarified that well-meaning Indian workers working abroad will not be affected by the new provision.

No change in NRI rules will affect Indian working abroad
No change in NRI rules will affect Indian working abroad | Paraice News

A day after the General Budget proposed a change in the rules to prevent non-resident Indians (NRIs) from tax evasion in India, the Finance Ministry gave clarification on how Indian workers working in other countries, including the Middle East, would be called They do not have to pay tax. They will not be affected by the new provision.

A finance ministry official said that the proposed provision is not intended to tax well-meaning Indian citizens working in other countries.

As per the earlier rules, Indian citizens who have been out of the country for more than 182 days were called NRIs, but according to the rule proposed in the budget, now they can get tax relief under NRI rules only after being out of the country for 241 days. is.

Amending the existing provision of income tax law, it has been proposed in the budget that if a citizen of India does not pay tax due to his residential or any other similar criteria in another country or region, then the provision of clause (1) Despite that he would be considered a resident of India in a previous year.

The Finance Ministry official said on Sunday that under the proposed provision, if an Indian citizen becomes a resident of India, he will not be charged income tax on the income received abroad if the income is not received from Indian business or profession.

Income tax experts say that the new NRI provision will discourage people from spending more time in India. Thus, the country will become less attractive to businessmen.
No change in NRI rules will affect Indian working abroad | Paraice News No change in NRI rules will affect Indian working abroad | Paraice News Reviewed by Admin on 05:14 Rating: 5

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