Business »  Topic »  Big Story | Attention NRI: Here’s how Budget 2020 impacts you

Big Story | Attention NRI: Here’s how Budget 2020 impacts you


The recent Budget set the cat among the non-resident pigeons by tightening the norms on residency provisions for individual assesses. The intent behind these changes, the Budget Memorandum says, is to prevent tax abuse.

There are three key changes. One, to qualify as a non-resident (NR), certain categories of persons will have to be out of India for a longer period (about 240 days); earlier the time limit was about 180 days. Two, the norms for a person to qualify as resident but not ordinarily resident (NOR) have been changed. Three, an Indian citizen who is not liable to tax ...


Read the full text thehindubusinessline