Run-up to Budget 2025: Restore 182 days residency rule for visiting NRIs and PIOs

Quick Summary:

The Finance Act, 2020 introduced a more complex tax residency determination for NRIs and PIOs, reducing the stay threshold from 182 to 120 days based on India-sourced income.

Experts argue it complicates compliance without significant revenue benefits, potentially deterring economic activity and investment in India.

India sourced incomes get taxed at higher rates applicable to residents instead of lower rates applicable to non-residents.

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Article Details

Author / Journalist: Lubna Kably

Category: EconomyBusiness

Markets: IndiaAustraliaNorth KoreaOmanSouth Africa

Topics: Non-resident Indians taxation Finance Act 2020 Business news NRIs and PIOs residency rule Budget 2025 Tax residency changes India tax policy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-09 @ 13:13:59 (11 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 1046 words

Reading Time: 6 minutes read

Sentences: 40 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 24991703

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