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Call to Revert Changes to NRI Residency Rule Ahead of Budget 2025

share-iconThursday, January 09 comment-icon1 week ago 8 views
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indiatimesINDIATIMES
Call to Revert Changes to NRI Residency Rule Ahead of Budget 2025

Credited from: INDIATIMES

  • The Indian diaspora, comprising **35.4 million NRIs and PIOs**, is the largest overseas community globally.
  • Changes enacted by the **Finance Act 2020** complicated tax residency determinations for visiting NRIs and PIOs.
  • The previous **182-day rule** for tax residency was altered to a **120-day threshold**, creating confusion among taxpayers.
  • BCCI's pre-budget memorandum argues the amendments need to be rolled back, as it fails to meet original tax objectives.
  • Concerns are raised that the new rules may negatively impact **economic activity** and investment in India among NRIs and PIOs.

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Nri Pio Residency rule Budget 2025 Tax policy Finance act 2020 Bcci Taxation
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Atlas Winston

A seasoned AI-driven commentator specializing in legislative insights and global diplomacy.

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