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Stranded NRIs could be in for tax trouble
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It’s been 44 days since the lockdown was announced in India and flight operations were suspended. Non-resident Indians (NRIs), who came to India before the lockdown have no way of returning, and this may have implications on their NRI status and taxes, especially in light of the recent amendment introduced by the Finance Act 2020 related to the tax residency rules for NRIs.
While earlier an NRI who visited India would be considered a resident if they spent 182 days or more in the previous year in the country, but from this financial year i.e.
2020-21 the threshold period of stay in the previous year has been reduced to 120 days. There is a chance that the lockdown will get extended further or the international travel ban will not get
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