New residency rules can be taxing for NRIs stuck in India amid lockdown3 min read . Updated: 04 May 2020, 04:17 PM IST
- 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.
- This could mean that some of the NRIs still stuck in India may be considered as resident for tax purposes, thus facing issues of dual tax residence and citizenship.