• About us
  • Contact us
  • Our team
  • Terms of Service
Monday, July 14, 2025
Kashmir Images - Latest News Update
Epaper
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER
No Result
View All Result
Kashmir Images - Latest News Update
No Result
View All Result
Home BUSINESS

FinMin to clarify on residency status of NRIs stranded in India this fiscal due to COVID

Press Trust of india by Press Trust of india
February 5, 2021
in BUSINESS
A A
0
FinMin to clarify on residency status of NRIs stranded in India this fiscal due to COVID
FacebookTwitterWhatsapp

New Delhi: The Finance ministry will issue a circular to provide clarity on the residency status of NRIs and foreign nationals stuck in India in the current fiscal due to the coronavirus pandemic.

For the fiscal ended on March 31, 2020, the ministry, in May last year, clarified that the period of stay of Non-Resident Indians (NRIs) and foreign nationals in India during the lockdown period would not be counted for the purpose of determining their residency status for the purpose of taxation.

Related posts

BJP governments never imposed any ban on media organisations: Rajnath Singh

New BrahMos testing facility in Lucknow will strengthen India’s self-reliance: Rajnath Singh

July 13, 2025

Cong-ruled states unable to fill job vacancies due to precarious financial condition: Pralhad Joshi

July 13, 2025

“About the circular on residency, we had already issued a circular for previous financial year (2019-20) and for current financial year (2020-21) it would be issued sometime in future,” Finance Ministry, Joint Secretary (Tax Policy and Legislation), Kamlesh Varshney said at a PHDCCI event on Thursday.

There were expectations that the government would clarify on the residency status of these individuals in the 2021-22 Budget, which was presented on February 1.

Commercial international flights were suspended when the nationwide lockdown was imposed on March 25, 2020. Later, such flights were allowed in a restricted manner under bilateral Air Bubble agreements and the services are yet to resume fully. As a result, many NRIs and foreign nationals had to prolong their stay in India.

There were apprehensions that this extended stay could lead to these individuals being considered as Indian residents as per Section 6 of the Income Tax Act for taxation purposes.

Previous Post

Babar and Alam revive Pakistan to 145-3 on rain-hit Day 1

Next Post

Dr Samoon reviews functioning of India International Skill Centre, Heritage Skill Dev, Craft Dev, Food Craft Institutions

Press Trust of india

Press Trust of india

Next Post
Dr Samoon reviews functioning of India International Skill Centre, Heritage Skill Dev, Craft Dev, Food Craft Institutions

Dr Samoon reviews functioning of India International Skill Centre, Heritage Skill Dev, Craft Dev, Food Craft Institutions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ePaper

  • About us
  • Contact us
  • Our team
  • Terms of Service
E-Mailus: kashmirimages123@gmail.com

© 2024 Kashmir Images - Designed by GITS.

No Result
View All Result
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER

© 2024 Kashmir Images - Designed by GITS.