Direct Tax code- removal of RNOR status

[nodegree]

Did they already unveil the new income tax bill? AFAIK they haven't done yet..

[nodegree]

Looks like a Draft of the bill went live today and it seems to keep all existing provisions of RNOR. Still early to see if there are any gotchas but so far nothing seems to change taxation wise for NRIs and RNORs. NRI rules also unchanged (i.e. less than 182 days in India if Ind Citizen on employment abroad or Person of Indian Origin with a foreign residence).

Here's a draft copy
https://drive.google.com/file/d/1OVc5BE ... view?pli=1

Thank goodness for coalition governments.

[wd40]

Looks like a Draft of the bill went live today and it seems to keep all existing provisions of RNOR. Still early to see if there are any gotchas but so far nothing seems to change taxation wise for NRIs and RNORs. NRI rules also unchanged (i.e. less than 182 days in India if Ind Citizen on employment abroad or Person of Indian Origin with a foreign residence).

Here's a draft copy
https://drive.google.com/file/d/1OVc5BE ... view?pli=1

Thank goodness for coalition governments.

Just came to post the same thing here

https://economictimes.indiatimes.com/nr ... 204594.cms

[DILIPDE]

I think, keeping RNOR status is good move. It will help returning NRI (particularly those are living overseas for a long time) to adjust before filling tax return in India.