Sep 04, 2010
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Direct Tax Code
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Direct Tax Code
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Direct Tax Code
A phrase “being outside India” in the existing income tax law so far, exempted individuals who stay outside the country for six months from paying taxes.
“The DTC has only attempted to clean up the provision in line with the laws globally,” an official with the Central Board of Direct Taxes (the apex right arm of the government) explained.
“This could result in a situation wherein the overseas income of NRIs may be subject to tax under certain situations,” said Vikas Vasal, executive director at consulting firm KPMG.
