NRIs try to sidestep 'deemed residency' tax
Updated Apr 06, 2021 04:39 am
- Many wealthy Indians with businesses and jobs abroad are trying to get around the country’s new tax rule that targets the global income of its citizens.These individuals are booking a slice of their income in jurisdictions like Singapore and Hong Kong to pay a small tax
- There in the hope that they would escape the glare of the Income Tax (I-T) department in India. Whether their aggressive strategy pays off would depend on how sternly tax officials interpret the law.