NRI’s global income will not be taxed in India, Nirmala Sitharaman

After the budget on Saturday, Union Finance Minister, Nirmala Sitharaman on Sunday said the centre govt is not going to levying a tax on the global income of NRIs and only that income which is generated in India will be taxable. The Finance Bill, 2020 has proposed that an Indian citizen shall be deemed to be resident in India, if he is not liable to be taxed in any country or jurisdiction. “If you have property here and you get rent out of it, but because you are living there, you carry this rent into your income there and pay no tax there, pay no tax here … since the property is in India, I have got a sovereign right to tax it,” the finance minister said in a post Budget interaction with reporters.