Budget

Like every year, this year budget will also be presented on Feb 1 of the year, which is Feb 1, 2026 for current year budget. Budget will be presented by the Honourable Finance Minister Smt Nirmala Sitharaman presented India’s Annual Budget. In this budget, honourable FM will propose some new tax and other provisions. Hereunder, we have summarised some major proposals which would have impact on NRIs, OCIs, Expatriates, Seafarers and other Non-residents. Tax Slabs, Tax Rates – Applicable for…

Budget 2020 Impact on Residential Status of NRIs, OCIs, PIOs and Other Indian Citizens Budget 2020 proposed three changes in Residential Status of Individuals. These new provisions of Budget 2020 will put a direct impact on the residential status of NRIs, OCIs, PIOs, Expatriates, Seafarers, other Indian citizens etc. Here is an analysis (by our NRI Tax Team) of the new proposals: Budget 2020 Amendment 1 – NRIs PIOs Stay in India 181 Days Reduced to 119 days Particulars Earlier…

India Budget 2019 Proposals – Impact on NRIs, OCIs, PIOs, Non-Residents The Finance Minister of Govt of India, Smt Nirmala Sitharaman, presented her first budget on July 5, 2019. There are various proposals in this budget, which are going to put an impact on Indian Citizen living/working abroad ie Non-Resident Indians (NRIs) and Foreign Citizen of Indian Origin ie Person of Indian Origin (PIOs or also called as OCIs). Hereunder, is a brief analysis prepared by CA S Lohia &…