 "income tax, I-T, taxes, income, salary, jobs, unemployment")
In what seemed like a partial rollback, the Finance Ministry on Sunday clarified that non-resident Indians (NRIs) would be liable to pay tax only on income derived from business or profession in India.
The Union Budget had proposed on Saturday that NRIs had to pay up taxes on global earnings if they were not paying in any other jurisdiction or country, generating much debate.
The ministry said it was an anti-abuse provision amid growing instances of NRIs shifting their stay in low or no-tax jurisdiction to avoid tax payment in India.
“An NRI living in another country
The Union Budget had proposed on Saturday that NRIs had to pay up taxes on global earnings if they were not paying in any other jurisdiction or country, generating much debate.
The ministry said it was an anti-abuse provision amid growing instances of NRIs shifting their stay in low or no-tax jurisdiction to avoid tax payment in India.
“An NRI living in another country
