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Budget eases criteria of obtaining Aadhaar for NRIs with Indian passport

Second, gifts by Indian residents in the form of property or money will be taxable in India

Shrimi Choudhary  |  New Delhi 

Lok Sabha passes Aadhaar Bill amid Opposition protest over privacy

Budget 2020 has eased the criteria of obtaining Aadhaar card for non-resident Indians (NRIs) who hold an Indian passport and also made some tax-related proposals. Now, Aadhaar card for NRIs with Indian passports will be issued after their arrival in India, without waiting for the mandatory 180 days. Second, gifts by Indian residents in the form of property or money will be taxable in India.
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However, the exemption on these gifts from income tax would apply, depending on the treaties between India and respective countries. At present, gifts by a resident to another resident are taxable, subject to exemptions. A proposal was also made to plug a loophole in case of any gift by a resident to a person outside the country (not being a gift otherwise exempt), on or after July 5, 2019, will be subject to taxes in India with some exemptions.
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First Published: Sat, July 06 2019. 03:15 IST
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