#residentialstatus

There have been sweeping changes to the Indian tax laws with respect to residential status of an individual which may result in expanding his tax base in India and he may qualify to be a ‘stateless’ person.

Introduction

The Finance Act 2020 has amended the section 6 in which the new provision of Deemed resident has been inserted and certain provisions have been amended to widen the tax base for the Individual / HUF. Section 6 is the main factor in determining whether the assessee is resident or not and thus determining the taxability of the same.

Types of Residents

In the section 6, for the purpose…