The new Direct Tax Code (DTC) bill that has proposed to make Non-Resident Indians (NRIs) liable to pay taxes on their income if they stay in India for more than 60 days per visit is not being implemented any time soon.
This was revealed by the finance minister Pranab Mukherjee in his keynote address to NRIs at the plenary session on ‘Opportunity India’ at Pravasi Bharatiya Divas (PBD) here on Saturday. The minister said that the DTC bill was being “scrutinized” and “no final decision” had been taken on it yet. He added that the bill was still in its formulation stage.
Govt allays NRIs’ fears on change in tax laws – The Times of India