{"id":23292,"date":"2019-07-10T16:36:46","date_gmt":"2019-07-10T21:36:46","guid":{"rendered":"https:\/\/www.indianeagle.com\/travelbeats\/?p=23292"},"modified":"2019-07-11T10:48:35","modified_gmt":"2019-07-11T15:48:35","slug":"indian-budget-2019-nris-gift-tax","status":"publish","type":"post","link":"https:\/\/www.indianeagle.com\/travelbeats\/indian-budget-2019-nris-gift-tax\/","title":{"rendered":"India\u2019s Budget 2019 Imposes New Regulations on NRIs from Gift Tax to Residential Status"},"content":{"rendered":"
India’s Budget 2019, presented by the country’s first full-time woman finance minister Nirmala Sitharaman, has brought NRIs within the ambit of the new tax regulations and implications.<\/strong> In the Union budget 2019 for NRIs, Indian government has tightened the tax provisions to close the loophole that overseas Indians may have taken advantage of for tax evasion.<\/p>\n
The budget, which is expected to transform India into a USD 5 trillion economy by 2024, has brought NRIs within the purview of the definition of assesses in the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.<\/p><\/blockquote>\n