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of <h1>Finance Bill 2020: Changes to Residency Rules u/s 6 to Prevent Tax Avoidance, Effective April 2021.</h1> The Finance Bill, 2020 proposes changes to residency provisions under section 6 of the Act, addressing misuse by individuals avoiding tax obligations. The amendment reduces the stay period for Indian citizens or persons of Indian origin visiting India from 182 to 120 days to qualify as non-residents. Additionally, it revises the criteria for being 'not ordinarily resident,' requiring non-residency in seven out of ten preceding years. Furthermore, an Indian citizen not taxed elsewhere will be deemed a resident in India. These changes aim to prevent tax avoidance by ensuring individuals are liable for tax in at least one jurisdiction, effective from April 1, 2021.
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