LatestAccounting And Audit 11 September 2026
ICAI Flags Stateless NRI Tax Rule
The ICAI handbook now classifies NRIs who spend just 40 days in India as tax residents, invoking a ₹15 lakh ‘stateless NRI’ rule that can trigger income‑tax liability. The clarification aims to curb avoidance by individuals with fleeting Indian presence.
Key point: The ICAI handbook says NRIs staying 40 days or more in India are treated as tax residents, subject to a ₹15 lakh “stateless NRI” tax rule.
- Residency threshold: 40 days in India
- Potential tax liability: ₹15 lakh
- Purpose: curb short‑term tax avoidance
Read the full ICAI notice here.
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