🚨 NRIs, Big Tax Changes Alert! 🚨 India’s new tax rules mean 120+ days stay = Resident Taxation, global income under scrutiny, and strict DTAA compliance. Your foreign assets & earnings may now be taxable! 🚨 New IT Rules for NRIs! 🚨 1️⃣ NRIs Taxed as Residents at 120 Days (Not 182!) Old Rule: Taxed as a resident only if staying in India for 182+ days. New Rule: If you stay 120+ days in India & earn ₹15L+, you’ll be taxed as a Resident! 🔸 More NRIs will now be taxed on global income 🔸 Plan your India trips carefully to avoid higher tax liability! 2️⃣ Global Income Now Under Tax Radar! Earlier: Only Indian income was taxable for NRIs. Now: If you qualify as RNOR (Resident but Not Ordinarily Resident), India may tax your foreign passive income! 💰 What’s taxable? ✔️ Interest from foreign bank accounts ✔️ Dividends from foreign stocks ✔️ Capital gains from selling foreign assets ⚠️ If you thought your foreign earnings were safe—think again! 3️⃣ Foreign Assets & Bank Accounts Must Be Reported! New Rule: NRIs & residents must declare all foreign assets & bank accounts in tax filings. 💼 What must be disclosed? ✔️ Foreign bank accounts ✔️ Offshore real estate ✔️ Foreign stocks, ETFs, mutual funds ✔️ Cryptocurrency on foreign exchanges 🚨 Penalty for hiding assets? ❌ 300% of tax due + Criminal Prosecution! 4️⃣ Stricter DTAA (Double Tax Avoidance Agreement) Compliance! NRIs using DTAA must now provide more documentation! 📑 New Requirements: ✔️ Report all foreign taxes paid & refunds received ✔️ Declare DTAA-covered income in a prescribed format ❗ Misuse of DTAA = Penalties & legal action! ⚡ Key Takeaways: ✅ NRIs staying 120+ days in India may be taxed as residents! ✅ More foreign income, including offshore investments, will now be taxable! ✅ LRS remittances & foreign crypto transactions face strict tracking! ✅ Foreign businesses earning from Indian clients may now be taxed in India! ✅ Failure to report foreign assets? Expect MASSIVE penalties! https://whatsapp.com/channel/0029Va6mSySL7UVc3qWITX3w