Union Budget 2012: What NRIs Want
Direct Tax Code (DTC) on NRIs:
Direct Tax Code which is said to replace the existing Indian Income Tax Act 1961 is making NRIs go weak and nervous on their knees. The DTC is said to bring in some stern measures in the provisions for NRIs. DTC will implicate many changes starting from definition of an NRI: According to the news definition, any NRI who stays more than 60 days in a financial year in India will be considered as Residents.
