New Delhi: Non-resident Indians (NRI) in transactions with those in India will be liable for tax under the country's law - even if they do not have a physical presence in India and operate digital businesses. The Central Board of Direct Taxes has notified new rules for operation of business by NRIs under which any transaction over Rs20 million (around $27,100; Dh995,994) in respect of goods, services or property carried out by them with a person in India. This also applies to download of data or software in India. The new provisions are applicable with effect from Financial Year 2021-22. It had become fully functional now with CBDT notifying the thresholds for triggering SEP and consequentl
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