ICAI Releases Sixth Edition of Technical Guide on Expatriates Taxation

The Institute of Chartered Accountants of India (ICAI) has recently released a handbook on “Technical Guide on Expatriates Taxation”.

This is the sixth edition of the handbook, which includes the latest changes in tax laws, such as new rules on how capital gains are taxed, revised income tax slab rates, and the concessional tax regime, which is now the default option. The handbook also covers other important updates under the Income-tax Act.

This edition of the handbook explains the determination of residential status under the Income-tax Act, 1961. It covers the rules based on deemed residency and the expanded thresholds for physical presence, which have substantial implications on the taxability of global income, particularly in respect of Indian citizens and Persons of Indian Origin maintaining economic nexus with India.

ICAI’s handbook is useful for tax professionals, business owners, consultants, and students. It will help them understand and deal with both legal and practical issues related to the taxation of expatriates.