The Finance Act, 2020 has introduced new section 6(1A) to the Income-tax Act, 1961. The new provision provides that an Indian citizen shall be deemed to be resident in India only if his total income, other than income from foreign sources, exceeds Rs. 15 lakhs during the previous year.
If the NRI receives a share profit from a LLP in excess of 15 lakhs, will it be treated as total income of more than 15 lakhs in India and the status of NRI will be affected ?
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