Finance Act 2020: India Puts Nail in the Coffin to the Gordian Knot of Stateless Persons

The government of India on 27 March 2020 notified the Finance Act 2020. Vide the Act, the government inserted subsection (1A) into section 6 of the Income Tax Act 1961, which introduces a new form of residency for Indian citizens, i.e. “deemed to be resident”. The article analyses the changes in residency rules and the far-reaching implications of the same.