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HomeNewsIndiaNRI? Stuck in India due to coronavirus? Worried about tax status? Here's all you need to know

NRI? Stuck in India due to coronavirus? Worried about tax status? Here's all you need to know

The Central Board of Direct Taxes noted in a circular that the decision has been taken following various representations in the matter, as concerns were expressed that a prolonged stay in the country may make them a resident of India under section 6 of the Income Tax Act, 1961.

May 09, 2020 / 09:33 IST
Representative image

Representative image

The Centre on May 8 said the period of lockdown and quarantined in India will not be taken into account for determination of residential status for FY 2019-20 for those individuals who had come on visit to India but not able to leave due to the coronavirus-induced lockdown.

The Central Board of Direct Taxes in a circular said the decision has been taken following various representations in the matter, as concerns were expressed that a prolonged stay in the country may make them a resident of India under Section 6 of the Income Tax Act, 1961.

This particular section of the act contains provisions relating to the determination of the residency of a person.

The relaxation will be applicable in the case of the following people:

>> Those who have been unable to leave India on or before March 31, 2020. Their period of stay from March 22, 2020 to March 31, 2020, shall not be taken into account.

COVID-19 Vaccine

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How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

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Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

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>> Those who have been quarantined in India on account of the novel coronavirus (or COVID-19) on or after March 1, 2020 and have departed on evacuation flights on or before March 3e1, 2020. Their period of stay from the beginning of quarantine to the date of departure of March 31, as the case may be, shall not be taken into account.

>> Those who departed on an evacuation flight on or before March 31, 2020. Their period od stay in India from March 22, 2020 to their date of departure shall not be taken into account.

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Moneycontrol News
first published: May 8, 2020 10:38 pm

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