Some Indian DTAAs with Germany, USA, United Kingdom, Australia, New Zealand, Sweden, etc. define a “resident” under Article 4(1) as a person who is liable to tax in that State by reason of domicile, residence, citizenship, or similar criteria, b̲u̲t̲ ̲d̲o̲e̲s̲ ̲n̲o̲t̲ ̲i̲n̲c̲l̲u̲d̲e̲ ̲a̲n̲y̲ ̲p̲e̲r̲s̲o̲n̲ ̲w̲h̲o̲ ̲i̲s̲ ̲l̲i̲a̲b̲l̲e̲ ̲t̲o̲ ̲t̲a̲x̲ ̲i̲n̲ ̲t̲h̲a̲t̲ ̲S̲t̲a̲t̲e̲ ̲i̲n̲ ̲r̲e̲s̲p̲e̲c̲t̲ ̲o̲n̲l̲y̲ ̲o̲f̲ ̲i̲n̲c̲o̲m̲e̲ ̲f̲r̲o̲m̲ ̲s̲o̲u̲r̲c̲e̲s̲ ̲i̲n̲ ̲t̲h̲a̲t̲ ̲S̲t̲a̲t̲

I recently had a conversation with an NRI who shared that he is moving back to India sooner than planned. What started as a discussion on relocation quickly turned into a much deeper conversation on tax and financial implications of returning home. We spoke about several issues that one may need to navigate —changes in tax residential status, disclosure of overseas assets and income, dual-country tax filings, restructuring bank accounts, reviewing foreign retirement benefits