Business

India determines an individual’s tax residency primarily on the basis of physical presence (irrespective of the purpose of stay) within the country.

Indian stock markets fell sharply on Thursday. The Sensex dropped over 900 points. Renewed tensions in West Asia impacted investor sentiment. Rising crude oil prices and foreign fund outflows also contributed to the decline. Global markets also traded lower. Profit-booking was observed after a recent rally.

The United States is set to host an Indian delegation this month, signaling renewed momentum in bilateral trade talks. This follows a productive meeting between US Trade Representative Jamieson Greer and Indian Foreign Secretary Vikram Misri, who is in the US to review trade, defense, and technology ties.