Binny Bansal's NRI Tax Claim Rejected: ITAT Rules Against Flipkart Co-founder

• ITAT Bengaluru rejected Flipkart co-founder Binny Bansal's NRI status claim, denying DTAA tax benefits.
• Bansal argued he resided in Singapore for employment, but ITAT found he spent over 60 days in India.
• The tribunal stated Bansal satisfied the residential test under section 6(1)(c) of the Income Tax Act.
• Tax department clarified relaxations apply only to existing non-residents, not those resident in prior year.
• Bansal sold Flipkart Private Limited shares in 2019, claiming Singapore residency exempted him from Indian taxes.

Why It Matters: Binny Bansal's NRI tax claim was rejected due to exceeding the 60-day stay limit in India.