Taxing Non Resident Indians on global income
Looks like the writing is on the wall and changes are afoot - may not happen with the introduction of new legislation on 1 April 2012 but clearly the NRI's are now on the Governments radar of revenue generator income and the wheels are in motion - its just a shame that hard working expat Indians may get swept along..
http://www.emirates247.com/business/non-resident-indians-face-new-tax-th...
http://www.emirates247.com/business/economy-finance/trap-to-tax-rich-nri...
there could be a tax on NRE deposits in the next budget. this is the talk among senior bankers....
500,000 + Indians living in Qatar smart ass
Indian living Lounge? ;)
This was already announced earlier. An NRI who is spending more than 60 days a year in India will lose the NRI Status and losing NRI status means you are liable to pay taxes. Restrict your leave to less than 60 days a year to avoid losing the NRI status.
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Mybe they should do this to the NON - RESIDENT Americans
& British people too....
It does'nt matter.......
Who cares...for aperiod of 4 yrs it works out to almost 91 days...:)
was surprised at the article in times of india.
No way its gona effect any of the genuine NRIs !!! they are trying to net those big guns who get an NRI status to get rid of their Taxes and live mostly in India.
Good move.
Anyone who has more than 60 days a year to visit their family at home is not particularly hard working!
If they wanted to not punish the blue-collars then they should only tax the top earning percent.
As always though, the uneducated masses will pay, and the elite will get their lawyer to find a loophole so they don't have to cough up the dough.
Illuminati.
Very good move to bridge the income Gap.