New Delhi, Feb 1: The budget is a little more demanding of the non-resident Indian. Firstly, to be categorized a non-resident, an Indian now has to stay abroad for 240 days, against 182 previously. In other words, an Indian national, to claim the non-resident status, can’t stay in India for 120 days or more in a year.
“We've made changes in Income Tax Act where if an Indian citizen stays out of the country for more than 182 days, he becomes non-resident,” said Revenue Secy Ajay Bhushan Pandey. “Now in order to become non-resident, he has to stay out of the country for 240 days.”
The second rule is more deadly: a non-resident Indian, who is not taxed in the foreign country, will become taxable in India.
“If any Indian citizen is not a resident of any country in the world, he'll be deemed to be a resident of India and his worldwide income will be taxed,” said Pandey.
"It's a very big disadvantage for Indians residing overseas only to save on tax," said Dinesh Kanabar of Dhruva Advisors. He expects that many Indians stay abroad in countries, where the income tax is low or nil such as Dubai. Now they will be taxed in India if they are in the income tax bracket.
For Indians, finance minister Nirmala Sitharaman revised income tax rats and proposed new tax slabs.
The new income tax rates will, however, not allow exemptions under Section 80C. Home loan exemption, insurance exemptions, the standard deduction will also not stay under the regime.
"The new tax regime will be optional and the taxpayers will be given the choice to either remain in the old regime with exemptions and deductions or opt for the new reduced tax rate without those exemptions," Sitharaman said while unveiling Budget.
Kiran Shetty, a notorious criminal, attacked Mustafa with a lethal weapon in the morning, sources said.
Comments
It is pre-planned murder,,,tmrw musthafa is to be released from jail
Those who r congratulating for the murder, please go and do it by yourself and feel proud. No... you cant do and u will never do it bcoz it will spoil ur future and your family.
Yererna ammana mage jaild kuriyinda kuriyad nank daane atthe.
Be a human first
Some ppl r happy for the above news..Now kiran will meet d same fate by someone else.
Its easy to type and comment congratulating kiran, but saddna tho kiran ko hai.
Kiran wait for your turn...
This is expected.........Accused considered as culprit.......
In reality culprit ruling the nation...........
falsehood bound to persish.truth prevails.....
For a Mumin if die in the cause of Truth or win both same..... both considered as victory
Indeed great news ... tax payer money saved ,billawa youth prashanth pujari atmakke shanthi sikthu ... good job kiran ... terrorists and criminals must meet the same fate ...
Inna Lillahi wa inna ilaihi rajioon
God is great, he dispensed justice inside the jail.
60% Cops are to be considered as terrorist.
Strange, encounter in jail.......Muslims have to suffer everywhere in the name of terrorism.....
Strange, How the criminals get lethal weapons in the Jail????
why the jail is providing them entertainment channel, So, this is the reason people do not hesitate to commit crime. Because they are getting everything in the Jail and leading a lavish lives over there.
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