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.
Comments
Madrasa teacher is recently accepted Islam. His surname was Kotian, he might be Narain Kotian's relative.
Please confirm,and hang him till his death.
oho...naren koti .where were you ..during ragaveshvara premalata ...harikatha..scandal ..do you feel proud abt ragaveshvara sree..you may find pejavara supporting ragavesvara...and contributed his part with him...but here you cant find anyone Muslim supporting madrasa teacher ...
Naren they love camels and bacchaabaazi is practiced in Afghan and pakis
Naren Anna,
When did you change your location from Thai Naadu to Singapore?
See below what perfect manuals have to say on the topic:-
In Hinduisum:-
Homosexuality is regarded as one of the possible expressions of human desire, Although some Hindu dharmic texts contain injunctions against homosexuality, a number of Hindu mythic stories have portrayed homosexual experience as natural and joyful, There are several Hindu temples which have carvings that depict both men and women engaging in homosexual sex
in Islam:-
In more than one place in Holy Quran, Allah recounts to us the story of Lut's people, and how he destroyed them for their wicked practice of homosexuality, there is consensus among Muslims and the followers of all other religions that sodomy is an enormity, It's even uglier that adultery,
Now, judge yourself, This madrasa teacher influenced by whom????
Naren Kotian, He must be inspired by your God men Swami Nithyananda, Ashram Bapu, Sant Rampal, Baba Ramdev, Swami Agnivesh, Chanraswami, Swami Raghaveshwara Bharati!!
@ Naren Kotian,
DONT TALK TOO MUCH OKK..
Some pandits and ustads have unnatural sex with cows too. Both should be hanged.
Indian law is very weak. Nobody cares for the law.
Some pandits and ustad have unnatural sex with cows too. Both should be hanged
Our law is very weak.
Haha where are jihadis ...faizhal Bhai ..yelri hogideera..beef business jora ? ..haha ...Dana kadiyokke ballu hidkondu kaaykondu kootideera henge ...eddu banree ...nimma ummah guru kanree...3 janakke chummah kotkondu iddaaga sikki haakondavne ...I heard it is in your perfect manual Anthe howda...? ...haha
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