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.
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100 percent the EVM was tampered..
there is no doubt.
but no one can do anything as already the top notch officials and investigators are greased well by the central champion liars..
we await return of lord rama to keep the rakshas away
Good courageous initiative by Mr.Lobo & Mr. Bava. Where are other congress MLA’s hiding? May be be afraid of CBI raids.
Bava done evrything for suratkal people. He has given modern face to suratkal.
Bava done everything for him. Not for people. He may suits for film, not for politics. He's just a publiocity seeker
Mr bava and lobo.. you cant make fool people all the time. People knew they elected bad people only for this time. But comparing to you people they are better.
These fools thought that they can win easily even after they are doing nothing good to people.
Why these people blaming EVM.What you done to people, they returned.
If they won, no issue with EVM. shame on you.
If EVM are not verfied properly it will take big step in 2019 as wellknown Adithyanath told EVM means every vote for Modi,the silence of opposition will give big boost for EVM in feature.
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