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.
New Delhi, Feb 20: Syed Qasim Rasool Ilyas, father of Umar Khalid, a PhD scholar at Jawaharlal Nehru University, has claimed that he received a “death threat call from underworld don Ravi Poojary”.
Comments
Dear Rakesh.
We know how brain is working after cheddi media & teaching have affected U.. and 95% of the cases charged are still not proved and the cheddi authorities are playing with the dumb spectaters like U who support them without your own investigation on the cases which still did not give any proof..... anyway A day will come to judge such cases where innocents have been trapped and the one who gave us this life will judge and on that day no cheddis will come to your rescue for your blind support now. Which U will regret for not using your god given intellectual. Try to know the reality and study on cheddi deception.
Rakesh,
Jamate Islami Hind an institution have no connection with Simi. SIMI is a independent institution which banned now. Its a student movement like ABVP. Jamate Islami Hind have student wing is SIO. I don't know where you got the information that he was with SIMI. Can you furnish the details about the Syed Qasim was with SIMI, failing which you will have apologize in this forum for non authentic information.
SQR Ilyasi we are with you...A goonda coward who is sitting abroad is preaching Hindutva patriotism ..As a Muslim we are not scared of these death threats
this man was with SIMI ... what else we can expect from his son ? Mr Abdullah , clarification , not India , it is muslims only and some left mentally retards . May be he has support from pakistan .
No worry ... India With U. Jai Hind.
Dont worry guys.... for the threats
Allah gives life & death and we muslims believe that.. If you are firm in your belief.. Just pray to him and ask his protection ... Dont worry about the evil .. Unless ALLAH gives permission nothing on the earth will move... even the evil of ravi poojary..
TRUST ALLAH, U are on the safe hand unless ALLAH decreed on U. even if U are harmed. It is the matter is with ALLAH.
Add new comment