Kind Regards
Shaj Sugathan
Mob : + 255 786 999608
: + 255 754 941600
Email : shajsug@yahoo.
From: Raja <raja@alphatz.
To: sridhar@alphatz.
Cc: GANESHAN VEDAGIRI <vedagiri@alphatz.
Sent: Thursday, 9 April, 2009 7:26:11 PM
Subject: NRI TAX
5% TAX ON FOREIGN INCOME FOR NRI STARTING 2009 -10
Government of India today announced imposition of a flat 5% tax on all NRIs over their world-wide income. Income that is already taxed in India has been kept out of the purview to avoid double taxation. No double taxation benefits would be available for this 5% tax, meaning even if you are paying tax on your income in a country with which India has double taxation agreement, the benefit would not be allowed against this 5% tax. All those Indians who are holding Indian Passports and have been out of the country for more than 180 days during the year are under this requirement. Income proof would have to be submitted in form of employer certificates, foreign tax filings etc. Indian government is also coordinating with Australia , Europe, America , UAE and other countries on collecting Income data for its citizens as part of data sharing initiative on terror prevention measures.
This has been hailed as bringing in compulsory participation in development of India from Non resident Indians.. This means NRIs can no more just continue to retain their Indian citizenship without paying taxes in India . Though it may not be favorable in view of the NRIs who already bring substantial forex in form of remittances and Investments. This is bound to cause a lot of heart burn for the Indian community residing outside..
This is expected to generate ~10 Billion INR tax collection for the government in the year 2009-10. For more information on this rule, tax filings and forms visit http://www.incometa xindia.gov. in/
Add more friends to your messenger and enjoy! Invite them now.
syedklm@gmail.com
Call: 9946230470 (Mobile)
mail:syedklm@gmail.com
VENAD Mobile Channels
VENAD Activate send JOIN VENAD to 567678
VENADJOBS Activate Job Alerts send JOIN VENADJOBS to 567678
CRICKY Activate Cricket Alerts, Scores and other Updates Please send JOIN CRICKY to 567678
To visit your group on the web, go to: www.venadinfomedia.co.cc
The region south of Cochin centered around Quilion came to be known as Venad. It was an autonomous kingdom within the Chera empire. The port was visited by Nestorian Christians, Chinese and Arabs. A new calendar was established called 'Kolla Varsham' (Quilion year) starting in AD 825.The Kulasekara empire lasted for three centuries. }
Change settings via the Web (Yahoo! ID required)
Change settings via email: Switch delivery to Daily Digest | Switch format to Traditional
Visit Your Group | Yahoo! Groups Terms of Use | Unsubscribe
No comments:
Post a Comment