Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: due date for vat payment :: cpt :: VAT Audit :: ACCOUNTING STANDARDS
 
 
General »
 Simplified one page Income Tax Return Form: Changes to keep in mind before filing tax return for AY2017-18
  No proposal to replace Income Tax with Banking Cash Transaction Tax
 GST coming July 1 despite calls for delay: Revenue Secretary Hasmukh Adhia
 Centre introduces provision of taxation on NPS in Income Tax Act
 Income Tax Department Clarifies On Cash Withdrawal From Banks, Post Offices
 The Goods And Services Tax (Compensation To States) Bill, 2017
  Goods and Service Tax (GST) and Real Estate Sector
 New Income Tax Rules On Home Loan Come Into Effect
 Here's how late filers can save on stress and taxes
 Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib ?Kalyan Yojana, 2016
 Companies should invest in upgradation of tax technology

Gulf non-resident Indians seek differential tax treatment
January, 12th 2011

The proposed changes in the new direct tax code, which makes NRIs liable to pay tax if they stay in India for over 60 days a year, has led to some distress among the Indian diaspora in the Gulf region as they tend to spend a longer time in India due to their different socio-economic background, prominent NRIs from that region say.

"NRIs in the Gulf cannot be considered at par with the NRIs in the rich Western countries. They should be given differential tax treatment," Ram Buxani, president of Dubai-based Cosmos-ITL Group, told media. Buxani, like nearly 1600 non-resident Indians (NRIs) and persons of Indian origin ( PIOs )), were here to attend the three-day Pravasi Bharatiya Divas Jan 7-9.

The new direct tax code (DTC) proposes to make NRIs liable to pay tax if they reside in India for more than 60 days in a particular year, down from the current provision of 182 days in the existing Income Tax Act.

"NRIs who are in the Gulf tend to visit India for a longer period. They do it for various purposes like long-term medical treatment, children's marriages and education," said Buxani, adding the proposed tax regulation had created unrest among Indians in the Gulf region as a majority of them visit their homeland for more than 60 days in a year.

Buxani, founder of the erstwhile Overseas Indians Economic Forum that was later merged with Indian Business and Professional Council, said the Gulf region should be given differential treatment under the new direct tax regulation in line with the Customs Act that gives special treatment to neighbouring countries like Nepal and Bhutan.

"Our demand is that the current provision of 182 days should stay. If it is brought down to 60 days, the Gulf region should be exempted," said Buxani.

He said prominent NRIs from the Gulf region were lobbying against proposed changes and had already raised their concern with the Indian government.

M.A. Yusuffali, managing director of EMKE Group that runs the LuLu hypermarket chain in the Gulf region, said the proposed regulation would hurt low-paid workers.

"Many people take two-three months' long vacation after working for two-three years. The new law will be a big problem for them," Yusuffali, who is also a member of the prime minister's global advisory council, told IANS.

Yusuffali pointed out that the over five million NRIs in the Gulf countries are a very important source of foreign remittance for India and they should be given fair treatment.

 

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Enterprise Resource Planning Solutions ERP Solutions Enterprise Resource Planning Software Solutions ERP Software Solutions Supply Chain Management Solutions SCM Solutions Supply Chain Management Software Solutions SCM Software Solutions Enterprise Resource Planning Solutions India ERP Solutions India Enterprise Resource Planning Software Solutions India ERP Software Solutions India Supply Chain Management Solutions India SCM Solutions India Supply Chain Management Software Solutions India SCM Software Solutions India

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions