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: TDS :: VAT RATES :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: cpt :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: empanelment :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India
 
 
News Headlines »
 How to link your Aadhaar and PAN details to file income-tax returns
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits

New India tax worries NRIs in UAE
April, 19th 2007

The new amendments in India-UAE tax treaty, which will allow taxation on investments back home is causing concern among the Indian community here.

The situation has caused panic since details of the amendments are yet to be made public. India and the UAE signed several agreements, including amending the Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect of taxes on income, during the visit of Shaikh Mohammed bin Rashid Al Maktoum, prime minister of the UAE to India on March 25-26.

Amendments are being made to the UAE Double Taxation Avoidance Agreement (DTAA) as per which UAE-based NRIs will be taxed for future capital gains (income) earned from investments in India. There are nearly over a million NRIs in the UAE a majority of them have investments in the stock markets.

The amendments will directly hit not only individual investors, but also investment companies that use UAE as a base to make investments in Indian stock markets. "We are very keen to know the outcome of the newly-signed Indo-UAE Double Taxation Avoidance Agreement," said K V Shamsudin, Director of Barjeel Securities, a major UAE-based brokerage house.

As per the DTAA that India has with the UAE, capital gains earned in India would be liable to tax only in the UAE. In other words, such capital gains are not to be taxed in India at all. However, since there is no tax in the UAE, the capital gains go tax-free altogether.

This double non-taxation had become the bone of contention. The amendments now also define an individual who resides in UAE for at least 183 days in a calendar year as the 'resident' of that country.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Company Overview

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