News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Direct Tax »
 How the proposed new Direct Tax Code could cut your income tax
 How is the residential status of an individual determined for income tax
 Notification No. 49/2019 Central Board of Indirect Taxes and Customs
 Direct tax code aims to simplify archaic tax rules as we know it
 Have ITR related queries? This is how you can get them answered
 E-assessment Of I-T returns launched
 How to get your ITR related queries answered by income tax officers
 You can get credit for TDS deducted on cash withdrawals of over Rs 1 crore from bank account
 CBDT circular comes as relief for minor offences
 Indirect tax board removes circular on GST, but confusion remains
 Understanding the difference between TDS and TCS

Seafarers get tax exemption from Ministry of Finance
April, 14th 2017

Union ministry of finance has granted income tax exemption to Indian seafarers sailing aboard foreign ships outside India for more than 182 days a year.

Through the Central Board of Direct Taxes (CBDT) circular no. 13/2017, the ministry of finance has issued a clarification regarding liability to income-tax in India for a non-resident seafarer receiving remuneration in NRE (non resident external) account maintained with an Indian bank.

With this, the government has accepted the long-pending demand of India’s leading merchant navy Unions, the Maritime Union of India (MUI) and the National Union of Seafarers of India (NUSI).

MUI general secretary Amar Thakur said, “This decision is a huge boost for over 1.3 lakh Indian seafarers, as tax-free income has always been an added attraction for Indian merchant navy workforce, which contributes around $40 million annually to our country’s exchequer.”

“Income tax exemption to Indian seafarers will certainly strengthen the centre’s ‘Maritime Agenda 2020’ aimed at increasing the global share of Indian seafarers to 9% from 7% currently,” said NUSI general secretary Abdulgani Serang.

A judgement delivered by the Kolkata income tax tribunal in August 2016 mandating Indian merchant navy workforce to pay taxes in India had shattered the morale of Indian seafarers. Subsequently, MUI and NUSI had jointly challenged the tribunal’s decision in August 2016 in the Kolkata High Court through Dave & Padvekar Associates and Advocates.

Thereafter, representatives of MUI and NUSI sought centre’s intervention in the interest of Indian seafarers through a series of meetings in New Delhi with CBDT chairman Sushil Chandra, union shipping minister Mansukh Mandavia and union finance minister Arjun Meghwal along with advocate R S Padvaker, ex judge ITAT and member of parliament Gajendara Singh Shikhawat.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

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