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Tax cuts for those discarding old cars, buying new ones

August, 14th 2015
The Indian seafarers, working out of India, for 181 days are considered as Non Resident Indians [NRI]. Accordingly, they get the tax benefits applicable to NRIs. However, with a view to provide a uniform method of computation of period of stay in India for the purposes of determination of Resident status in the case of Indian . seafarers, whether working on a Indian ships or foreign ship, Union Finance Minister in the Union Budget 2015-16 has announced that an enabling power will be provided to Central Board of Direct Taxes (CBDT) to prescribe the same in the rules. The Ministry of Shipping has sent written communications to the Department of Revenue for working out the methodology for computation of Resident status of seafarers. This information was given by Minister of State for Shipping, Shri Pon. Radhakrishnan in a written reply to a question in the Lok Sabha today.