No new taxes for non-resident Indians
Sibal hails NRIs for their continuous support and says government will not be unfair to them
Dubai: Non-resident Indians (NRIs) will not have to pay taxes on their global income if they stay in their home country for more than 60 days in a year as proposed by the Direct Tax Code Bill, Kapil Sibal, Union Cabinet Minister of Human Resource Development, Communications and Information Technology said on Monday.
Allaying apprehensions of NRIs, Sibal, while addressing an Indian Business and Professional Council (IBPC) organised forum, said: “This is something [tax code for NRIs] that is not in our minds. The matter hasn’t come to the cabinet and it may never come to cabinet.”
He added that the fears over the issue are not real and the government will not implement any such tax code.
According to the existing law, NRIs are liable to pay taxes on their global income if they stay in India for more than 182 days in a financial year.
Article continues below
The new proposed tax code calls for reduction in the number of days from 182 to 60, which hasn’t been approved by the parliament yet.
In further clarification, another government official said that according to the code proposal an NRI has to stay 365 days in the preceding four years for the 60-day law to be applicable to him, in case it is approved.
Talking about the proposed tax code, Sibal said that the code will bring enormous reform to the country and will be implemented, however, it is being studied by a standing committee of parliament and could be revised with the omission, or revision, of certain provisions.
Hailing NRIs in Dubai for their significant contribution in the development of the country as well the UAE, he said: “NRIs are our own people and we never are unfair to our own people. We will continue to need your support and long-term investment for the development of the country. We toast you every year on the Pravasi Bharatiya Divas [NRI Day] and will continue to do so. I think we have moved miles in favour of NRIs since we came to power and we are proud of your achievements.”
He also said that opposition to FDI (foreign direct investment) in retail and the ongoing Coalgate issue that is stalling parliament proceedings is misconceived.
He called upon opposition parties to allow a debate to take place in parliament on all burning issues and urged them not to stall developmental reforms.
Please note that under 66A of the IT Act, sending offensive or menacing messages through electronic communication service and sending false messages to cheat, mislead or deceive people or to cause annoyance to them is punishable. It is obligatory on kemmannu.com to provide the IP address and other details of senders of such comments, to the authority concerned upon request. Hence, sending offensive comments using kemmannu.com will be purely at your own risk, and in no way will Kemmannu.com be held responsible.
Similarly, Kemmannu.com reserves the right to edit / block / delete the messages without notice any content received from readers.
Final Journey of Judith Lewis (91 years) | LIVE From Kallianpur
Rozaricho Gaanch April, 2024 - Ester issue
Final Journey Of Theresa D’Souza (79 years) | LIVE From Kemmannu | Udupi |
Invest Smart and Earn Big!
Creating a World of Peaceful Stay!
For the Future Perfect Life that you Deserve! Contact : Rohan Corporation, Mangalore.
Final Journey Of Joe Victor Lewis (46 years) | LIVE From Kemmannu | Organ Donor | Udupi |
Milagres Cathedral, Kallianpur, Udupi - Parish Bulletin - Feb 2024 Issue
Way Of Cross on Good Friday 2024 | Live From | St. Theresa’s Church, Kemmannu, Udupi | LIVE
Good Friday 2024 | St. Theresa’s Church, Kemmannu | LIVE | Udupi
2 BHK Flat for sale on the 6th floor of Eden Heritage, Santhekatte, Kallianpur, Udupi
Maundy Thursday 2024 | LIVE From St. Theresa’s Church, Kemmannu | Udupi |
Kemmennu for sale 1 BHK 628 sqft, Air Conditioned flat
Symphony98 Releases Soul-Stirring Rendition of Lenten Hymn "Khursa Thain"
Palm Sunday 2024 at St. Theresa’s Church, Kemmannu | LIVE
Final Journey of Patrick Oliveira (83 years) || LIVE From Kemmannu
Carmel School Science Exhibition Day || Kmmannu Channel
Final Journey of Prakash Crasta | LIVE From Kemmannu || Kemmannu Channel
ಪ್ರಗತಿ ಮಹಿಳಾ ಮಹಾ ಸಂಘ | ಸ್ತ್ರೀಯಾಂಚ್ಯಾ ದಿಸಾಚೊ ಸಂಭ್ರಮ್ 2024 || ಸಾಸ್ತಾನ್ ಘಟಕ್
Valentine’s Day Special❤️||Multi-lingual Covers || Symphony98 From Kemmannu
Rozaricho Gaanch December 2023 issue, Mount Rosary Church Santhekatte Kallianpur, Udupi
An Ernest Appeal From Milagres Cathedral, Kallianpur, Diocese of Udupi
Diocese of Udupi - Uzvd Decennial Special Issue
Final Journey Of Canute Pinto (52 years) | LIVE From Mount Rosary Church | Kallianpura | Udupi
Earth Angels Anniversary | Comedy Show 2024 | Live From St. Theresa’s Church | Kemmannu | Udupi
Kemmannu Cricket Match 2024 | LIVE from Kemmannu
Naturya - Taste of Namma Udupi - Order NOW
New Management takes over Bannur Mutton, Santhekatte, Kallianpur. Visit us and feel the difference.
Focus Studio, Near Hotel Kidiyoor, Udupi
Earth Angels - Kemmannu Since 2023
Kemmannu Channel - Ktv Live Stream - To Book - Contact Here
Click here for Kemmannu Knn Facebook Link