“ Indians are poor but India is not a poor country”. Says one of the swiss bank directors. He says that “280 lacs crore (280,00,000,000,0000) of Indian rupees is deposited in swiss banks which can be used for ‘taxless’ budget for 30 yrs. Can give 60 crore jobs to all Indians. From any village to Delhi 4 lane roads. Forever free supply to more than 500 social projects. Every citizen can get monthly 2000/- for 60 yrs. No need of world bank & IMF loan. Think how our money is blocked by rich politicians. We have full right against corrupt politicians. Don’t forget CWGames…..Adarsh building Ghotala….. 2g spectrum telecommunication ghotala….Latest Bangalore corruption...... Itna forward karo ki pura INDIA padhe. Take this seriously, you can forward jokes, then why not this? Be a responsible citizen. CIRCULAR TO NRIs NEW INDIAN RULES FOR TAXATION FROM APRIL/201 2 - AN NRI IS NOT CONSIDERED AS NRI IF HE COMES TO INDIA FOR 60 DAYS & MORE IN A YEAR BUT WILL BE TAXED ON HIS ALL THE INCOME THE PERSON HAS EARNED IN THE FOREIGN COUNTY DURING THE YEAR. IT DOES NOT MATTER WHETHER THE PERSON HAS LIVED OUTSIDE INDIA FOR DECADES. THIS MEANS FROM NOW ON, IF AN NRI GOES TO INDIA EVEN FOR A FEW TRIPS AND THAT CUMULATES TO OVER 60 DAYS IN THE YEAR, WILL BE CONSIDERED AS A LOCAL CITIZEN AND WILL HAVE TO DECLARE HIS FOREIGN INCOME AND PAY TAX ON IT. THEREFORE, HENCEFORTH GOING TO OUR OWN COUNTRY, WE WILL HAVE TO MAKE SURE THAT WE GO ONLY IN AN EMERGENCY BUT NOT TO MEET RELATIVES; NEITHER FOR A SOCIAL TRIP NOR FOR LONG MEDICAL CHECKUPS NRIs SHOULD NOW HAVE TO GET THEIR CHILDREN MARRIED IN FOREIGN COUNTRIES AND HOLD ALL THE OTHER CELEBRATIONS WITH CLOSE RELATIVES OUTSIDE INDIA . IT IS CHEAPER TO BUY TICKETS FOR CLOSE RELATIVES TO PARTICIPATE IN OUR CHILDRENS’ WEDDINGS IN FOREIGN COUNTRIES IMPORTANT NEWS FOR NRIs! NOW THAT THE INDIAN GOVERNMENT DOES NOT REQUIRE NRI’S FOREIGN EXCHANGE, WE WILL NOW BECOME NOT REQUIRED INDIANS. PLEASE FORWARD THIS TO ALL YOUR NRI FRIENDS IN YOUR FORWARD LIST. THE NEW CLAUSE UNDER CLAUSE 4 OF THE DIRECT TAXES CODE, WHICH IS TO COME INTO EFFECT FROM 1ST APRIL 2012, THE STATUS OF RESIDENT BUT NOT ORDINARILY RESIDENT, WHICH IS CURRENTLY AVAIALABLE UNDER SECTION 6 (6) OF THE INCOME TAX ACT OF 1961, IS SOUGHT TO BE REMOVED. AFTER THE CODE COMES INTO FORCE, A PERSON WILL BECOME RESIDENT IN INDIA IN ANY FINANCIAL YEAR IF EITHER OF THE FOLLOWING TWO CONDITIONS IS FULFILLED: A. IF HE IS IN INDIA FOR A PERIOD OR PERIODS REPEAT PERIODS AGGREGATING TO 182 DAYS OR MORE IN A FINANCIAL YEAR OR B. IF HE IS IN INDIA FOR 60 DAYS OR MORE IN A FINANCIAL YEAR AND HAS ALSO BEEN IN INDIA FOR 365 DAYS OR MORE WITHIN THE FOUR YEARS IMMEDIATELY PRECEDING THAT FINANCIAL YEAR. C. THEREFORE, A NON RESIDENT INDIAN WOULD BECOME RESIDENT IN INDIA UNDER THE DIRECT TAX CODE IF EITHER OF THE AFORESAID TWO CONDITIONS IS FULFILLED, AND WILL BE LIABLE TO TAX IN INDIA ON HIS WORLD INCOME. THIS WOULD BE NOT WITHSTANDING THE FACT THE HE MAY BE A PERSON RESIDENT OUTSIDE INDIA UNDER THE PROVISTIONS OF THE FOREIGN EXCHANGE MANAGEMENT ACT 1999. http://www.knowledgebible.com/forum/showthread.php/5638-004-Direct-taxes-code-bill-2010-Section-%C2%96-04-Residence-in-India http://www.khaleejtimes.com/DisplayNRILetters.asp?section=NRI http://www.arabianbusiness.com/india-s-new-direct-taxes-code-may-hurt-non-residents-347700.html -- You received this message because you are subscribed to the Google Groups "newsline" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/newsline?hl=en?hl=en http://www.newstower.blogspot.com/
