> > *Dear friends i am sharing * > ** > *AS RECIEVED***** > *NEW INDIAN RULES FOR TAXATION FROM APRIL/2012 * **** > **** > 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 children’s 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 available 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:**** > · If he is in India for a period or periods repeat periods > aggregating to 182 days or more in a financial year**** > OR**** > · 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.**** > 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 > notwithstanding the fact the he may be a person resident outside India > under the provisions of the foreign exchange management act 1999.**** > **** > **** > **** > **** > * Requested Enlightening from the expert on income tax laws for the > information of NRI members.* > > ** * * <http://sig.graphicsfactory.com/>*
நல்லதுசெய் நல்லதே நடக்கும் *जन सेवा ईश्वर सेवा * *cnu.pne*
