Posted on: 08-06-12 15:58:08
Quote:
Originally posted by web2000
60 days in India in a year, he will become tax resident in India and will have to file tax return even if he had no income in India.
Isnt the tax filing exempted for those with income < exemption limit?
UID is supposed to link everything. Like SSN or SIN. But it has a long way to go. By that time things would have changed. Netas and lalas will find ways to hoodwink the system to avoid paying tax.
Quote:
Originally posted by aqua
Quote:
Originally posted by web2000
60 days in India in a year, he will become tax resident in India and will have to file tax return even if he had no income in India.
Isnt the tax filing exempted for those with income < exemption limit?
No, because one has to declare foreign assets also even though there is no tax on foreign assets.
It is the declaration exercise which makes it hassle for every NRI.
In the past there was no need to file income tax return if the income was less than exemption limit. Now it will be mandatory.
