5% TAX ON FOREIGN INCOME FOR NRI STARTING 2009 -10
 
Government of India today announced imposition of a flat 5% tax on all NRIs over their world-wide income.
Income that is already taxed in India has been kept out of the purview to avoid double taxation.
No double taxation benefits would be available for this 5% tax, meaning even if you are paying tax on your income in a country with which India has double taxation agreement, the benefit would not be allowed against this 5% tax.
All those Indians who are holding Indian Passports and have been out of the country for more than 180 days during the year are under this requirement. Income proof would have to be submitted in form of employer certificates, foreign tax filings etc.
 
Indian government is also coordinating with Australia , Europe, America , UAE and other countries on collecting Income data for its citizens as part of data sharing initiative on terror prevention measures. This has been hailed as bringing in compulsory participation in development of India from Non resident Indians.. This means NRIs can no more just continue to retain their Indian citizenship without paying taxes in India . Though it may not be favorable in view of the NRIs who already bring substantial forex in form of remittances and Investments. This is bound to cause a lot of heart burn for the Indian community residing outside.
 
This is expected to generate ~10 Billion INR tax collection for the government in the year 2009-10...
For more information on this rule, tax filings and forms visit
http://www.incometaxindia.gov.in/       

same here :angr: :angr: :angr: :angr: :angr: :angr:

i paid about 4000+ dollars tax this year

i paid about 4000+ dollars tax this year

To australia I guess, but you don't know about America man. 1/3 of our money goes into taxes and funding stupid wars in other countries.

About this Indian tax stuff, this is going to be hard to enforce. You have to remember nobody in India pays taxes, except those people that want to be in politics or get government job (even then some don't)

infact*

tax haigi te vadiya cheej,,,
keuki ehe government jehriya sahulta lagu kardi ehe apne lai he hundiya... ehde vich hai te bahout sare pange, per aggr tax na pay karuge fer jehre madde mote kam chalde paye oh ve band ho jane sarkar de :happy:

Yeah in NZ there is IRD number ( you get FWT exemption on your super payouts man)
In Australia we have TFN- Tax file number we dont get any exemption
and in india many people dnt pay any taxes.. thats why they are thinking to target NRI's

LOL ese lai te india vich maddi halat vadhdi...

u guys remember peche jehe India vich adds chaliya c TAX bare dasdiya c joo...  :happy:

HAHA Deep, I meant few.

par yaar India vich pata hai sarea nu ke jo tax sarkar kol geya, oh sarkari auhdedaar hi kha jaange, ohda faida kise nu ni hunda. pehal sarkari auhdedar karan, fer janta ohna de piche laggu.  ajj kal tan waarh hi bagh nu khayi jandi aa.

chare passe ehi haal, bass india jeada famous ho geya  :hehe:

aha peche jehe New jesry vich mayar fadd hoya
and thore dinda bahd ik hor enha di gal nikali c,, Roop ney thread banaya c new de k

 :woried: :woried:

Menu tan lagda c, India ch koi tax ni bharda.
 :laugh: