Indian govt provides a press release to explain NRI taxation plan
Since releasing conflicting stories on taxation NRIs in different media houses, India’s government today released a statement to explain that the current law is not meant to include all the Indian nationals who are bonafide working in other nations into the tax net.
The special arrangement is not designed to include in the tax net those Indian citizens who are bonafide workers in other countries, as per the press release given by the government of India.
The current law is being viewed in some part of the media to create an illusion that those Indians who are bonafide employees in other nations, along with the Middle East, and those who are not entitled to tax in those regions, will be paid in India on the profits they received there. That understanding was not correct, according to the press statement.
The Finance Bill, 2020 has advocated that if an Indian citizen is not responsible for paying to be subsidized in any nation or authority, he shall be deemed refugee in India.
This is an extremely pro-abuse clause as some Indian people are found changing their remain in low or no tax jurisdiction to avoid paying tax in India, confirms the statement published today.