From: Sam Shah <email@example.com>
Date: August 6, 2011 2:20:38 PM MDT
Subject: Tax on NRI OCI
I got this email, I do not how much is true for NRI Tax.
Indian Government STRIKES again to take advantage of Overseas Citizens of India … Read the story below publsihed in India Abroad July 29, 2011.
IS THIS TRUE???
something to chew on.
: Be Aware NRI – OCI !!!
Friends : Quote : You can take an Indian out of India but You can’t take India out of an Indian !!
You may be surprise as Indians, what corrupt governments of India wants from NRI and OCI.
Do you know all ” OCI ” are subject to Indian Legal System in India ?
They want all your income, either abroad and at India to be included for the income tax purposes. Thick skin corrupt Income Tax officers knows how to qualify and subject you
for these taxes. You will have fun dealing with them !!
What Letters of loyal Readers of ” India Abroad ” says :
Quote: Direct Tax Code Bill 2010 was placed on the anvil.
New bill threatens to make NRIs residents subject to local income tax codes, if they stay in India for just 60 days or more in a fiscal year against the current limit of 182 days. Once NRIs are deemed residents their foreign Income will be subject to Income Tax in India. Moreover they would have to pay wealth taxes for financial assets like Bank deposits, houses etc outside India.
Unquote: Established statistics confirm that each NRI spent an average US $ 8000.00 during their stay in India. Lot more for wedding and Major purchases. Daily 12000 NRI visit India from around the globe.
Calculate spending power of NRI in India: It amounts to $$ 96000,000.00 X 365 days. annually. ( 12000 pax daily X $ 8000.00 each = $ 96000,000.00 )
Here are your choices :
1) Require burning desire to teach lessons to these corrupt governments.
2) Boycott India Visit for one year from January 2012. Not even for weddings.
3) Do not send your hard earned $$ to India for any reason.
4) Only visit India for compulsions such as death in the family.
5) Tell all your friends and family members around the globe to join this
Campaign starting Jan 2012.
6) If you agree, forwards this to every one on your list.
7) Keep adding your valid reason for the cause.
8) IF YOU DON’T DO IT. NO ONE WILL !!! IF YOU DID NOT CHANGE THE
WORLD THAT YOU DON’T LIKE. IT’S YOUR FAULT !!
“Bhagwan aap sab ka bhala kare aur politicians ko kangal kare “
NB : Chances are Airfare can go down in 2013.
1234 Eagle Nest Lane,
Knoxville, TN 37922
I suggest please ask the Consulate General for the truth about this. – Skand