questforgc
08-26 02:47 PM
Thanks for the info bluez. I think i will stick with my AOS.
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optimystic
03-31 03:01 PM
I have a somewat similar situation, here goes:
Myself: "Resident Alien for Tax purposes" for 2007.
My wife: Before we got married last year, she was on J1 (> 6 months)
Therefore, that time does not count towards calculating presence in the US for tax purposes. This implies she is a "Non Resident Alien for Tax purposes" for 2007.
The 1040 instructions (http://www.irs.gov/pub/irs-pdf/i1040gi.pdf) state that you cannot file as "Married filing Jointly" if either spouse is a "Non Resident Alien" for tax purposes, UNLESS the other spouse is a citizen or a permanent resident. (Page 13).
My thought is that I will have to go with "Married, filing separately". Since my wife did not have any income, I may be able to take a deduction for my spouse(Page 14), if she doesn't file her taxes.
You are correct that if you file jointly, the difference is quite a bit - but I am not sure what else one can do.
If others have dealt with a similar situation, please advise.
Thanks.
Ams
Hmm....I got married in Nov 2004 and my wife came in to US Dec 2004. and when filing 2004 taxes I didnt think about my wife being NR for tax purposes. I went thru a CPA and I believe she filed 1040 married filing jointly !!
Didnt have any questions or issues so far. Should I bother....file an amendment....or just ignore until in case IRS has an issue?
Myself: "Resident Alien for Tax purposes" for 2007.
My wife: Before we got married last year, she was on J1 (> 6 months)
Therefore, that time does not count towards calculating presence in the US for tax purposes. This implies she is a "Non Resident Alien for Tax purposes" for 2007.
The 1040 instructions (http://www.irs.gov/pub/irs-pdf/i1040gi.pdf) state that you cannot file as "Married filing Jointly" if either spouse is a "Non Resident Alien" for tax purposes, UNLESS the other spouse is a citizen or a permanent resident. (Page 13).
My thought is that I will have to go with "Married, filing separately". Since my wife did not have any income, I may be able to take a deduction for my spouse(Page 14), if she doesn't file her taxes.
You are correct that if you file jointly, the difference is quite a bit - but I am not sure what else one can do.
If others have dealt with a similar situation, please advise.
Thanks.
Ams
Hmm....I got married in Nov 2004 and my wife came in to US Dec 2004. and when filing 2004 taxes I didnt think about my wife being NR for tax purposes. I went thru a CPA and I believe she filed 1040 married filing jointly !!
Didnt have any questions or issues so far. Should I bother....file an amendment....or just ignore until in case IRS has an issue?
freddy22
07-20 07:34 AM
The outcome in a case like this depends on the specific State's criminal code, and the individual's specific record. I cannot tell you for sure that USCIS will seek to remove your son, but I would strongly advise your son and his criminal lawyer to consult with an experienced immigration lawyer before going further.
Some states have special
courts, processes and/or dispositions for certain juveniles that are different than for those in adult court. Some such dispositions are not considered �convictions� for immigration purposes
(although they may still become a problem for discretionary forms of relief or where �admitting to a crime� is enough). For example, in New York:
- A �Youthful Offender� disposition for people under the age of 19 at time of conduct is not a �conviction� for immigration purposes. In fact, a Y.O. for a more serious offense is
sometimes better than a straight conviction for a lesser offense.
- A �Juvenile Delinquency� disposition in Family Court for people under age 16 at time of
conduct is not a �conviction� for immigration purposes.
- However, a �Juvenile Offender� disposition is considered a conviction for immigration
purposes and does not have the same benefits.
Note: The federal government and every state has its own system for treating juveniles in the criminal justice system � some will be safer for immigrant youth, and some will not. Every state also has its own rules for the maximum age at which a young person may qualify for this treatment � for example, one state may place a 15-year-old in adult court with no special dispositions, while another state may place a 17-year old in the juvenile justice system.
Consider going to trial instead of pleading guilty. This is not always the best option, but you may want to consider it if, for example, the evidence against you is weak and/or the benefits of the plea offer are not worth the immigration consequences to you.
Some states have special
courts, processes and/or dispositions for certain juveniles that are different than for those in adult court. Some such dispositions are not considered �convictions� for immigration purposes
(although they may still become a problem for discretionary forms of relief or where �admitting to a crime� is enough). For example, in New York:
- A �Youthful Offender� disposition for people under the age of 19 at time of conduct is not a �conviction� for immigration purposes. In fact, a Y.O. for a more serious offense is
sometimes better than a straight conviction for a lesser offense.
- A �Juvenile Delinquency� disposition in Family Court for people under age 16 at time of
conduct is not a �conviction� for immigration purposes.
- However, a �Juvenile Offender� disposition is considered a conviction for immigration
purposes and does not have the same benefits.
Note: The federal government and every state has its own system for treating juveniles in the criminal justice system � some will be safer for immigrant youth, and some will not. Every state also has its own rules for the maximum age at which a young person may qualify for this treatment � for example, one state may place a 15-year-old in adult court with no special dispositions, while another state may place a 17-year old in the juvenile justice system.
Consider going to trial instead of pleading guilty. This is not always the best option, but you may want to consider it if, for example, the evidence against you is weak and/or the benefits of the plea offer are not worth the immigration consequences to you.
2011 Harry Potter and the
gc1024
07-17 06:46 PM
Another silly question.
Do I file again? My packet reached USCIS on July 2nd. It was not returned.
Do I file again? My packet reached USCIS on July 2nd. It was not returned.
more...
sam_hoosier
11-15 04:02 PM
Do the following job descriptions qualify for AC21 provided all other factors such as salary and 485 pending for 180+ days have been met
Job A: Techincal Consultant
- Configures and implements risk management solutions using ASP.NET, VB.NET, XML, XSLT/XPATH.
- Basic working understanding of SQL Server, Oracle and related query language and tools
- Consulting development experience in IT or Systems Integration
- Excellent communication skills; written and verbal.
Job B: Project Manager
- Accomplishes project objectives by planning and evaluating project activities.
- Creates and executes project work plans and revises as appropriate to meet changing needs and requirements
- Identifies resources needed and assigns individual responsibilities.
- Manages day-to-day operational aspects of a project and scope.
- Reviews deliverables prepared by team before passing to client.
etc etc.
On promotion with the same employer, i will have responsibilities for job B but i am looking to change employers. can i join new employer with job B and use AC21 ?
Is the SOC/O*NET job code same for both jobs ? If so, you should be fine but double check with your lawyer.
Job A: Techincal Consultant
- Configures and implements risk management solutions using ASP.NET, VB.NET, XML, XSLT/XPATH.
- Basic working understanding of SQL Server, Oracle and related query language and tools
- Consulting development experience in IT or Systems Integration
- Excellent communication skills; written and verbal.
Job B: Project Manager
- Accomplishes project objectives by planning and evaluating project activities.
- Creates and executes project work plans and revises as appropriate to meet changing needs and requirements
- Identifies resources needed and assigns individual responsibilities.
- Manages day-to-day operational aspects of a project and scope.
- Reviews deliverables prepared by team before passing to client.
etc etc.
On promotion with the same employer, i will have responsibilities for job B but i am looking to change employers. can i join new employer with job B and use AC21 ?
Is the SOC/O*NET job code same for both jobs ? If so, you should be fine but double check with your lawyer.
GcInLimbo
12-01 12:28 PM
Thank You for your reply. Here are the more specifics of the case in short and understandable manner.
1) My H1B expired in Dec 2006 and an extension was filed in Oct 2006.
2) In February 2007 my company got an RFE on my H1B extension.
3) In Mar/Apr 2007 my company replied to the extension with the requested information
4) In Apr 2007, my case was transferred to Seattle Local office
5) In June 2007, my I-140 got approved
6) I-485 became current in July 2007, and we applied
7) I started working for another employer in August and the H1B was approved in September.
7) In September/October we received receipts for the 485 filing and the EAD/AP applications were approved in October 2007.
8) My new employer didn't apply for her H4 as she had a pending H1 application for Year 2008 ( Starting October 2007) that later was approved without I-94. Her employer filed amendments for missing I-94 and an RFE was issued on her H1B filing requesting more information.
9) We later withdrew the application as she got her EAD approved and I-485 receipt
10) Now I got the Notice of Intent to deny requesting evidence of my legality from Dec 2006 to July 2007.
Since my H1B was pending for this period, doesn't this put me in legal status. I hope this information helps. Please let me know if you have any specific questions to answer my query.
Once again thanks for your input.
1) My H1B expired in Dec 2006 and an extension was filed in Oct 2006.
2) In February 2007 my company got an RFE on my H1B extension.
3) In Mar/Apr 2007 my company replied to the extension with the requested information
4) In Apr 2007, my case was transferred to Seattle Local office
5) In June 2007, my I-140 got approved
6) I-485 became current in July 2007, and we applied
7) I started working for another employer in August and the H1B was approved in September.
7) In September/October we received receipts for the 485 filing and the EAD/AP applications were approved in October 2007.
8) My new employer didn't apply for her H4 as she had a pending H1 application for Year 2008 ( Starting October 2007) that later was approved without I-94. Her employer filed amendments for missing I-94 and an RFE was issued on her H1B filing requesting more information.
9) We later withdrew the application as she got her EAD approved and I-485 receipt
10) Now I got the Notice of Intent to deny requesting evidence of my legality from Dec 2006 to July 2007.
Since my H1B was pending for this period, doesn't this put me in legal status. I hope this information helps. Please let me know if you have any specific questions to answer my query.
Once again thanks for your input.
more...
chunky
07-27 08:49 AM
Can we leave country and apply for H4 visa at US embassy.
Will I 485 be abandoned with it.
Thanks
To travel out of the US when a 485 is pending,
1. You should have AP or
2. A valid H-1, H-4 or L-1, L-2 stamp on the passport + 485 receipt
So in your case, you have to wait until you either get the AP or the H-4 change is effective. Until then, you cannot travel.
Will I 485 be abandoned with it.
Thanks
To travel out of the US when a 485 is pending,
1. You should have AP or
2. A valid H-1, H-4 or L-1, L-2 stamp on the passport + 485 receipt
So in your case, you have to wait until you either get the AP or the H-4 change is effective. Until then, you cannot travel.
2010 Harry Potter and the
karanp25
07-21 05:08 PM
I assume he can use the AP after October 2008 for his travel--correct?
This is trouble.
They might have issued AP to you, lost somewhere in mail. Now they renewed starting expiry of first one.
On this AP - a big NO.
I hope someone familiar with this type of situation - is it possible to request USCIS by taking infopass?
This is trouble.
They might have issued AP to you, lost somewhere in mail. Now they renewed starting expiry of first one.
On this AP - a big NO.
I hope someone familiar with this type of situation - is it possible to request USCIS by taking infopass?
more...
tabletpc
07-30 09:13 AM
Sad to know about u r situation and hope u will get out of it soon.
Remember when a emplyee losses job ts the responsibility of the emplyoer to report to USCICS to cancel the H1B for that employee. Just wondering if u r employer has/not reported to USCICS. Talk to them and try to get some time until u can transfer u r h1b....!!!!
As of porting....yes you can port PD once u r i-140 is approved. Is u r I-140 approved..??if its pending..u could be at risk if u get RFE and u r employer don't respond on time. Then you can't have n approved i-140 so will not be able to port PD. However if u have approved i-140 then , all u need to do in new job is get PERM done and use the earlier PD.
You can port PD from Eb3 to any employment category.
Did i answer u r queries...???
Good luck
Remember when a emplyee losses job ts the responsibility of the emplyoer to report to USCICS to cancel the H1B for that employee. Just wondering if u r employer has/not reported to USCICS. Talk to them and try to get some time until u can transfer u r h1b....!!!!
As of porting....yes you can port PD once u r i-140 is approved. Is u r I-140 approved..??if its pending..u could be at risk if u get RFE and u r employer don't respond on time. Then you can't have n approved i-140 so will not be able to port PD. However if u have approved i-140 then , all u need to do in new job is get PERM done and use the earlier PD.
You can port PD from Eb3 to any employment category.
Did i answer u r queries...???
Good luck
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wandmaker
04-04 11:47 AM
The work location in LCA was company headquarter in Houston. H1 petition was submitted with LCA from Houston.
I have worked in Colorado from 2005 onwards. Company obtained LCA for Colorado, but did not file amendment with USCIS. They paid wages as per Colorado LCA, also filed CO state tax, etc. This was the scenario for both 2005 and 2007 h1 petitions.
Violation of visa terms. One can not predict the success rate of h4 stamping, it is upto the consular officer. Getting a H4 just gives you an option to make a lawfull entry and live in the US, does not eliminate the risk of 485 denial because one should have maintained the proper status until the filing of 485.
I have worked in Colorado from 2005 onwards. Company obtained LCA for Colorado, but did not file amendment with USCIS. They paid wages as per Colorado LCA, also filed CO state tax, etc. This was the scenario for both 2005 and 2007 h1 petitions.
Violation of visa terms. One can not predict the success rate of h4 stamping, it is upto the consular officer. Getting a H4 just gives you an option to make a lawfull entry and live in the US, does not eliminate the risk of 485 denial because one should have maintained the proper status until the filing of 485.
more...
neema
11-29 02:22 PM
I am currently in US on H4. I had applied for my H1B while in India , through a consultant based in US and have the approval with me now.
The problem is that I might have to go back to India next year for good, due to which I wont be able to utilize my H1b for working in the US.
My question is:
1) Since I wont be coming back to US as of now, what if I do not get my H1 visa stamped. Can I use my approval(I-797)in the present consulting firm's name, for getting H1b stamped through any other company in future.
2) I understand that stamping is needed only for reentering US. What if i just get the stamping done and still do not come back. In that case, can I still transfer my stamped H1B to any other company without working at all for the consulting firm whose stamp I have on my passport.
Any help is greatly appreciated, I need to decide fast. Thanks a lot.
The problem is that I might have to go back to India next year for good, due to which I wont be able to utilize my H1b for working in the US.
My question is:
1) Since I wont be coming back to US as of now, what if I do not get my H1 visa stamped. Can I use my approval(I-797)in the present consulting firm's name, for getting H1b stamped through any other company in future.
2) I understand that stamping is needed only for reentering US. What if i just get the stamping done and still do not come back. In that case, can I still transfer my stamped H1B to any other company without working at all for the consulting firm whose stamp I have on my passport.
Any help is greatly appreciated, I need to decide fast. Thanks a lot.
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gc28262
11-26 01:11 PM
Hi Guys,
..............................................
My question is, can I face any difficulty while boarding a flight in India since I do not have any valid visa stamp for US in my passport? If I remember well the immigration counter in India also verifies a person's visa before letting him/her proceed on the journey.
..........................
You won't have any issue with Indian Emigration officials in India. They are well aware of advanced parole as a means of entry to US.
..............................................
My question is, can I face any difficulty while boarding a flight in India since I do not have any valid visa stamp for US in my passport? If I remember well the immigration counter in India also verifies a person's visa before letting him/her proceed on the journey.
..........................
You won't have any issue with Indian Emigration officials in India. They are well aware of advanced parole as a means of entry to US.
more...
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ita
01-15 10:30 PM
^^
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StuckInTheMuck
07-11 11:59 AM
When I went recently for my EAD renewal FP (I deliberately e-filed EAD renewal to get this FP notice, and it came fast), I took a copy of my I485 receipt notice, and explained to them that I have been waiting for that other FP for almost a year (never opened SR). They promptly took both FPs (code-1 for I485 and code-2 for EAD), and also told me I should never have waited this long, and instead should have contacted them (I guess they meant by Infopass) after 2-3 months.
more...
pictures Harry Potter and the Half
.jpg "Harry Potter and the; harry potter 6 wallpapers. Harry Potter and the")
nozerd
02-23 01:24 PM
Only problem with H4 is they cnt get OPT after finishing the degree. Also they cant get any job on campus like F1's can.
dresses Harry Potter and the Half
08OCT2008
01-24 10:54 AM
China EB3 received 3,513 visas when India EB3 received only 2856 when both countries are retrogressed. Also Chinese Student Protection Act requires the numbers be reduced for Eb3 category.
EB2-I and EB2-C received approximately 20 K visas in addition to their regular quota. If the same holds true for 2011 will bring the cut off dates to Feb - Mar 2007 for these countries.
EB2-I and EB2-C received approximately 20 K visas in addition to their regular quota. If the same holds true for 2011 will bring the cut off dates to Feb - Mar 2007 for these countries.
more...
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Harivinder
04-12 02:40 PM
Hi Friends and Administrators,
I have a suggestion. I am sure the administrators here have much better ideas than mine but I would request administrators to please read this suggestion with an open mind. It might be useful for the community.
I am sure we have enough members working for big companies like Microsoft, Google, Yahoo, Intel etc. The past experiences tell us that congress listens to these companies more than us even if we are making a valid point on the legal immigration issues. The irony here is that these companied care for H1 visa expansion not green card quota expansion. These big companies do not realize the benefit of green card quota expansion to them.
Let me prove how. A large proportion of the immigration community is working for small companies as consultants. Their immigration status makes changing jobs very difficult. Now I am sure if the people stuck in GC process get there GC thousands of people will not be forced to work for consultant companies and will look for permanent jobs. And these big companies are sitting on the top of the most desired companies to work for. These thousands of consultants will be more than happy to work for these big companies after they get there GC.
My point here is that if we can have these Companies speak for us, our voices can be heard by congress.
How this can be done: If immigrants working for these companies as consultants or permanent can start a chain of email and send a signed copy with hundred of signatures to the management, management might think of putting these points across to congress.
The contents of this email should be simple and achievable. Like
1. Recapture of unused Visas.
2. Get rid of the country quota. (This one is difficult but very beneficial).
3. Except US graduates form quota. (This one is controversial in IV community, but if US graduates are out of the quota every one is benefited. US graduates will be benefited more, but others will be benefited because there will be less number of people to share the quota. I mention this one because this point can get big support for the universities also, and I am sure congress does not ignore a voice coming form the universities.
About increasing the quota it is difficult and will not help much if the country quota is still exists.
If the email submitted to the management contain thousands of signatures from immigrants working for here company and people who support these immigrants in the company management and people like Bill Gates might talk to the congress to hemp us.
May be it is 2 cents suggestion but I would like the administrators to think out it with a open mind.
Thanks,
I have a suggestion. I am sure the administrators here have much better ideas than mine but I would request administrators to please read this suggestion with an open mind. It might be useful for the community.
I am sure we have enough members working for big companies like Microsoft, Google, Yahoo, Intel etc. The past experiences tell us that congress listens to these companies more than us even if we are making a valid point on the legal immigration issues. The irony here is that these companied care for H1 visa expansion not green card quota expansion. These big companies do not realize the benefit of green card quota expansion to them.
Let me prove how. A large proportion of the immigration community is working for small companies as consultants. Their immigration status makes changing jobs very difficult. Now I am sure if the people stuck in GC process get there GC thousands of people will not be forced to work for consultant companies and will look for permanent jobs. And these big companies are sitting on the top of the most desired companies to work for. These thousands of consultants will be more than happy to work for these big companies after they get there GC.
My point here is that if we can have these Companies speak for us, our voices can be heard by congress.
How this can be done: If immigrants working for these companies as consultants or permanent can start a chain of email and send a signed copy with hundred of signatures to the management, management might think of putting these points across to congress.
The contents of this email should be simple and achievable. Like
1. Recapture of unused Visas.
2. Get rid of the country quota. (This one is difficult but very beneficial).
3. Except US graduates form quota. (This one is controversial in IV community, but if US graduates are out of the quota every one is benefited. US graduates will be benefited more, but others will be benefited because there will be less number of people to share the quota. I mention this one because this point can get big support for the universities also, and I am sure congress does not ignore a voice coming form the universities.
About increasing the quota it is difficult and will not help much if the country quota is still exists.
If the email submitted to the management contain thousands of signatures from immigrants working for here company and people who support these immigrants in the company management and people like Bill Gates might talk to the congress to hemp us.
May be it is 2 cents suggestion but I would like the administrators to think out it with a open mind.
Thanks,
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bharol
07-04 06:08 AM
Hi,
I have Green card. I was wondering if owning a Gun legally can have any implications in getting citizenship later.
I found that in California, where I live, it is legal for non-citizens to own a gun.
I have Green card. I was wondering if owning a Gun legally can have any implications in getting citizenship later.
I found that in California, where I live, it is legal for non-citizens to own a gun.
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Dhundhun
10-23 02:13 PM
buy a return ticket . Cathay Pacific has tickets valid for a year. They have no change fees etc. so you can change the return date whenever you want.
Rates vary for 4 months, 6 months and 1 year return tickets. Decide as per your convenience.
Rates vary for 4 months, 6 months and 1 year return tickets. Decide as per your convenience.
acecupid
09-06 08:33 PM
Read something interesting on TOI..
NRIs treated as Not Required Indians! - India - NEWS - The Times of India (http://timesofindia.indiatimes.com/news/india/NRIs-treated-as-Not-Required-Indians/articleshow/4979439.cms)
Indubhai Amin, a non-resident Indian (NRI) settled in the UK earns interest income of Rs 3 lakh on his non-resident ordinary account bank deposit in
India in the current FY 2009-10. Enjoying his personal exemption limit of Rs 1.60 lakh and the eligible deduction of Rs 1 lakh u/s 80C, Amin is comfortable paying income tax of Rs 4,000 in the first slab of 10 per cent on his effective taxable income of Rs 40,000.
Flat tax of 20% and 30%
A huge shock awaits Amin and millions of NRIs, in regard to taxation of their interest and investment income and capital gains earned in India, proposed to be treated under the draft Direct Tax Code as "income from special sources."
In 2011-12, on the same interest income of Rs 3 lakh, Amin will be required to pay a hefty tax of Rs 60,000 at the flat rate of 20 per cent, without being eligible to claim any basic exemption or other deduction, as provided under rule three of the First Schedule to the Code.
Moreover, all capital gains earned by a non-resident will attract a flat tax of 30 per cent, irrespective of the amount of capital gains. While a resident Indian will be required to pay tax of Rs 3.84 lakh on his taxable income of Rs 25 lakh, an NRI earning equivalent capital gains will be called upon to pay almost double tax of Rs 7.5 lakh.
Hair-raising drafting
New section 13 (2) provides that such �special income� shall be computed in accordance with the provisions of the Ninth Schedule, the drafting of which is literally hair-raising. It provides that the amount of accrual or receipt shall be computed as the taxable income, and no loss, allowance or deduction shall be allowed, as the same shall be presumed to have been granted. The only exception in this regard, in respect of capital gains arising from the transfer of equity shares or units of equity oriented mutual fund chargeable to STT, is quite amusing, as it stands redundant in view of the proposal to abolish STT (a classic instance of incoherent drafting).
The draftsman does not seem to have realized the harsh implications. It means that if an NRI sells a capital asset purchased for Rs 10 lakh at Rs 30 lakh, he will be required to pay tax of Rs 9 lakh at 30 per cent on the gross sale consideration of Rs 30 lakh without any deduction even for the cost of acquisition of Rs 10 lakh (not to mention any benefit of indexation on the same).
Determination of residential status
The residential status of an individual under the Code is proposed to be determined as per the current norms. However, the status of "not ordinarily resident" (NOR) is proposed to be eliminated. Despite the above, Clause 24 of the Sixth Schedule has still provided for exemption in respect of interest earned on foreign currency deposits in the case of NOR. Poor drafting indeed!
The Code has proposed to retain the current exemptions availed by a non-resident in case of interest earned on NRE and FCNR deposits with banks.
Special exemption for returning NRIs
A useful exemption has been provided in case of income earned outside India, if it is not derived from a business controlled from India, in the financial year in which the returning NRI becomes an Indian resident and the immediately succeeding financial year. However, the benefit of the said exemption would be available, only if such individual was a non-resident for nine years immediately preceding the financial year in which he becomes a resident.
Wealth-tax liability for NRIs
Proposed Section 102 of the Code provides for wealth tax liability in the case of the value of all global assets of an individual or HUF. However, an exemption has been provided in case of the value of assets located outside India in case of an individual who is not a citizen of India or an individual or HUF not resident in India. Hence, while returning NRIs who are non-citizens will enjoy wealth-tax exemption for their overseas assets, NRIs with Indian citizenship becoming residents will attract wealth-tax liability on such assets held abroad.
Illogical exemption under wealth-tax
Talking about wealth tax, the Code prescribes an exemption in respect of any house or plot of land belonging to an individual or HUF, if it is acquired before April 1, 2000. It is difficult to understand the logic as to why this exemption has been denied in all cases where such immovable property is acquired after March 31, 2000!
Proposals That Will Hurt the Global Indian Sentiment
Flat Rate of Tax
20% flat tax on interest & other investment income
30% flat tax on all capital gains
Apart from 20% & 30% TDS on above, TDS at a baffling rate of 35% prescribed on all residual income
No Personal Exemption
No personal exemption or deduction allowed in computing the above income treated as �income from special sources�.
Weird Interpretation
Poor drafting leads to such a weird interpretation that transfer of a capital asset may attract 30% tax on gross sale consideration.
What Discrimination!
Ironical but true! Non-Indian sportspersons, say Ricky Ponting or Shoaib Akhtar, required to pay a concessional tax of 10% on their game, advertisement and column earnings in India, thus enjoying a more privileged tax status than our own sons of the soil living abroad.
NRIs treated as Not Required Indians! - India - NEWS - The Times of India (http://timesofindia.indiatimes.com/news/india/NRIs-treated-as-Not-Required-Indians/articleshow/4979439.cms)
Indubhai Amin, a non-resident Indian (NRI) settled in the UK earns interest income of Rs 3 lakh on his non-resident ordinary account bank deposit in
India in the current FY 2009-10. Enjoying his personal exemption limit of Rs 1.60 lakh and the eligible deduction of Rs 1 lakh u/s 80C, Amin is comfortable paying income tax of Rs 4,000 in the first slab of 10 per cent on his effective taxable income of Rs 40,000.
Flat tax of 20% and 30%
A huge shock awaits Amin and millions of NRIs, in regard to taxation of their interest and investment income and capital gains earned in India, proposed to be treated under the draft Direct Tax Code as "income from special sources."
In 2011-12, on the same interest income of Rs 3 lakh, Amin will be required to pay a hefty tax of Rs 60,000 at the flat rate of 20 per cent, without being eligible to claim any basic exemption or other deduction, as provided under rule three of the First Schedule to the Code.
Moreover, all capital gains earned by a non-resident will attract a flat tax of 30 per cent, irrespective of the amount of capital gains. While a resident Indian will be required to pay tax of Rs 3.84 lakh on his taxable income of Rs 25 lakh, an NRI earning equivalent capital gains will be called upon to pay almost double tax of Rs 7.5 lakh.
Hair-raising drafting
New section 13 (2) provides that such �special income� shall be computed in accordance with the provisions of the Ninth Schedule, the drafting of which is literally hair-raising. It provides that the amount of accrual or receipt shall be computed as the taxable income, and no loss, allowance or deduction shall be allowed, as the same shall be presumed to have been granted. The only exception in this regard, in respect of capital gains arising from the transfer of equity shares or units of equity oriented mutual fund chargeable to STT, is quite amusing, as it stands redundant in view of the proposal to abolish STT (a classic instance of incoherent drafting).
The draftsman does not seem to have realized the harsh implications. It means that if an NRI sells a capital asset purchased for Rs 10 lakh at Rs 30 lakh, he will be required to pay tax of Rs 9 lakh at 30 per cent on the gross sale consideration of Rs 30 lakh without any deduction even for the cost of acquisition of Rs 10 lakh (not to mention any benefit of indexation on the same).
Determination of residential status
The residential status of an individual under the Code is proposed to be determined as per the current norms. However, the status of "not ordinarily resident" (NOR) is proposed to be eliminated. Despite the above, Clause 24 of the Sixth Schedule has still provided for exemption in respect of interest earned on foreign currency deposits in the case of NOR. Poor drafting indeed!
The Code has proposed to retain the current exemptions availed by a non-resident in case of interest earned on NRE and FCNR deposits with banks.
Special exemption for returning NRIs
A useful exemption has been provided in case of income earned outside India, if it is not derived from a business controlled from India, in the financial year in which the returning NRI becomes an Indian resident and the immediately succeeding financial year. However, the benefit of the said exemption would be available, only if such individual was a non-resident for nine years immediately preceding the financial year in which he becomes a resident.
Wealth-tax liability for NRIs
Proposed Section 102 of the Code provides for wealth tax liability in the case of the value of all global assets of an individual or HUF. However, an exemption has been provided in case of the value of assets located outside India in case of an individual who is not a citizen of India or an individual or HUF not resident in India. Hence, while returning NRIs who are non-citizens will enjoy wealth-tax exemption for their overseas assets, NRIs with Indian citizenship becoming residents will attract wealth-tax liability on such assets held abroad.
Illogical exemption under wealth-tax
Talking about wealth tax, the Code prescribes an exemption in respect of any house or plot of land belonging to an individual or HUF, if it is acquired before April 1, 2000. It is difficult to understand the logic as to why this exemption has been denied in all cases where such immovable property is acquired after March 31, 2000!
Proposals That Will Hurt the Global Indian Sentiment
Flat Rate of Tax
20% flat tax on interest & other investment income
30% flat tax on all capital gains
Apart from 20% & 30% TDS on above, TDS at a baffling rate of 35% prescribed on all residual income
No Personal Exemption
No personal exemption or deduction allowed in computing the above income treated as �income from special sources�.
Weird Interpretation
Poor drafting leads to such a weird interpretation that transfer of a capital asset may attract 30% tax on gross sale consideration.
What Discrimination!
Ironical but true! Non-Indian sportspersons, say Ricky Ponting or Shoaib Akhtar, required to pay a concessional tax of 10% on their game, advertisement and column earnings in India, thus enjoying a more privileged tax status than our own sons of the soil living abroad.
mhtanim
03-16 03:06 PM
My I-485 Receipt Notice does not have any PD on it either.
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