NRI Tax உண்மைகளும் பொய்களும் | அயல்நாட்டில் ரத்தம் இந்தியாவில் வரியா | Tamil Pokkisham | Vicky | TP

NRI Tax உண்மைகளும் பொய்களும் | அயல்நாட்டில் ரத்தம் இந்தியாவில் வரியா | Tamil Pokkisham | Vicky | TP

February 10, 2020 100 By Sebastian Fry


We are working in foreign countries. We work and send the money home. Do we have to give tax to India or not?
Please talk about NRI tax. How much has the Central govt sanctioned for defence?
What idea does the Central govt have in Foreign Policies? We will discuss in detail in this post. Beloved Tamil People. Greetings from Tamil Pokkisham. Which products due to this budget will increase in Price? A Viewer has asked about the Defence Budget. When it comes to the defence of the country they have sanctioned nearly 4.17 Lakh Crores. Nearly 28% is for the Pension fund. This year it is a 16% increase compared to last year. What is the reason behind 4.17 Lakh Crore for Defence? A request from all Generals to turn our army into Advanced Military. Recently we have appointed a Cheif General for the Three Sections of the Military. He will be responsible to buy weapons from other countries and also he will decide how many should be recruited into the army. So through this budget, his work may commence. Even though we have sanctioned 16% for Security our Aviation Sector has been decreased by 2.3% compared to last year. Next comment from the viewer. Public Sector is not doing their jobs, this is the reason behind Private Sectors Domination. This is a 100% Precise comment. Why Privatization? If a Public Sector of a Dept in the govt doesn’t do its job correctly, for doing their jobs we have to give them money as a Bribe. If we give money also they take their sweet time to complete the work. This is why people are interested in Private Sectors. So people in the Public Sector now, if you don’t change the System then the govt will have to move to the Private Sector. So there will be no Govt jobs for the future generation. Corruption is everywhere now. Govt officials have to decide how the system is going to change in the future. Many accuse Govt officials. Through their experience, they say that don’t believe in Public sector go to the Private Sector. For even buying a Sim there are so many issues now. Next Comment was Is there anything about the Dept of Fisheries? There were some announcements. We should improve our export to 200 Lakh Tons. Next is Friend of the Sea. Saghar Mitharakal. A New Job has been created. These jobs will be filled by Fishermen from Fishing Villages. They will work for Fisherman and the Fisheries Dept. This is a request to the Govt how they will handle these Jobs and salaries given to the employees. In our world, People who work for Fisherman are very low. We raise our voices for farmers but leave out the Fishermen. A Product which is good in quality and doesn’t spread any disease in Fish. So these Fishermen need our Full support. Next Comment: MP Seats can be changed to Private Sector. Great Idea. If we change that Private, everyone will work perfectly. They will run to us to work. But they can’t do it. Our law prohibits that change. Next Comment:
I am working in UAE. I send 30000 to 40000 monthly home. Yearly 2 months I visit India.Do I have to pay tax? He is in UAE. He sends 30000 to 40000rs Per month home. He comes home for two months yearly. Next Comment is Talk about NRI. There is new info about NRI. If you are working abroad. You are receiving a monthly salary. For some countries, you don’t have to pay tax. But when you send the money Do you have to pay tax or not?. The answer is NO. You don’t have to pay a tax that is the new announcement. You are working in a country which has no TAx. So when you send that money back home, Why should you pay tax? This is the question raised by our Fiance Minister. Who has to pay tax? We have to understand the difference between Indians and Indians Living Abroad. A person who lives in India for 120 days means you are an Indian. So if you have lived below 120 days then you are not Indian but Indian Living Abroad. This is NRI. So your house is in India but you work Aborad. So if you are just staying for 2 months in your house your NRI status will be active. So after living for 120 days and going abroad will it make as NRI? There is a condition here. We have an agreement with the UAE, we can avoid double tax if you are working in the UAE. If you have a House in UAE you can prove to India that you are an NRI. So if you are staying abroad for 240 days and can show residence and if you pay there then you don’t have to pay tax in India. Why did they include this word into the budget? In a rich family, they are sending their one child aboard. For 180 days he is asked to stay aborad. So according to last year, you will be an NRI if you stay for 180 days aboard. So he may stay in Canada for 30 days, 50 days in the US, the remaining 50 days he may be in Malaysia. So he spends 180 in many countries. So when he returns he says he is an NRI. While whe was aborad he earned this much crore aboard. Then using this they show it to the govt. They say that the profits earned by the family belong to the NRI. So they don’t pay the taxes. TO stop this our govt has asked to show a permanent residence aboard. So if a Person stays for 50 days in one country that person cant show their permanent residence. So through this new law, he has to pay taxes. So 140 days has been changed to 240 days. So these people now have to stay up to 240 days aborad. So the people who want to avoid Taxes by earning huge amounts of money this is a warning for you guys. We don’t know what will happen when it comes to order. So the monthly earners you guys are not affected by this law. Through Indians living aboard, we are receiving Foreign Exchange. So the govt will not come to that decision. For the people who think that they can get away without paying taxes, this is checkmate for them. Another Comment. If a bank goes bankrupt, and if we have a deposit with them where 5 lakh will be given as compensation for the investor. What happens when you have deposits low than 5 lakh?. There was an announcement in the budget. For ex: You have deposited 10 lakh in a bank, the bank went bankrupt. When this happens you will not receive the 10 Lakh but you will be paid only 1 lakh. An organisation will give you the money called Depositors Insurance Credit Corporation. This is a branch of the RBI. So if you deposit 10 lakh and the bank went bankrupt. You now will receive 5 lakh as surety. Through this, the govt thinks that now people will come forward to deposit money. This is their expectations. The govt thinks that Indians will increase their deposits as they are assured 5 lakh if a bank went bankrupt. I have deposited 2 lakh and the bank went bankrupt. What will happen now? You may get 20000 or 30000rs. You will not receive 1 lakh. Bankrupt is a rare case. So when that case happens we can see the results. There is a Dept of External Relations.
How much money has been changed for this dept? Nearly 17346 crore rupees. Through this money, India is going to help other countries. The help which they are doing now will continue. Some countries will receive huge money now. Some the amount has been reduced. For Bhutan in 2019, we gave nearly 2674 crore rupees. This year we have increased that amount to 2884 Crore rupees. Maldives help amount has been reduced and the amount is 1075 crore. For African countries, the amount is 350 Crores and for Bangladesh 200 Crores. For Srilanka 140 Crore. Latin American countries will receive 20 Crores. Finally, Mongolia will receive 2 crore rupees. Chabahar Port in Iran will receive 100 crore rupees. This is an initial budget. There will be a revised budget through that we may help other countries. The Money sanctioned for Depts may change in the future. There has been a decrease in the Stock market, as America Stock market is going down. Insurance companies have been left out in this budget. So through this info you can buy and sell your shares. Next comes gold. There is a fear that the stock market will go down. So many are trying to buy gold. This is the cause of the Gold rate which are high now. If you wait for a month it may come down. Comments about this post are Most Welcome. Please Do Subscribe for more Content “Sharing Good things to Create a Greater Community”

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