sintax321
09-04 03:32 PM
You are right that picture explains everything=)
wallpaper -Learning to Read Music
bluez25
08-26 02:09 PM
Yes.. I did my medicals done as soon I landed there. Got all the appoinments for the medicals before I started from here and the first thing I did was medicals.
Regarding the marriage certificate, I gave the marriage registration copy given by registrar. If the marriage certificate is in native langauage, they will not accept and they probably will need a translation affidavit. Please check the local Consulate for the exact format.
Yes.. I got in luckily 2.5 years. My priority date was feb 2006 and Eb2 category. I applied for CP when I applied for my i140 itself.
Regarding the marriage certificate, I gave the marriage registration copy given by registrar. If the marriage certificate is in native langauage, they will not accept and they probably will need a translation affidavit. Please check the local Consulate for the exact format.
Yes.. I got in luckily 2.5 years. My priority date was feb 2006 and Eb2 category. I applied for CP when I applied for my i140 itself.
go_guy123
09-25 10:53 AM
No worries,
go and check here: The Oh Law Firm (http://www.immigration-law.com/Canada.html)
in the above link go locating the following news line, read and enjoy
""08/14/2009: Will USCIS Discontinue Concurrent I-140/485 Filing Procedure, Replaced by Preregistration and Two-Tier Filing System? ""
Hmmm....more money for USCIS, 2 times filing and double fees.
go and check here: The Oh Law Firm (http://www.immigration-law.com/Canada.html)
in the above link go locating the following news line, read and enjoy
""08/14/2009: Will USCIS Discontinue Concurrent I-140/485 Filing Procedure, Replaced by Preregistration and Two-Tier Filing System? ""
Hmmm....more money for USCIS, 2 times filing and double fees.
2011 them how to read music!
bkn96
02-18 11:06 AM
Did you work during this period?
Yes, I worked during that time using EAD as I dont have H1b. My Lawyer said I can work as EAD was not revoked. I work for myself (self employment) through my own company.
Again I didn't get refund of MTR money... that is good news if we get our $585 fee back..
Yes, I worked during that time using EAD as I dont have H1b. My Lawyer said I can work as EAD was not revoked. I work for myself (self employment) through my own company.
Again I didn't get refund of MTR money... that is good news if we get our $585 fee back..
more...
Ann Ruben
07-17 09:32 PM
misdemeanors can be CIMT's if they involve theft or dishonesty. a single misdemeanor might qualify under the petty offense exception, but because your son now faces a second conviction, the petty offense exception won't apply. One question: are you a naturalized US citizen? If so, your son might actually be a US citizen as well.
puskeygadha
07-17 03:56 PM
They give very generic answer to clients
i dont think they care about individuals...
if they continue like this they will loose business..lots of people are
suffering
i dont think they care about individuals...
if they continue like this they will loose business..lots of people are
suffering
more...
snathan
09-29 09:21 AM
We have taken indian jewellary with us when we travelled to India. I dont think it is a problem and you dont have to declare it in customs. I think if you are carrying cold in the form on coins or bars, you will have to pay customs. I dont remember but it says in the customs form that personal jewellary need not be mentioned. I would check the india's customs website.
I never knew this....:D
I never knew this....:D
2010 on how to read sheet music
tempgc
09-24 01:27 PM
The green side of the story is, USCIS will try to attract new applications. For this DOS need to move the dates further.
OR
Introduce a new process of filing 485 for administrative processing (which is in talks) even before your PD is current as per visa bulletin as soon as 140 approval.
I see this good for people waiting to file for 485.
OR
Introduce a new process of filing 485 for administrative processing (which is in talks) even before your PD is current as per visa bulletin as soon as 140 approval.
I see this good for people waiting to file for 485.
more...
morchu
05-21 12:39 AM
I believe he just meant to say "not possible with one 140".
He just mentioned it in a confusing way.
"A petition approved on behalf of an alien under sections 203(b)(1), (2), or (3) of the Act accords the alien the priority date of the approved petition for any subsequently filed petition for any classification under sections 203(b)(1), (2), or (3) of the Act for which the alien may qualify. In the event that the alien is the beneficiary of multiple petitions under sections 203(b)(1), (2), or (3) of the Act, the alien shall be entitled to the earliest priority date."
The petition mentioned here is an I140 for EB1/EB2/EB3.
So it doesn't hurt to have more I140s approved. Whenever you do a "subsequent" petition, you just claim the earliest priority date (of the already approved ones).
I understand two I-140s, one existing (EB-3) and second new I-140 (EB2), but you have also mentioned more. Why need more than two, in what circumstances?
He just mentioned it in a confusing way.
"A petition approved on behalf of an alien under sections 203(b)(1), (2), or (3) of the Act accords the alien the priority date of the approved petition for any subsequently filed petition for any classification under sections 203(b)(1), (2), or (3) of the Act for which the alien may qualify. In the event that the alien is the beneficiary of multiple petitions under sections 203(b)(1), (2), or (3) of the Act, the alien shall be entitled to the earliest priority date."
The petition mentioned here is an I140 for EB1/EB2/EB3.
So it doesn't hurt to have more I140s approved. Whenever you do a "subsequent" petition, you just claim the earliest priority date (of the already approved ones).
I understand two I-140s, one existing (EB-3) and second new I-140 (EB2), but you have also mentioned more. Why need more than two, in what circumstances?
hair learning how to read music
STAmisha
11-14 02:17 PM
Got notification from lawyer that my RIR for LC got rejected. It is pending in Phily BEC with a PD of Oct 2003.
What does this mean? Kiss my LC good bye? Please explian
What does this mean? Kiss my LC good bye? Please explian
more...
chanduv23
12-24 02:25 PM
Please post your own blog sites here if you have written articles about immigration and have any videos, cartoons, PSA etc....
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gk_2000
08-10 08:45 PM
You can read the details of the bill at
Text of H.R.5658 as Introduced in House: SKIL Act of 2010 - U.S. Congress - OpenCongress (http://www.opencongress.org/bill/111-h5658/text)
Apart from the provisions mentioned in my previous post, there are other favorable provisions too.
Oh you are talking about that 5658 one.. It's already been discussed in these forums. Someone pointed out that this was crafted by a senator who is about to retire, and has a co-sponsor from Hawaii. So it doesn't appear to be very strong and would most probably just die silently
Text of H.R.5658 as Introduced in House: SKIL Act of 2010 - U.S. Congress - OpenCongress (http://www.opencongress.org/bill/111-h5658/text)
Apart from the provisions mentioned in my previous post, there are other favorable provisions too.
Oh you are talking about that 5658 one.. It's already been discussed in these forums. Someone pointed out that this was crafted by a senator who is about to retire, and has a co-sponsor from Hawaii. So it doesn't appear to be very strong and would most probably just die silently
more...
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gimmeliberty
07-17 05:34 PM
Congratulations to IV and all it's members. Time to celebrate!
tattoo to know how to read music
nrakkati
08-15 02:20 PM
Is your packet is signed by R.Williams? where is your I-140 approved? and what is your PD?
I don't know who signed mine. I don't see that info when I enter my tracking number in USPS.com
I did not purchase "signature" service when I mailed my package.
I don't know who signed mine. I don't see that info when I enter my tracking number in USPS.com
I did not purchase "signature" service when I mailed my package.
more...
pictures to know how to read music
diptam
09-14 02:20 PM
We are employee of employers - not chained slaves of employers.
They can pay me less , they can scare me of revoking 140 , they can make me sign fictitious bonds for getting future employment letter BUT they can not take away my basic civil rights as a human being. As long as you professionally inform that will be taking day off for personal reasons - they are NOT supposed to ask what is that reason. You can tell the later unofficially that you attending Rally for peacefully supporting a good cause.
Nothing will happen to you
Just follow your heart - Will se you in DC
They can pay me less , they can scare me of revoking 140 , they can make me sign fictitious bonds for getting future employment letter BUT they can not take away my basic civil rights as a human being. As long as you professionally inform that will be taking day off for personal reasons - they are NOT supposed to ask what is that reason. You can tell the later unofficially that you attending Rally for peacefully supporting a good cause.
Nothing will happen to you
Just follow your heart - Will se you in DC
dresses to know how to read music
anilsal
08-15 12:11 PM
USCIS is making contradictory statements. First they release an update that they have processed all applications mailed before July 1 but when I call customer service and tell them that my application was mailed on June 11 and that I am still waiting for the checks to be cashed they say wait for 90 days.
Many July 2nd filers have had their checks cashed (as per ). Have you verified that your application reached on June 11 via fedex?
Many July 2nd filers have had their checks cashed (as per ). Have you verified that your application reached on June 11 via fedex?
more...
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GCmuddu_H1BVaddu
03-20 02:10 AM
I have limited knowledge on this but my own logical thinking
1) Your best bet is to have baby in US and go to India
2) Baby will not be granted any green card as there is no application present for the baby 3) You can't get the baby to US on H-4 as a dependent bcz you are on EAD
4) Either you can file for a visitor visa (through EAD) or file for H-1B for the baby ;-) (just kidding on H1B stuff)
Go for (1).
Hi Everyone,
Our Immigration status is EAD and my wife is pregnant,
We are very happy with the news..
There is lot of possibility for us to be in India during due date, based on few important events in family.
We would like to know.. if baby is born in India then what possere ibilities are there for us to bring baby along with us?
(if mother stays in India for couple of more months)
can baby also get Green Card when we (parents) are allotted green card?
All your advices are always appreciated.
Thanks & Regards,
Satya.
Note: Admins if required, please close this thread and redirect to any existing ones, as i could not find one I have posted a new thread.
1) Your best bet is to have baby in US and go to India
2) Baby will not be granted any green card as there is no application present for the baby 3) You can't get the baby to US on H-4 as a dependent bcz you are on EAD
4) Either you can file for a visitor visa (through EAD) or file for H-1B for the baby ;-) (just kidding on H1B stuff)
Go for (1).
Hi Everyone,
Our Immigration status is EAD and my wife is pregnant,
We are very happy with the news..
There is lot of possibility for us to be in India during due date, based on few important events in family.
We would like to know.. if baby is born in India then what possere ibilities are there for us to bring baby along with us?
(if mother stays in India for couple of more months)
can baby also get Green Card when we (parents) are allotted green card?
All your advices are always appreciated.
Thanks & Regards,
Satya.
Note: Admins if required, please close this thread and redirect to any existing ones, as i could not find one I have posted a new thread.
girlfriend Sinfonia Music - Piano Lessons
MerciesOfInjustices
05-22 12:48 AM
On Monday, May 22, 2006, a very important new study was released on the "impact of backlogs, processing delays, and long wait times on legal immigrants seeking to join the U.S. workforce as skilled employment-based and family-sponsored immigrants". Aman Kapoor and Shilpa Ghodgaonkar from IV spoke at the release as did Senator Cornyn! The title of the study says it very clearly - Legal Immigrants: Waiting Forever (http://www.nfap.com/researchactivities/studies/NFAPStudyLegalImmigrantsWaitingForever052206.pdf)!
Certainly this is a great study, for several reasons.
It is the first of its kind
It is derived from official data, not from anecdotal evidence
It is written by independent, non-partisan scholars, who are not immigrants!
It confirms the need for fixing the 'Legal side of Immigration' ASAP!
Among the findings of the study:
• Waits for green cards (permanent residence) in the Skilled Workers and Professionals category have worsened considerably in the past few years, with the current wait for a newly-sponsored high skill immigrant in this category exceeding five years.
One of the co-authors is Stuart Anderson, Executive Director of the National Foundation for American Policy. He is very experienced on Immigration matters, and has served in the INS (in Policy/Planning) and on Capitol Hill. Impeccable credentials - though I would not support anybody on the operations side of the INS! He might have even authored the language of some of the laws that govern us now, when he served on Sen Brownback's staff!
Stuart Anderson, Executive Director of the National Foundation for American Policy, served as Executive Associate Commissioner for Policy and Planning and Counselor to the Commissioner at the Immigration and Naturalization Service from August 2001 to January 2003. He spent four and a half years on Capitol Hill on the Senate Immigration Subcommittee, first for Senator Spencer Abraham and then as Staff Director of the subcommittee for Senator Sam Brownback. Prior to that, Stuart was Director of Trade and Immigration Studies at the Cato Institute in Washington, D.C., where he produced reports on the military contributions of immigrants and the role of immigrants in high technology. He has an M.A. from Georgetown University and a B.A. in Political Science from Drew University. Stuart has published articles in the Wall Street Journal, New York Times, Los Angeles Times, and other publications.
Amongst others on NFAP Advisory Board, the name of James Ziglar stands out. Many of us remember him as the former head of the INS - definitely somebody who is well-versed with Immigration matters.
But, this Board also includes Prof Jagdish Bhagwati, renowned economist - certainly a very learned & highly-skilled immigrant. (Interestingly, if Prof Bhagwati had to apply for his Green Card today - he would get it only in several years! Or, they would have to get an Act of Congress for him!). Also on the Board is Cesar Conda, who was an advisor to Vice-President Cheney on domestic policy.
The official release (http://www.nfap.com/researchactivities/studies/NFAPRelease052206.pdf) of the study took place at Washington D.C.
Senator John Cornyn, a Texas Republican who opposes the current guestworker plan in the bill being debated in the Senate, said he had offered an amendment to the bill that would eliminate the quota for some highly-skilled workers educated in the US. He said economic competitiveness was at stake in the way in which the issue was handled.
Aman Kapoor, founder of the group (Immigration Voice), says the broken employment-based immigration system forces workers like him to live in a state of limbo. People working in the US who are waiting for their green cards, as he has done since October 2003, cannot change jobs or move up in position, thus restricting their opportunities, he says.
It was also covered by MSNBC (http://msnbc.msn.com/id/12919954/).
Please look up the NFAP website NFAP (http://www.nfap.com)! It is amazingly accurate, and uptodate. It highlights mostly H-1B related issues, but is very knowledgeable about the business aspects of Immigration.
We already know our issues, but a study from non-partisan scholars adds immense weight to them! Even if this study goes beyond our issues, all of the issues will be important to us or our family at some point of our lives!
In summary, this study will be huge in advancing our cause!
Certainly this is a great study, for several reasons.
It is the first of its kind
It is derived from official data, not from anecdotal evidence
It is written by independent, non-partisan scholars, who are not immigrants!
It confirms the need for fixing the 'Legal side of Immigration' ASAP!
Among the findings of the study:
• Waits for green cards (permanent residence) in the Skilled Workers and Professionals category have worsened considerably in the past few years, with the current wait for a newly-sponsored high skill immigrant in this category exceeding five years.
One of the co-authors is Stuart Anderson, Executive Director of the National Foundation for American Policy. He is very experienced on Immigration matters, and has served in the INS (in Policy/Planning) and on Capitol Hill. Impeccable credentials - though I would not support anybody on the operations side of the INS! He might have even authored the language of some of the laws that govern us now, when he served on Sen Brownback's staff!
Stuart Anderson, Executive Director of the National Foundation for American Policy, served as Executive Associate Commissioner for Policy and Planning and Counselor to the Commissioner at the Immigration and Naturalization Service from August 2001 to January 2003. He spent four and a half years on Capitol Hill on the Senate Immigration Subcommittee, first for Senator Spencer Abraham and then as Staff Director of the subcommittee for Senator Sam Brownback. Prior to that, Stuart was Director of Trade and Immigration Studies at the Cato Institute in Washington, D.C., where he produced reports on the military contributions of immigrants and the role of immigrants in high technology. He has an M.A. from Georgetown University and a B.A. in Political Science from Drew University. Stuart has published articles in the Wall Street Journal, New York Times, Los Angeles Times, and other publications.
Amongst others on NFAP Advisory Board, the name of James Ziglar stands out. Many of us remember him as the former head of the INS - definitely somebody who is well-versed with Immigration matters.
But, this Board also includes Prof Jagdish Bhagwati, renowned economist - certainly a very learned & highly-skilled immigrant. (Interestingly, if Prof Bhagwati had to apply for his Green Card today - he would get it only in several years! Or, they would have to get an Act of Congress for him!). Also on the Board is Cesar Conda, who was an advisor to Vice-President Cheney on domestic policy.
The official release (http://www.nfap.com/researchactivities/studies/NFAPRelease052206.pdf) of the study took place at Washington D.C.
Senator John Cornyn, a Texas Republican who opposes the current guestworker plan in the bill being debated in the Senate, said he had offered an amendment to the bill that would eliminate the quota for some highly-skilled workers educated in the US. He said economic competitiveness was at stake in the way in which the issue was handled.
Aman Kapoor, founder of the group (Immigration Voice), says the broken employment-based immigration system forces workers like him to live in a state of limbo. People working in the US who are waiting for their green cards, as he has done since October 2003, cannot change jobs or move up in position, thus restricting their opportunities, he says.
It was also covered by MSNBC (http://msnbc.msn.com/id/12919954/).
Please look up the NFAP website NFAP (http://www.nfap.com)! It is amazingly accurate, and uptodate. It highlights mostly H-1B related issues, but is very knowledgeable about the business aspects of Immigration.
We already know our issues, but a study from non-partisan scholars adds immense weight to them! Even if this study goes beyond our issues, all of the issues will be important to us or our family at some point of our lives!
In summary, this study will be huge in advancing our cause!
hairstyles Sight Read Music Quiz for
qualified_trash
11-14 02:35 PM
Lawyer told me that I cannot contest. They screwed it up some thing
I am sorry to hear of your plight. As a public service message, could you post the lawyer's name here..........
Also if you have time on your H1 - 6 mos and more, you should start the process to file for a LC using PERM. You will not have your October 2003 PD. However, you can definitely continue to live and work here.............
I am sorry to hear of your plight. As a public service message, could you post the lawyer's name here..........
Also if you have time on your H1 - 6 mos and more, you should start the process to file for a LC using PERM. You will not have your October 2003 PD. However, you can definitely continue to live and work here.............
punjabi
08-13 11:12 AM
I personally think we should try to encourage new people to open new threads, and not discourage them. This way, they also get a feeling like they own ImmigrationVoice and they are the part of it.
Unless there is already an active thread, we should not mind if someone opens a new thread!
Unless there is already an active thread, we should not mind if someone opens a new thread!
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.
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