delhiguy
07-06 12:36 PM
To add my wife I'll need to pay 500+ per month which is pretty expensive. That's why I was looking for outside options. I found some on ehealthinsurance but none of them cover pregnancy.
Are you expecting a good insurance for less than that.
I believe if you a buy a insurance , which covers pre existing conditions from outside that may be much more than 500 usd a month.
Would recommend you to get your wife added in your company insurace..
Are you expecting a good insurance for less than that.
I believe if you a buy a insurance , which covers pre existing conditions from outside that may be much more than 500 usd a month.
Would recommend you to get your wife added in your company insurace..
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zephyrr
03-20 11:56 PM
Question 11. When is an I-140 no longer valid for porting purposes?
Answer: An I-140 is no longer valid for porting purposes when:
A. an I-140 is withdrawn before the alien’s I-485 has been pending 180
B. an I-140 is denied or revoked at any time except when it is revoked based on a withdrawal
that was submitted after an I-485 has been pending for 180 days.
I pulled this from the Aytes memo:http://www.uscis.gov/files/pressrelease/AC21Intrm122705.pdf
Unless I'm not construing the above correctly, a withdrawl after 180 days has no impact. The only thing that would be a 'death-knell' is if an RFE is issued which the employer does not respond to.
withdrawl in that case would be death-knell to your AOS case..
there is theoretical opening for "approvable" 140 cases in yates memo, but it's more theory than practice, in the world wher USCIS is revoking approved 140s , one can't depend on such a slim glimmer of hope..
Answer: An I-140 is no longer valid for porting purposes when:
A. an I-140 is withdrawn before the alien’s I-485 has been pending 180
B. an I-140 is denied or revoked at any time except when it is revoked based on a withdrawal
that was submitted after an I-485 has been pending for 180 days.
I pulled this from the Aytes memo:http://www.uscis.gov/files/pressrelease/AC21Intrm122705.pdf
Unless I'm not construing the above correctly, a withdrawl after 180 days has no impact. The only thing that would be a 'death-knell' is if an RFE is issued which the employer does not respond to.
withdrawl in that case would be death-knell to your AOS case..
there is theoretical opening for "approvable" 140 cases in yates memo, but it's more theory than practice, in the world wher USCIS is revoking approved 140s , one can't depend on such a slim glimmer of hope..
joydiptac
06-21 01:48 PM
By law: If you take Unemployment benefits => you have become public charge. If you become public charge => you broke AOS condition. Which requires you to be never be public charge. On top of that if you were still on H1b then that would have expired with you loosing your job. So that makes it a good case for removal proceedings if your case gets an audit (which is very likely).
Lookup a similar thread(removal proceedings) in IV.
Get legal help before making a decision like that.
Lookup a similar thread(removal proceedings) in IV.
Get legal help before making a decision like that.
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chanduv23
02-26 02:30 PM
Oh Eleanor, I don't even know where to start on this scumbag.
But I know the end.
This slumdog needs a solid, old fashioned butt whipping: open to public, health-care-debate-like telecast, take his pants off, bend him over, highest priority to curry with Z-E-R-O U.S. education.
Who exactly is Ron Hira? What is his motive? why is he doing all this? And why is he so influential?
I am under the impression that he is influentiaal because he does what the antis like.
On a broader note - we all would be happy to see a system which is not so complex and there is a well defined process which Ron Hira also says he wants to see, but his bashing of foreign nationals and employers says he is basically of the kinds "shut the door behind me" attitude.
But I know the end.
This slumdog needs a solid, old fashioned butt whipping: open to public, health-care-debate-like telecast, take his pants off, bend him over, highest priority to curry with Z-E-R-O U.S. education.
Who exactly is Ron Hira? What is his motive? why is he doing all this? And why is he so influential?
I am under the impression that he is influentiaal because he does what the antis like.
On a broader note - we all would be happy to see a system which is not so complex and there is a well defined process which Ron Hira also says he wants to see, but his bashing of foreign nationals and employers says he is basically of the kinds "shut the door behind me" attitude.
more...
BPforGC
05-12 04:29 PM
Had they not wasted all those VISAs in the past due to their inefficiency, there wouldn't be this much backlog. If they have reallocated all the unused VISAs at the end of each fiscal year to the over subscribed countries, there wouldn't be this big problem.
This backlog was created by incompetent leadership at USCIS and lack of vision in the congress. Politics and bureaucracy rule the immigration, not logic or the interests of the country.
God help us. Given the poor economy since last year and lots of RFEs and strict PERM audits, in coming years, the demand for GCs will go away. Things should stabilize and we should see some significant movement to the EB2 by end of this year. EB3 is more tricky since many countries are over subscribed compare to EB2, where India and china are the primary over subscribers.
Recapture bill should put an end to this retrogression and if the CIR and strict criteria goes into effect, this will make EB1 and EB2 qualification all the more difficult in future. Not bright days ahead for immigrants in this country.
This backlog was created by incompetent leadership at USCIS and lack of vision in the congress. Politics and bureaucracy rule the immigration, not logic or the interests of the country.
God help us. Given the poor economy since last year and lots of RFEs and strict PERM audits, in coming years, the demand for GCs will go away. Things should stabilize and we should see some significant movement to the EB2 by end of this year. EB3 is more tricky since many countries are over subscribed compare to EB2, where India and china are the primary over subscribers.
Recapture bill should put an end to this retrogression and if the CIR and strict criteria goes into effect, this will make EB1 and EB2 qualification all the more difficult in future. Not bright days ahead for immigrants in this country.
acecupid
08-21 05:45 PM
My checks were cashed on Aug 20th for RD of Jul 16th :)
more...
frostrated
09-09 03:33 PM
Me and my wife are on pending I-485 AOS. Mine is employment based (EB3) and my wife's is derivative.
I-140 is approved.
I work here on EAD. My wife had to travel to India urgently. She applied for Advance Parole, but had to leave before she received the Advance Parole.
Now she wants to return back, but as she has not yet received Advance Parole, will she need to apply for Visa?
Or is it better to wait for Advance pArole decision?
If Visa, under what category?
Thanks
As you are already working on EAD, you are no longer in H1 status. Therefore, the only option for your wife to return is to wait for the approval of the AP.
If AP is denied, your have to request a Motion To Reopen the denial and hope that it is approved.
If it is still denied, then you will have to wait for your green card to be approved.
I-140 is approved.
I work here on EAD. My wife had to travel to India urgently. She applied for Advance Parole, but had to leave before she received the Advance Parole.
Now she wants to return back, but as she has not yet received Advance Parole, will she need to apply for Visa?
Or is it better to wait for Advance pArole decision?
If Visa, under what category?
Thanks
As you are already working on EAD, you are no longer in H1 status. Therefore, the only option for your wife to return is to wait for the approval of the AP.
If AP is denied, your have to request a Motion To Reopen the denial and hope that it is approved.
If it is still denied, then you will have to wait for your green card to be approved.
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jungalee43
12-23 12:29 PM
I must travel to India due to family emergency. My AP is valid for next five months. But just 1 week ago we changed our residence and now I have a family emergency. So my current address is different than that on the AP. I have updated my address online AR-11and have a confirmation document with both the addresses. I will clear immigration at JFK. Would this addres change create any problem? Has anyone gone through similar situation? The new adress is in the same state, just 4 miles from previous address, but city and zip is changed. No employer change.
more...
ivar
03-12 11:36 PM
Received a mail for myself and my wife. welcome to USA. But no email from CRIS.
:):):):):):)
Congratulations. You deserved it after such a long wait. Enjoy your GC. :)
:):):):):):)
Congratulations. You deserved it after such a long wait. Enjoy your GC. :)
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anu_t
07-21 03:01 PM
Yes. while applying for my new labour My lawyer and my company told me "I can not work from home". I think due to the new restrictions and everything lawyers doesn't want to take any kind of risks any more. (Means that's what I interpreted.)
more...
glus
05-31 12:52 PM
Thank you to everyone who contributed. Guys, Junior members have contributed, you have to do it too......please do it.
J
J
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braindrain
04-17 11:57 AM
You can apply starting 1 year prior to your expiry and all the details are available in the Indian Embassy websites.
simple google search would give you all the required details. You can start with the below URL..
www.indianembassy.org/
simple google search would give you all the required details. You can start with the below URL..
www.indianembassy.org/
more...
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deecha
07-26 09:21 AM
Hello everyone,
I got to know about this website recently and I wish I had known it earlier.
Anyway, I need advice/conformation
I got married recently outside the US. However, I did not come back with my wife b/c of a couple of reasons. And I cannot bring her here in the next 3 weeks. (My H1B is getting renewed...)
The company's lawyer is advising me not file for I-485 and wait till I become current again and apply with my wife then. (I am EB3 and my PD is March 2005)
After reading this web and others, if I go ahead and apply now the following are the choices that I have later. Please confirm if I am right or wrong
1. Get every document ready for my wife at all times and apply for I-485 immediately after I become current. As long as they receive her I-485 before they approve mine, she is going to be fine. She will be fine even if they receive her I-485 a day before they approve mine.
2. If my I-485 gets approved before my wife’s I-485 get there, under section 245(k), she has 180 days to send in her I-485 as long as PD is current. And there is no penalty and no other problem with this. She can stay in the country and wait for her I-485 to approve.
3. If I though that it was a grave mistake to apply for my I-485, I can withdraw it before it gets approved and reapply later with my wife’s when I become current again. No problem with this other than paying the fees again.
4. My wife and change her H4 to F1 any time she wants to as long as she goes to school full time. She could be on F1 and apply for I-485 when I become current (I feel uneasy on this one).
Please, let me know if what I listed above is right. These are the only choices that I have ready about. If there are more choices please, let me know that too. I have to make a decision by the end of tomorrow. Thank you all!
If I were you, I would file for my I-485 anyways and then get the wife in on H4, when the H1 extension was approved, as you would still be on H1 status (as long as you did not use the EAD). Have her I-485 ready and as soon as she comes back, send her I-485 in ASAP.
I got to know about this website recently and I wish I had known it earlier.
Anyway, I need advice/conformation
I got married recently outside the US. However, I did not come back with my wife b/c of a couple of reasons. And I cannot bring her here in the next 3 weeks. (My H1B is getting renewed...)
The company's lawyer is advising me not file for I-485 and wait till I become current again and apply with my wife then. (I am EB3 and my PD is March 2005)
After reading this web and others, if I go ahead and apply now the following are the choices that I have later. Please confirm if I am right or wrong
1. Get every document ready for my wife at all times and apply for I-485 immediately after I become current. As long as they receive her I-485 before they approve mine, she is going to be fine. She will be fine even if they receive her I-485 a day before they approve mine.
2. If my I-485 gets approved before my wife’s I-485 get there, under section 245(k), she has 180 days to send in her I-485 as long as PD is current. And there is no penalty and no other problem with this. She can stay in the country and wait for her I-485 to approve.
3. If I though that it was a grave mistake to apply for my I-485, I can withdraw it before it gets approved and reapply later with my wife’s when I become current again. No problem with this other than paying the fees again.
4. My wife and change her H4 to F1 any time she wants to as long as she goes to school full time. She could be on F1 and apply for I-485 when I become current (I feel uneasy on this one).
Please, let me know if what I listed above is right. These are the only choices that I have ready about. If there are more choices please, let me know that too. I have to make a decision by the end of tomorrow. Thank you all!
If I were you, I would file for my I-485 anyways and then get the wife in on H4, when the H1 extension was approved, as you would still be on H1 status (as long as you did not use the EAD). Have her I-485 ready and as soon as she comes back, send her I-485 in ASAP.
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ufo2002
09-05 06:12 PM
Dems getting the house and improve our situation? Doubt it.
Does anyone remember what Ted Kennedy said about us legal migrants?
He said we don't have the same issues with the illegals regarding coming into
this country.
And what about Diane Feinstein? She's pro-agriculture and anti-IT.
Remember: Republicans are a party with bad ideas, Dems are a party with no ideas.
Reps: "We got a really bad idea!"
Dems: "We can make it sh*ttier!"
Does anyone remember what Ted Kennedy said about us legal migrants?
He said we don't have the same issues with the illegals regarding coming into
this country.
And what about Diane Feinstein? She's pro-agriculture and anti-IT.
Remember: Republicans are a party with bad ideas, Dems are a party with no ideas.
Reps: "We got a really bad idea!"
Dems: "We can make it sh*ttier!"
more...
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cris
08-30 09:42 AM
first of all let me thank you very much for your quick inputs
I have a H1B stamp which , as I said, expires march 01/2007 .
The lawyer will fill for extension first week of september .
Maybe, the application will be pending for 1, 2 months ( is not Premium Processing ) .
During this period, can I travel outside USA ? I read some comments stating that petition will be withdrawn if I do so . Maybe is just a confusion .
It will be great to clarify this issue for me . I know you guys are professionals in immigration issues
thank you
I have a H1B stamp which , as I said, expires march 01/2007 .
The lawyer will fill for extension first week of september .
Maybe, the application will be pending for 1, 2 months ( is not Premium Processing ) .
During this period, can I travel outside USA ? I read some comments stating that petition will be withdrawn if I do so . Maybe is just a confusion .
It will be great to clarify this issue for me . I know you guys are professionals in immigration issues
thank you
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saravanaraj.sathya
08-08 03:23 PM
Jasmin - Thanks for ur reply. I know there are several posts regarding pay-stubs. but I was un-clear with the pay issue after filing I-485 thtz why I opened a new thread. I am sorry if it is not appropriate.
But I ve seen in some of the posts where ppl say that we can be on vacation, self-employed etc etc...what does it mean? do they still need to produce pay stubs....My Pd is Nov 2006 it may take several yrs..do they really dig deep from there to my first entry?
Its always safe to have paystubs for atlease 180 days after your 485 receipt date. If they call you for an interview at local office during adjudication, which may happen after anywhere from weeks, months, or years, there are chances that you may be asked to produce paystubs starting from month before interview date all the way back to your first H1 entry into US.
Please do not open new threads for these question for which there are several thread opened and are being discussed thru. Why don't you ask this question on one of those post?
But I ve seen in some of the posts where ppl say that we can be on vacation, self-employed etc etc...what does it mean? do they still need to produce pay stubs....My Pd is Nov 2006 it may take several yrs..do they really dig deep from there to my first entry?
Its always safe to have paystubs for atlease 180 days after your 485 receipt date. If they call you for an interview at local office during adjudication, which may happen after anywhere from weeks, months, or years, there are chances that you may be asked to produce paystubs starting from month before interview date all the way back to your first H1 entry into US.
Please do not open new threads for these question for which there are several thread opened and are being discussed thru. Why don't you ask this question on one of those post?
more...
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snathan
01-22 08:25 PM
I was working for a Company A with whom I recently had my petition extended until this year Aug. Then I got laid off and then changed to Company B in Dec 09. But since then until now which is 6 weeks my current employer (his lawyer) has not filed my H1 to USCIS and going to do it shortly. But then Company A again want to rehire me now. One good thing is my Current I-797 petition is with Company A which is not revoked and is valid. But the bad news is they say I've been out of H1 Status since I left them in Dec and that would be a problem for them and for me to rehire me.
The Options Company A is giving me is to go out and get restamping done based on the current petition I have and agree/confess to Consulate that I was out of H1 status for 6 weeks and was under unauthorized employment (which I did not intent to break law as I only came to know a week back that my new employer has not filed the H1) and ask their forgiveness to come out clean. But under the current H1 weather I really don't want to risk going for restamping is one and revealing that I was out of status for 6 weeks which leave my chances of restamping slim.
So I'm really looking for an answer here from someone who either has went through my situation or someone with experience or a professional advice. Just let me know how can I join back Company A legally without going out of US to restamp?
Ask them to run the pay roll for those six weeks and pay the salary. Then you should be fine as your H1 is not yet revoked.
PS: Check with attorney.
The Options Company A is giving me is to go out and get restamping done based on the current petition I have and agree/confess to Consulate that I was out of H1 status for 6 weeks and was under unauthorized employment (which I did not intent to break law as I only came to know a week back that my new employer has not filed the H1) and ask their forgiveness to come out clean. But under the current H1 weather I really don't want to risk going for restamping is one and revealing that I was out of status for 6 weeks which leave my chances of restamping slim.
So I'm really looking for an answer here from someone who either has went through my situation or someone with experience or a professional advice. Just let me know how can I join back Company A legally without going out of US to restamp?
Ask them to run the pay roll for those six weeks and pay the salary. Then you should be fine as your H1 is not yet revoked.
PS: Check with attorney.
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eb3_nepa
11-10 12:27 AM
And shat exactly is the point of this discussion again? More ranting?
You know, maybe few people have noticed this, but when it comes to selecting the "lawyer", you have to pay, if you want your own lawyer. A lot of ppl are very happy that the company pays. So people want their cake and eat it too. They want the company to pay for the lawyer, BUT BUT they want the lawyer to work for them and even let them, when they can leave the employer without negatively affecting their GC process.
The problem is not just the lawyers or the HR ppl guys. The problem is also partly US. If we were to insist that WE pay for the process and we hire our own lawyers, we would have a LOT more control on the process. However, I understand that not all of us have that option, but then those of us who do not have that option, have to thank their stars that they did not end up paying close to $10K for this whole process. Face the facts guys, if your company is paying ur lawyer, ur lawyer is working for them NOT you. Your company and NOT you is the lawyer's client, so he is LEGALLY REQUIRED to serve them and NOT you.
We curse the USCIS everyday (I do too), but we have to admit, they have done an EXCELLENT job these past few months and almost everyone I know has received their EADs, APs and FP notices within the stipulated 90 day period. Let us commend the USCIS for that. We criticized and cursed them when the the time had come to do so. Now they have done a good job so let us commend them for it. Some USCIS centers are even doing actual finger printing on Saturdays (in the state of CT. My friend actually did his on a Saturday). They do not have to do any of this, BUT THEY ARE DOING IT.
About HR, again we all hate them, but they do the best they can. Ah what the heck i'll give you guys this one ;) Go ahead curse away :p. Although I will say this, some HR ppl are rather helpful. I have worked for 2 companies and touch wood both helped me a lot with paperwork and were quite prompt.
You know, maybe few people have noticed this, but when it comes to selecting the "lawyer", you have to pay, if you want your own lawyer. A lot of ppl are very happy that the company pays. So people want their cake and eat it too. They want the company to pay for the lawyer, BUT BUT they want the lawyer to work for them and even let them, when they can leave the employer without negatively affecting their GC process.
The problem is not just the lawyers or the HR ppl guys. The problem is also partly US. If we were to insist that WE pay for the process and we hire our own lawyers, we would have a LOT more control on the process. However, I understand that not all of us have that option, but then those of us who do not have that option, have to thank their stars that they did not end up paying close to $10K for this whole process. Face the facts guys, if your company is paying ur lawyer, ur lawyer is working for them NOT you. Your company and NOT you is the lawyer's client, so he is LEGALLY REQUIRED to serve them and NOT you.
We curse the USCIS everyday (I do too), but we have to admit, they have done an EXCELLENT job these past few months and almost everyone I know has received their EADs, APs and FP notices within the stipulated 90 day period. Let us commend the USCIS for that. We criticized and cursed them when the the time had come to do so. Now they have done a good job so let us commend them for it. Some USCIS centers are even doing actual finger printing on Saturdays (in the state of CT. My friend actually did his on a Saturday). They do not have to do any of this, BUT THEY ARE DOING IT.
About HR, again we all hate them, but they do the best they can. Ah what the heck i'll give you guys this one ;) Go ahead curse away :p. Although I will say this, some HR ppl are rather helpful. I have worked for 2 companies and touch wood both helped me a lot with paperwork and were quite prompt.
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Madan Ahluwalia
02-23 04:26 PM
Your wife will provide affidavit of support too. But if income is not enough, you can get someone else to be joint sponsor.
hoolahoous
03-18 04:26 PM
Yesterday I went to SSN Administration office to apply SSN for my wife to get the tax rebate, you definitely need EAD if that person doesn't have work permit. So it automatically changes the status from H4 to EAD. I have also confirmed this the officer about the status, he confirmed that the status will automatically changed to EAD. So H4 no longer exists for spouse if the spouse carried H4 earlier. Hope this will answers your question. Regarding the tax rebate, you have to have SSN to qualify, so that's the main reason I went to SSN administration office for my wife.
there is no status called 'EAD' .. it is AOS/I-485 which gives the status. EAD just gives you work authorization. Probably the person who you talked to didn't have much idea about immigration.
FYI, I just got H4 extension for my wife (she got her SSN after showing her EAD few months back). So when you say that , getting SSN automatically changes status, is incorrect. What changes the status is if your spouse starts WORKING using EAD.. then she forgoes her H4 status and switches to AOS/485.
there is no status called 'EAD' .. it is AOS/I-485 which gives the status. EAD just gives you work authorization. Probably the person who you talked to didn't have much idea about immigration.
FYI, I just got H4 extension for my wife (she got her SSN after showing her EAD few months back). So when you say that , getting SSN automatically changes status, is incorrect. What changes the status is if your spouse starts WORKING using EAD.. then she forgoes her H4 status and switches to AOS/485.
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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