what are the taxation laws pertaining to NRI's returning back to India.?
828820
NRIs after returning to India become residents of India and are liable to same tax rates as Indian residents are subject to under Income Tax Laws for their income earned in India.Refer to www.allindiantaxes.com for details
1007062
Adding to raj_batra81\n\nU need to have following docs to accquire a PAN:\n\na. Recent Colour PP photo\nb. Proof of identity - Ration Card/Passport/School Leaving Certificate etc.\nc. Proof of address - Ration Card again/Passport/Bank Statement etc.\n\nGovt. charges of NSDL/UTI are Rs. 67/-\n[plus]\nCA/Tax consultant fee, if any.\n\nPlease go to https://tin.tin.nsdl.com/pan/Instructions49A.html for detailed instructions on PAN.\n\nCA. Deepak Bholusaria
242070
No, but any future earning can be levied, even his income tax refund. If the matter drags on you can also levy any property they own.
840743
Visit this site:\nhttp://incometaxdelhi.nic.in/taxsys/trreg.htm
412292
Wow!  Look at all these answers!  The truth is that you HAVE to check what the law is where you live... It does not matter what the law in India is and 3months may or may not make a hill of beans where you are.  In Indiana for example, where I am located, you would have to give them a one month notice.  Twenty miles East of here, in Ohio, the law is very different.  Be very careful about the advice you get here.
312512
If you are from India,\n\ncheck the web site of the Income Tax Department at\n\nwww.incometaxindia.gov.in  which tells you about the LAW.\n\nIf you want any further clarifications, mail me and I can help you in this regard as I am a Chartered Accountant.
1060830
Depends on how often you are planning on being back in the UK. You are allowed so many days a year. See the Inland Revenue website for details.
649295
Purchase of Immovable Property in India by Foreign Citizens of Non-Indian origin/Foreign Companies\n\nForeign citizens of Non-Indian origin (whether resident in India or not) and foreign companies including trusts, societies and associations incorporated/ registered abroad will be permitted by Reserve Bank, on application, to acquire immovable property in India, provided the following conditions are satisfied.\n\nThe property to be purchased is for residential use only.\n\nThe consideration for purchase of the property is met out of foreign exchange remitted from abroad in any convertible currency through normal banking channels \n\nIncome accruing by way of rent from the property purchased, or the sale proceeds of such property/income arising out of investment of such sale proceeds at any future date shall be credited only to the Ordinary Non-resident Rupee (NRO) account of the non-resident purchaser.\n\nApplications for necessary permission for purchase of immovable property in India should be made in form IPI 1 together with the documents indicated therein to the Chief General Manager, Exchange Control Department, (Foreign Investment Division-III), Reserve Bank of India, Central Office, Mumbai 400 001.
1165472
Taxation is based on the residential status of the person under the Indian Tax law. You have to determine whether you are an ordinary resident, not ordinary resident or non-resident. This has to be done with reference to the procedure given in the Act.\n\nAfter which depending on your residential status, your tax liability will be computed.
491281
Consult a lawyer or the reference section of a library.\n\nDo your own search on the net for starters to find out the laws of the country where you are - we can't answer this as there is no info as to where you are!\n\nCheers
398568
There are two changes \n1. Section 54 ED has been scrapped which provided that in case that the capital gains arising from transfer of long term capital asset, being listed securities or units of a mutual fund or of the Unit Trust of India shall be exempt from tax if invested in equity shares forming part of an eligible issue of capital, made by a public company, and offered for subscription to the public.\n2.Bonds issued by National Roadways or National Highways shall also be eligible for claiming exemption under Section 54 Ec of the I T Act
725974
the rate of tax depends upon the level of income\nit is the same all over india doesnt differ from state to state\n\n\nTaxable Annual Income Slab (In Rs.)  Tax Rate (In %)\n0 - 1,00,000                                                Nil\n1,00,001 - 1,50,000                                  10%\n1,50,001 - 2,50,000                                   20%\nMore than 2,50,001                                  30%\n\n\n\nFor Senior Citizen\nFor Year 2005-2006\nTaxable Annual Income Slab (In Rs.) Tax Rate (In %)\n0 - 1,85,000                                                  Nil\n1,85,001 - 2,50,000                                      20%\nMore than 2,50,001                                     30%\n\n\n    *  Surcharge @ 10% applicable if total income exceeds Rs. 8.5 lakh for A.Y. 2005-06 and Rs. 10 lakh for A.Y. 2006-07.\n    * There is a new section 80C according to which a person can get rebate upto Rs. 1,00,000 against insurance premium, PF contributions and other such schemes.\n    * In case of higher education there is a deduction in tax for a maximum period of 8 years.\n    * Marginal relief would be provided to ensure that the additional income tax payable including surcharge, on the excess of income over Rs. 10,00,000 (Rs. 8.5 lakh for A.Y. 2005-06) is limited to the amount by which the income is more than Rs. 10 lakh (Rs. 8.5 lakh for A.Y. 2005-06).\n    * Education cess @ 2% on tax plus surcharge.
1184514
To qualify for this exemption you must have lived the property as your personal residence for at least 24 month (2 yrs) of the last 5 yrs before the sale date.  You will be entitle to either $250K or $500.K depending on your marital status. I believe even individual owners, even if not married, assuming they meet the above  qualifications are entitle to the exemption---in fact I am pretty sure (Consult your tax attorney nevertheless).\n\nNote: 1031 exchange applies only to investment property, i.e., rentals, and not to personal real estate property.  Always consult your tax man!!!!!!!!!!! Best of luck! \n\nWhere one lives is of no consequence when it comes to federal income tax law unless an Indian reservation...where some federal tax laws may vary.
1000764
TAX CONVENTION WITH THE REPUBLIC OF INDIA\n\nSIGNED: SEPTEMBER 1989\nEFFECTIVE DATE UNDER ARTICLE 30: 1 JANUARY 1991\n\n--\nAny tax advice included in this written communication was not intended or written to be used, and it cannot be used by the taxpayer, for the purpose of avoiding any penalties that may be imposed by any governmental taxing authority or agency.
427327
This is the law:\n\n"Employees returning from military service must be reemployed in the job that they would have attained had they not been absent for military service (the long-standing 'escalator' principle) and with the same seniority, status and pay, as well as other rights and benefits determined by seniority. Reasonable efforts must be made to enable returning employees to refresh or upgrade their skills to enable them to qualify for reemployment. If refresher training is not successful, USERRA provides that the employee must be reinstated in a position that most nearly approximates that position originally held. Employees who are disabled (temporarily or permanently) due to military service must also be accommodated in a position most nearly approximating the original position."\n\nIf you do not get your job back - you can sue them and you _will_ win.
558512
Yes and no!\nThere are lots of details which are required for proper answer.You have not given all details-like what is your age, whether the income you are showing is gross salary or net salary or income other than salary, whether you have made any saving which may allow you deduction u/s 80C etc.\n\nYes, if you are below 65 years , have no investment to qualify deduction u/s 80 C .\nNo tax is payable upto Rs 1,85,000 if you are above 65 years.\n \nKeep in mind that Woman are not supposed to pay any tax upto total income of Rs 1,35,000.
320523
Are you from the UK? Is the place that you intend to work in tax free?\n\nIf yes then:-  as long as you are not in the UK for more than 186 days of the current tax year you will be entitled for tax free status on your income for the balance of the year, it is important that you do not return to the UK for more than 90 days a year (on average over 5 years) you will have to be careful when you return to the UK if you have been away for less than 3 years. \n\nYou will need to complete the Inland revenues tax form. for more info check out their web site..\n\nDon't forget to keep on paying the NI stamp, very cheap and keeps you entitled to the pension.