FIRST REPORT:
NEW DELHI: Indian citizens living or working abroad but not paying tax for their earnings there and here, will now have to pay tax in India for their full income, as per a provision in the Union Budget presented in Parliament on Saturday. NRI income was not taxable so far, there will be a change from now on for the coming fiscal — and this is subject to conditions and more clarifications.
Any Indian who stays out of the country for more than 240 days can be considered a non-resident, against the present provision of 180 days. Those who stayed for less than 240 days will be considered a resident of India.NUMBER OF INDIANS ABROAD (MAIN CONCENTRATIONS)
US ……….4.46 million; UAE …..3.1 million; Malaysia …2.99 million; Saudi Arabia …2.81 million; Myanmar ….2.1 million.
Over three lakh Indians went to the Gulf in search of job etc in 2018, as per latest figures. Kerala and Tamil Nadu once contributed the maximum of the workforce for the Gulf. Now, maximum outpourings are from Uttar Pradesh, Bihar and the two Telugu states.
REMITTANCES … India was at the top in terms of remittances from abroad, followed by China. India earned as high as 79 billion dollars by way of remittances in 2018. China earned a little less, at over $67 billion. The next was Mexico with $36 billion, Philippines $34 billion and Egypt with $29 billion. –WORLD BANK REPORT
OF THIS … $13,800 million came to India from the UAE, $11,700 million came from the US, $11,200 million came from Saudi Arabia, $4,400 million from Kuwait, $4,100 million from Qatar; $3,900 from UK, $3,200million from Oman, $3,000million from Nepal, $2,800 from Canada; $1,900 from Australia. –WORLD BANK REPORT
KERALA ON TOP … Among Indian states, Kerala got the maximum of remittances — 19 per cent of the total; Maharashtra came second with 16 per cent; Karnataka with 15 per cent; Tamil Nadu with 8 per cent; Delhi 6 per cent; Andhra Pradesh 4 per cent; UP 3 per cent; Bengal and Gujarat 2.5 per cent, and the others much less. IHN-NN
