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Taxation Of Income Of Non Resident Indian Under Direct Tax Law (As Amended by finance Act, 2021)

Taxation Of Income Of Non Resident Indian Under Direct Tax Law (As Amended by finance Act, 2017)

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Description
In a liberalized economy, more and more citizens of the country are going to work and earn income in foreign countries. Since they spent more than 182 days in foreign countries, they have become Non-Resident in India. Often these taxpayers are not adequately equipped to understand the taxability of their Indian income. This book has been written for the guidance of these growing Non-Resident Indian (NRI) taxpayers whose income is taxable in India. This book deals with the various aspects of taxation of Non-Resident Indians (NRIs). The law of taxation of Non-Resident Indians (NRIs) is highly complex and has always been the subject-matter of frequent  amendments. An attempt has been made to produce most of the important aspects relating to taxation of Non-Resident Indian (NRI). I would like to place on record a special note of gratitude to Sh. Ashok Kumar Manchanda, IRS (1976 Batch), who has been the guiding force for this venture and a constant source of inspiration in my life.I also express my thanks to Commercial Law Publishers (India) Pvt. Ltd. who reposed confidence in me and readily agreed to be publishers of this book. They have done a good job in making this volume attractive, acceptable and useful. It is hoped that this second edition of this book will be found very useful by Non-Resident Indian (NRI) taxpayers in discharging their tax obligations. The views and opinions expressed in this book are the personal opinion of the authors and not that of Government of India and are not binding on any person. It is advised that a reference be made to the tax authorities /relevant laws/rules etc. before taking a decision arrived at by any Non-Resident Indian (NRI) basing his judgment on the book. We would welcome any suggestion to further improve this book.
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Contents
Chapter 1. Introduction
Chapter 2. Residential Status 
Chapter 3. Non Resident Status under FEMA 
Chapter 4. Incidence Of Tax in respect of Non-Resident
Chapter 5. Tax Exemption For Non-Resident Indians (NRIs)
Chapter 6. Taxable Income Of Non-Resident Indians (NRIs)
Chapter 7. Taxability of Income from Salary of a Non-Resident 
Chapter 8. Taxability of Income from House Property of a Non-Resident 
Chapter 9. Taxability of Income from Business or Profession of a Non-Resident 
Chapter 10. Taxability of Income from Capital gains of a Non-Resident 
Chapter 11. Tax on Income from Units purchased in Foreign Currency or Capital gains arising from their Transfer
Chapter 12. Tax on Income from Bonds or Global Depository Receipts purchased in Foreign Currency or Capital gains arising                                            from their Transfer
Chapter 13. Tax on Income from Global Depository Receipts purchased in Foreign Currency or Capital gains arising from their Transfer
Chapter 14. Tax on Income of specified fund or Investment division of an Offshore Banking unit or Foreign Institutional Investor from                            Securities or Capital gains arising from their Transfer
Chapter 15. Tax on Income Of Non-Resident Sportsmen / Sports Associations or Entertainer 
Chapter 16. Tax on Investment Income and Long - Term Capital Gains
Chapter 17. Long - Term Capital Gain on Transfer of Foreign Exchange Assets by a Non-Resident Indian (NRI) not to be changed in                                    certain cases
Chapter 18. Taxability of Income from Other Sources of a Non-Resident 
Chapter 19.  Income by way of Royalty
Chapter 20.  Income by way of Fees for Technical Services
Chapter 21.  Deductions Available For Non-Resident Indians (NRIs)
Chapter 22.  Double Taxation Avoidance agreements (DTAA)
Chapter 23. Foreign Tax Credit (FTC) on Taxes paid
Chapter 24. Tax Deductions At Source For Non-Resident Indians
Chapter 25. Non-Resident Indians (NRIs) Investment in India
Chapter 26. Barred Investments
Chapter 27. Non-Resident Indian's Bank accounts In India
Chapter 28. Remittance Of Funds
Chapter 29. Spending Forex Limits Before Going Abroad
Chapter 30. NRI Buying Property in India - Income Tax Implications
Chapter 31. Buying a Property Abroad -Income Tax Implications
Chapter 32. Non-Resident Indians (NRIs) - GIFT
Chapter 33. Filing Of Income Tax Return By Non-Resident Indian
Chapter 34. Turning into a Non-Resident Indian (NRI)-Check Points
Chapter 35. A Non-Resident When Becomes Resident Of India
Chapter 36. Agent In Relation to a Non-Resident
Chapter 37. Income Tax Clearance Certificate
Chapter 38. Persons leaving India
Chapter 39. Liberalised Remittance Scheme (LRS) for Resident Individuals
Chapter 40. Non-Resident Indians (NRIs)-Permanent Account Number (PAN) & Aadhaar Card
Chapter 41. Overseas Citizen of India (OCI) Card 
Chapter 42. Tax Rates From assessment Years 2020-21 onwards
Chapter 43. Authority for advance Rulings
Chapter 44. Frequently Asked Questions
Chapter 45. Important Forms
Chapter 46. Population of Non-Resident Indians (NRIs):Country Wise


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Author Details
Ram Dutt Sharma
got his post-graduation (M.Sc.) from M.D. University, Rohtak in 1980. He joined the Income-tax Department in the year 1983 and presently working as Income Tax Officer in Faridabad. He worked at various stations of North-West Region of Income Tax Department. He has wide experience of all wings of Income Tax Department such as assessment unit, Special Range, TDS Wing, Investigation Wing, Intelligence and Criminal Investigation etc. He has been contributing articles and addressing on topics relating to Income Tax at Direct Tax, Regional Training Institute, Chandigarh. He has also addressed number of seminars organized by the Income-tax Department, Chartered Accountants, Advocates and various Trade Associations. He is the author of number of books on direct taxes, namely Computation of income from salary under income tax law with tax planning, Computation of income from house property, Formation and Management of Charitable and Religious Trust, Educational and Medical Institutions under income-tax law, Taxation of Non-Resident Indians under income-tax law etc. which have been highly appreciated by the readers.
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