Service tax on money send by NRIs
NEW DELHI: The UPA government has decided to charge 12.36 per cent service tax from July 1 onwards on the fees paid by NRIs sending money to their country.
This service tax will be deducted from the remittances sent by employees, including many poor labourers, from the Gulf, the US and other places. This approach is the antithesis of the Government’s policy of encouraging exporters, who bring foreign exchange to India.
Non-resident Indians transfer more than $65 billion annually to dependents in India. These remittances account for more than 3 per cent of India’s GDP and have been instrumental in reducing the current account deficit by shoring up the country’s foreign exchange reserves.
States such as Kerala, Tamil Nadu and Punjab are among the regions worldwide that depend heavily on international remittance. The share of NRI remittance in the State’s net domestic product is 31 per cent in Kerala, 13 per cent in Punjab and 7 per cent in Tamil Nadu.
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19 comments:
Fucking assholes... they want loot more money .. and even they dont leave NRI who dont work in their fucking country.
Tax on the fees only
wats that tax on fees????????
People in USA and UK already pay taxes in their residing country and why is that an additional tax? Almost 30 % is reduced from the residing country and now 12.36 more by india government? This is ridiculous.
The news is not clear, what tax? from fee?
Example
1000 dhs sending from uae to India
15 dhs for uae(Money exchange)exchange fee
12.36% of 15dhs =around 2dhs
total charge =1000+17 = 1017dhs
before total 1015dhs now 1017dhs
Ya , First it confused me also , Currently its 10.3% and will be increased to 12.36% .Its not on the money we send , its applied on the services charge we pay for the money transfer vendors.
Although we are paying 30 - 33 % tax in our residing countries. If India gov imply and 12.36% tax on the money we send to India no one will send a single penny or cent; do you know each year we (NRI's) send $65 billion to India , Imagine what will happens if it stops suddenly. Any gov will not do that, but the F@@king UPA gov may do that. Then we will say F@@K India.
this cock suckers has got nothing to but to screw NRI. because NRI dont have any political pull, plus most of their family is in india . so these assole govt knows that whatever tax they put NRIs are forced to send money. really time has come to take up arms against the currupt govt.
Fucking assholes
if it is charged fully on salary then there will no exemption for money transfer to india????? full 10000 will be charged???
THIS FUCKING POLITITIONS WILL DO SAME JOB.BECAUSE THEY NEED CRORES OF PUBLIC MONEY TO ENJOY.WE HAVE TO SHOOT POLITITIONS AND SWAMIJIS IN INDIA.
yes they are the dam fuckers earn money without any work and they want more money from those who dont work in india...let the m fuckers getlost..if the nri money is not going to india we will se how they live ..ass hols
Service tax on money send by NRIs
Negative approach: Whoever Politician gave this suggestion, he need to be stay in Middle east how NRI making money: In middle east most of NRIs are working more than 10hrs per day in hot weather, away from home,family and friends.
HI PRASHANT, IF PEOPLE SEND 20000USD AND PAY 50USD AS A FEE, THEN HOW MUCH TAX WILL BE ADDED. AND FEES WHAT WE ACTUALLY PAY WILL BE COUNTED OR IS AS PER GOVT RULES PER DOLLAR
please check the below link.....service charges on fund transfers and not on fees..
http://in.news.yahoo.com/put-tax-nri-remittances-hold-tharoor-083041574--finance.html
I think 56 dollar now, 6 dollar more than before. Wait for more accurate..
In 2014 election nri not support to upa
SHAME ON TE FUCKKING UPA GOVT,THEY ARE ENJOING THEIR LIFE BY USING PUBLIC MONEY
-BLODDY CHOR- INSTED OF THINKING ON THIS TOPIC THEY MUST THIN ABOUT CURRUPTION , BUT THEY WILL NOT DO SO , B.COZ THE ARE TOTALLY CURRUPT, BAASTERD
chorr congarss and sms
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