Why NRIs Are Getting Notices From Income Tax Department? - A Must Watch

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[tvm]

In my 10 years in India, I got a notice every single year. Despite paying crores of taxes each year, the IT department would rather go after me than politicians who probably made just as much or more without paying much/any taxes and/or earning from questionable sources. Obviously not very fair to me but then I accepted it. My CA was visiting the Commissioner every time on my behalf. But clearly such tactics would discourage many NRIs/foreign citizens from taking up postings in India. Something the Indian government should look into when they are trying to complete with China.

[kishorecoelho]

Thank you Dr Bhat for putting together this very informative and helpful program with the professional advice of CA Sriram

[opentech]

All way to loot normal people is built very well, but political parties and their black money loopholes are still kept

[avtarchana]

Thanks a lot for invaluable timely information. India is moving on fast towards professional handling of personal data and assessment. 🙏

[anilprasanna]

This is true. Earlier Service tax and income tax information was never exchanged. But I got a notice after 5 years for some oversight of 10 thousand rupees liability done in 2016. I had to pay 1 lakh penalty for this and its not easy to keep track of all the papers for years gone by

[vsab]

Excellent discussion.
I used to wonder why some articles advise us to first check the name in the IT notice, whether the name is correct or not. I wondered how one can get another person's notice. I was shocked to read a recent report that the same number PAN card has been alotted to two persons. So let every recipient of a notice check first of all if the name etc is correct.

[chilarai]

There needs to be a radical change in the taxation of not just NRI's but also the average Indian taxpayer rules. The current system is tyranny by a selected class of babus. The average Indian feels harassed and intimidated by these idiotic laws and is understandably incentivized to try and circumvent them. The best answer to increase revenue is to get rid of personal income tax and tax consumption instead. That removes the hated tax babus from the average Indian's life and transfers their efforts to deal with the well equipped corporate lawyers.

[rathishv]

Good discussion. But the problem is far more than what is discussed. The automation will not change the need to check the system and ensure unwanted burden is created on the citizen whether he/she is an NRI or resident. I am an NRI since the last 18 year or so. I have received numerous notices since 2020 and I gave clear documentation each time (spending a lot of my time) that the transactions are happening in my NRE account and are not liable to tax. But the process keeps on going until a showcase notice and on provision of documentation, that *particular* transaction goes to rest. But the same drill repeats when I make another transaction ! So much for automation. And it is a misconception that having the system itself will change things. The system needs to be maintained properly and loopholes needs to be fixed. Including the language in the notice. The AI is finally delivering a message according to the 'babu' who wrote up the message. The showcase notice language is as if we have committed a crime. If India needs to develop further, these things also needs to change. It is not the same in developed countries. They make sure they accuse or even a slight change in tone is made only after they ensure that they have ALL the info.
- Writing this after providing the same answer checking up my transaction on receiving the latest notice yesterday !

[SatendraYadav-rbun]

In a nut shell, over 16 lakh people left India in last 8 years..who the hell would like to rot in hell after paying taxes in 30% bracket..

[SagarHussain]

Dear Sir(s): I have been following almost all your youtube presentations dealing with NRE and NRO issues, which are incredibly valuable and useful in our daily lives.
I would like to request you to produce a video on the issues related to buying a property outside India as an NRI and if there are any regulations or rules that NRIs should be following.
Secondly, what would be the fate of such property purchased abroad and the owner ceases to be an NRI by virtue of his retiring or returning to India permanently, and how any income generated from the rental etc. of such property should be accounted for. And if the particular individual could continue to receive the income from abroad into any of his accounts in India.
Thank you again, for your valuable contributions in this direction.

[truthsearch]

Artificial intelligence should resolve the issues and not to create unnecessary problems as NRI's can not just come for the sake. If the nation put hard rules then NRI's will stop sending money.

[ajadhav]

Are these notices created to meet Tax Inspector face to face so that it is solved by "Payment under the Table" to Tax Carrful?

[premnathkn]

Submitting returns is very easy and returns are given very fast too.

[wolfy]

I haven't received any notice, but still good to be informed. :)

[glenlouis]

Having to pay tax and then pay GST+CST makes no sense considering only a minority percentage of people pay personal tax. I personally feel the current system as double taxation. Wish to see a better system that shares the burden equally.

[kroychoudhury]

I have received 5 of them.. including income on Provident Fund abroad.. each notice presumes you are not an NRI.. besides it asks you to come to India and meet.

[arundabholkar]

Investing money in India is going to be a pain in the butt!

[maganlal]

NRI still remains a taxpayer in India because he remains an Indian citizen. The income tax in India must know that he is liable for Indian tax for income from all over the world. To avoid one must declare their "tax residency" in the country in which they reside. Thus, any income from any other part of the world will only be declared in the country of his "tax residency". Therefore, incomes from any other part of the world outside the tax-resident country will be taxed in accordance with the foreign country's tax legislation. This way you are abiding by tax legislation in all countries from where you are receiving/deriving the income.

[rahulvarma]

Looks like things are gearing up beyond FATCA/CRS. No wonder this spreads to revenue department & property details are exchanged and income on it is taxed in residing country…! In that case, real estate market in India may have adverse effects…

[greatmono]

You add more restrictions, people will not feel any special interest in investing india..