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Activity:
Question posted: 05 16 2009 23:41:48 +0000,
3 answers, 441 views, last activity
07 06 2010 20:18:08 +0000
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What is the difference between India's Double Taxation treaties with UAE & Thailand. UAE has no personal tax whereas Thailand has personal Income Tax?
Assuming a Resident Indian & a NRI is having 50000 Rs./Month Income in India & 50000 Rs./Month Income in Thailand (Case 1, Personal Income Tax 20%) or 50000 Rs./Month Income from UAE (Case 2). What will be their taxability? Will living expenses in the country abroad be allowed for deduction from taxable income?
Sanjay.
We pay indirect taxes in terms of increased cost of living in U.A.E. The concept of NRI earnings been changed, gone are the days where one become NRI to earn and save, now a days due to the cost of living and money value trends it is becoming impossible to save. There are so many Non-Resident Indians now becoming Non-Return Indians. Pitty.
The aim of DTT is to avoid the same income being taxed twice.An NRI under indian income tax law is allowed to take an advanced ruling on his specific issues to understand his taxability.As far as I know, it does not matter if your income is not taxed in UAE to avoid indian income tax.Income of NRIs are not taxed in India as you would know.But incomes like interest on deposits,rents etc. earned in India are taxable even though you are an NRI.
Living expenses are not deductible even in India.The basic exemption limit under Indian Income tax act takes care of that.Various incentives are provided to reduce your taxability for example, children's education, savings under insurance,mediclaims etc.Trust the above addressed your issues broadly.
I do not have details about this treaty but I put my views where UAE is concerned. Living expenses in the country abroad should be allowed for deduction from taxable income
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