Media Release
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Dubai, Apr 15 : Kanara Entrepreneurs Ltd. (KEL) are pleased to announce their next session – ‘Indian Budget 2012 - Impact on NRI Taxation’ open to all interested in understanding the new Tax Laws that will be applicable from next financial year.
Government of India presented its Budget for the year 2012-13 recently. The Finance Minister was faced with the daunting task of presenting the Budget amidst a background of global economic meltdown, sluggish industrial growth, spiraling fiscal deficit and continuing inflationary pressure. With expectations of 1.2 billion Indians and millions of foreign investors riding high on him, he expressed his agony in his Budget Speech by stating, “The life of a Finance Minister is not easy.
When everything goes well with the economy, we all share in the joy. However, when things go wrong, it is the Finance Minister who is called upon to administer the medicine.” His speech was an indicator of the bitter medicine he would prescribe through his Budget proposals and to vaccinate the Indian economy against the global economic crisis epidemic.
What are the changes he has proposed? How it will have an impact on the taxpayers? How to comply with changes and plan your taxes and organise your financial affairs accordingly? Do you want to know more about the impact on NRI’s, such as -
• How this Budget will impact the taxation of Non Resident Indians?
• Is the DTC (Direct Tax Code) applicable from this financial year?
• This budget contains number of retrospective amendments, which date back to the income earned from the year 1961. Whether it will have any impact on your earlier years taxes?
• Who is an NRI? Are there any changes in the meaning of NRI?
• Does the income of an NRI continue to be exempt?
• Is the income earned outside India taxable?
• Are special tax benefits to NRI ‘s will continue?
• What is the tax-free income an NRI can earn in India and repatriate them outside India?
• What is Wealth Tax? Are NRI’s liable to pay Wealth tax on assets held outside India?
• If an NRI sells property in India What will be his tax liability?
• How can you save your capital gains tax on properties?
• How can you plan your return to India and minimize the tax impact?
• How and when should you file your income tax returns? Can you file it online? What happens if you do not file your income tax returns? and
• …….. All your doubts related to Indian taxation….?
Here is an opportunity to hear from an expert and get an overview of all you wanted to know about NRI taxation.
Overview of the topic
• Analysis and overview of Tax proposals and the current income tax law applicable to NRI’s
• Tax on sale of properties - Recent changes and Planning of Capital gain Tax
• Taxation on Rental, Interest and other income - Changes
• Tax concessions, exemptions and benefits available for NRI’s
• Tax implications on returning to India - Planning your TR
• Gifts, inheritance and repatriation - Tax Implications
• Filing tax returns? How do you file them?
The session will be interactive and attendees will gain deep understanding on the Income tax awareness, changes and compliance.
Venue : The India Club, Dubai
Date : April 21, 2012 (Saturday)
Time : 6.30 pm (Registration)
Speakers : Mark D’Souza, President Elect, KE Bangalore
Registration: Registration is free for all KEL members and their spouses (valid membership as on date) and open to all other individuals on a first-come-first-serve basis against a registration fee of AED 100/= (spouses attend free). To take advantage of this opportunity, please register online or reply to the email invitation.
About Mark D'Souza:
Mark D Souza, Fellow Member of Institute of Chartered Accountants of India, has more than 24 years experience in Audit and Assurance services, Taxation, Corporate law, Foreign Exchange and Business consulting.
Co-founder of MACLANRO CONSULTING firm, involved in Business consulting. Corporate Training and Succession planning including drafting of Indian and Global wills Mark has over 20 years teaching experience in Accounting financial management, Taxation and Banking, also one of the visiting Faculties at St. Peter’s Pontifical Seminary since 1988.
Mark has over 5,000 Hours of Training experience, which includes Financial Planning, succession planning, Accounting, Direct and Indirect Taxation, Banking. FCRA, Communication and has over 20,000 hours of Business consulting experience.
Mark is currently on the Board of KE Global, Dubai, is a Lead Member and President-Elect of Kanara Entrepreneurs (KE) Bangalore.
Mark is a consultant to leading corporate and nonprofit organizations in Bangalore..