Govt may seek more details on NRIs' foreign remittances

New Delhi, Nov 17 (IANS): The Income Tax Department may make it compulsory for NRIs to share details of foreign remittances received from India and also divide it into taxable and non-taxable income in the next fiscal, according to reports.

In addition to this, NRIs may also be directed to disclose their Indian business connections and could be further asked to elaborate on the nature and even the whereabouts of such businesses, reports quoting sources said.

The Income Tax Department may also seek details in case of a person who received capital assets from the previous owner, and who was exempted from capital gains, the reports said.

In such a case, the person who received the capital asset may be asked to report the previous owner's details on the sale of capital assets, the reports, citing sources, said.



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Comment on this article

  • Chandu, Karla

    Thu, Nov 17 2022

    What about all those PSB loans defaulters who remitted thousands of Crores outside the country in a systematic manner and finally disappeared in the thin air....... at the cost of poor tax payers...!!???

    DisAgree Agree [5] Reply Report Abuse

  • Shetty, Mangalore

    Thu, Nov 17 2022

    Dear readers, Please read and understand the news correctly before commenting. Its remittance from India. Don't go single track jus because you do not like the govt in Central.

    DisAgree [6] Agree [2] Reply Report Abuse

  • Roland, Mangalore

    Thu, Nov 17 2022

    Gents, there absolutely no point in discussing the economy, it’s purely waste of time. Till the two gujjus are in power, life in india is going to be hell. Whether theur supporters like it or not , this remains a fact. We need someone who can stand up against these two gujju goons. He doesn’t need to be a politician but a clean man who can fight against these corrupt gujjus.

    DisAgree [2] Agree [7] Reply Report Abuse

  • Thousif, Mangalore, bolar

    Thu, Nov 17 2022

    They want it for buy for MLA.

    DisAgree [3] Agree [19] Reply Report Abuse

  • Nawaz, Udupi/ Kuwait

    Thu, Nov 17 2022

    As Andh Bhakths are always saying that NRIs are Anti Nationals as they left behind Indian soil to earn money. I don't know what drives their mind.

    DisAgree [3] Agree [17] Reply Report Abuse

  • Naveen Shetty, Mangalore

    Thu, Nov 17 2022

    This is the reward for sending US$ 89 Billlion (Seven Lakh Twelve Thousand Crore ). Modi and BJP have been running out of ideas to manage the economy and now trying to screw up things further by targeting NRIs. The NRIs are being meted out step motherly treatment by BJP led Govt in Center.

    DisAgree [10] Agree [37] Reply Report Abuse

  • Jb, Mlr/ dXb

    Thu, Nov 17 2022

    Please read the news again… it’s remittance from India and NOT to India. How is this effecting anyone if he has clean transactions? Can you explain?

    DisAgree [10] Agree [9] Reply Report Abuse

  • chandra, Surathkal

    Thu, Nov 17 2022

    People sitting ready to point out at Indian govt and Indian PM for anything, starting from local elections, toll gates, road potholes, etc etc

    DisAgree [2] Agree [4] Reply Report Abuse

  • Nawaz, Udupi/ Kuwait

    Thu, Nov 17 2022

    @Chandra, Because people pray him literally as an avatar of God (there are idols of him built to pray him) who has solution to every problem. Further, he works 18 hours/ day on election rallies across the country. And above all, if he has the ability to identify the rioters by just looking at the clothes. So, people have an impression about him that he holds some supernatural powers that can be used for solving each and every local problems like that of toll gate, road path holes etc.etc. And have you forgotten the famed MANN KI BAATH where he speaks to people from every part of India regarding toll gates and road path holes. It is so obvious , We thought he has solution to each and every problem

    DisAgree Agree [1] Report Abuse

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