glus
05-31 10:37 AM
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acecupid
09-06 08:33 PM
Read something interesting on TOI..
NRIs treated as Not Required Indians! - India - NEWS - The Times of India (http://timesofindia.indiatimes.com/news/india/NRIs-treated-as-Not-Required-Indians/articleshow/4979439.cms)
Indubhai Amin, a non-resident Indian (NRI) settled in the UK earns interest income of Rs 3 lakh on his non-resident ordinary account bank deposit in
India in the current FY 2009-10. Enjoying his personal exemption limit of Rs 1.60 lakh and the eligible deduction of Rs 1 lakh u/s 80C, Amin is comfortable paying income tax of Rs 4,000 in the first slab of 10 per cent on his effective taxable income of Rs 40,000.
Flat tax of 20% and 30%
A huge shock awaits Amin and millions of NRIs, in regard to taxation of their interest and investment income and capital gains earned in India, proposed to be treated under the draft Direct Tax Code as "income from special sources."
In 2011-12, on the same interest income of Rs 3 lakh, Amin will be required to pay a hefty tax of Rs 60,000 at the flat rate of 20 per cent, without being eligible to claim any basic exemption or other deduction, as provided under rule three of the First Schedule to the Code.
Moreover, all capital gains earned by a non-resident will attract a flat tax of 30 per cent, irrespective of the amount of capital gains. While a resident Indian will be required to pay tax of Rs 3.84 lakh on his taxable income of Rs 25 lakh, an NRI earning equivalent capital gains will be called upon to pay almost double tax of Rs 7.5 lakh.
Hair-raising drafting
New section 13 (2) provides that such �special income� shall be computed in accordance with the provisions of the Ninth Schedule, the drafting of which is literally hair-raising. It provides that the amount of accrual or receipt shall be computed as the taxable income, and no loss, allowance or deduction shall be allowed, as the same shall be presumed to have been granted. The only exception in this regard, in respect of capital gains arising from the transfer of equity shares or units of equity oriented mutual fund chargeable to STT, is quite amusing, as it stands redundant in view of the proposal to abolish STT (a classic instance of incoherent drafting).
The draftsman does not seem to have realized the harsh implications. It means that if an NRI sells a capital asset purchased for Rs 10 lakh at Rs 30 lakh, he will be required to pay tax of Rs 9 lakh at 30 per cent on the gross sale consideration of Rs 30 lakh without any deduction even for the cost of acquisition of Rs 10 lakh (not to mention any benefit of indexation on the same).
Determination of residential status
The residential status of an individual under the Code is proposed to be determined as per the current norms. However, the status of "not ordinarily resident" (NOR) is proposed to be eliminated. Despite the above, Clause 24 of the Sixth Schedule has still provided for exemption in respect of interest earned on foreign currency deposits in the case of NOR. Poor drafting indeed!
The Code has proposed to retain the current exemptions availed by a non-resident in case of interest earned on NRE and FCNR deposits with banks.
Special exemption for returning NRIs
A useful exemption has been provided in case of income earned outside India, if it is not derived from a business controlled from India, in the financial year in which the returning NRI becomes an Indian resident and the immediately succeeding financial year. However, the benefit of the said exemption would be available, only if such individual was a non-resident for nine years immediately preceding the financial year in which he becomes a resident.
Wealth-tax liability for NRIs
Proposed Section 102 of the Code provides for wealth tax liability in the case of the value of all global assets of an individual or HUF. However, an exemption has been provided in case of the value of assets located outside India in case of an individual who is not a citizen of India or an individual or HUF not resident in India. Hence, while returning NRIs who are non-citizens will enjoy wealth-tax exemption for their overseas assets, NRIs with Indian citizenship becoming residents will attract wealth-tax liability on such assets held abroad.
Illogical exemption under wealth-tax
Talking about wealth tax, the Code prescribes an exemption in respect of any house or plot of land belonging to an individual or HUF, if it is acquired before April 1, 2000. It is difficult to understand the logic as to why this exemption has been denied in all cases where such immovable property is acquired after March 31, 2000!
Proposals That Will Hurt the Global Indian Sentiment
Flat Rate of Tax
20% flat tax on interest & other investment income
30% flat tax on all capital gains
Apart from 20% & 30% TDS on above, TDS at a baffling rate of 35% prescribed on all residual income
No Personal Exemption
No personal exemption or deduction allowed in computing the above income treated as �income from special sources�.
Weird Interpretation
Poor drafting leads to such a weird interpretation that transfer of a capital asset may attract 30% tax on gross sale consideration.
What Discrimination!
Ironical but true! Non-Indian sportspersons, say Ricky Ponting or Shoaib Akhtar, required to pay a concessional tax of 10% on their game, advertisement and column earnings in India, thus enjoying a more privileged tax status than our own sons of the soil living abroad.
NRIs treated as Not Required Indians! - India - NEWS - The Times of India (http://timesofindia.indiatimes.com/news/india/NRIs-treated-as-Not-Required-Indians/articleshow/4979439.cms)
Indubhai Amin, a non-resident Indian (NRI) settled in the UK earns interest income of Rs 3 lakh on his non-resident ordinary account bank deposit in
India in the current FY 2009-10. Enjoying his personal exemption limit of Rs 1.60 lakh and the eligible deduction of Rs 1 lakh u/s 80C, Amin is comfortable paying income tax of Rs 4,000 in the first slab of 10 per cent on his effective taxable income of Rs 40,000.
Flat tax of 20% and 30%
A huge shock awaits Amin and millions of NRIs, in regard to taxation of their interest and investment income and capital gains earned in India, proposed to be treated under the draft Direct Tax Code as "income from special sources."
In 2011-12, on the same interest income of Rs 3 lakh, Amin will be required to pay a hefty tax of Rs 60,000 at the flat rate of 20 per cent, without being eligible to claim any basic exemption or other deduction, as provided under rule three of the First Schedule to the Code.
Moreover, all capital gains earned by a non-resident will attract a flat tax of 30 per cent, irrespective of the amount of capital gains. While a resident Indian will be required to pay tax of Rs 3.84 lakh on his taxable income of Rs 25 lakh, an NRI earning equivalent capital gains will be called upon to pay almost double tax of Rs 7.5 lakh.
Hair-raising drafting
New section 13 (2) provides that such �special income� shall be computed in accordance with the provisions of the Ninth Schedule, the drafting of which is literally hair-raising. It provides that the amount of accrual or receipt shall be computed as the taxable income, and no loss, allowance or deduction shall be allowed, as the same shall be presumed to have been granted. The only exception in this regard, in respect of capital gains arising from the transfer of equity shares or units of equity oriented mutual fund chargeable to STT, is quite amusing, as it stands redundant in view of the proposal to abolish STT (a classic instance of incoherent drafting).
The draftsman does not seem to have realized the harsh implications. It means that if an NRI sells a capital asset purchased for Rs 10 lakh at Rs 30 lakh, he will be required to pay tax of Rs 9 lakh at 30 per cent on the gross sale consideration of Rs 30 lakh without any deduction even for the cost of acquisition of Rs 10 lakh (not to mention any benefit of indexation on the same).
Determination of residential status
The residential status of an individual under the Code is proposed to be determined as per the current norms. However, the status of "not ordinarily resident" (NOR) is proposed to be eliminated. Despite the above, Clause 24 of the Sixth Schedule has still provided for exemption in respect of interest earned on foreign currency deposits in the case of NOR. Poor drafting indeed!
The Code has proposed to retain the current exemptions availed by a non-resident in case of interest earned on NRE and FCNR deposits with banks.
Special exemption for returning NRIs
A useful exemption has been provided in case of income earned outside India, if it is not derived from a business controlled from India, in the financial year in which the returning NRI becomes an Indian resident and the immediately succeeding financial year. However, the benefit of the said exemption would be available, only if such individual was a non-resident for nine years immediately preceding the financial year in which he becomes a resident.
Wealth-tax liability for NRIs
Proposed Section 102 of the Code provides for wealth tax liability in the case of the value of all global assets of an individual or HUF. However, an exemption has been provided in case of the value of assets located outside India in case of an individual who is not a citizen of India or an individual or HUF not resident in India. Hence, while returning NRIs who are non-citizens will enjoy wealth-tax exemption for their overseas assets, NRIs with Indian citizenship becoming residents will attract wealth-tax liability on such assets held abroad.
Illogical exemption under wealth-tax
Talking about wealth tax, the Code prescribes an exemption in respect of any house or plot of land belonging to an individual or HUF, if it is acquired before April 1, 2000. It is difficult to understand the logic as to why this exemption has been denied in all cases where such immovable property is acquired after March 31, 2000!
Proposals That Will Hurt the Global Indian Sentiment
Flat Rate of Tax
20% flat tax on interest & other investment income
30% flat tax on all capital gains
Apart from 20% & 30% TDS on above, TDS at a baffling rate of 35% prescribed on all residual income
No Personal Exemption
No personal exemption or deduction allowed in computing the above income treated as �income from special sources�.
Weird Interpretation
Poor drafting leads to such a weird interpretation that transfer of a capital asset may attract 30% tax on gross sale consideration.
What Discrimination!
Ironical but true! Non-Indian sportspersons, say Ricky Ponting or Shoaib Akhtar, required to pay a concessional tax of 10% on their game, advertisement and column earnings in India, thus enjoying a more privileged tax status than our own sons of the soil living abroad.
sss9i
11-16 01:22 AM
I will join and I am from Phoenix.
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logiclife
01-02 09:09 PM
There is an analysis on the upcoming immigration bill in washingtonpost.com on the frontpage of online version of the paper. In BOLD.
(This article is also crossposted on immigrationportal.com. Eventually I am going to cease posting there and post exclusively here)
The article majorly deals with the politics of the immigration bill coming in Feb 2006 on both side of the aisle and people's opinion in general.
There is no mention of legal immigration. None. Nothing. NADA. ZIP.
Its all about illegal immigrants(mostly mexicans who jumped the fence on the southern border). And guess what?? Majority of America is against illegal immigration. And my fear is that the winds blowing against illegal kind of immigration will sweep us all in the same bundle and punish the LEGAL kind of immigration. Kind of like GUILT by association.
Here is a quote from washingtonpost.com(Most read inside Washington DC)
The Post-ABC News poll found that four in five Americans think the government is not doing enough to prevent illegal immigration, with three in five saying they strongly hold that view.
The same poll found that 56 percent of Americans believe that illegal immigrants have done more to hurt the country than to help it, with 37 percent saying they help the country. About three in five Republicans and a bare majority of Democrats agreed that illegal immigrants are detrimental to the country.
See the whole thing here : http://www.washingtonpost.com/wp-dyn/content/article/2006/01/02/AR2006010201376.html
My regtrogression brothers and sisters.....IF WE WANT TO END RETROGRESSION and end the H1B blackout WE HAVE GOT TO SEPARATE OURSELVES FROM THE ILLEGAL KIND and point out the congress and the general populace that there is another kind of immigration which is called ***TADA*** LEGAL IMMIGRATION. Its involves a process of granting permenant residence and citizenship to folks who are
1) Present Legally.
2) Entered LEgally.
3) Work legally.
4) Pay their income taxes.
5) Pay their social security and medicare taxes even when there is no guarantee of the benefits of either until they actually become citizens.
6) Play by the rules, file petitions for work permits and for permenant residency.
Our goal is not the hurt or help the cause of illegals but to make sure that we dont get punished due to wrath against them. After all, we played by the rules and we wait in line by the rules. We dont need amnesty. We need fair deal.
I once again urge you all to channel your energy to immigrationvoice.org This is a non-profit established with goal of ending retrogression using the next immigration bill as a vehicle. Its folks like you and me Losing sleep over retrogression. People like us wondering "What wrong did I do to deserve another 5-6 years of H1B extensions". I am not asking you to put money upfront. It does not cost anything to enroll or join or volunteer. But pooling ideas is invaluable. Stop sulking. Act now.
(This article is also crossposted on immigrationportal.com. Eventually I am going to cease posting there and post exclusively here)
The article majorly deals with the politics of the immigration bill coming in Feb 2006 on both side of the aisle and people's opinion in general.
There is no mention of legal immigration. None. Nothing. NADA. ZIP.
Its all about illegal immigrants(mostly mexicans who jumped the fence on the southern border). And guess what?? Majority of America is against illegal immigration. And my fear is that the winds blowing against illegal kind of immigration will sweep us all in the same bundle and punish the LEGAL kind of immigration. Kind of like GUILT by association.
Here is a quote from washingtonpost.com(Most read inside Washington DC)
The Post-ABC News poll found that four in five Americans think the government is not doing enough to prevent illegal immigration, with three in five saying they strongly hold that view.
The same poll found that 56 percent of Americans believe that illegal immigrants have done more to hurt the country than to help it, with 37 percent saying they help the country. About three in five Republicans and a bare majority of Democrats agreed that illegal immigrants are detrimental to the country.
See the whole thing here : http://www.washingtonpost.com/wp-dyn/content/article/2006/01/02/AR2006010201376.html
My regtrogression brothers and sisters.....IF WE WANT TO END RETROGRESSION and end the H1B blackout WE HAVE GOT TO SEPARATE OURSELVES FROM THE ILLEGAL KIND and point out the congress and the general populace that there is another kind of immigration which is called ***TADA*** LEGAL IMMIGRATION. Its involves a process of granting permenant residence and citizenship to folks who are
1) Present Legally.
2) Entered LEgally.
3) Work legally.
4) Pay their income taxes.
5) Pay their social security and medicare taxes even when there is no guarantee of the benefits of either until they actually become citizens.
6) Play by the rules, file petitions for work permits and for permenant residency.
Our goal is not the hurt or help the cause of illegals but to make sure that we dont get punished due to wrath against them. After all, we played by the rules and we wait in line by the rules. We dont need amnesty. We need fair deal.
I once again urge you all to channel your energy to immigrationvoice.org This is a non-profit established with goal of ending retrogression using the next immigration bill as a vehicle. Its folks like you and me Losing sleep over retrogression. People like us wondering "What wrong did I do to deserve another 5-6 years of H1B extensions". I am not asking you to put money upfront. It does not cost anything to enroll or join or volunteer. But pooling ideas is invaluable. Stop sulking. Act now.
more...
tikka
08-10 11:00 AM
bump
any CT members coming along with you.. ?
any CT members coming along with you.. ?
anishNewbie
09-11 11:38 AM
@vsuri , @prasadn, @eb2_mumbai
Thanks guys for sharing your exp.. this is what i was talking about.. it gives me some confidence starting my GC...Any1 out there please share your experience on EB2 filed as MS + 0
Could you guys tell me that ur advertisement/job requirements -- had any alternate education in it..like BS +5 as per the norm..
If yes, then it would be gr8.. if u can have a look at ur LC/9089 form and let us all EB2 aspirants know that..what did you specify in your H section..at 4(as min requirements-- MS or BS +5) and what as alternate requirements(8-A,C)
Did any of you guys, or any1 here had to prove Business Necessity when they filed EB2..
Thank uuuuuu.....:D (P.S. looks like we are going to beat NZ todayy)
Thanks guys for sharing your exp.. this is what i was talking about.. it gives me some confidence starting my GC...Any1 out there please share your experience on EB2 filed as MS + 0
Could you guys tell me that ur advertisement/job requirements -- had any alternate education in it..like BS +5 as per the norm..
If yes, then it would be gr8.. if u can have a look at ur LC/9089 form and let us all EB2 aspirants know that..what did you specify in your H section..at 4(as min requirements-- MS or BS +5) and what as alternate requirements(8-A,C)
Did any of you guys, or any1 here had to prove Business Necessity when they filed EB2..
Thank uuuuuu.....:D (P.S. looks like we are going to beat NZ todayy)
more...
seeking_GC
07-28 02:08 PM
Hi Everyone,
My I140 which has been approved for more than 4 years now was transferred from Texas to Nebraska.
Trying to find the method in USCIS madness - has this happened to anyone else also and any reason why they might suddenly have decided to do this?
One reason I can think of is my 485s are in NE so maybe they are trying to consolidate all information in one file??
Appreciate peoples inputs.
My I140 which has been approved for more than 4 years now was transferred from Texas to Nebraska.
Trying to find the method in USCIS madness - has this happened to anyone else also and any reason why they might suddenly have decided to do this?
One reason I can think of is my 485s are in NE so maybe they are trying to consolidate all information in one file??
Appreciate peoples inputs.
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jliechty
January 6th, 2005, 10:57 PM
A tip - use a mask on the upper layer instead of an eraser; it's easier to change later on and fine-tune if you'd like. Of course, you could also use a Channel Mixer adjustment layer with mask to make fine adjustments to the B&W conversion. :)
more...
fromnaija
09-14 01:54 PM
you would have to specify that when you apply for the AP. Look at part 7 item 2 in the application.
NO, that part applies to a person applying for Advance Parole (humanitarian reason) and not Advance Parole (baed on peding I-485).
This confusion is because the form is used for multiple application type - Rentry Permit, Refugee Travel Document, Advance Parole (humanitarian and I-485 pending). I think USCIS should redesign separate form for each application type to remove the confusion.
If your AP is based on a pending I-485 you must be in the US to apply and receive the approval. If you need to travel before the approval, you could go to a local USCIS office to expedite the application.
NO, that part applies to a person applying for Advance Parole (humanitarian reason) and not Advance Parole (baed on peding I-485).
This confusion is because the form is used for multiple application type - Rentry Permit, Refugee Travel Document, Advance Parole (humanitarian and I-485 pending). I think USCIS should redesign separate form for each application type to remove the confusion.
If your AP is based on a pending I-485 you must be in the US to apply and receive the approval. If you need to travel before the approval, you could go to a local USCIS office to expedite the application.
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anandrajesh
08-15 11:55 AM
USCIS is making contradictory statements. First they release an update that they have processed all applications mailed before July 1 but when I call customer service and tell them that my application was mailed on June 11 and that I am still waiting for the checks to be cashed they say wait for 90 days.
Welcome to the Weird World of USCIS where there are no rules to be followed.
Welcome to the Weird World of USCIS where there are no rules to be followed.
more...
pointlesswait
01-09 02:13 PM
it will be a status quo! i will be surprised if it moves!!!
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mrajatish
05-25 08:47 AM
Called Sen. Bingaman, Chuck Hagel's office - talked nicely to staff and explained. Wife is also calling - let us do this, folks, do you want to wait another 12 years while your gardenere gets his/her greencard. Wake up or sleep forever.
more...
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Raj2006
06-04 10:07 AM
lawyer paper filed april 15th
receipt received april 27th
received date april 16th receipt date april 26th
last soft LUD April 30th
no fp notice or anything since
called them 2 days ago to put in a request for fp cus i am tired of waiting hoped that this would prompt them to look at it.... so far no change
seems like CSC is slow compared TSC. I dont think they issue FP notice for paper filing. There were lot of applications received by CSC in feb..i think thats what is causing the delay. please keep us updated with your status.
receipt received april 27th
received date april 16th receipt date april 26th
last soft LUD April 30th
no fp notice or anything since
called them 2 days ago to put in a request for fp cus i am tired of waiting hoped that this would prompt them to look at it.... so far no change
seems like CSC is slow compared TSC. I dont think they issue FP notice for paper filing. There were lot of applications received by CSC in feb..i think thats what is causing the delay. please keep us updated with your status.
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laksmi
12-03 08:02 PM
I am also in same boat, I was gathering information on the same and found different solutions.
1)To be on safer side you can transfer H1B and also invoke AC21 to the new employer, if the new employer is willing to support,
2)If H1B is not revoked by the old employer then Yes , you can work on EAD or H1B for the same old employer
3) since I140 is approved for more then 6 months, you are safe, he may not have options to revoke I140.
4)If you have validity of H1B stamping on your passport then no need of using AP as well to go in and out of country, even after using EAD.
please advice on the same, good questions synergy.
1)To be on safer side you can transfer H1B and also invoke AC21 to the new employer, if the new employer is willing to support,
2)If H1B is not revoked by the old employer then Yes , you can work on EAD or H1B for the same old employer
3) since I140 is approved for more then 6 months, you are safe, he may not have options to revoke I140.
4)If you have validity of H1B stamping on your passport then no need of using AP as well to go in and out of country, even after using EAD.
please advice on the same, good questions synergy.
more...
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babu123
08-20 03:41 PM
Call 1-800-375-5283
options 1 2 2 6 2 2 1
At level 1, tell you didnt received receipt nbr and check not encashed.
You will be transfered to level 2. The officer at level 2 has access to check the name status.
Myself and my wife got the information. But some of my friends are not receiving the information. Good luck
options 1 2 2 6 2 2 1
At level 1, tell you didnt received receipt nbr and check not encashed.
You will be transfered to level 2. The officer at level 2 has access to check the name status.
Myself and my wife got the information. But some of my friends are not receiving the information. Good luck
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Aah_GC
07-21 11:16 AM
Hi there - thanks for posting this. Am in the same boat as you were. Do you by any chance have that fax number?
more...
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CHHAYA
04-20 01:19 PM
I filed on March 10 2011 at texas service center, check was cashed on 3/15. Hope that helps.
Thanks.
Thanks.
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lynchbaby
03-09 01:08 PM
In similar context I have a few questions...
The EB2 date is stuck at Jan 08,2003 for months now.I know about retrogression and all that. But can someone explain why the date is not moving? Is it because they ran out of numbers for EB2 for FY 06? (Like they do in H1 cases)
Also does anyone know why the EB2 visa numbers were dropped from 537 in FY05 to 145 in FY06? and why suddenly in 2006 they granted so many visas(6083 in FY06 vs 0 in FY05) to Schedule A workers (Nurses,Physical Therapist,Aliens with excep ability) ? was Schedule A category backlogged for all these years? I am just trying to get some things cleared about how the visa numbers are allocated.
The EB2 date is stuck at Jan 08,2003 for months now.I know about retrogression and all that. But can someone explain why the date is not moving? Is it because they ran out of numbers for EB2 for FY 06? (Like they do in H1 cases)
Also does anyone know why the EB2 visa numbers were dropped from 537 in FY05 to 145 in FY06? and why suddenly in 2006 they granted so many visas(6083 in FY06 vs 0 in FY05) to Schedule A workers (Nurses,Physical Therapist,Aliens with excep ability) ? was Schedule A category backlogged for all these years? I am just trying to get some things cleared about how the visa numbers are allocated.
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reddymjm
05-21 04:46 PM
I applied for renewal on May 19th. My EAD expires on August 23. So, I guess I'll have to follow your renewal process to see if mine will arrive in time.
If you are working on EAD and if you do not get your new ead 10 days prior to the expiry of the old one please take an infopass and they will email the IO working on it to approve. Couple of my friends did that and got their approvals in a day or two.
If you are working on EAD and if you do not get your new ead 10 days prior to the expiry of the old one please take an infopass and they will email the IO working on it to approve. Couple of my friends did that and got their approvals in a day or two.
pkv
04-13 05:35 PM
For a medical REF how many days do we have to reply?
Thanks,
RabiS
Doesn't your RFE letter says it clearly? They mention a "reply by date" also on the letter.
Thanks,
RabiS
Doesn't your RFE letter says it clearly? They mention a "reply by date" also on the letter.
meridiani.planum
03-28 11:30 AM
I think it will stay where it is now for this quarter.....just my guess. Then for the last quarter, we may see some advancement.....again this is my guess.
I think we will move even more now. Looking at how premium processing is not back, and how many approvals have come on , USCIS may not have approved as many visas as they had hoped. instead of having another highly visible wastage of visa numbers dates will move big-time and lots of people with later PDs, but who have simpler cases will get approvals fast.
I think we will move even more now. Looking at how premium processing is not back, and how many approvals have come on , USCIS may not have approved as many visas as they had hoped. instead of having another highly visible wastage of visa numbers dates will move big-time and lots of people with later PDs, but who have simpler cases will get approvals fast.
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