NRI Worldwide > NRInterest
UK NRI women cautioned to hide jewellery !
Report dated 04/09/2012 @ 2:19 PM
With the growing incidents of jewellery snatching and robberies in British shops, police in Leicester have advised NRI women to use a scarf or other clothing to conceal their ornaments while out on the streets. Leicester has seen a spate of daring burglaries of jeweller's shops particular in the Golden Mile on Belgrave Road, popularly known as Little India. A video has also been produced on the guide lines for women to protect themselves. Police say an increase in the value of gold has made female pedestrians with their jewellery on show easy targets.
Tax rules students heading to the US should remember
Report dated 02/09/2012 @ 2:51 PM
This is a brief reminder of 3 tax rules students heading to the US should keep in mind: Rule 1: As a student on an F1 visa your are considered a non-resident of the US for the first 5 years, if you are on a J visa the period is 2 years, so as an NR of the US you pay taxes only on your income from the US, considering that you may be working part time. Notwithstanding, there are certain forms that must be submitted or one is treated as a resident and global income will be taxed. Rule 2: As a non resident alien you will have to pay taxes in the US on only your US income as students from India have a special benefit. They can use the standard deduction that is not allowed for other non-residents. Rule 3: If you received a scholarship or fellowship in the US all or part of it may be taxable in the US. Generally the entire amount is taxable if you are not a candidate for a degree. It is always best to consult a specialist who is in the know on these and other tax rules and regulations.
Anti-avoidance rules to now include all NRI tax payers
Report dated 02/09/2012 @ 2:50 PM
The scope of the General Anti-Avoidance Rules (GAAR) is expected to be expanded to include all NRI taxpayers into the ambit of the rules that were initially applicable only for foreign institutional investors. The Shome panel, appointed by PM Singh and headed by Parthasarathi Shome has also pushed to extend the deadline for implementation of the rules by three years, rather than from April 2013. The draft recommendations have been submitted to finance minister P Chidambaram. The General Anti-Avoidance Rules are the central theme of the Direct Tax Code which the government made a part of the budget this fiscal. Despite negative reactions to GARR the deferment provided a boost to the equity markets and the rupee. Other recommendations made by the Shome Panel are - abolishing capital gains tax on FIIs; a hike in securities transaction tax; retaining the Mauritius circular 789; and a threshhold of Rs.3 crore for not invoking GAAR.
NRIs face deportation as UK University banned from sponsoring students
Report dated 01/09/2012 @ 3:13 PM
Over 2000 foreign students, including several hundred from India may be deported after the London Metropolitan University (LMU) was barred from sponsoring non-European students for allegedly harbouring illegal immigrants in the guise of students. Immigration Minister Damian Green said the University proved to be a deficient sponsor and admitted many who did not have permission to stay in the country. Most of the students who are from the Indian subcontinent, Africa and the the Caribbean, now have 60 days to find another sponsoring university or leave and go back home or they will be deported. The University Vice-Chancellor rejected the claims and accused the UK Border Agency of rewriting its own guidelines. Universities Minister David Willetts introduced a task force to help the affected students and promised to work tirelessly to support them, so that genuine students are offered advice and help including finding other institutions at which to complete their studies. The National Union of Students said the decision was 'heavy-handed' as Keith Vaz, Chairman of Parliament's Home Affairs Select Committee said the move left thousands of students in limbo and could harm Britain's reputation abroad.
India diplomatic bag found in the Alps 46 years after plane crash !
Report dated 31/08/2012 @ 3:04 PM
A jute bag containing diplomatic mail from India has been found on Mont Blanc, near where an Air India plane crashed 46 years ago. The bag was recovered by a mountain rescue worker after some tourists spotted it on a glacier. The Air India plane was flying from Mumbai to New York when it crashed in January 1966. All 117 people on board died. Rescue worker Arnaud Christmann said they also found pieces of the cabin, a shoe and cables and the diplomatic bag was sitting as if someone had just placed it there. The bag has been handed over to police in Chamonix at the base of the mountain. Indian embassy officials in Paris said they were not informed of the discovery but would look into recovering the bag.
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