(SPAM) Indian citizens to pay tax for their worldwide income
This is a hoax. There is no such announcement or news of such a plan from the government.
Post Information:
Below post has been circulating on social media. Its a hoax. There is no such announcement or plan from the government as on today (25 Nov 2016)
Forwarded as received :-
The Government of India will introduce a new policy, effective from 31 March 2017, that will force ALL persons holding an Indian citizenship to pay TAX on their WORLDWIDE Income. This means that if you are holding an Indian passport, regardless of where you reside in the world, and even if you have not travelled to India for a long period of time, you will be forced to declare your worldwide income to the Indian Tax Authorities, which worldwide income will be subject to Indian Income Tax.
Last year, 15,000 Indian nationals took up residence in Dubai for tax saving purposes. Others relocated to Hong Kong, Singapore, Mauritius and other low tax jurisdictions in order to mitigate their tax liability in India. However, when the new policy comes into place, regardless of their tax residence, the Indian national will still have to declare their non-Indian wealth to the Indian Government. This model to be adopted by the Indian Government is taken from the USA model. In the USA, the Government levies tax on the worldwide income and estate/gift returns on ALL USA citizens, regardless of where you live. See link https://www.irs.gov/individuals/international-taxpayers/u-s-citizens-and-resident-aliens-abroad
Forwarded msg. Pls look into this aspect
Also a picture has been circulating (updated 31 Jan 2017)
Verification:
Neither there is any news about such a big move (if any) anywhere in the mainstream media, nor is the post expressing the view correctly. It tells about tax on worldwide income and a US model and has a link of US local income tax paying.
We will assume the post was created for “fun”.
Post Date: 25 Nov 2016
Post ID: #1239
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