Indore (Madhya Pradesh): Non-Resident Indians (NRIs) need to take advantage of the Double Taxation Avoidance Agreement (DTAA) between India and the country they are living in to avoid double taxation of their income.
Chartered accountant Abhishek Gang said this while speaking at a seminar on ‘NRI taxation’, here on Saturday.
He said that these days many NRIs are getting notices, under section 133(6) or 142(2) of Income Tax through e-mails and faxes. Since the taxpayer resides abroad, such notices do not come to the notice of the taxpayer. In many cases, the login of the taxpayer is not even registered on the Income Tax Portal. Due to this, in most cases, the replies are not submitted and the department has to issue ex-party orders.
Gang said that taxpayers should register their correct mobile number and email ID to ensure there is proper communication.
Earlier, Shailendra Singh Solanki, president of Tax Practitioners Association, said that in this era of globalisation, cross-border transactions have increased due to which issues of international taxation are coming up in large numbers. There are many misconceptions and wrong interpretations regarding NRI taxation in income tax.