Withdraw Proposal Of Levying Tax Over 12% On All Foreign Remittances To India Forthwith – Badal Writes To PM

5 Dariya News

Chandigarh 05-Jul-2012

The Punjab Chief Minister  Parkash Singh Badal today urged the Prime Minister Dr. Manmohan Singh to immediately withdraw the proposed rate to taxation, in excess of 12% on all foreign remittances to India, being unreasonably high.   In a letter to the Prime Minister,  Badal said that it has come to his notice that the Union government has proposed to impose a tax on remittances from NRIs working and settled abroad.  He pointed out that the Punjabi Diaspora had already aired its displeasure at this move because Punjab has substantial population working abroad which was the sole bread earner for their families living in India.  These inpiduals work under difficult conditions, separated from their families, in order to earn their livelihood.  A tax on this meager remittance amount would hit at their very existence and cause much pain and consternation.Badal further stated from the media reports it appeared that the tax had been levied in order to check illegal inflow of money which may be used for drugs and other illegal activities.  However, resorting to taxation was not the solution to the problem.  Even, agricultural income was shown in the IT returns, but it is not taxed by the government.  Thus, the Union government may asked the beneficiaries to reflect such income received from abroad in their IT returns but such income should be exempted from income tax, added  Badal.