Taxes are the most important responsibility a citizen should follow to help the government. But, what if that same tax is being doubled just because you are an NRI or OCI. Something similar happened with 14.11% NRIs from Australia ,13.10% from UK and 8.06% from US, as they reported that they continuously face double taxation.
In recent years India has produced the largest amount of NRIs and OCIs. Other countries like Canada, Singapore etc also have a large number of NRIs and OCIs who are moving abroad for better education and job opportunities.
But, Indians are facing the hassle when it comes to the tax department. The NRIs reported that it is the most difficult job to get taxation documents from abroad, for filing taxes. A recent survey by SBNRI, proclaimed all the issues faced by NRIs and OCIs in foreign countries. Where the Indian government is working day and night so that NRIs could conduct the taxation process without any problem. But, Indians in foreign countries are still facing the problem.
It is also reported that 7% of UK and Australia based NRIs with 5% from Canada and Singapore, enjoy the tax savings options which are available to them. On the contrary, 2% from Australia, 4% from Canada and Singapore and 6% from the UK are unknown to the tax saving options.
SBNRI’s survey declared that the high NRI number for India is because of good employment options and education. Mainly higher education is the reason behind this large diaspora.
