The Union Cabinet of India has approved the introduction in Rajya Sabha the Registration of Marriage of Non-Resident Indian (NRI) Bill, 2019. The bill empowers passport authorities to impound or revoke passport or travel documents of NRIs who fail to register their marriage in India or Indian Missions & Posts within 30 days of getting married in India or abroad. The Bill is an outcome of a joint initiative of the Ministry of External Affairs, Ministry of Women and Child Development, Ministry of Home Affairs and Ministry of Law and Justice. The objective of the Bill is to create more accountability and offer more protection against the exploitation of Indian women by their NRI spouses. It envisages (i) Registration of Marriages by Non-Resident Indians; (ii) Amendment of the Passports Act 1967 and (iii) Amendment to the Code of Criminal Procedure 1973. The introduction of the Bill was necessitated by the Ministry of External Affairs due to numerous complaints received from Indian nationals mostly women deserted or harassed by their Non-Resident Indian Spouses. It also provides provisions for attachment of properties belonging to the NRI, if he does not appear before the Court and is declared as Proclaimed Offender by the Court. The Bill proposes to offer greater protection to Indian women married to NRIs and serve as a deterrent to NRIs against harassment of their spouses. The Bill if passed in Lok Sabha as we would provide much-needed relief to all Indian women married to NRIs worldwide.
An NRO (Non-Resident Ordinary) savings account is where you can maintain and manage your income earned in India such as rent, dividends, pension, etc. An NRO account can be opened in the form of a savings, current or fixed deposit account. Repatriation of funds from NRO accounts is permitted by RBI, subject to certain limits. Procedure for opening an NRO account is as follows: 1. Options The non-resident Indian can convert his/her existing resident account in India to the NRO account or open a new NRO account. Documentary proof that the account holder is a non-resident as defined in Indian tax laws is a prerequisite for NRI accounts. 2. Difference between NRO & NRE Account Unlike NRE accounts, interest earned on this account is taxed at the rate of 30% (plus surcharge) and other applicable taxes in India according to the ITA. In order to take the benefit of lower rates of tax as per double taxation avoidanc...
Comments
Post a Comment