The year 1991 witnessed a great change in the economic scenario of India. There was a paradigm shift from the then existing practice of closed economy. This opening up of economy has thrown open many challanges and opportunities. Indian businesses, on one side had to realign their strategies to cope with foreign giants, they got opportunity to learn from their foreign counterparts on the other. Of late, the seeds of globalization and liberal economic reforms sown by the Government of India in early nineties have started bearing fruits. As a matter of fact, India has become a major economic hub. Almost all industrial houses known all over the world are desiring to invest in India or, a number of Indians have already invested in India. A number of Indians who went abroad are also looking for opportunities to invest in India so as to get benefitted from growing Indian economy. As such the numerical and fiscal strength of Non-Residents investing in India has grown up and thus, germinates the need for a separate publication on Taxation of Non-Residents.
Non-Residents play a significant role in making India one of the most favoured destinations in the field of international trade, business and economy. Though they are physically outside India, yet they show up a great attachment to their motherland. Due to economic attachment, they make investments in portfolios of Indian industries, investments in properties in India, etc.
In view of the typical role of the Non-residents in the Indian economy, a need is always felt for a unique publication covering the entire gamut of Taxation of Non-Residents. Ever since the need for a specific book dealing with taxation aspects relating to Non-residents was felt and keeping this in view a serious attempt has been made in bringing out the publication titled "Taxation of Non-Residents" which is, perhaps, the only comprehensive yet compact book of its kind dealing at length with totality of the tax compliances relevant for Non-residents, a subject not much and not frequently written about.
The book having a wide coverage is, aimed at fulfilling every kind of tax related requirements of the Non-residents and has almost everything of their interest. It has, for convenience, purposefully been divided into thirteen major parts comprising 69 Chapters in all.
Entire scheme of presentation is as under :
Supplement : Post Finance Bill, 2018 Supplement
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Part I |
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Basis of Charge [Chapters 1 to 5] |
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Part II |
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Accrual or Arisal of Income in India [Chapters 6 to 14] |
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Part III |
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Exemption to Non-Residents [Chapter 15] |
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Part IV |
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Salary and Property Income of Non-Residents [Chapters 16 to 17] |
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Part V |
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Business Income of Non-Residents [Chapters 18 to 27] |
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Part VI |
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Capital Gains and Non-Residents [Chapters 28 to 29] |
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Part VII |
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Other Sources, Losses and Clubbing [Chapters 30 to 32] |
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Part VIII |
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Specific Incomes [Chapters 33 to 37] |
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Part IX |
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Deduction Available to Non-Residents [Chapters 38 to 41] |
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Part X |
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Double Taxation Avoidance Agreement Implications [Chapters 42 to 43] |
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Part XI |
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Income Tax Compliances [Chapters 44 to 47] |
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Part XII |
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TDS Vis-a-vis Non-Residents [Chapters 48 to 66] |
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Part XIII |
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Tax Clearance Certificate, Tax Planning Ideas and Advance Rulings [Chapters 67 to 69] |
The nomenclature of the Parts are inclusive and representative enough, to be able to provide appropriate measure of the contents thereunder or therein, as well as the expectations therefrom. They are as a matter of fact also reasonably self-explanatory.
Incorporating every conceivable aspect of the subject matter in totality this comprehensive referencer attempts at tackling all the problems concerning Non-Residents.
We believe that the present book is the only one of its kind, providing most comprehensive coverage of one of the most complex subject-matter, which will not only make it extremely useful for Non-Residents but also for the Foreign Institutional Investors, Overseas Corporate Bodies, Tax Planners, Corporate Executives and every other person actively or remotely connected with the Non-Residents.
Alongwith the Assessment Year 2019-20 Supplement placed in the very beginning of the book, this book stands fully updated for 2018. Apart from it, all the Circulars, Notifications or Instructions which may provide any guidance to the taxpayers have also been incorporated at the relevant place so as to make the book all the more useful and practical.
All said, we always try our best but if readers think that there are certain omissions, corrections, or some additional information, there is certainly, room for change or alteration or improvement. Any suggestions towards its further improvement will be thankfully acknowledged and incorporated in the next edition.
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JODHPUR |
--Dr. Avadhesh Ojha |
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20 February, 2018 |
--CA Manoj Gupta |