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Folks: UAE residents don't have to pay taxes in India just because UAE has no personal tax.

Only those people who aren't a tax resident of any country (AND) are indian citizens will be deemed indian residents. (thread)
Soem people stay 3 months in India, 2 months in UK, 4 months in US etc. and are non-resident in any of these countries - and thus pay no taxes anywhere.
These are rich people, but also people like those in the merchant navy.

They will now be considered Indian residents and pay taxes on their worldwide income, in India.
The only way out is to be a valid tax resident of some other country. Even Dubai.
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Deepak Shenoy
@deepakshenoy
The new slabs are actually quite decent for a few people.
1) The retired: If you dont have an income and survive on just interest or gains from funds, the new slabs save you the need to reinvest earnings into ELSS options. (The idea of ELSS was to help you retire, not after!)
2) Taking a break or a sabattical: Might need to cash in on the investments, that earns you income but you have no salary or HUF. Again, helps your cash flow by takign the new slabs.
3) Those that smartly paid for their own house, have no housing loans and are living in their house. The new slabs save such a person 10K to 30K a year, and doesn't need them to invest in 80C related things. (This is good, we should reward such behaviour)
Read 8 tweets
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Deepak Shenoy
@deepakshenoy
The Budget begins. #Budget2020 (Thread)
Will enhance purchasing power, says the FM. We're on!
The first part is going to be all blah, blah, blah.
Read 108 tweets
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Deepak Shenoy
@deepakshenoy
Yes, the GDP number is horrible. But one nice thing: at a nominal per-capita income of Rs. 152,000, India has crossed $2,000 per-capita that we've always said was elusive. Here's hoping things get better from here.
Agriculture grew 9.8% nominal, but only 2.8% real - that's a hefty 7% inflation in there!
Strangely, Mining saw some 3% Deflation, with GDP in that sector falling 1.5% nominal, but growing at 1.5% real. Since real = nominal minus inflation (approximately) - there's been deflation in mining prices, apparently.
Read 7 tweets

Related threads

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Anurag Singh
@anuragsingh_as
Long thread on Budget FY-2020: How difficult is finance minister’s job in #India. If you’re amongst those who think the budget doesn’t do much for people, you need to understand this in detail. Why do we struggle to solve national problems? #Budget2020 #NirmalaSitharaman
Let me simplify things for the readers as to how the budget looks like & what the numbers mean. Below is the graphic that I have created for the revenue & expense heads for govt of India.Left side is govt INCOME & right side is how it SPENDS for the year. Size Rs 27.8 lac crores
Income of govt:
1) Taxes & non-tax revenue is 61% & 10% respectively. Additionally, another 4% comes by selling govt shares in PSUs. All this adds to 75%.
2) Borrowings forms the balance 25% of Income. This is our govt borrowing money to spend which of-course carries interest.
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IndoPacific_SCS_Info
@IndoPac_Info
Thread: #India-#US to hold first tri-service exercise in November

timesofindia.indiatimes.com/india/india-us…
The first-ever tri-Service exercise between India and the US will focus on large-scale amphibious HADR (humanitarian relief and disaster relief) operations along the eastern coast in the Bay of Bengal in November.
The exercise, “Tiger Triumph”, which was announced by US President Donald Trump during the “Howdy Modi” event at Houston on Sunday will be held off Visakhapatnam and Kakinada.
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IndoPacific_SCS_Info
@IndoPac_Info
#India #Pakistan: Unprecedented heavy shelling all along the Line of Control has been reported by many sources in the last few hours. The Pakistani side of the LoC has been cut off from the internet. Casualties reported. Not clear what the reason is for the flare up.
#India #Pakistan: 200Km area is seeing worst ever Artillery Duel post Balakot Airstrikes after Pakistani Army tried to aid Terrorist incursion in Indian Side
#India #Pakistan: @ANI news Agency: Army Sources: Ceasefire violation since morning at multiple locations along Line of Control(LoC) including Uri, Tangdhar, Keran & Sunderbani. Indian Army targeting suspected terrorist launch pads & new positions being built on Pak side of LoC
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Audrey Truschke
@AudreyTruschke
Folks - Let's talk about race, privilege, identity, and what constitutes a legitimate claim to knowledge in the study of Indian history. THREAD #AcademicChatter #AcademicTwitter #history #India
I've been accused in the last day or so of being a white women talking about Indian history. This mistakes a key point: My authority to speak about specific aspects of the Indian past does not rest on the color of my skin or on my gender.
I speak about Indian history as a trained scholar. We've been over this ad nauseam - I read Sanskrit, Indo-Persian, Braj Bhasha, Hindi & Urdu. I hold a PhD in South Asian Studies. I'm an Assistant Professor of History at a research university. I publish peer-reviewed scholarship.
Read 17 tweets
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Sunny Singh
@sunnysingh_n6
Elections coming up in #India. Not surprised that terrorist attacks and sectarian thuggery are in play again.

Always amazed (and saddened) that the same horrific, tragic tactics by the same players work every damn time!
And I always come back to the same question:

How many lives, how much human suffering is worth your damn nation-states?
I am very aware that all three of the countries important to me - UK, USA, India must address this with varying degrees of urgency:

If people don’t want to be part of your nation-state, not all the rhetoric, not all the violence will make them stay.
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Joseph Stalin
@StalinIsBack
1/8 My favorite #quote by #JosephStalin, which explains the scientific, #DialecticalMaterialist explanation of true freedom in material reality, not just as an abstract ideal. #StalinIsBack #StalinLives #JVStalin #Stalin #StalinQuote #StalinQuotes #Truth #MELS #MarxismLeninism
2/8 Having an #objective, #rational, #ScientificSocialist, #Dialectical, & #Materialist viewpoint allows us to accurately see & evaluate & analyze #Truth & #Reality as they truly materially exist in this universe.
3/8 An idealistic, dogmatic viewpoint, which capitalists have, however, makes one irrational enough to 'see' freedom where freedom stays trapped on a piece of paper while people are oppressed in their actual lived lives.
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