Left Menu
Development News Edition

Maritime Unions oppose NRI tax proposal in Budget 2020

PTI | New Delhi | Updated: 03-02-2020 13:59 IST | Created: 03-02-2020 13:59 IST
Maritime Unions oppose NRI tax proposal in Budget 2020

Terming the Budget 2020 proposal to tax NRIs in India as "draconian", maritime unions on Monday said they will call on Union Finance Minister Nirmala Sitharaman to express their concerns. Countries like Philippines and Ukraine compete with India for global share of seafarers, but they do not levy high income taxes on their seafaring citizens, leading maritime unions said.

The Maritime Union of India (MUI) and National Union of Seafarers of India (NUSI) have initiated a strong protest campaign against the proposed change in the Income Tax Act after Budget 2020 proposed to tax Non Resident Indians (NRI) in India, who are not paying tax anywhere in the world, a joint statement from MUI and NUSI said. Also, with the period of stay in India being reduced from 181 to 120 days, people have to spend more time abroad — more than 245 days compared to 183 days earlier, will get the NRI status as proposed in Budget 2020, it added.

"It is a double whammy as Indian seafarers will have to pay income tax on the income generated from sailing aboard cargo ships across the globe for atleast 245 days in a year. "We have started collecting the protest letters signed by all members of NUSI and intend to submit them to both, Ministry of Finance and Ministry of Shipping within few days. Our nationwide protest against this Draconian and frustrating tax proposal is going to escalate in various forms across the country in the days to come," said NUSI General Secretary, Abdulgani Serang.

The statement said a joint delegation of MUI and NUSI is likely to meet Finance Minister, Nirmala Sitharaman and Shipping Minister, Mansukh Mandavia to hand over the protest letters signed by Indian seafarers. MUI General Secretary, Amar Singh Thakur said, "such a tax proposal is going to retard the growth of Indian ship-manning sector as henceforth attracting young Indians to join merchant navy will be extremely difficult. Until now, merchant navy personnel enjoyed benefits similar to non-resident Indians and did not pay taxes in India." PTI NAM DRR

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION / BLOG / INTERVIEW

Education post-coronavirus: Schools to rush for more digitalization

Digital education would undoubtedly boom in the post-coronavirus world, supported by educational institutions that have discovered its efficiency during the crisis, but it is still not expected to outshine traditional classroom learning....

Public health care post-COVID 19 to go for revamping, not rebooting

Until now, the economies used to classify healthcare sector under social expenditure. However, the devastation caused by COVID 19 pandemic has upgraded public healthcare on topmost priority and core economic activity for controlling future ...

Coronavirus lockdowns to speed up long-pending revamping of supply chains

With millions of production lines impacted, business disruptions to some extent are unavoidable and the lessons learned from this turbulence will leave an everlasting impact on both global and local levels of supply chains....

Videos

Latest News

Rent strike idea gaining steam during coronavirus crisis

With millions of people suddenly out of work and rent due at the first of the month, some tenants are vowing to go on a rent strike until the coronavirus pandemic subsides. New York, Boston, Los Angeles, San Francisco and St. Louis are amon...

Cops warn against false info on COVID-19 on April Fool's Day

Police on Monday asked people in Pune district of Maharashtra not to spread rumours or false information regarding coronavirus in the name of April Fools Day jokes or pranks on social media. The Pune rural police have issued a notification ...

U.S. expected to renew sanctions waivers allowing Iran nonproliferation work

The United States is expected to allow Russian, Chinese and European companies to continue their work at Iranian nuclear sites to make it harder for Tehran to develop nuclear weapons, four sources familiar with the matter said on Monday.The...

COVID-19 hospitalizations double in four days in California - governor

California Governor Gavin Newsom said on Monday that the number of COVID-19 hospitalizations in the state had doubled over the past four days, and the number of ICU patients tripled during that time.He did not immediately give figures for t...

Give Feedback