Saturday, June 25, 2011

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  • acecupid
    09-06 08:33 PM
    Read something interesting on TOI..

    NRIs treated as Not Required Indians! - India - NEWS - The Times of India (http://timesofindia.indiatimes.com/news/india/NRIs-treated-as-Not-Required-Indians/articleshow/4979439.cms)

    Indubhai Amin, a non-resident Indian (NRI) settled in the UK earns interest income of Rs 3 lakh on his non-resident ordinary account bank deposit in
    India in the current FY 2009-10. Enjoying his personal exemption limit of Rs 1.60 lakh and the eligible deduction of Rs 1 lakh u/s 80C, Amin is comfortable paying income tax of Rs 4,000 in the first slab of 10 per cent on his effective taxable income of Rs 40,000.

    Flat tax of 20% and 30%

    A huge shock awaits Amin and millions of NRIs, in regard to taxation of their interest and investment income and capital gains earned in India, proposed to be treated under the draft Direct Tax Code as "income from special sources."

    In 2011-12, on the same interest income of Rs 3 lakh, Amin will be required to pay a hefty tax of Rs 60,000 at the flat rate of 20 per cent, without being eligible to claim any basic exemption or other deduction, as provided under rule three of the First Schedule to the Code.

    Moreover, all capital gains earned by a non-resident will attract a flat tax of 30 per cent, irrespective of the amount of capital gains. While a resident Indian will be required to pay tax of Rs 3.84 lakh on his taxable income of Rs 25 lakh, an NRI earning equivalent capital gains will be called upon to pay almost double tax of Rs 7.5 lakh.

    Hair-raising drafting

    New section 13 (2) provides that such �special income� shall be computed in accordance with the provisions of the Ninth Schedule, the drafting of which is literally hair-raising. It provides that the amount of accrual or receipt shall be computed as the taxable income, and no loss, allowance or deduction shall be allowed, as the same shall be presumed to have been granted. The only exception in this regard, in respect of capital gains arising from the transfer of equity shares or units of equity oriented mutual fund chargeable to STT, is quite amusing, as it stands redundant in view of the proposal to abolish STT (a classic instance of incoherent drafting).

    The draftsman does not seem to have realized the harsh implications. It means that if an NRI sells a capital asset purchased for Rs 10 lakh at Rs 30 lakh, he will be required to pay tax of Rs 9 lakh at 30 per cent on the gross sale consideration of Rs 30 lakh without any deduction even for the cost of acquisition of Rs 10 lakh (not to mention any benefit of indexation on the same).

    Determination of residential status

    The residential status of an individual under the Code is proposed to be determined as per the current norms. However, the status of "not ordinarily resident" (NOR) is proposed to be eliminated. Despite the above, Clause 24 of the Sixth Schedule has still provided for exemption in respect of interest earned on foreign currency deposits in the case of NOR. Poor drafting indeed!

    The Code has proposed to retain the current exemptions availed by a non-resident in case of interest earned on NRE and FCNR deposits with banks.

    Special exemption for returning NRIs

    A useful exemption has been provided in case of income earned outside India, if it is not derived from a business controlled from India, in the financial year in which the returning NRI becomes an Indian resident and the immediately succeeding financial year. However, the benefit of the said exemption would be available, only if such individual was a non-resident for nine years immediately preceding the financial year in which he becomes a resident.

    Wealth-tax liability for NRIs

    Proposed Section 102 of the Code provides for wealth tax liability in the case of the value of all global assets of an individual or HUF. However, an exemption has been provided in case of the value of assets located outside India in case of an individual who is not a citizen of India or an individual or HUF not resident in India. Hence, while returning NRIs who are non-citizens will enjoy wealth-tax exemption for their overseas assets, NRIs with Indian citizenship becoming residents will attract wealth-tax liability on such assets held abroad.

    Illogical exemption under wealth-tax

    Talking about wealth tax, the Code prescribes an exemption in respect of any house or plot of land belonging to an individual or HUF, if it is acquired before April 1, 2000. It is difficult to understand the logic as to why this exemption has been denied in all cases where such immovable property is acquired after March 31, 2000!

    Proposals That Will Hurt the Global Indian Sentiment

    Flat Rate of Tax

    20% flat tax on interest & other investment income
    30% flat tax on all capital gains
    Apart from 20% & 30% TDS on above, TDS at a baffling rate of 35% prescribed on all residual income

    No Personal Exemption

    No personal exemption or deduction allowed in computing the above income treated as �income from special sources�.

    Weird Interpretation

    Poor drafting leads to such a weird interpretation that transfer of a capital asset may attract 30% tax on gross sale consideration.

    What Discrimination!

    Ironical but true! Non-Indian sportspersons, say Ricky Ponting or Shoaib Akhtar, required to pay a concessional tax of 10% on their game, advertisement and column earnings in India, thus enjoying a more privileged tax status than our own sons of the soil living abroad.





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  • Norristown
    11-14 04:27 PM
    Currently job market is little bit tight. Employers are asking for GC or citizenship.
    By the time we seek perm job, EAD shows only remaining 6 months validity. That might scare some employers. Employers pay more for contractors than employees. So I see you mau get small hike in salary...





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  • sanjay
    02-02 12:03 PM
    `Sec. 245B. (a) In General- The Secretary of Homeland Security may adjust the status of an alien to that of an alien lawfully admitted for permanent residence if the alien--
    `(1) was physically present in the United States for a continuous period of not less than 5 years immediately preceding the date on which this provision was enacted and has maintained continuous physical presence since then;

    Any thoughts???

    Assume:

    This mean from the date this bill gets enacted, one should stay in USA for five years continuously.

    It's impossible, atleast for me. I can't even think that I won't be able to go to India for 5 years. It would be a torture on my soul. This kind of clause works for an un-documented immigrant, who don't have a choice to leave but not for legal immigrant.

    What my company tell me to go to another country say some Brazil to implement project and infrastructure and I had to stay 2 months? Then I have to start afresh ?





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  • dealsnet
    09-08 10:23 AM
    Call and post your experience.

    Free is always good.



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  • raysaikat
    01-20 07:47 PM
    According to federal law, if you've had coverage for 6 months prior to changing your coverage to the new insurance, they can't refuse to cover pre existing conditions. They may try, I just had to fight this out with CIGNA. They lost. However if you let your coverage lapse, you can get hit with this.

    If you are talking about HIPAA, then that generally applies to group plans (offered by your employer), not individual plans that we are talking about in this thread.





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  • s416504
    02-03 10:04 AM
    I asked same question to my lawyer 2 days ago & he said "YES". One can request to consider for multiple categories by reapplying I140 again. Lates USCIS's Q&A confirms that...

    Q #3. What if the petitioner wants to request consideration of multiple visa categories on behalf of an alien beneficiary? [Answer Finalized on 06/30/09]

    A. If you want to classify the alien beneficiary under multiple visa preference categories, file a separate Form I-140 petition, with the required fee and supporting documentation for each requested visa category.

    As far as your labor qualifies for EB2, you are OK.

    USCIS - Petition Filing and Processing Procedures for Form I-140, Immigrant Petition for Alien Worker (http://www.uscis.gov/portal/site/uscis/menuitem.5af9bb95919f35e66f614176543f6d1a/?vgnextoid=cfe8745543256210VgnVCM100000082ca60aRCR D&vgnextchannel=68439c7755cb9010VgnVCM10000045f3d6a1 RCRD)

    I have a labor approved for the requirement:
    "Must have BS in CS, EE or related field w/5 years of related experience"

    EB3 I-140 was approved in 2008. Can I re-apply for EB2 I-140 using the same labor?

    Please note I have BS in CS and had more than 5 yrs of expereince before joining my current employer. I have not changed my employer - EB3 is also from the same employer.



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  • bajrangbali
    03-31 11:27 AM
    Congratulations..your long wait is over..:)





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  • forgerator
    09-05 05:18 PM
    EB3 India se pehle EB3 ROW ka number aye ga ... maybe even before EB2 I :D



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  • indyanguy
    07-31 11:17 AM
    You are not. EAD is basically for spouse. Primary applicant need to be careful on using EAD.

    When you say careful, what do you think needs to be avoided? What are the dos and dont's of a primary applicant who wants to use their EAD?





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  • stirfries
    12-02 01:27 PM
    Thanks SS777 !!!

    I am optimistic as well !!! I am just hoping that I receive the documents by end of this week !

    But at the same time, I wouldn't want to sit idle, just hoping !!! :)

    I am going to try whatever options that might be available, to speed up the document receipt, if it is possible !!!

    Probably, I can set up an appointment with InfoPass, sometime next week, and see what they have to say about this...

    The scary part is, I have read several posts by other users who had reported the loss of document once it has been mailed out by USCIS. I hope I do not fall into that category and I want to be aware of the next course of action, if indeed, I fall into that category.

    Cancelling my Tickets is the last option that I have in my mind !!!

    The things that we have to go through to get a GC !!!! :)

    My attorney finally received the AP documents on hand, 16 days after the online status had changed to "Document Production or Oath Ceremony".

    At least, now I don't have to think about postponing my Tickets !!!

    Hope it works out for all you folks !!!

    Good Luck !!!

    Thanks,



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  • gcphul
    12-14 03:14 PM
    Hi Sam,Munnabhai

    Yes i am planning to start fresh GC and h1-extensio, The reason i am expecting to reject bcoz mine LC-sub and on top of 1,2,3 Mentioned RFE's. Case me Dham Nahi hai.





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  • pappu
    05-12 08:31 AM
    It may be a good idea for people like me who cannot make it to the event to call in to this event.

    can we have some kind of confrence call number we can call and listen to the speakers?



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  • Honda
    09-05 03:59 PM
    You need to wait another 5 years to get your GC. That's my prediction.





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  • USDream2Dust
    07-27 01:20 PM
    I am liking the answers. Also looks like my PD is sept 2006 and it would be a while before they approve my case. Meaning I can take off for couple of month go on vacation, come back, look for job, find a decent job and start working.

    when in far future they approve me I need a letter from my new employer stating that I am working (not from original employer right?)



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  • h1b_tristate
    07-27 11:22 PM
    ^





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  • americandesi
    08-11 05:39 PM
    That is not a flaw in the system and in the USCIS manual, they know it. Since the previous I-140 is already approved and you've stayed more than 6 months in that I-140, then there's no need for the ability to pay. USCIS is treating your case as if you already have a GC, it is just that it is pending.

    If one has a GC, he can transfer to another employer. It is your risk if your new employer has not the ability to pay you. The same is true with portability, USCIS doesn't care anymore if you transfer to an employer with no ability to pay you because the first I-140 is already approved and you worked for it already. They are concerned now about your I-485 (AOS) and your qualifications under it.

    What you say holds good only if employer A had already paid the proffered wage during those 6 months.

    Suppose employer A is currently paying 70K and the wage for the proposed GC position is 80K and if employer A is able to prove that his Net Income or Net Assets is >=80K then it’s sufficient to prove ability to pay. In such a case, he is bound to pay 80K only after I-485 approval.

    Going by above, the employee wasn’t paid 80K at anytime. Even then, USCIS approves his I-485 if he is able to provide an offer letter from employer C with similar roles, responsibilities and wage as the proposed GC position with Company A, though the abilty to pay 80K by employer C is in question.



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  • jy1021
    02-12 10:35 PM
    I am holding H-4 visa, last week, I made an appointment in Ottawa consulate so I want to get my H4 before I go.

    My wife's H-1 and my H-4 filed together, so I called the lawyer, we paid $1000 premium fee, it was paid on Friday, both H-1 and H-4 got certified on Monday (it only takes 1 day compared with 3 months).

    Once you file premium for H-1, H-4 will get premium. but if you file them separately (in different time), then you can not do it this way.

    Good luck.





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  • Ψ
    06-05 10:19 PM
    arrite heres my serve ............in my opininon it looks pretty good...http://img62.photobucket.com/albums/v188/_azzy_/goodvsevil_copy.jpg





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  • Aah_GC
    07-25 03:00 PM
    It depends on what is being asked for. Try to tell your employer that you might need an EVL (Employer Verification letter) that basically puts your start date, responsibilities and has HR Contact information.

    Make sure you keep the paystubs of your previous employer through the 180 days of your 485 app pending. Get a releiving letter and try to be on good terms with your ex. It helps.





    styrum
    03-04 07:01 PM
    It's not like he suddenly realized something. The only reason they changed the policy is that they got sued. Period! :mad: They continue the sabotage with processing dates going backward (which is never supposed to happen!), etc, because they feel no threat to their well-being.





    Dhundhun
    03-17 03:14 PM
    Thanks. I'll try SSN based on AOS. If they refuse, I'll get EAD for my wife.



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