We all are aware of Shah Rukh Khan's plush villa in Dubai. Although we have never been able to get a glimpse of what it looks like, knowing his taste, it definitely seems to be a dream home. But looks like he will have to pay tax for it in India. Here’s a little law that you’ll have to deal with now because there are going to be jargons about why it is imperative for him to pay the tax here in India.
The Income-tax Appellate Tribunal (ITAT) has formed a new rule that all citizens of India, who have a residence outside the country, will have to file it in their tax returns here. This means that the Dubai villa of Khan will be taxed in India as notional rent. Earlier, the rule from the ITAT was that they might be taxed for their properties in UAE, under the India-UAE treaty. The tax for the same property will be payed in the said country and it won’t be filed in India, for returns.
Goa Chief Minister Manohar Parrikar has to prove majority in the Goa Assembly today. He stepped down as the Defence Minister to return as the chief minister on Tuesday. Parrikar enjoys the support of 22 MLAs, two more than the halfway mark of 20 in the 40-member Assembly.
The Congress has been crying foul as despite being the single-largest party in the Assembly it failed to cobble up the support of non-BJP MLAs, following which Governor Mridula Sinha gave the BJP the first go at government formation.