C'da, I think in essence, what you say is fair.
> Would they NOT get more privileges than the 'resident-citizens', the second > >class folks, like Prof. Bhagavati speculated? But, lets look at the reasons why NRIs may want the dual citizenships(DC): To invest Claims to property left in the desh. (I am sure how much one can hold right now - the issue probably has more to with business property as opposed to the 1 -kotha land from my grandfather) To visit when & whenever (without let or visa :-)) And to settle down permanently(and visit US also to keep a presence) in India, after retirement in this country & collect social security, if at all anything is left. Remotely, there may even be a Bobby Jindal running for office as a BJP in Bihar. In order to visit, a DC is not required. The 10-year visa ought to enough. The other two main reasons will affect many NRI. Many I have spoken to want to retire in India in quiet, quaint place. Those in business are probably the most worried, and want the best they can get out of India. The GOI (that old ogre! ) is also in a fix. On the on hand it would like to tax NRIs (good source of income), but on the other, it wants to attract new business, technocrats, millionaires, and the almight $. It cannot just thumb its nose, and not pamper these NRIs. Examples of InfoSys, Tatas etc, has shown them that tax or no tax, NRI bring $ and lots of it. Right now, it seems India still needs these NRIs. But a time may soon come, when NRIs are not that coveted. >That would be a highly un_Indian >thing to expect, wouldn't you think :-). Hmmm!, I don't know. We could, in fact, extend that logic to any NRI/NRA who has settled down here. Is is un-Assamese to have left the shores of the Luit to come here permanently? Why did we not just stay there? I just don't know C'da. I try to think, but nothing happens :-). --Ram On Thu, 24 Feb 2005 16:12:39 -0600, Chan Mahanta <[EMAIL PROTECTED]> wrote: > > >I think there is no tax on foreign > >income, if they have been already taxed in the foreign country. > > Not true Ram. I remember my very first income tax return in this > country being challenged by the California Dept. of Revenue for not > declaring foreign income. > That was when I made $ 2.50 per hour, for five months of the year 1970. > > I am not sure exactly how much one pays or on what income, but there > IS indeed tax on foreign income. > > Whether one pays taxes on the same income TWICE is the issue in question. > > Now if a person is enjoying the privileges of being citizens of two > countries, then it would only be reasonable to pay taxes in both, > wouldn't you think? > > What do you think are the chances of that happening however for NRIs > in India, I mean having to pay taxes in India too? This is one of the > most privileged groups of people there is, and includes the scions > of the WHOs WHO of the country. Would they NOT get more privileges > than the 'resident-citizens', the second class folks, like Prof. > Bhagavati speculated? That would be a highly un_Indian thing to > expect, wouldn't you think :-). > > c-da > > > At 3:55 PM -0600 2/24/05, Ram Sarangapani wrote: > >C'da, > >> The only fair thing to do. Citizenship does indeed carry > >> responsibilities, not just the privileges. > >> > > > >I agree, but what about the posssibility of being taxed twice - once > >here and once there? In the US, I think there is no tax on foreign > >income, if they have been already taxed in the foreign country. > > > >I sense, even though, this is only fair that people be taxed, many > >people would not really want a dual citizenship, if that would entail, > >going thru tons of paper work here and then again there. Many in fact, > >are not interested because of the high fees charged for a dual > >citizenship - ie. most are satisfied with the 10-year no hassle visa > >to India. They are not even going for the much touted PIO cards > >(person of Indian origin). > > > >--Ram > > > > > > > >On Thu, 24 Feb 2005 14:47:46 -0600, Chan Mahanta <[EMAIL PROTECTED]> wrote: > >> The only fair thing to do. Citizenship does indeed carry > >> responsibilities, not just the privileges. > >> > >> > >> At 1:43 PM -0600 2/24/05, Ram Sarangapani wrote: > >> >http://timesofindia.indiatimes.com/articleshow/msid-1031385,curpg-2.cms > >> > > >> >For those who are toying with the idea of dual citizenship, this is > >> >something for you. > >> > > >> >--Ram > >> >_______________________________________________ > >> >Assam mailing list > >> >[email protected] > >> >http://pikespeak.uccs.edu/mailman/listinfo/assam > >> > > >> >Mailing list FAQ: > >> >http://pikespeak.uccs.edu/assam/assam-faq.html > >> >To unsubscribe or change options: > >> >http://pikespeak.uccs.edu/mailman/options/assam > >> > >> > > _______________________________________________ Assam mailing list [email protected] http://pikespeak.uccs.edu/mailman/listinfo/assam Mailing list FAQ: http://pikespeak.uccs.edu/assam/assam-faq.html To unsubscribe or change options: http://pikespeak.uccs.edu/mailman/options/assam
