New Delhi: Though Union Finance Minister Arun Jaitley has announced plans to make it mandatory to file Income Tax (IT) returns, non-resident Indians (NRIs) will not need to rush to get Aadhaar (Indian biometric ID card) number immediately.
The central government has exempted NRIs from the requirement of quoting Aadhaar number while filing IT returns back home.
Although NRIs are exempted from income tax on their income abroad, they have to file tax returns for their income earned in India.
“NRIs will get exemption from the government to maintain status quo. Since companies too do not get an Aadhaar number, they too would be exempt from the new rules,” sources in the Ministry of External Affairs said.
According to the Income Tax Act, all residents of India have to file an annual statement of income earned.
“The proposed amendment in the Finance Bill says Aadhaar will be mandatory only for those who are ‘entitled’ to enrol under the scheme. Since NRIs and firms are not entitled to Aadhaar, they are outside the new provisions,” Jaitley said recently.
According to sources, the Finance Ministry is expected to come out with a release soon in this regard and clear confusion for NRIs.
