Afternoon D & C Dedicated To Mumbai
Home > Business & Investment > Seafarers get tax exemption from Ministry of Finance

Seafarers get tax exemption from Ministry of Finance

Monday, April 17, 2017
By A Business Reporter

Accepting the long-pending demand of India’s leading merchant navy Unions, The Maritime Union of India (MUI) and the National Union of Seafarers of India (NUSI); the Ministry of Finance, Government of India has finally granted income tax exemption to Indian seafarers sailing aboard foreign ships outside India for more than 182 days a year.

Through Circular No. 13/2017, signed by Subhash Jangala, Under Secretary, Department of Revenue, Central Board of Direct Taxes (CBDT); the Ministry of Finance has issued a clarification regarding liability to income-tax in India for a non-resident seafarer receiving remuneration in NRE (Non Resident External) account maintained with an Indian bank.

Amar Thakur, General Secretary, MUI, said, “This decision is a huge boost for over 1.3 lakh Indian seafarers, as tax-free income has always been an added attraction for Indian merchant navy workforce, which contributes around $40 million annually to our country’s exchequer.” “Income tax exemption to Indian seafarers will certainly strengthen the Centre’s ‘Maritime Agenda 2020’ aimed at increasing the global share of Indian seafarers to 9% from7% currently,” said NUSI General Secretary Abdulgani Serang.

A judgement delivered by the Kolkata income tax tribunal in August 2016 mandated Indian merchant navy workforce to pay taxes in India, which shattered the morale of Indian seafarers. Both, MUI and NUSI jointly challenged the tribunal’s decision in August 2016 in the Kolkata High Court through Messer Dave & Padvekar Associates and Advocates .

Thereafter, representatives of MUI and NUSI sought Centre’s intervention in the interest of Indian seafarers through a series of meetings in New Delhi with CBDT Chairman Sushil Chandra, Union Shipping Minister (Minster of State) Mansukh Mandavia and Union Finance Minister (Minister of State) Arjun Meghwal along with advocate R S Padvaker, Ex Judge ITAT and Member of Parliament (Lok Sabha) Gajendara Singh Shikhawat.

Facebook
COMMENTS
No Comments Posted
POST YOUR COMMENTS
Name:  
Email:    
Comments:
 
I am a 24-year old Muslim woman, married to a 26-
Dr. Rajan B. Bhonsle, M.D. (Bom)
Consulting Sex Therapist & Counsellor
Dr. (Mrs.) Minnu R. Bhonsle, Ph.D.
Consulting Psychotherapist & Counsellor
Astrology
Select Sun sign:
 
Aries (Mar 21 - Apr 20)
Aries (Mar 21 - Apr 20)You feel a bit bored with your circumstances. You will be jolted out of your complacence with news that you may have to do something which is not convenient right now. You should not take changes around you personally. Do not jump to any conclusions but wait for an explanation. Money matters are cause for differences with your mate which disturb harmony at home. Interfering relatives will add to your woes.
- Advertising -
Read More