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The merger of <keyword id="392684" type="UNKNOWN" weightage="80" keywordseo="Persons-of-Indian-Origin">Persons of Indian Origin</keyword> (PIO) and <keyword id="392685" type="UNKNOWN" weightage="80" keywordseo="Overseas-Citizens-of-India">Overseas Citizens of India</keyword> (OCI) schemes announced by Prime Minister <keyword id="6354477" type="PERSON" weightage="80" keywordseo="Narendra-Modi">Narendra Modi</keyword> is turning out to be a confusing exercise at embassies abroad. 
 
A top home ministry official told Economic Times that the ministry has now "advised" the foreign ministry that PIO card holders should get their cards converted to machine friendly OCI cards at a nominal fee as the existing PIO document - which is a paper document - will not be compatible with the card reading machines to be installed soon at Indian airports soon. 
 
"We have advised that PIO cardholders apply and get their cards changed to OCI at the respective embassies so that they do not face any difficulty as authorities in different countries or Indian immigration ports may be confused regarding the PIO-OCI merger," the top ministry official told the financial daily. 
 
As per the Citizenship Amendment Bill, 2015, all PIO card holders "are deemed" to be OCI card holders with effect from January 9, 2015. 
But it did not point out that the cards will need to be changed. 
 
The officials in the foreign ministry cite lack of homework on part of the home ministry as one of the reasons has led to the issues, and are thereby creating confusion at Indian embassies abroad. 
 
"We may issue FAQs (frequently asked questions) soon to clear the air," the top home ministry official told ET as the embassies have been inundated with complaints due to lack of clarity on the issue. 
 
The official told the financial daily the home ministry has scrapped its earlier order that said all PIOs must convert their cards to OCI within three months and the deadline of April 9 has been extended indefinitely. 
 
ET reported that the Indian embassy in France first issued an order saying that with effect from April 8 it is mandatory to replace PIO cards with OCI cards. But it has now modified this saying, "it has now been decided by the Ministry of Home Affairs that PIO will be valid beyond April 8 till further instructions, but PIO holders should apply for OCI cards in lieu of PIO cards.” 
 
(Image: Reuters)

PIO-OCI merger: What aimed to simplify NRIs life has added more to complexity

We have some good news for <a href="http://www.businessinsider.in/searchresult.cms?query=NRI">Non Resident Indians (NRIs)</a>, who are yet fidgeting over new policies that the Modi-government has introduced, can claim tax benefits as per the <a href="http://www.businessinsider.in/searchresult.cms?query=DTAA">Double Taxation Avoidance Agreement (DTAA)</a>. This agreement fundamentally happens between two countries to help their citizens avoid tax related hazards. 
 As per an Economic Times report, India has signed the <keyword id="96355" type="ORGANIZATION" weightage="20" keywordseo="DTAA">DTAA</keyword> with several countries. As per the agreement, the provision of the <a href="http://www.businessinsider.in/searchresult.cms?query=income+tax">Income Tax </a>applies to the assessee to an extent they provide maximum benefits to him during the assessment. Provisions of the DTAA prevail over the statutory provisions. <keyword id="58225" type="ORGANIZATION" weightage="20" keywordseo="NRIs">NRIs</keyword> residing in any of the DTAA countries can avail of tax benefits provided under DTAA by timely submission of the following documents. 
 
<keyword id="896047" type="UNKNOWN" weightage="20" keywordseo="Tax-Residency-Certificate">Tax residency certificate</keyword> (TRC): The Tax Residency Certificate (TRC) can be obtained from the government of the country where the NRI resides. The mandatory information for TRC is the name, status (individual, company, firm etc), address, nationality, country, tax identification number of the person in that country, tax status and period for which the tax certificate is issued. The TRC containing details mentioned above should be duly verified by the government of the country or the specified territory of which the NRI claims to be a resident for the purposes of tax. 
 
If the TRC is not submitted within the timeline required by the deductor, the deductor (eg. Bank) will deduct tax on NRO deposits at the presently applicable rate of 30.9%. 
 
Self declaration-cum-indemnity form: This form is to be submitted in the format prescribed by the particular bank. Information such as account number, country of residence, period for which TRC is submitted, tax rate applicable under DTAA needs to be mentioned in the form. 
 
Other documents: The NRI is required to submit a self attested copy of PAN card, passport and visa. If the passport has been renewed during the financial year, a copy of PIO card will also have to be submitted. 
 
 Image: indiatimes

NRIs, here’s how you can claim tax benefits under DTAA

In a bid to strengthen the ties between India and the US, the Indian government plans to issue visa-on-arrival for tourists from the US soon. Indian Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> had made several announcements regarding the consular and visa issues at Madison Square Garden in New York City in the US. Now it’s time when we can expect some action to materialize the plans that were shared. 
		“Systems are in place to introduce visa on arrival for US tourists in October itself,” said the Prime Minister Office in a statement. 
	
		 Industry experts feel that the move will give a tremendous boost tourism industry in the country. “Extension of the Visa-on-Arrival facility to is an excellent step taken forward by India, and will certainly give a big fillip to inbound tourism, which is languishing far below its potential considering the diversity of experiences that India offers,” said <keyword id="332366" type="PERSON" weightage="20" keywordseo="Sharat-Dhall">Sharat Dhall</keyword>, president of <keyword id="143718" type="COMPANY" weightage="20" keywordseo="Yatra-com">Yatra.com</keyword>, an online travel portal, sometime back. 
		He had added that visa on arrival will allow travellers from the US to do impulse travelling to India and open up the country to tourists who decide at the last minute. “In addition, the proposal to allow travellers to apply for visas online and receive the electronic visa within 5 days, eases up the entire process of travelling to India. Arising out of this welcome step, we expect this to significantly boost demand for hotels, flights and land transport within India and act as a catalyst to economic growth as well,” noted Dhall. 
	
		 
		Interestingly, tourists from the US have accounted for a major portion of the inbound tourism in the country. According to the statistics by the tourism ministry, the foreign tourist arrival (FTA) from USA was over 10 lakh in 2013 registering a growth of 15.58% over 2012. 
	
		 Apart from issuing visa on arrival, the government will also issue lifelong <keyword id="49485" type="ORGANIZATION" weightage="20" keywordseo="PIO">PIO</keyword> (Person of Indian Origin) cards to Indian NRIs living in the US. 
		“All PIO cards are now valid for the lifetime of the cardholder, instead of 15 years. This effectively fulfils the Prime Minister's announcement that PIO cardholders would enjoy a lifelong visa to India,” stated the PM’s office. The PIO cardholders wouldn’t be required to visit a police station even when their India visit exceeds 180 days.

Visa On Arrival Plan For US Tourists To
Materialize By October End

Amid the loud chants of “Modi, Modi” at <keyword id="8953" type="UNKNOWN" weightage="80" keywordseo="Madison-Square-Garden">Madison Square Garden</keyword> (MSG), India’s new <keyword id="71" type="POSITION" weightage="20" keywordseo="Prime-Minister">Prime Minister</keyword> <keyword id="6354477" type="PERSON" weightage="80" keywordseo="Narendra-Modi">Narendra Modi</keyword>, who is currently on a five-day visit to the US, addressed a gathering of thousands of people on Sunday. 
 
The Prime Minister received a warm welcome by a large population of India-American, inspired by Modi’s rags-to-riches story, along with a group of Senators. 
 The event did not restrict to the boundaries of the MSG as many NRIs also gathered at <keyword id="67784" type="ENTERTAINMENT" weightage="20" keywordseo="Times-Square">Times Square</keyword> to watch the Prime Ministers speech live, which was broadcast on a big screen there. Notably, Indian-Americans make up the third-largest Asian-American group in the US and lead these groups in terms of income and education, according to Pew Research Centre. 
 
At Business Insider India, we decided to bring some of the highlights of the much-awaited speech of Prime Minister Narendra Modi, which he delivered at the MSG. 
 
NaMo Greets Indian-Americans On Navratri 
Greeting people on the auspicious occasion of Navratri, Narendra Modi said that it is a phase to make yourself pure. 
 
"Navratri is the time to purify the self. The fact that I got to meet all of you during this auspicious time is my privilege," he told a rapturously cheering Indian diaspora at the MSG. 
 
Will Never Do Anything To Put You Down: PM 
At the MSG, Prime Minister Narendra Modi said that winning elections is not for sitting on a seat but a responsibility, noting that he hasn’t even taken a 15-minute break since taking over the helm of the country. 
 
Indians Create Magic With Mouse: Modi 
Prime Minister Narendra Modi once again stressed that India was once known as a world of snake charmers, now with help of 'mouse' the people of the country have woven magic in the world of information and technology (IT). 
 
"I was in Taiwan some years ago; someone wanted to ask a question and was hesitating. He asked if I won't feel bad, I said go ahead. He said I heard India is a land of black magic and snake charmers. I said no, our forefathers maybe would play with snakes but we play with the (computer) mouse," he said in his address. 
 
Modi Praises Success Of India's Mangalyaan Speaking of the ISRO's <keyword id="6625456" type="ORGANIZATION" weightage="20" keywordseo="Mars-Orbiter-Mission">Mars Orbiter Mission</keyword> (MOM), the Prime Minister said, "India is the first country in the world that has had a successful Mars mission in the first try. We reached Mars in a 
smaller budget than that of a Bollywood film. That is the talent of our country." 
 
PM Calls For ‘Make in India’ In a bid to boost up the <keyword id="6356076" type="UNKNOWN" weightage="80" keywordseo="indian-economy">Indian economy</keyword>, Prime Minister Narendra Modi invited the Indian-Americans and other US citizens to invest in India. 
 
“If you want human resources and low-cost production, then India is your destination. I invite you to the Make in India initiative,” he said 
 
Modi Announces Visa On Arrival 
Prime Minister Narendra Modi announced that PIO card holders, who have faced visa issues, will get lifelong visas. He said, "Those who stay in India for a long time have to go to the police station, now they won't have to." 
 
"I have been told that due to differences between PIO and OCI people face difficulties, especially those who have spouses who are not Indians. I am happy to announce that we will merge the PIO and OCI schemes and make it into one," he added. 
 
I Will Make Bharat Of Your Dreams: Modi 
Concluding his hour-long address, Narendra Modi thanked the 20,000-strong gathering gathered at the MSG for their love. 
 
"You have so much love for me, probably no other Indian leader has received this kind of love... Mein iska karz chukaoonga (I shall repay this debt), to make the Bharat of your dreams," Modi said amidst the loud chant of "Modi, Modi". 
(Image: FB page of Prime Minister Narendra Modi)

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PIO-OCI merger: What aimed to simplify NRIs life has added more to complexity

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NRIs, here’s how you can claim tax benefits under DTAA

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Visa On Arrival Plan For US Tourists To Materialize By October End

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NaMo Fever Grips Indian-Americans At Madison Square

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