Tax problems of non-resident Indians repatriated from Kuwait - Income Tax - 604/1991

Tax problems of non-resident Indians repatriated from Kuwait Circular No. 604 Dated 11/6/1991 By Circular No.590 dated 30-1-1991 (See [1991] 187 ITR (St.) 144), Indian nationals normally resident in Kuwait who were forced to return to India because of the Iraqi invasion, were made eligible for exemption under section 10(4)(ii) of the Income-tax Act in respect of their NRE/FCNR accounts maintained by them up to 31st March, 1991. 2. With the cessation of hostilities in the Gulf and with a view to facilitate the Kuwait NRIs to return to Kuwait, Reserve Bank of India has now decided to permit them to continue to maintain their NRE/FCNR accounts in banks in India and to maintain their foreign currency accounts and assets abroad for a further period up to 30th June, 1991. 3. Taking into account the above mentioned factors, it is clarified that individuals normally resident in Kuwait and returning to India after 2nd August, 1990, would now be eligible for exemption under section 10(4)(ii) of the Income-tax Act in respect of such accounts maintained up to 30th June, 1991. (Sd.) K.K. Sultan, Director (TPL II)