India asks US to exempt Indian professionals from social security tax

24 Jun 2011 Evaluate

The Indian government asked United States (US) to make progress on the Bilateral Totalisation Agreement (BTA) which would exempt Indian professionals working in the United States from payment of security taxes to mitigate the impact of a visa fee increase last year. India and US are negotiating BTA which once singed, would benefit many Indians who are working in US and paying social security tax but not getting any benefit out of it. Under the BTA, professionals of both the countries would be exempted from social security taxes when they go to work for a short period in the other country.

At the event organized by the US India Business Council (USIBC) on June 23 in Washington DC, the subject which is important for Indian Information Technology Industry came up for discussion between Commerce and Industry Minister Anand Sharma, and William Daley , Chief of Staff in the US administration. As per the statement issued by Anand Sharma, stressed on the need to make progress on BTA and to mitigate the impact of discriminatory measures such as the Border Security Legislation and Zadrog bill enacted last year which would unfairly tax Indian companies.

Under the Zadrog bill, US had imposed 2% tax on the US government procurement from foreign companies and also extended the visa fee on certain categories of H1B and L1, by one more year from 2014 to 2015. Visa categories such as H1B and L1 are mostly used by Indian IT professionals to fund security measures along the US-Mexico border. This increase of visa fee has raised the great concern and anxiety in the $60 billion Indian IT industry, which get its 60% business from the US.

Anand Sharma, asked US firms to invest in sectors like Agriculture, Infrastructure and Agro-processing industry. Minister said there is requirement for investment to bring about the Second Green Revolution in India and to develop the agro-processing and food processing sectors.

Anand Sharma said India will be spending around $1 trillion on the development of infrastructure in the next Five Year Plan beginning in 2012. There are many gaps in the infrastructure which present opportunities for investment, especially in energy, roads and power. Minister also emphasized on the need to give strength to the ongoing technological collaboration between the two countries through institutional linkages and co-development of technologies. He also pointed out the opportunities available in India in the manufacturing sector, in pharmaceuticals, in research and development and in a number of other sectors.

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Fiduciary-first advisory model.
As SEBI-registered IAs, we are legally and ethically bound to act in the best interests of our clients. We do not sell or distribute any financial products. This ensures our guidance is 100% unbiased and conflict-free.
Deep fundamental research + robust valuation discipline.
Built on more than 15 years of equity research, our framework combines quality assessment, intrinsic value estimation, and a sensible margin-of-safety approach.
Process—not predictions.
We don’t rely on guesswork or market timing. Instead, we focus on asset allocation, risk management, and long-term compounding.
Technology + Human Intelligence.
We believe a combination of both is essential for investing success. We constantly innovate and upgrade in-house tools, financial X-rays, and portfolio analytics so that our team of analysts and advisors are equipped with the best.
Partner with Clients.
We follow a DIWM (Do-It-With-Me) approach where we partner clients in setting goals, financial planning, educating on our investing process and share decision-enabling resources transparently with our clients who retain control on execution.

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

Investing in stocks, mutual funds, debt, and gold
Quality-at-Reasonable-Price way of investing in stocks
Constructing Direct Stock Portfolios with Core, Booster, and Amplifier stocks
A Mutual Fund Portfolio that delivers consistent out-performance and meaningful diversification (low overlap)
Periodic review and rebalancing
Clear Buy-Sell-Hold, and Position-sizing frameworks

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
Logo:
Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.