Budget shocker: Modi govt proposes tax on non-taxpaying NRIs

News Network
February 1, 2020

New Delhi, Feb 1: The budget is a little more demanding of the non-resident Indian. Firstly, to be categorized a non-resident, an Indian now has to stay abroad for 240 days, against 182 previously. In other words, an Indian national, to claim the non-resident status, can’t stay in India for 120 days or more in a year.

“We've made changes in Income Tax Act where if an Indian citizen stays out of the country for more than 182 days, he becomes non-resident,” said Revenue Secy Ajay Bhushan Pandey. “Now in order to become non-resident, he has to stay out of the country for 240 days.”

The second rule is more deadly: a non-resident Indian, who is not taxed in the foreign country, will become taxable in India.

“If any Indian citizen is not a resident of any country in the world, he'll be deemed to be a resident of India and his worldwide income will be taxed,” said Pandey.

"It's a very big disadvantage for Indians residing overseas only to save on tax,"  said Dinesh Kanabar of Dhruva Advisors. He expects that many Indians stay abroad in countries, where the income tax is low or nil such as Dubai. Now they will be taxed in India if they are in the income tax bracket.

For Indians, finance minister Nirmala Sitharaman revised income tax rats and proposed new tax slabs.

The new income tax rates will, however, not allow exemptions under Section 80C. Home loan exemption, insurance exemptions, the standard deduction will also not stay under the regime.

"The new tax regime will be optional and the taxpayers will be given the choice to either remain in the old regime with exemptions and deductions or opt for the new reduced tax rate without those exemptions," Sitharaman said while unveiling Budget.

Comments

Kannadiga
 - 
Saturday, 1 Feb 2020

Good news NRIs vote for modi . 

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
July 21,2020

Bengaluru, Jul 21: Leader of Opposition and former Chief Minister of Karnataka Siddaramaiah on Monday attacked the ruling government and said press conference of Health Minister B Siramulu was more like an exercise to hide facts than presenting proof with accurate data.

"Got to know about the press conference addressed by B Siramulu and Dr Ashwathnarayan CN to clear accusations of corruption. It looked more like an exercise to hide facts than presenting proof with accurate data," Siddaramaiah tweeted.

"It is still unclear about the points presented in the press conference. They have not answered any of my questions which were raised earlier. I will respond in detail once I receive the written explanation from the govt. Minister has claimed that both Health & Medical education department together have spent Rs323 Cr. But the data presented by them does not even add up to Rs100 Cr. What happened to the rest of the money?," asked Siddaramaiah.

He said that Centre has procured ventilators at Rs4 lakh per unit under PM Cares. But only in our state, the ventilators are procured at Rs12-Rs18 lakh per unit

"Prime Minister's Office has procured ventilators at Rs4 lakh per unit under PM Cares. But only in our state, the ventilators are procured at Rs12-Rs18 lakh per unit. Why do we see such a huge difference in price? Ministers, in the press conference, have told that quality & technological capabilities are the reasons for huge price difference. Does it mean ventilators under PM Cares lack quality? Why did they not present the technical specifications to justify the same?" he asked.

"Not just about the procurement of medical equipment, I had even asked data about food kits, PDS distribution, beds procured, quarantine centres & isolation wards. Where is the data for that?" he asked in a series of tweets. 

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
coastaldigest.com news network
June 5,2020

Bengaluru, June 5: Under the leadership of trouble-shooter D K Shivakumar, the Karnataka Congress is planning a political ‘ghar wapsi’ to bring back leaders who quit the party and also rope in those from other parties.

Shivakumar, the Karnataka Pradesh Congress Committee (KPCC) president, has constituted a 12-member committee headed by former minister Allum Veerabhadrappa to liaise to anchor this effort to bring back people into the party fold. 

The committee comprises of former legislators B A Hasanabba, Ajaykumar Sarnaik, Abhaychandra Jain, Satish Sail, Prafulla Madhukar, former MPs R Dhruvanarayan and BN Chandrappa, MLA V Muniyappa, former mayor Sampath Raj, Mahila Congress leader Kripa Alva and former KPCC general secretary V Y Ghorpade. 

This move comes more than a year after over a dozen Congress MLAs defected and joined the BJP, leading to the collapse of the Congress-JD(S) coalition government. Also, several influential leaders quit the party ahead of the Lok Sabha elections last year.

The constitution of this committee also coincides with disgruntlement brewing within the ruling BJP. 

“Many people who left the party and others have applied (to join Congress). Many have met me also. I felt it wouldn't be right for me to make a decision. So, this committee has been constituted,” Shivakumar said. “They will process all applications and send it to the KPCC.” 

According to Shivakumar, any person wanting to join the Congress should accept the party’s leadership and its ideology. “Importantly, they should be first accepted by the cadre. If there's no acceptance from the cadre, then what's the point?” he said.

Comments

Abdullah
 - 
Saturday, 6 Jun 2020

should not vote them even if they return to congress. They are backstabbers of voters.

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 26,2020

New Delhi, Jan 26: On the occasion of the 71st Republic Day, Karnataka state's tableau depicted the philosophy of Basaveshwara and the concept of Anubhava Mantapa (Centre for Experience), which was the socio-religious centre that existed in the present-day Basava Kalyana of Bidar district in Karnataka.

It is regarded as the first religious parliament in the history of mankind.

This 12th-century centre has a special significance in the history of humanity, as it represents composite culture, philosophy, spirituality, equality among other universal human values.

These values were propagated by the saint and social reformer- Basaveshwara and other sharanas- followers of Basava philosophy of the socio-religious movement.

It is significant that representatives of Anubhava Mantapa were nominated based on their spiritual attainment, regardless of caste, class and sect they belonged and thus discarded the differentiation of human beings as higher or lower, on the basis of birth, occupation and gender.

The front part of the tableau has the replica of Basaveshwara preaching his most cherished value - "Work is Worship".

For Republic Day Parade 2020, a total of 56 tableaux proposals (32 from states/UTs and 24 from Ministries/Departments) were received. Out of these, 22 were shortlisted for participation in the Republic Day Parade 2020.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.