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.

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Kannadiga
 - 
Saturday, 1 Feb 2020

Good news NRIs vote for modi . 

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News Network
April 17,2020

Madikeri, Apr 17: A person who had returned from Spain in March was subjected to home quarantine on Thursday in Sowarpet in Kodagu district.

The person had arrived at Bengaluru on March 16 and went to Balele. Yesterday, he came to his estate house in Kumburu village in Somwarpet.

Availing the information, Tahsildar Govindaraju, police officials and health department staff visited the spot and gathered the necessary information.

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News Network
March 6,2020

Bengaluru, Mar 6: At least 13 persons, including women and children, were killed and five critically wounded when an SUV collided with a car that had crashed against a road divider moments ago near Kunigal in Tumakuru district of Karnataka in the early hours of Friday, police said.

Of the victims, while 12 died on the spot, a child breathed his last in a hospital, they added.

The injured were admitted to the hospital, the police said.

Among the dead, 10 were from Tamil Nadu and three from Bengaluru. All of them were pilgrims who were on their way to Dharmasthala in Karnataka.

There were five women and two children among the dead, the police said.

"Thirteen persons have died. The incident occurred post midnight. A car crashed against the road divider and another car collided with it," Tumakuru Superintendent of Police (SP) K Vamsi Krishna said.

The police had to struggle to pull the bodies out from the mangled vehicles.

On learning about the incident, relatives of the victims rushed to the spot.

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News Network
January 30,2020

Jan 30: One positive case of novel coronavirus has been found in Kerala. The student was studying at Wuhan University in China. The patient is stable and is being closely monitored.

This is the first case of coronavirus that has been reported in India.

Until now, there have only been many suspected cases across the country. A total of eight patients, five of them in Mumbai, are under observation in Maharashtra for suspected coronavirus infection. Six patients were already under observation and two more people, who complained of cough and mild fever, symptoms similar to the coronavirus, were put under medical watch on Tuesday evening.

One suspected case each has been reported in Rajasthan and Chandigarh.

Novel coronavirus (nCoV) is a large family of viruses that causes illnesses ranging from the common cold to acute respiratory syndromes. However, the virus that has so far killed 170 people and affected 7,000 in China is a novel strain and not seen before.

It has emerged from a seafood and animal market in Wuhan city and is suspected to have spread to as far as the United States.

According to the World Health Organisation, the common symptoms of the novel coronavirus strain include respiratory symptoms such as fever, cough, shortness of breath and breathing difficulties.

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