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
January 1,2020

Belgaum, Jan 1: Police detained a group of around eight people who were allegedly trying to hoist 'Uttara Karnataka flag' in Hire Bagewadi area here on Wednesday.

This comes amid tensions between Karnataka and neighbouring Maharashtra over the border issue with protests on both sides, which have also led to the cancellation of bus services between the two states.

Protesters in Belagavi burnt an effigy of Maharashtra Chief Minister Uddhav Thackeray, following which Shiv Sena workers had launched a protest near the Kolhapur bus stand on Sunday, and burnt an effigy of Karnataka Chief Minister BS Yediyurappa.

The long-standing border dispute between the two states over is pending before the Supreme Court for several years.

On December 7, Thackeray had chaired a high-level meeting over the border dispute between two states. It was decided in the meeting that attempts will be made to get fast track hearing in Supreme Court on the issue.

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.
News Network
January 15,2020

Bengaluru, Jan 15: Srishti Institute of Art, Design and Technology in Bengaluru has decided to remain shut for two days after a group of BJP workers wiped out graffiti on its outer walls claiming it as anti-Modi and allegedly warned them against any anti CAA agitation there.

According to sources, the group led by Yelahanka MLA S R Vishwanath allegedly even towed away some vehicles of students and faculty parked in front of the institute alleging that they were blocking the road and causing inconvenience to the local people.

Some students have alleged that they were threatened by BJP workers and also the institute's authorities regarding the graffiti and the blocking of the road using traffic police.

They even claimed that BJP workers warned them against organising any anti-NRC or CAA protests.

A few local residents are also said to have joined the BJP workers and raised complaints about the conduct of the institute's students.

According to local BJP workers, the MLA and a few party men had gone near the institute on receiving complaints from locals about vehicles parked there blocking the road, and when they came across the graffiti they painted it with saffron paint to avoid any controversy, and there was no altercation as being alleged.

However, there is no clarity on who drew the graffiti regarding Modi, which according to BJP workers allegedly depicted the PM in poor light.

The institute has declared holiday on Thursday and Friday to avoid any further escalation, keeping the interest and safety of students in mind, sources said.

Interestingly, on Tuesday graffiti had appeared overnight on the shutters of some shops and walls on the Church Street against Modi, CAA and NRC, following which the city police have launched an investigation.

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
May 25,2020

Bengaluru, May 25: Helpless dairy farmers in a village in Bangaluru Rural district have dumped around 4,000 litres of milk into drains and on anthills.

The shocking incident took place at Chikka Korati near Hoskote yesterday after the Karnataka Milk Federation (KMF) refused to collect the milk because a pregnant woman in the village had tested positive for Covid-19.

The village was sealed off three days ago and three of the woman’s family was sent to institutional quarantine. The incident is an embarrassment since the government has been urging people not to stigmatise patients or their contacts.

“In Hoskote taluk, we lead in milk production,” Guru Korati, a villager, said. “There are around 130 families in the village, but we have two milk producers’ cooperative societies (MPCSs) – Chikka Korati MPCS and Dinne Korati MPCS. Our village produces more than 4,000 litres per day. The KMF refused to collect milk from both societies after they learnt about the positive case. Frustrated, we poured the milk down the drain.”

Guru wanted the government to address the village’s problems. “We are not only struggling to sell milk, but we also cannot transport vegetables which we cultivate,” he said.

Veerabhadrappa, from Chikka Korati in Bayala Narasapura gram panchayat, said: “Several families have cows enough to yield more than 50 litres of milk. What will they do with such a huge quantity of milk?”

Mehaboob Sab, panchayat development officer (PDO) of Bayala Narasapura GP, said, “We aren’t sure how the woman contracted Covid-19. A family member had visited Tamil Nadu and the woman also frequently visited a hospital in Kolar for checkups. We are still tracing her contacts.” 

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.