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
April 19,2020

New Delhi, Apr 19: The government on Sunday prohibited the sale of non-essential items through e-commerce platforms during the ongoing lockdown, four days after allowing such companies to sale mobile phones, refrigerators and ready-made garments.

Union Home Secretary Ajay Bhalla issued an order excluding the non-essential items from sale by the e-commerce companies from the consolidated revised guidelines, which listed the exemption given to the services and people from the purview of the lockdown.

The order said the following clause -- "E-commerce companies. Vehicles used by e-commerce operators will be allowed to ply with necessary permissions" -- is excluded from the guidelines.

The previous order had said such items were allowed for sale through e-commerce platforms from April 20.

However, the reason for reversing the order is not known immediately.

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 15,2020

Bengaluru, Jun 15: A total of over 4,000 COVID patients have been discharged in Karnataka so far, as the state on Monday reported 213 new cases of coronavirus and two related fatalities, taking the total number of infections to 7,213 and the death toll to 88.

On Monday alone 180 patients were discharged in the state after recovery. As of June 15 evening, cumulatively 7,213 COVID-19 positive cases have been confirmed in the state, which includes 88 deaths and 4,135 discharges, the health department said in its bulletin.

Out of the 2,987 active cases, 2,931 patients are in isolation at designated hospitals and are stable, while 56 are in Intensive Care Units. Among the two deaths were a 65-year-old man from Dharwad, who was the contact of another patient already tested positive.

He was admitted on June 14 at a designated hospital and died the same day. The other was a 75-year-old woman from Bengaluru, diagnosed with ILI (Influenza Like Illness) A known case of Diabetes mellitus and Hypertension , she was admitted on June 13 at a designated hospital and died on June 15.

Out of 213 new cases 103 are returnees from other states, a majority of them from neighbouring Maharashtra, while 23 are those who returned from other countries.

Among the districts where the new cases were reported, Kalaburagi accounted for 48, followed by Bengaluru urban 35, Dharwad 34, Dakshina Kannada 23, Raichur 18, Yadgir 13, Bidar 11, Ballari 10, Koppal 4, three each from Vijayapura, Bagalkote and Shivamogga, two each from Udupi, Haveri and Ramanagara, and one each from Hassan and Davangere.

Udupi district tops the list of positive cases with a total of 1,028 infections, followed by Kalaburagi 944 and Yadgir 822.

Among discharges also Udupi is on top with total of 736 discharges, followed by Kalaburagi 459 and Bengaluru urban 329. A total of 4,49,331 samples have been tested so far, out of which 5,362 were tested on Monday alone.

So far 4,32,346 samples have been reported as negative, out of which 4,738 reported negative today, the bulletin said.

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
July 28,2020

Bengaluru, Jul 28: In view of the COVID-19 pandemic, the Bruhat Bengaluru Mahanagara Palike (BBMP) on Monday advised people not to visit temples, mosques and other places of worship during the coming festival season.

"COVID-19 is now spreading rapidly in Karnataka, especially in Bengaluru. The festival season is starting with Varamahalakshmi festival on July 31, followed by Bakrid, Raksha Bandhan, Janmashtami, Gowri Ganesha, Moharram and then Onam. This festival season is the riskiest time for the spread of the coronavirus. Therefore, please STRICTLY follow the rules in order to stay safe. Do not visit religious places even if they are officially declared open," a notification from BBMP said.

In the context of Bakrid, unauthorised animal sacrifice (slaughtering) was prohibited in BBMP limits on roads and sidewalks, religious places, school and college premises, playgrounds and other public areas, as per the Karnataka Municipal Corporation Act of 1976.

"Unauthorised animal sacrifice (slaughtering) is a punishable offence under Section 3 of the Karnataka Prevention of Animal Sacrifices Act 1959 and Rules and the Amendment Act 1975, which provides for a maximum penalty of six months or Rs 1000, or both. According to the Karnataka Prevention of Animal Sacrifices Act 1959, slaughter-worthy animals can only be slaughtered in official slaughterhouses," the notification said.

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.