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
March 24,2020

Bangalore , Mar 24: Bizom, India's leading retail intelligence platform, announced free subscription of its retailer app and tele-ordering solutions for consumer businesses in India and other emerging economies. Both solutions enable retailers to send their orders directly to the brand.
In COVID-19 times of social distancing and prophylactic measures, brands are conscious about the safety of their salespersons. Also, retailers don't want travelling salespeople to enter their premises. Consequently, many retail stores are facing stockout situations of fast-moving product categories. Bizom's self-ordering solutions help brands to avoid stockouts of their products.
Bizom trends, which analyses consumption and demand for consumer brands, showed how a near-complete shutdown during the Janta Curfew followed panic buying in early March. The asymmetrical demand and a lack of salespeople for order-taking are driving the industry towards social-distancing-based store-stocking mechanisms.
Bizom provides social-distancing-based store-stocking solutions for consumer businesses. They include the Bizom Retailer App and the Bizom Tele-ordering.
The Bizom Retailer App enables self-ordering for a brand's key retail outlets and can be implemented in under two weeks. The mobile app, a B2B shopping app, is a simple installation for retailers. It lists and groups the brand's products as per its product categories. The app's interface is no different from that of leading e-commerce apps. All the user has to do is select the preferred SKUs and add them to their shopping carts.
The app also allows brands to customize the app to meet the requirements of their continually changing product categories. For instance, if an SKU runs out of stock, the brand can disable the given SKU from the app.
With the Bizom Retailer App, brands can take orders directly from retailers instead of the traditional order-taking approach, which requires high-touch from a salesperson. Some of the key features of the app are, the ability to provide product information directly through retailers including SKUs, competitor comparison and pricing.
It also enables self-ordering from the retailer to maintain the flow of products as per demand, enables scheme rollout information through a notification on the app rather than through salespeople, tracks delivery of goods to the retailer and enables incentive payments to retailers directly rather than through distributor claims.
With Bizom Tele-ordering, as the sales teams go remote, the tele-ordering solution will become useful for brands who want to get salespeople to take orders from retailers, remotely. It ensures continued service to outlets despite not being physically present in the market.
Here, salespeople can discuss product requirements with retailers and enter orders based on specific outlet types (grocery, chemist etc.), outlet class (Class A, Class B etc.) or based on their beat or as per a distributor.
The key features of the Bizom Tele-ordering solution are, its ability to help salespeople collect orders from retailers remotely and enter it for fulfilment into Bizom using a tool, the flexibility offered to salespeople for remote servicing of retailers as per outlet type, beat, distributor area etc., secondary schemes get applied automatically, variable discounts will get applied as applicable at an SKU level.
"At Bizom, we are conscious of our responsibility to help brands run faster during these COVID-19 times. Our solutions of Bizom Retailer App and Bizom Tele-ordering have been built to ensure that brands can leverage this situation of low direct touch with retailers to enable a better way of working, remotely. I am trying to help brands go live in a few days so that they, in turn, can serve consumers better during these testing times," said Lalit Bhise, CEO, Bizom.

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News Network
April 19,2020

Bengaluru, Apr 19:  Karnataka's Technical Education department following Union Home Ministry’s guidelines, on Sunday directed all its colleges not to use the Zoom application to conduct online classes during the ongoing lockdown period.

Considering Union Home Ministry's advisory that Zoom app is not safe, the department has taken the decision and issued a circular asking all government, aided and unaided engineering, polytechnic (Diploma) colleges to stop using the app immediately.

The department recommended the use of a free app developed by TCS: "TCS iON Digital class room" or any other App recommended by All India Council for Technical Education (AICTE) to conduct the online classes.

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News Network
August 8,2020

Bengaluru, Aug 8: Karnataka government on Friday issued revised guidelines for international returnees.

According to the guidelines, all the travelers shall submit self-declaration form on the Yatri Karnataka online portal at least 72 hours before the scheduled date of travel.

"All travelers shall submit Self-declaration forrn on the Yatri Karnataka online portal (http://www,covidwar.karnataka.gov.in or http://parihara.kaarnateka.gov.in/service38/) least 72 hours before the scheduled date of travel," it read.

It said that Before Boarding Do's and Don, about COV1D-19 quarantine, testing, etc. shall be provided along with ticket to the travellers by the travel agencies concerned.

All passengers shall download Arogya Setu app, Quarantine watch app end Apthamitra App on their mobile devices, (https://covid-19.karnataka.gov.in/new-page/softwares/en).

At the time of boarding the flight/ ship, only asymptomatic travellers shall be allowed in board after thermal screening.

"Deboarding should be done by ensuring physical distancing of two meters. 

Self-declaration form shall be obtained from each passenger in duplicate," the guidelines read.

Karnataka has 75,076 active cases of the virus with 80,281 recovered and 2,897 deaths so far. 

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