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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coastaldigest.com news network
March 19,2020

Mangaluru, Mar 19: The officers of Directorate of Revenue Intelligence, on March 11 intercepted 2 persons - Syed Mohammed and Shri Ashoka K S - Mangalore Central Railway Station and recovered 5.6 Kgs of gold bars in crude form.

The operation was conducted based on specific information about a network of operators who were bringing smuggled gold in the form of crude bars from Calicut to Mangaluru. The gold was then re-melted and cast into 100 gms bars with foreign markings, using foreign marking moulds, and was then getting distributed to various locations in Karnataka.

Further, one Mr. Manjunath Shet alias Rupesh who was supposed to receive the said gold from the passengers was also apprehended at the parking lot of the railway station.

Simultaneous searches were conducted in three different premises in car street Mangaluru, Udupi, and Shivamogga.

Further, the source of the gold was traced to melters/jewellers in Calicut and swift follow up action was conducted leading to seizures of gold and Rs 82 lakh Cash. Two cars of Toyota Etios model belonging to the syndicate having specially designed cavities for concealment which were used for transporting cash and gold between Calicut and Mangaluru were also seized.

Naveen Chandra Kamath of Udupi, who is the master mind involved in the case was also apprehended. Overall 7 persons were arrested during the entire operation. Further investigation is ongoing in the said case to uncover the other persons involved in the racket. The total seizure was 9.3Kgs of gold, valued at approximately 4 crores, 5.2 kgs of silver along with Rs 84 lakh in cash.

The team constituted of 40 officers from Bengaluru, Mangaluru and Shivamogga took part in the co-ordinated effort.

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News Network
July 9,2020

Bengaluru,  Jul 9: Former Karnataka Chief Minister and Congress leader Siddaramaiah on Wednesday said that he was opposed to a tie-up with Janata Dal-Secular in the last Lok Sabha elections but the party high command did not listen to him.

"I had suggested that we should fight alone (in Lok Sabha elections) because JD-S votes would not have come to us and our votes would not have gone to JD-S," Siddaramaiah told reporters here.

Congress leader said that he was the only one to make the suggestion and he did not get support.

"I was the only one to raise a voice that's why it was not heard by (party) high command and I did not get support. We might have won over seven seats in parliament election if we had fought alone," he said.

After forming government in Karnataka in 2018 with support of JD-S, Congress had fought the 2019 general election in a pre-poll alliance with the party. Congress could only one seat of the 21 it contested and JD-S also won one seat of the seven it contested.

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News Network
January 28,2020

Bandipur, Jan 28: British adventurer Bear Grylls and superstar Rajinikanth arrived at the Bandipur Tiger Reserve and National Park in Karnataka on Tuesday for shooting a special episode of the show 'Man vs Wild'.

The actor arrived at the location dressed in comfortable sporty clothes. Donning a dark blue jacket and grey track pants, Rajinikanth was also carrying a cross-body sling bag.

Videos and photographs of Rajinikanth arriving at a helipad were shared widely on social media.

Reports say that an agreement was signed between the Karnataka Forest Department represented by the Field Director of Bandipur and Banijay Group, Seventaurus Entertainment Studio Private Ltd, Mumbai for shooting of the documentary in December 2019. The team was also allowed to do a recce from December 27th to 29th as per the agreement, a report said.

The shooting has been permitted for six hours. "Permission for the shooting has been given for Sultan Batteri highway and ranges of Mulleholle, Maddur and Kalkere ranges. They will be shooting in non-tourist zones. If permission was given for the shooting of Wild Karnataka, then this can also be permitted. Also, no tourist or regular forest patrolling activities will be affected. The shooting will be done under special forest protection and no one will be aware of the locations," a forest official was quoted as saying in another news report.

Earlier in 2019, Grylls shot an episode of the show with Prime Minister Narendra Modi.

Grylls is also back with the latest edition of his National Geographic show ‘Running Wild With Bear Grylls’, where actors such as Channing Tatum, Brie Larson, Joel McHale, Cara Delevingne, Rob Riggle, Armie Hammer and Dave Bautista take on adventurous challenges in remote wilderness.

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