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
February 10,2020

Belagavi, Feb 10: In comments that raised eyebrows, Ramesh Jarkiholi, who quit the Congress and joined the BJP and who took oath as minister last week, said his brother Satish has a bright future. The two siblings have rarely seen eye-to-eye — at least in public — in recent times.

He also trained his gun on Congress leader DK Shivakumar, sarcastically thanking the Congress MLA for his meteoric rise. “Had Shivakumar not stood against me, I would not have emerged as a tall leader in the state. I must thank him,” Ramesh said.

The Gokak MLA said Satish of the Congress, the most politically-savvy of the five Jarkiholi siblings, would reach “the top” in his political career. However, he advised him “to inculcate patience and adopt strategies”. “He should make his moves at the right time as timing is very important in politics,” Ramesh said.

He also urged Satish to keep his supporters happy. “Many of his followers are disappointed with his leadership because he does not extend a helping hand to his own people. In the present political climate, people do not endorse a leader who only talks about Buddha and Basava,” Ramesh said.

Ramesh took a dig at Lakan, the youngest sibling, saying, “Lakan speaks ill about me most of the time. He does not understand much. But we brothers are one when it comes to family. We are united when it comes to family matters, but when it comes to politics, we are at loggerheads.”

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News Network
February 24,2020

New Delhi, Feb 24: A book on the history of the Bharatiya Janata Party (BJP) will become a part of a course in the Islamic University of Indonesia, as the party’s two consecutive victories in India’s general elections has evoked interest among academicians, a faculty member said.

The book, titled Bhartiya Janata Party — Past, Present & Future, Story of World’s Largest Political Party and written by Shantanu Gupta, will become a part of the syllabus for undergraduate students of South Asian studies in the Department of International Relations.

Hadza Min Fadhli, a faculty member at the university, said there was a rising interest in the BJP’s rise among academicians in Indonesia, especially after the party won two general elections in India.

He said the book would be part of the syllabus for undergraduate courses in South Asian studies in the Department of International Relations.

Mr. Hadza said he got to know about the book during a recent visit to India as part of the Kautilya Fellowship programme, organised by the India Foundation. “We in Indonesia intend to further strengthen our relations with India. Therefore, it is important to understand its ruling party. We expect the BJP would also intend to do the same,” Mr. Hadza said.

When asked about the book being selected to be a part of a course in an Indonesian university, Mr. Gupta said global recognition of his work is immensely satisfying.

This book chronicles the history of the BJP which, Mr. Gupta said, described the saffron party as the latest political manifestation of the various nationalist movements that the country has seen.

Mr. Gupta has authored five other books, including a biography of Uttar Pradesh Chief Minister Yogi Adityanath and a book on football in India.

Comments

Fairman
 - 
Tuesday, 25 Feb 2020

Stupidity of faculty.

 

 

They should know the reaction of Malaysians to BJP's attrocities.

 

sharief
 - 
Tuesday, 25 Feb 2020

When Malaysia outright knows BJP's agenda, they reacted. 

This decission of Indonesian faculty shows clear stupidity and his mental stability.

 

God give wisdom to Indonesians

 

 

 

 

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News Network
April 29,2020

Bengaluru, Apr 29: As many as 11 more people have tested positive for the coronavirus in the last 24 hours in Karnataka, said the State's Health Department on Wednesday.

According to an official statement, 11 new COVID-19 positive cases were reported from 5 pm on April 28 to 5 pm on April 29.

"With this, the total number of positive coronavirus cases in the state has mounted to 534, of which 20 deaths have been reported and 215 people have recovered," added the statement.

Of 20 coronavirus patients who died, one death was due to the non-COVID cause, the statement further said.

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