Murder after saffron group's Sankalpa Yatra' triggers communal tension

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.

Bengaluru, Feb 17: Karnataka State Government have plans to establish three more ultra Mega Renewable Energy power parks, each of 2500 MW capacity, Karnataka Governor, Vajubhai Wala informed the joint legislative meeting, here on Monday.

Addressing a Joint Legislative meeting here, he said that the proposed Ultra Mega Renewable Energy parks would come up at Koppala, Bidar and Gadaga in the state.

Bengaluru, Feb 17: Leader of Opposition in Karnataka Assembly Siddaramaiah on Monday demanded that forest minister Anand Singh should either be expelled from the Cabinet or assigned a different portfolio.

This comes amid a number of cases, pending against Singh, including those under the Karnataka Forest Act.

"How can we expect justice from Anand Singh who has been made forest minister and is accused of (illegal mining)? We demand that he should either be dropped out of the state Cabinet or at least his portfolio be changed," Siddaramaiah told media.

Earlier in the day, Chief Minister BS Yediyurappa allocated portfolios to the 10 newly inducted ministers in his Cabinet.

As part of state Cabinet's expansion, 10 MLAs including Ramesh Jarkiholi, Anand Singh, K Sudhakar, and BA Basavaraja took oath as ministers at Raj Bhawan in Bengaluru on February 6.