Mangaluru colleges using students to convert black money into white?

[email protected] (Coastaldigest.com News Network)
November 17, 2016

Mangaluru, Nov 17: Where there's a will to convert black money into white without paying penalty, there's always a way! And, the heads of the educational institutions in Mangaluru, the city of 'intelligent' people, have found an easiest way to counter thejihad' against black money.

1balckwhiteAccording to reliable sources, a few city based professional college, have asked some of their students, who had paid huge donations and fees a few months ago, to collect the money back in the form of denominated notes of Rs 1,000 and Rs 500 and return new currency notes after exchanging them in banks.

A Keralite student of a paramedical college in Mangaluru told coastaldigest.com on condition of anonymity that many of her batch mates have been asked to return their fee receipts. The college will give them the receipts only after they help the college to exchange the denominated currency notes through their personal accounts.

Ironically, the students who had paid fees through cheques are also being used as money mules by the professional colleges. The unethical practice of the colleges has caused inconveniences to several poor parents, who had sold their gold ornaments to pay the huge donations and fees months ago.

It is learnt that some students have paid more than Rs 3 lakh donations and fees to get seats in professional courses. The parents of those students are now in a quandary as the deposit above Rs 2.5 lakh will come under scanner.

Comments

Naren kotian
 - 
Friday, 18 Nov 2016

Inform IT officials . direct email id is available . CD must put this in website and spread .

Jeev
 - 
Thursday, 17 Nov 2016

Let the students inform IT officials. Why do they succumb to the pressure tactics of educational institutes?

Rikaz
 - 
Thursday, 17 Nov 2016

They should have taken that money in check....this situation would not have happened....Income tax worry??? let them suffer....

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News Network
July 13,2020

Bengaluru, Jul 13:  Karnataka Deputy chief minister Dr CN Ashwath Narayan on Monday urged chief minister BS Yediyurappa to cancel the license of private hospitals and private medical colleges which did not hand over their 50 per cent beds, to the government, Karnataka Deputy Chief Minister's Office said.

On June 26, the Karnataka government reserved about 50 per cent for COVID-19 patients in some private hospitals in Bengaluru.

Earlier in the day, former Karnataka Chief Minister HD Kumaraswamy said that the state government should provide vitamin C drug, Ayush Ministry-certified immunity boosters and sanitisers to every household in the wake of the coronavirus spread.

According to the Union Health Ministry, Karnataka has recorded 38,843 cases of COVID-19 to date.

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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 . 

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News Network
July 14,2020

Bengaluru, Jul 14: More than 80 Namma Metro workers have tested positive for COVID-19 in Bengaluru on Tuesday, said Yashwanth Chauhan BL, public relations officer of Namma Metro.

"All safety and treatment protocols would be followed at the camps," he added.

These workers were staying in a camp near Nagavara-Gottigere lane, reach-6 of phase two. More than 200 contract workers of Larsen and Toubro who had come from different states have been tested after a labourer complained of fever.

All coronavirus positive workers were shifted to a COVID care centre while others were kept in isolation as per the guidelines.

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