Tribunal restrains ED From taking over Dr Zakir Naik’s assets; asks why no action against babas?

Jan 6: A Thane resident lost a little over Rs 1 lakh in an online fraud involving popular payment gateways, police said on Saturday. The complainant, a resident of Patlipada, wanted to sell his furniture and posted an ad on Facebook on December 21, an official said.

On December 24, he received a call from one Rajendra Sharma who offered to buy the furniture and wanted to transfer the amount through payment gateways — Paytm and Google Pay, he said.

However, instead of the money getting credited to his account, the complainant found that Rs 1.01 lakh were debited from him during three transactions on two payment gateways, the official said.

The complainant realised that he had been cheated when the accused assured that he would return the money and asked him for another account number, he added.

An offense has been registered against the unidentified accused under section 420 (cheating) of the Indian Penal Code and Information Technology Act and further investigations are underway, he said.

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, Jun 29: Former Karnataka Chief Minister Siddaramaiah along with Congress leaders on Monday rode a bicycle from his residence to Minsk Square to protest against the hike in fuel prices.

KPCC President DK Shivakumar was also seen riding a bicycle along with other members of the Congress party to Minsk Square where the party staged the protest.

During the protest, Siddaramaiah and Shivakumar along with party leaders carried a bike on their shoulders.

"We are carrying out our duty today. At the time of the UPA government's rule, when there was any hike in fuel prices, several BJP leaders had made bold statements. It is ironic that today, at the time of this COVID-19 pandemic, even despite the price of barrels falling, they have increased fuel prices," said Shivakumar.

"In Delhi, diesel prices have exceeded petrol prices. We must protest against this. The DCP can file whatever case he wants to. Despite several cases against us, we have never been shaken up. They are inconveniencing people and causing the people to burn in hell. These people must be protected," he added.

With the hike in fuel prices, the petrol prices stand at Rs 83.04/litre (increase by Rs 0.05), and the diesel prices stand at Rs 76.58/litre (increase by Rs 0.13) in Bengaluru, according to a price notification of state oil marketing companies.

The Congress has termed the increase in the prices of petrol and diesel as "unjust" and "thoughtless", and urged the Central government to roll back the increase with immediate effect and pass on the benefit of low oil prices directly to the people.