Farmers condemn Karnataka govt’s decision to allow rice mill owners to purchase paddy

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.

Mangalore, Jan 16: Medical fraternity of the state are racing and thrilled to be participating in the upcoming Karnataka Medical Council election to be held on 23 Jan 2020 polling will be held at IMA House Mangalore by direct ballot.

The results will be announced on Jan 25, 2020.

This Election is a historic one since the inception of KMC, It is being conducted across the state by direct voting by all the registered MBBS doctors of the state for 12 seats numbering more than 65,000.

Mangaluru, Jan 17: A poultry truck transporting chickens overturned on Friday at Perne village near Uppinangady on Mangaluru-Bengaluru National Highway, killing 200 of them.

Police said that the truck was headed towards Mangaluru from Uppinangady when the truck driver lost control of the vehicle causing it to topple. As many as 200 chickens were killed in the mishap.

Another vehicle was later used to transport the remaining chickens.