Gauri murder: Hindu Yuva Sene leader to undergo neuro-psychological tests

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.

Mangaluru, June 14: Private schools under the aegis of Association of English Medium Schools in Dakshina Kannada and Udupi urged the State government to reimburse the arrears of the fee related to admission of students under the Right to Education (RTE) Act.

Speaking to newsmen here on Sunday association president Y. Mohammed Beary said the State government has not cleared the arrears for the last two years. “The 400 private schools in two districts have to get around Rs 2 crore,” he said and added that the overall arrears that the government has to pay to schools in the State are around Rs1,200 crore.

Mr. Beary said arrears have made the school managements like his, who collect annual fees of about Rs 20,000 from a student, hard to function. Due to lockdown from March the schools could not conduct annual examinations and hence they could not collect pending fees from parents.