Karnataka BJP warns of protests over Cong-JDS govt's ‘apathy’ towards drought

Mangaluru, Jun 13: Around people from Bhatkal, who were stranded in United Arab Emirates due to months of covid lockdown, finally reached their hometown today. A charter flight carrying these passengers took from the Ras Al Khaimah International Airport at 11:20 PM (UAE time) yesterday and landed at Mangaluru International Airport at 4.20 am today.

After completing all the formalities, they were taken to Bhatkal in five buses arranged by Bhatkali Jamaatul Muslimeen, Mangaluru. Two hotels and a college hostel have been booked for the institutional quarantine of the returnees. 

The passengers were received at the airport by Majlis E Islah wa Tanzeem executive members, Bhatkali Jamaat Ul Muslimeen executive members, and Bhatkal Muslim Youth Federation executive members. 

Ateequr Rahman Muniri, vice president of Majlis-e-Islah wa Tanzeem and owner of UAE based Nuha General Trading LLC, had taken the initiative of sending stranded citizens of Bhatkal and surrounding regions to back home from UAE.

“After we came to know about the problems of the NRIs stranded in UAE plans were made to charter flights to send them home. I received huge support from the Bhatkal community leaders and youth here in Dubai, who gave their complete cooperation and helped with their efforts in successfully chartering the first flight," Muniri said.

Bengaluru, Jan 22: Chief minister BS Yediyurappa has urged the business community to focus on industries that are farmers and job-oriented and promised that his government would provide all the assistance it can in setting up these industries.

“My government will go the extra mile to facilitate industries that help farmers and provide jobs for youths,” Yediyurappa said during a meeting with several investors and entrepreneurs on the first day of the World Economic Forum, which brings global industry players and government representatives face- to-face, in Davos, Switzerland, on Tuesday.

The chief minister met representatives of 2000 Watt Smart Cities Association, which is represented by sustainability professionals of Nuesch Development, a Swiss Company, and ReNew Power. Both made presentations of their projects to the state delegation.

Yediyurappa appeared impressed by the 2000 Watt’s food processing clusters (development of modern infrastructure and common facilities) projects in rural areas. While presenting their concept, company representatives said they are willing to invest in food clusters, which can provide a better remunerative price for farm produce.

“We will provide all assistance and scientific farming techniques to grow healthy food and market them with added value to the produce,” said Andreas Binkert, scientist and academician, 2000 Watts.

Madhav Bhagwat, CEO of Nuesch Development India, told the Karnataka delegation that the company specialises in carbon-neutral smart township development projects and it has already signed an MoU with the Pune Metropolitan Region Development Authority.

ReNew Power delegates expressed interest in setting up solar power plants in North Karnataka districts like Vijayapura, Kalaburagi, Koppal and Raichur. Samanth Sinha, CEO, ReNew Power, urged the Karnataka government to remove bureaucratic and legal bottlenecks in acquisition of land.

Industries minister Jagadish Shettar and chief secretary TM Vijay Bhaskar among others were present at the meeting.

Yediyurappa and members of the state’s delegation attended US president Donald Trump’s address at the meet. Union minister of commerce and industry Piyush Goel and Union minister of state for shipping Mansukh Mandaviya were also present in the audience.

Mumbai, Feb 12: The Income Tax department's Criminal Investigation wing has identified 2,000 Indian citizens who hold properties in Dubai but had failed to declare it in their IT returns.

In its ongoing crackdown on black money, the agency has identified Indian citizens who purchased properties in Dubai but failed to declare and explain the source of funds used to purchase these properties.

In the past few years, people have used shell companies to route illegal money and buy overseas properties to evade income tax.

However, the tax department has now increased its efforts to track down those involved in major tax evasion cases.

The 2,000 persons and companies identified mainly include businessmen, top professionals, and government officials.

The IT department will initiate action against the accused under the Black Money Act.

Citizens who own properties outside the country but fail to declare the source of funds or income used for the purchase could be prosecuted under the Black Money Act.

Under Section FA (Foreign Assets) of the Income Tax Act, an individual has to declare purchase and ownership of properties, assets, companies owned outside the country while filing the income tax returns annually.

In the recent drive against black money, the IT department identified 2,000 Indian nationals who failed to provide information on the same while filing IT returns.

Of the 2,000 citizens owning properties in Dubai, around 600 could not furnish details regarding purchase details.

Those who haven't been able to explain the source of funds used for the purchase of properties could be prosecuted and their properties can be attached by the agency.

Other than the attachment of the property, they can face a monetary penalty up to 300 per cent of the property value and also face imprisonment under the Black Money Act.

The properties owned by Indians in Dubai raised red flags as this pattern of parking money is used by money launderers, smugglers, underworld gangsters and drug traffickers for making payments.

It is worth mentioning that of the 2,000 citizens identified, most are residing in Mumbai, followed by Kerala and Gujarat.

The clause under section FA (foreign Assets) came into effect in the year 2011-12 and it is mandatory for people owning properties outside India to declare it in their IT returns.

Those identified by IT department could also face action under FEMA (Foreign Exchange Management Act) by the Enforcement Directorate under Section 4.

Recently the Enforcement Directorate (ED) launched a crackdown on black money parked overseas by tracking and identifying immovable assets bought overseas by Indian nationals illegally.

The move is being carried out under rules laid down under Section 4 of FEMA (Foregn Exchange Manipulation Act), 1999. Section 4 of FEMA states that no person resident in India shall acquire, hold, own, possess or transfer any foreign exchange, foreign security or any immovable property situated outside India.

On January 17, the Enforcement Directorate (ED) conducted searches at the residence of a former chief engineer of Brihanmumbai Municipal Corporation (BMC) in connection with an inquiry related to FEMA.

In the raids, the ED officials recovered documents related to the purchase of a property in Dubai in an allegedly illegal manner.

The ex-BMC chief engineer was posted with some of the most crucial wings of the municipal corporation -- the building proposal department and development plan department.

The agency did not disclose the name of the ex-BMC chief engineer but it has been learnt that he had superannuated around seven years ago from the municipal corporation.

ED, in a statement, said incriminating documents with regard to illegal acquisition of a property held in Dubai was recovered during the search operation.

The former BMC chief engineer has stated that he had purchased the property in Dubai at 'Park Island, Bonaire Marsa, Dubai' for Rs 70 lakh in 2012. The property is held jointly in his name, his spouse and son.

The retired BMC officials could not furnish any documents which would help ascertain the value of the property and also could not provide details on how the payments were made to buy the property in Dubai.

The citizens identified by the IT department recently also adopted a similar route to buy property in Delhi. It remains to be seen how the income tax department plans to penalise them.