Let’s eliminate 'serpent of communalism' from the beautiful garden called DK: SP

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, Feb 13: UK's Chancellor of the Exchequer Sajid Javid quit the Boris Johnson government as part of a cabinet reshuffle unfolding on Thursday and has been replaced by Rishi Sunak, reports said.

Indian-descent Sunak, 39, who is married to Akshata, the daughter of Infosys co-founder N.R. Narayana Murthy, was Chief Secretary to the Treasury since July 2019.

An analyst with Goldman Sachs before joining politics in 2014, Sunak, whose grandparents were from Punjab and emigrated to the UK from east Africa, is MP from Richmond (Yorkshire). He was Parliamentary Under-Secretary of State for Local Government in the Theresa May government.

Pakistani-descent Javid, who became the first Asian to become a Cabinet Minister when he was made Secretary of State of culture, Media and Sports in the David Cameron government in 2014 after stints as Economic Secretary to the Treasury (2012-13) and Financial Secretary (2013-14), was earlier the Home Secretary in the the Theresa May government.

He had then cleared absconding businessman Vijay Mallya's extradition to India in February last year following the decision by the Westminister Magistrates Court in December 2018.

Javid, who ran for Conservative Party leadership after May quit but lost to Boris Johnson, was made Chancellor by the later. In the reshuffle on Thursday, he was offered to retain his post if he fired all his advisors but declined and quit, the BBC reported.

Bengaluru, Jan 5: A day after senior Congress leaders in Karnataka met to build consensus for the way ahead, the race for the post of KPCC President hotted up on Sunday with aspirants and their supporters stepping up efforts to secure the coveted posts.

Senior leader D K Shivakumar, seen as a frontrunner for the post, met former Chief Minister Siddaramaiah at his residence amid reports that he was lobbying in favour of one of his confidants.

Meanwhile, another senior party legislator Satish Jarkiholi made it clear he was capable of discharging the responsibility if the high command asked him to do so.

Also, loyalists of senior leader and former Minister Ramalinga Reddy came up with social media posts, pushing forward his name for KPCC President.

Congress Legislature Party leader Siddaramaiah and state Congress chief Dinesh Gundu Rao quit their posts after the party fared poorly, winning only two of the 15 seats in the bypolls while it had held 12 of them.

According to party sources, though Siddaramaiah is likely to retain the position of Leader of Opposition, the CLP leader post may be given to some one else.

The sources also said replacement of KPCC President was most likely as Dinesh Gundu Rao's resignation could be accepted.

Shivakumar is seen as the frontrunner for the KPCC President post and has already held discussions with high command in this regard.

His meeting with Siddaramaiah, who is expected to travel to Delhi soon to hold discussions with the high command, assumes significance amid reports that the former chief minister was favouring one of his confidants for the post.

Shivakumar during the meeting sought Siddaramaiah's cooperation for his appointment to the coveted post, with a promise to work under his leadership, sources said.

However, speaking to reporters after the meeting, Shivakumar said he had worked under Siddaramaiah as legislator and Minister, and there was nothing special about the nearly two-hour-long meeting.

"...Im not a competitor for any post, I won't ask for any post, that time is over. I'm a karyakarta of the party and will work as karyakarta," he said in response to a question, adding he will abide by the party's decision.

On the other hand, Congressleader andYamakanamaradi MLASatish Jarkiholi said he was ready to take up the responsibility if the party high command decides so.

"It has been decided to cooperate and work under the leadership of anyone, whom the party high command decides (as President). Let's see, it is for the high command to decide (who will be KPCC President)," he said.

In response to a question from reporters in Belagavi if he was aspiring for the post, Jarikholi said, "I havent asked, but if given I will manage it efficiently..."

Meanwhile, loyalist of seven-time Congress MLA Ramalinga Reddy, came up with a social media post, demanding KPCC President post for the leader.

"Seven-time @INCKarnataka MLA and former Home Minister Sri @RLR_BTM for #KPCC President. #Congress #Karnataka #RamalingaReddy #BTMLayout #BBMP #Bengaluru," former Mayor of Bengaluru City and a close confidant of Reddy, B N Manjunatha Reddy tweeted.

Last year during the political turmoil faced by the coalition government, Ramalinga Reddy had threatened to resign, unhappy at being sidelined in the party.

He had later decided to stay with the Congress after the high command intervened.

With a virtual vacuum in the state Congress following the resignation of its top leadership after the rout in the recent Assembly bypolls, senior party leaders had met here on Saturday with an aim to build a consensus for the way ahead.

According to sources, the meeting was convened after instructions from the high command to iron out differences and build consensus on taking the party forward and regarding appointments to key posts, before coming to Delhi for discussions.

Senior leader K H Muniyappa and KPCC Working President Eshwar Khandreare seen as the other aspirants for the President post.

Ssenior leaders G Parameshwara along with H K Patil are among those seen as the frontrunners for the CLP leader post vacated by Siddaramaiah.