Mangaluru: Balmatta-Bendoorwell road named after Blasius D'Souza

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, July 17: For the first time, Dakshina Kannada saw over 3,00 new coronavirus cases in a single day. The coastal district today recorded 311 positive cases. 

The number of active cases in the district is 1,725 while its overall tally stands at 3,074.

Out of the 26,242 samples tested so far, 23,168 were tested negative. 

As many as 1,278 people were discharged after fully recovering so far including 115 people who were discharged today.

The district also recorded deaths of 8 covid-19 patients in past 24 hours including a woman. The deceased are aged between 53 years and 78 years. 

With this the total number of deaths in the district mounted to 71 including 12 patients from other districts who were admitted in hospitals here. 

Meanwhile, Karnataka reported 3,693 fresh cases in the last 24 hours, which raised the virus case count to 55,115. The number of recoveries reached 20,757, including 1,028 on Friday.

At 115 fatalities, the state witnessed its biggest single-day jump. Bengaluru accounted for 75 of these 115 deaths. The number of active cases in the state are 33,205, including 508 patients who are in ICU. The state's death toll reached 1,147 while that of Bengaluru stands at 582.

Mangaluru, Mar 8: The Saraswat Co-operative Bank Ltd., celebrated International Women’s Day with a special seminar on Financial Planning for the banks’ women customers. The programme was held on Friday, March 6, 2020 from 4.00 to 6.00 p.m. at Hotel Ocean Pearl Inn, Bejai, Mangalore. Dr. Sukanya Rao, academician and financial planner, was the chief guest and resource person for the seminar. Mr. Srinivas C., Karnataka State Head, Future Generali India Insurance Company Ltd., was the guest of honour.  Mrs. Vimala Anchan, Senior Manager and Branch Head of M. G. Road Branch of Saraswat Bank presided over the function.

In her chief guest’s address, Dr. Sukanya Rao defined empowerment of women as the ability of take one’s own decisions and utilize resources. Quoting global rankings, she said India enjoys a high ranking of being 9th in the world in political empowerment of women, whereas in other sectors we stand abysmally low. In social empowerment of women, India ranks at 120th, in economic empowerment at 124th and health and survival at 135th.

She suggested that the best tool for enhancing these empowerment rankings is education, which will lead to earning potential and result in enhancing social status. “Every year spent in school boosts girl’s wages by 10-20%,” she said “When a girl receives 7+ years of education, marriage gets postponed by four years and she has 2.2 less children.” She advised women to learn to take one’s own decisions. “Learn to take decisions, especially financial decisions, on your own instead of depending on significant others to do the decision making,” she said.

She followed up her talk with an interactive session on personal financial planning. She enlightened the audience on factors influencing our financial decision making and gave different perspectives on prioritizing savings, spending and investment. 

Srinivas C., Karnataka State Head, Future Generali India Insurance Company Ltd., along with Deepak enlightened the women regarding financial safeguards available under Married Women's Property Act (1874).

Established in 1918, Saraswat Bank was the first co-operative bank to provide merchant banking services after it was recognized as a scheduled bank by RBI in 1988. The bank enjoys high proportion of women employees (nearly 75%) and it is a recipient of Best Cooperative Bank Award in 2016.

Fun games were conducted and prizes were distributed to the winners. Bhavanthi Street Branch Head Karthik Shetty welcomed the gathering. Prithvi Pai and Aishwarya rendered the invocation. Naina Shenoy expressed the bank’s Women’s Day greetings. Chilimbi Branch Head Kishore Shetty gave a vote of thanks. Mahesh Nayak compered the programme. Past Branch Head Mamtha Rao was present.