Mangaluru: UT Khader gives Rs 1 lakh to cops for arresting beach rapists

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, May 3: Karnataka Chief Minister BS Yediyurappa on Sunday said that his government has allowed labourers to travel to their hometowns in the state on KSRTC buses free of charge for three days starting on Sunday.

"Labourers have been allowed to travel in KSRTC buses free of charge from the district centres and capital Bengaluru to their hometowns in Karnataka for three days from today," Yediyurappa said.

"The government will bear the cost of travel. The concern is that a large number of labourers should not assemble at any bus stop," he added.

The Ministry of Home Affairs (MHA) on May 1, issued an order to extend the ongoing lockdown by two more weeks from May 4 and also allowed the movement of migrant workers, tourists, students and other persons stranded at different places, by special trains.