Why Modi is targeting HDK govt: To break coalition & gain foothold, say analysts

Bengaluru, Feb 11: Onion price dropped to Rs 25-30 per kg on Monday, down from the dizzying Rs 200/kg in December and January. The price had spiked because of excess rain, which ruined the crop in several parts of the country.

With supply stabilising, especially from Maharashtra and northern Karnataka, and exports banned, the rate is now easing, officials said.

Consumers may be smiling but farmers are worried as they are not able to make more than Rs 17/kg as against the expected Rs 40.

"We get onions from Nasik and Sholapur in Maharashtra. Nasik onions used to be exported but since that is currently banned, they are landing in Bengaluru, leaving the market here with a surplus," said K Lokesh, president, Karnataka State Onion Merchants Association.

A farmer from Sholapur wh o was part of a onion growers' delegation which met traders in Bengaluru, said, "The cost of everything has gone up. Labour charges and fuel prices are draining us. How can we survive? How can I pay for my children's education?"

Another Sholapur farmer rued: "My daughter's wedding is in March. How am I going to meet all the expenses? I have to pay for labour, transportation, gunny bags and when everything adds up, I don't get to save more than Rs 30,000 in a month."

Bengaluru, Feb 10: Former Karnataka chief minister HD Kumaraswamy's son Nikhil Kumaraswamy today got engaged to Revathi, the grand-niece of Congress leader and realtor M Krishnappa.

On February 6, Mr Nikhil shared a picture with Ms Revathi on his official Facebook account.

Mr Nikhil's grandfather and former prime minister of India HD Deve Gowda attended the event along with several other politicians at the Taj West End.

BJP leaders including Chief Minister B S Yediyurappa former chief minister Jagadish Shetter were also present.

Mr Nikhil, 30, is a Kannada film actor who made his debut in the bilingual movie Jaguar in 2016. The actor will soon start shooting for his new movie Production No-1.

In the 2019 Lok Sabha elections, he lost to Sumalatha Ambareesh, widow of former Karnataka actor Ambareesh, in the Mandya constituency in Karnataka.

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.