There is an 'atmosphere' for BJP to form govt in Karnataka: BSY

Hubli, Mar 15: Karnataka Chief Minister BS Yediyurappa on Sunday said that his government has asked Centre to help in setting up of labs in view of the coronavirus cases.

Speaking to reporters after reviewing the situation in the state on coronavirus, Yediyurappa said, "No new cases were reported on Saturday and Sunday. The cases reported are of people who came from abroad. Government has made all preparation to fight against this. We have asked the central government to help in setting up labs wherever required, shortly we will do it."

"We have taken a lot of precautions to prevent the spread of coronavirus. For the first time shutdown has been declared for a week. People are also cooperating with us, we will take a further decision after one week," he added.

Karnataka government has said that as of now six cases of COVID-19 have been reported in the state, including one person who died.

"Till date six COVID-19 cases have been reported in the state including one death. The 5 Coronavirus positive cases are in isolation at the designated hospital in Bengaluru," the Karnataka government said on Sunday.

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.