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Corporate tax cuts will improve revenue generation: FM Nirmala Sitharaman

OpIndia Staff
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Corporate tax cuts will improve revenue generation: FM Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman presented her second budget on Saturday. Ahead of the budget, there were great expectations from her to deliver on Narendra Modi’s vision of a $5 trillion economy. As such, the provisions in the budget regarding corporate taxes are crucial towards achieving that objective.

In tune with the Corporate Tax cuts announced in September 2019, Nirmala Sitharaman on Saturday announced proposed reduction of tax rates on cooperative societies to 22 per cent plus surcharge and cess, from 30 per cent at present.

In addition, Nirmala Sitharaman also announced the abolition of Dividend Distribution Tax(DDT), pegging the revenue forgone due to its removal at Rs 25000 crores. The Finance Minister said that the removal of DDT will encourage corporates to invest more.

Defending the loss of substantial revenue due to corporate tax slashed in September 2019, the Finance Minister Nirmala Sitharaman assured that the recent loss of government treasury will reap huge returns in due course. “Corporate tax cut and benefit derived by new companies, as well as improved GST collections will improve revenue generation & give the comfort to bring down fiscal deficit next year, with disinvestment too improving,” Sitharaman said.


The measures announced in the budget are consistent with the trajectory of the second term of the Narendra Modi government. In September, last year, Corporate Tax Rates were slashed by a significant degree in order to boost the economy. In a bid to give an impetus to the ‘Make in India’ campaign, a provision was inserted in the Income Tax Act with effect from 2019-20 which allowed new domestic company incorporated after 1st October 2019 to make fresh investment in manufacturing with an option to pay income tax at the rate of 15%.

Sitharaman had also announced that domestic companies can also pay income tax at the rate of 22% if they do not avail any incentive or exemptions. Following the move, the effective tax rates for these companies, including surcharge and cess came down to 25.17% from earlier 35%. To provide relief to companies availing of concessions and benefits, the FM had brought in a MAT relief by reducing it from 18% to 15%.

Maharashtra: Dr Rafiq Zakaria Women’s College in Aurangabad bans mobile phones on campus to ‘improve focus on studies’

OpIndia Staff
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Maharashtra: Dr Rafiq Zakaria Women’s College in Aurangabad bans mobile phones on campus to ‘improve focus on studies’

Dr Rafiq Zakaria Women’s College in Aurangabad, Maharashtra has banned the use of mobile phones inside the college campus during college hours. It said it had taken this action to help students improve their focus on studies.

Speaking to PTI, Principal of Dr Rafiq Zakaria Women’s College, Dr Maqdoom Farooqui said, “We were searching for measures to enhance the process of learning and we found that students could concentrate better when they are not allowed to carry their cellphones to classrooms.”

The women’s college which offers undergraduate and postgraduate courses and houses around 3000 students imposed this ban 15 days ago. The ban has not only helped students focus better in classrooms, but also improved their interaction with their peers, said Dr Farooqui.

Although students are not allowed to carry their own phones on campus, a couple of handsets are kept in the reading room for emergencies, he added.

The principal furthered that “Initially, the decision was taken as a punishment for overuse of cellphones, but now students and staff are cooperating in the effort to enhance the learning and teaching process.”

Students, who travel to the college from far away places, have to deposit their phones once they enter the campus and collect them on their way home, he added.

Coronavirus: Pakistan govt leaves over 150 of its citizens stranded in China even as India readies second aircraft for evacuation of Indian citizens

OpIndia Staff
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Coronavirus: Pakistan govt leaves over 150 of its citizens stranded in China even as India readies second aircraft for evacuation of Indian citizens

Even as India readies to send second aircraft to safely evacuate its citizens from Coronavirus hit China, roughly 150 Pakistanis are stuck at an airport since January 27 in Ürümqi, China’s Xinjiang Autonomous Region, reported Dawn. They include students and traders who are stuck at the airport either due to expiry of visas or due to the decision of Pakistan’s Civil Aviation Authority to suspend flight operations with China until 2nd February, owing to the Coronavirus outbreak.

A PhD scholar stuck in the airport, Tariq Rauf, said that the stranded Pakistani nationals were running short on money. They were forced to sleep on benches as they had handed over their hostel accommodation to the university administration. They were forced to buy food at their own expense. Several people, including children, have fallen ill due to the deplorable conditions.

Rauf pleaded, “We request the Pakistani government to evacuate us from here … this is our constitutional right.” He also highlighted that none of the stranded Pakistanis in Xinjiang was affected by the deadly novel Coronavirus, stating that the area is far away from Wuhan. He urged the Pakistan Government to evacuate them at the earliest.

After his plea went viral on social media, Rauf was reportedly contacted by the Pakistan Embassy which assured him of arranging hotel accommodation until the stranded citizens are evacuated. However, as per the report, no steps have been taken by the embassy after that.

Another 800 Pakistani nationals are stuck in Wuhan, China – the epicentre of the Coronavirus outbreak. Reportedly, the Pakistani government has snubbed its own citizens to show “solidarity” with China.


Dr Zafar Mirza who is the special assistant to the PM on National Health Services said, “We believe it is in the interest of our loved ones in China to stay there. It’s in the larger interest of the region, the world, and the country that we don’t evacuate them now.”

He cautioned that the Imran Khan-led-government cannot act irresponsibly by evacuating Pakistani nationals as the Coronavirus epidemic may then spread like wildfire all over the world. Mirza added, “That is the reason China has not allowed any foreigner to travel out. Only US diplomats have been allowed to fly out of China under the Vienna Conventions”.

The Pakistan Government is of the view that China is equipped with the requisite technology to contain the spread of coronavirus.

Read: Coronavirus crisis: Indian Army sets up quarantine facility at Manesar in Haryana for 300 Indians returning from Wuhan

India had yesterday evacuated over 300 citizens who were stranded in Wuhan after the virus outbreak. A special Air India flight was sent by the government and the Army was tasked with constructing an extensive and well-equipped quarantine facility in Manesar to house the people returning from Wuhan. Though none of them is said to be infected, they will be kept under observation for 2 weeks at the centre.

Second instance of firing in Delhi over anti-CAA protests, this time from Shaheen Bagh, suspect taken into custody

OpIndia Staff
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Second instance of firing in Delhi over anti-CAA protests, this time from Shaheen Bagh, suspect taken into custody

The second instance of firing in Delhi over the ongoing protests against the Citizenship Amendment Act has been reported from Shaheen Bagh. The suspect has been identified as one Kapil, a resident of East Delhi. Reportedly, he fired three shots but no injuries have been reported thus far. He has been taken into custody by the Police.


While he was being taken into custody, the suspect said, “Hamare desh me kisi aur ki nahi chalegi, bas Hinduon ki chalegi (Only the writ of Hindus shall run in India, no one else’s).”


The incident comes only two days after a minor had opened fire near Jamia Milia Islamia University injuring one student in the process. In his Facebook post, Gulshan had declared that his crime was an act of revenge for Chandan Gupta, the 16-year-old Hindu boy who was shot at and murdered, by one Salim, following a Tiranga yatra by the ABVP, where people from a particular community had pelted stones which led to clashes in Uttar Pradesh’s Kasganj in 2018.

Read: ‘Rambhakt’ Gulshan shooting in Jamia: A well hatched conspiracy? Here are some questions that need answers

Recently, a gun was brandished by one individual at the Shaheen Bagh protests. After the media initially tried to pin the blame on the BJP, it was discovered later on that the gun belonged to one Mohammad Luqman with links to the Aam Aadmi Party. It still remains to be seen who Gulshan is and whether he is associated with any political organization.

“Lots of repetition and rambling, Budget speech was very long”: Rahul Gandhi’s ‘constructive’ criticism on Union Budget 2020

OpIndia Staff
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“Lots of repetition and rambling, Budget speech was very long”: Rahul Gandhi’s ‘constructive’ criticism on Union Budget 2020

Gandhi-scion Rahul Gandhi, who is on a verge making yet another comeback in politics on Saturday reacted to Union Budget – 2020. He said the Union Budget was all talk with lots of repetition and rambling. The former Congress President also attacked the Finance Minister for delivering a lengthy budget speech.

“There was no strategic idea or anything concrete in the Union Budget and said that the budget described the hollow approach of the government,” Congress leader Rahul Gandhi said shortly after the presentation of Budget by finance minister Nirmala Sitharaman on Saturday.


The Congress leader said the budget was very long and it was probably the longest speech ever which saw tactical stuff but no central idea. He said that the speech was over two and a hours long, but there was no strategic issue.

“The main issue is unemployment. I did not see any concrete, strategic idea that could help our youngsters get jobs. There were redundant things in the budget and I did not see any central idea,” he said.

“It describes the government quite well. There is a lot of repetition, a lot of rambling and nothing concrete. It describes the mindset of the government, all talk and nothing concrete,” he added.

Meanwhile, senior Congress leader and former Prime Minister Manmohan Singh, who also served as the Finance Minister, said that the budget speech was a long one and he is yet to absorb it. 

However, Gandhi-scion seems to have absorbed most of the speech within a very short span of time, who launched personal attacks on Finance Minister Nirmala Sitharaman by claiming that she was rambling during her speech. The former Congress President chose to attack the government politically instead of criticising the Modi government on policy issues.

On Saturday, Finance Minister Nirmala Sitharaman tabled her second Budget in Parliament. Presenting the Budget 2020 in Lok Sabha, Finance Minister Nirmala Sitharaman on Saturday said the budget is “to boost the income and purchasing power of people.”

Responding to fears of a recession in the country, Sitharaman said the fundamentals of the economy are strong and that inflation has been well contained. The budget 2020-21 will focus on three themes — Aspirational India, Economic Development For All and A Caring Society.” FM Sitharaman said.

The Modi government unveiled plans for India’s highways and railways, proposing Rs 1.7 trillion for transport infrastructure that includes the accelerated development of highways and plans to monetize 12 lots of highway bundles.

The farm and rural sectors were allocated Rs 2.83 trillion, while the agriculture credit target for next year is set at Rs 15 trillion. The government also announced the developing Bharat Net – a program to bring broadband to villages. The government plans to provide Rs 60 billion for the project by next year.

In a big relief to middle-class taxpayers of the country, the Modi government offered a sharp reduction in tax rates for those who do not avail of any exemptions. The Budget proposed the creation of a new income tax regime to simplify the process of calculating the tax on personal income.

Through her budget, Finance Minister Sitharaman outlined the Modi government’s plans to deal with the challenges posed by the downward spiral of the economy and achieve the Rs 5 trillion economy target by 2025.

‘Comedian’ Kunal Kamra threatens to leak phone numbers of Arnab Goswami and ‘BJP leaders’ in public because he is getting calls from unknown numbers

OpIndia Staff
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‘Comedian’ Kunal Kamra threatens to leak phone numbers of Arnab Goswami and ‘BJP leaders’ in public because he is getting calls from unknown numbers

Self-proclaimed comedian Kunal Kamra, who was recently in news for his attention-seeking stunt of heckling and bullying Republic TV’s Arnab Goswami on a flight to Lucknow, has had a meltdown as he took to Twitter to vent out his frustration against the Republic TV Editor-in-Chief and BJP leaders.

Kamra asserted that he has been relentlessly getting calls from unknown numbers to argue with him. He claimed that since unknown persons are now calling him and asking to debate, just as he had invaded Goswami’s privacy, he should leak Arnab Goswami’s number in public and his ‘debate’ with him should be public too.

In an elaborate thread, a seemingly unhinged Kamra threatened Arnab Goswami and ‘BJP leaders’ with making their contact numbers public, alluding that they had leaked his contact details, thereby triggering a barrage of calls to him from unknown numbers.

Kamra also claimed that he has many phone numbers of ‘BJP leaders’ who had requested him to be on his show in the past. He then threatened that he would leak those numbers to the public so that people who want to hold those leaders accountable can debate with them.


Kamra also added that he doesn’t care two hoots for liberal validation or the woke culture, neither is he interested in taking the higher moral ground. “If you want to fight it out with pigs, you need to get down in the mud,” he said. It is, however, notable here that many in the ‘secular liberal’ circles had celebrated Kamra heckling Arnab Goswami, supporting his acts.

Kunal’s recent meltdown comes on the heels of his antics seeking the attention of Arnab Goswami. In contravention to all the safety norms and DGCA rules, Kunal had heckled and bullied Repulic TV Editor-in-Chief Arnab Goswami onboard the flight.

Read: After heckling in flight and holding a placard in front of Republic, Kunal Kamra sends creepy text to Arnab Goswami

Soon after his video of hectoring Arnab went viral, IndiGo put him on the no-fly list for a period of 6 months. Air India, Go Air and Spicejet followed the suit announcing they too have banned Kunal Kamra from flying until further notice. If this was not enough, Kamra tried to heckle Arnab once again while on the return flight inbound for Mumbai from Lucknow.

Kamra then took his antics up another notch and had stood outside the Republic TV premises claiming that he wants to ‘debate’ Arnab Goswami. He had also claimed that he had sent text messages to Goswami.

Karma has also sued Indigo for Rs 25 lakhs over the flight ban and ‘mental agony and pain’ that it allegedly caused him.

Govt clarifies Income Tax for NRIs, says only those NRIs who are not residents of any country will be taxed in India

OpIndia Staff
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Govt clarifies Income Tax for NRIs, says only those NRIs who are not residents of any country will be taxed in India

Clearing the air about new tax regime for NRIs, the government has said that only those NRIs will be taxed in India who are not residents of any other country, but still enjoy NRI status as they stay out of India for enough duration in a year that makes them eligible to become NRIs.

The budget for the financial year 2020-21 presented by Finance Minister Nirmala Sitharam today also increased the number of days to be spent outside the country in a year to be eligible to become NRIs. Now Indian citizens who spent at least 240 days out of India will be considered NRIs are per the Income Tax Act, up from existing 182 days.

After the budget was presented, this new clause of taxing non-resident Indians had caused lots of outrage and confusion, as the provision was misinterpreted by people. It was reported that the new clause says “an Indian citizen who is not liable to tax in any other country or territory” will come under Indian tax net. This made people to assume that those Indians living in countries where they don’t have to pay any tax will have to pay income tax in India.


But this was a complete misinterpretation of the changes to the Income Tax Act. The relevant section of the Finance Bill presented by the Finance Minister says, “an individual, being a citizen of India, shall be deemed to be resident in India in any previous year, if he is not liable to tax in any other country or territory by reason of his domicile or residence or any other criteria of similar nature.”

 

The second part of this sentence was ignored, which had caused confusion and misinterpretation. The Finance Bill clearly says that if a non-resident individual is not liable to pay tax in any other country due to domicile or residential or similar reasons, then such individuals will be considered as Indian residents.


At a press conference after the budget was presented, revenue secretary Ajay Bhushan clarified the matter by saying that only those NRIs will be taxed in India who are not residents of any country. The revenue secretary said, “some people are residents of no country. They may be staying in different countries for certain number of days. So 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.” This implies that Indians who are residents of any other country will not come under this provision, as they will be paying income tax in their country of residence as per laws of that country

There are many globe trotters who spend few days in different countries, but do not have residential status in any country. As a result, such persons are not liable to pay income tax anywhere. Now only such NRIs will have to pay Income Tax in India.

Budget 2020: Here is the list of exemptions that taxpayers will have to give up in the new optional tax regime

OpIndia Staff
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Budget 2020: Here is the list of exemptions that taxpayers will have to give up in the new optional tax regime

Union Finance Minister Nirmala Sitharaman, in her Budget 2020 speech, announced a new optional tax regime for taxpayers of the country. It was announced in Budget 2020 that in the new tax regime, those earning between Rs. 5 lakh to Rs. 7.5 lakh will pay income tax at the rate of 10%. Those earning between Rs. 7.50 and 10 lakhs will pay a 15% income tax. Those between Rs. 10 lakh and 12.50 lakh will pay a 20% income tax and the same for people earning between Rs. 12.50 and 15 lakh will be 25%. For those earning above Rs. 15 lakh in a year will be taxed at 30%.

The optional new tax regime announced in Budget 2020 also mandates that taxpayers will have to forego exemptions in order to benefit from the said declaration. These exemptions are concessions that taxpayers receive under the various sections of the tax code.

Exemptions that a person will have to forego in order to benefit from the new optional tax regime

The list of exemptions includes “Leave travel concession as contained in clause (5) of section 10”, house rent allowance, allowances to MPs/MLAs in clause (17) of section 10, allowance for the income of minor in clause (32) of section 10. Others include standard deduction, the deduction for entertainment allowance and employment/professional tax in section 16 and deductions under section 32AD, 33AB and 33ABA. Deduction under section 35AD and section 35CCC are included in the list as well.

Read: Budget 2020: Here is all you need to know about new optional personal tax regime where the govt foregoes Rs. 40,000 crores in revenue

Exemptions such as certain deductions for donation for or expenditure on scientific research and deduction from family pension under clause (iia) of section 57 and additional deprecation under the same clause are also included in the list. Exemption for SEZ unit contained in section 10AA will have to be foregone to avail of the benefits of the new tax regime as well. Any deduction under chapter VIA and section 80JJAA that can be claimed will also have to be relinquished. In total, there are fourteen such exemptions that a taxpayer seeking to avail the benefits of the new optional tax regime will have to be given up.

Meet Shadab Najar: The Jamia student who was injured in the shooting on Thursday during anti-CAA protest march

OpIndia Staff
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Meet Shadab Najar: The Jamia student who was injured in the shooting on Thursday during anti-CAA protest march

On 30th January, 2020, on death anniversary of Mahatma Gandhi, an anti-CAA protest march was carried out at Jamia when one Gulshan (name changed) opened fire at the crowd and injured one student, Shadab Najar. Following the shooting, a Facebook account which purportedly belonged to Gulshan went viral. The left-liberal media was quick to paint him the incident as that of Hindu terror. However, very little was talked about Najar, the student who was injured in the firing.

Shadab Najar’s Facebook post

On 22nd June 2017, Shadab had posted on his Facebook page where he could be seen spewing venom about the Chenab river in Kashmir. In his post, Najar talks about dividing Hindus and Muslims in Jammu & Kashmir. He says that east of Chenab which adjoins Jammu has Hindu majority while the west of Chenab has Muslim population and dividing it on religious line would be better. This was written 2 years prior to abrogation of Article 370 which made erstwhile state of Jammu & Kashmir integral part of India and subsequent bifurcation of the state into two union territories.

Read: ‘Rambhakt’ Gulshan shooting in Jamia: A well hatched conspiracy? Here are some questions that need answers

He had written that the people of Chenab valley had made a lot of sacrifices for “Tehreek-e-Azaadi” and Kishtwar, Ramban and Doda districts should be separated from Jammu region as they are Muslim-dominated.

That’s not all. A lot of his other posts on Facebook are quite disturbing.

Shadab Najar sharing Umar Khalid’s post

On 18th June 2017, he had shared JNU student activist Umar Khalid’s Facebook post where he is talking about the India-Pakistan cricket match and mocking those who demand action on those who celebrate Pakistan’s victory against India in cricket.

Shadab Najar on Burhan Wani

On 9th July 2017, Shadab had likened slain terrorist Burhan Wani to army personnel as all he did was ‘picking gun and shooting innocent’, thereby implying that Indian army shoots innocent people.

Shadab Najar sharing post which claimed that Indian armymen raped women

In May 2018, he made yet another post which degraded the Indian Army claiming that the army personnel are raping women.

Shadab Najar claiming Hitler inspires “Hindu nationalists” to “kill Muslims”

On January 31, 2018, he shared a post written by serial fake news peddler who defends radical Islam, CJ Werleman, which said that Hindu nationalists are inspired by Hitler to ‘kill Muslims’.

Shadab Najar sharing video which claims Indian forces kill Kashmiri civilians

In March 2018, he yet again shared posts which claimed Indian Army is killing Kashmiri civilians.

Shadab Najar sharing Anand Patwardhan’s post

On 16th February 2019, just hours after the deadly Pulwama attack, Najar shared a Facebook post by documentary filmmaker Anand Patwardhan who cast aspersions that the terror attack was an ‘inside job’ ahead of 2019 general elections.

Shadab Najar making the ‘gau mutra’ jibe

In June 2018, he shared a post on Facebook about an animated film on a cow’s journey and made the ‘gau mutra’ jibe, a comment often used by jihadis and leftists to mock Hindus.

Controversial doctor Kafeel Khan arrested for his hate speech at AMU sent to Mathura jail

OpIndia Staff
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Controversial doctor Kafeel Khan arrested for his hate speech at AMU sent to Mathura jail

Controversial ‘doctor’ Kafeel Khan arrested in Mumbai on January 30 for making a provocative speech in the Aligarh Muslim University campus, inciting people against the CAA was remanded to 14 days judicial custody Saturday and later transferred to Mathura jail.

Anil Samania, the Circle Officer (Civil Lines) said that Kafeel Khan was brought here late Friday evening and was produced before the remand magistrate. The magistrate, in turn, sent Kafeel Khan to 14 days judicial custody.

The doctor was first sent to the Aligarh jail, but within an hour, he was transferred to Mathura jail, the official said.

The Uttar Pradesh police had on Thursday obtained transit remand for Khan, who was arrested in Mumbai for making a provocative speech on December 12 near Bab-e-Syed Gate outside the Aligarh Muslim University in front of over 600 students protesting against the new citizenship law. Activist Yogendra Yadav was the other speaker at the event.

Read: Controversial doctor Kafeel Khan arrested in Mumbai for his hate speech at AMU during anti-CAA protest

An FIR was filed against Kafeel for attempting to vitiate the peaceful atmosphere and disturb communal harmony. The FIR was registered under section 153-A (Promoting enmity between different groups on ground of religion) of IPC on the 13th of December.

In his speech, the controversial doctor Kafeel had said, “Mota Bhai (Home Minister Amit Shah) is teaching everyone to become Hindu or Muslim but not a human being. He is a murderer whose clothes are foul with blood. He does not believe in the constitution since the RSS came into existence. The CAB makes Muslims a second category citizen and subsequently, they will be harassed with the implementation of the NRC.”

Kafeel is further alleged to have said, “This is a fight is for our existence. We have to fight”. He also said that students in RSS schools are being taught that those who have beards are terrorists. He reportedly added, “through the CAB, the government has told us that India is not ‘our’ country.”

Read: Spreading misinformation, violating suspension orders: UP govt to probe fresh allegations on Dr Kafeel Khan

On the night of December 15, Delhi’s Jamia Nagar and AMU had seen violent riots breaking out. UP police had stated that despite the proctoral team’s attempt, many students had scaled the gates and had come outside to clash with the police and pelt stones.

Kafeel Khan is one of the accused in the BRD Medical College and Hospital children’s death case in Gorakhpur. He had taken to social media to spread false news that he had been given a ‘clean chit’ in the 2017 case in a departmental inquiry. The Uttar Pradesh government had in October initiated a fresh inquiry against him for spreading misinformation in the media and forcibly entering a hospital and trying to treat patients during his suspension period.

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