Latest news with #Hegde
Time of India
5 hours ago
- Business
- Time of India
Push to declare Pumpwell, Padil as critical resilience zones
Mangaluru: In a push towards transforming Mangaluru into a climate-smart, flood-resilient coastal city, KPCC member and former secretary S Mohanadass Hegde submitted a comprehensive masterplan titled 'Mangaluru Flood-Free 2030: Pumpwell and Padil Underpass Resilience Initiative' to district minister Dinesh Gundu Rao. Hegde urged the state govt to declare Pumpwell and Padil, two of the city's flash flood-prone stretches, as critical resilience zones (CRZ), citing the recurring nature of waterlogging and infrastructure failure in these areas. The strategic roadmap lays out an ambitious yet actionable vision to eliminate flooding at major underpasses by 2027, backed by real-time early warning systems, green infrastructure such as rain gardens, bioswales, and permeable pavements, and community-led disaster mitigation strategies, Hegde said. The plan proposes a budget of Rs 51.5 crore for phased implementation, with potential collaborations identified with Smart City Mission, KUIDFC, CSR partners, and academic institutions like NITK and KSNDMC. Hegde recommended the appointment of a Special MCC Task Force to fast-track the initiative and commissioning of a detailed project report (DPR) through NITK or IISc on priority. He also called for a city-wide hackathon in 2025 to crowdsource innovative urban flood solutions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo He said that the initiative can serve as a model for urban flood management not just in Karnataka, but across India. "With coordinated action, Mangaluru could become a pioneering example of how cities can tackle the twin challenges of climate change and rapid urbanisation through integrated, tech-enabled, and participatory planning," Hegde added.
Time of India
6 days ago
- Politics
- Time of India
41st anniversary of The Times of India, Bengaluru: Many twists and turns from Bangalore to Bengaluru
S Suresh Kumar In The Past 4 Decades, Bengaluru's Political Climate Has Changed. Today, The City Is A Bundle Of Challenges Imperilled By A Lack Of Political Vision And Conviction To Make It Among The Global Best 1984. The year meant many things to many people. But change was the only constant. It brought in tough-to-conceal literary changes across the world, in Indian politics and also in Bangalore's mediascape. The year in discussion was also the title of George Orwell's dystopian novel published at least 35 years ago. You Can Also Check: Bengaluru AQI | Weather in Bengaluru | Bank Holidays in Bengaluru | Public Holidays in Bengaluru Incidentally, I first read the novel on totalitarianism in Bangalore Central Jail where I was imprisoned for 15 months during Emergency. S Venkataram, a socialist leader, had referred the book to me. That was also the year The Times of India started its Bangalore edition. Before that, I used to rely on the Sunday edition of TOI Mumbai; mirthful cartoons of RK Laxman are still green in my memory. That was also the year India lost its Prime Minister Indira Gandhi in a ghastly act of Sikh militancy. A year before, Karnataka welcomed its first non-Congress govt led by Ramakrishna Hegde. In the first assembly elections since BJP was formed in 1980, the party won 18 seats, giving all of us big hope. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like An engineer reveals: One simple trick to get internet without a subscription Techno Mag Learn More Undo Our leader Atal Bihari Vajpayee announced support to the nonCongress regime. Hegde's government came up with workable blueprints for introducing panchayat raj institutions taking democracy to the grassroots. Hegde's ministerial colleague, Abdul Nazir Saab, left a deep imprint as rural development & panchayat raj minister by digging tubewells to provide drinking water in villages. People still fondly remember him as 'Neer Saab'. After 1970, successive state governments didn't hold elections to then Bangalore City Corporation (BCC) for unstated reasons. One of Hegde's earliest decisions was to hold elections to urban local bodies. Within months of Hegde as CM, the BCC elections were held in August 1983. The BJP decided to field me from then Sriramapura ward, part of Rajajinagar assembly constituency. I was reluctant to enter the electoral politics as I had just started my career as an advocate under famous senior advocate SV Raghavachar. I acceded to BJP's request and won in my first attempt itself. My total campaign expenditure was Rs 2,400 – yes, you read it right! In the 85-member BCC, the BJP had four members -- Ramachandra Gowda, MC Ashwath Narayan, Srinivas Murthy and I. We were the first public representatives from BJP as the party did not have any MP, MLA or MLC yet. I still remember the names of mayors of that period: K Sunder Raj, BKM Gowda, ML Subbaraju, Dr Seshadri and Lawrence Fernandes (younger brother of George Fernandes). BCC was a hive of activities, its meetings were serious and carried a sense of purpose. Members from DMK, AIADMK and CPI were equally active. Corporators' popular modes of transport were bicycles and buses. Bangalore – as it was called then – had its quota of political stalwarts: Prof A Lakshmi Sagar, VS Krishna Iyer, M Chandrasekhar, and Jeevaraj Alva. CM Hegde represented Basavanagudi in the assembly. They thought of the future of Bangalore with the seriousness it deserved. Jayadeva Hospital was conceived and founded around this time. Unlike today, the relationship between corporators and MLAs was cordial regardless of political affiliation. During my first term as corporator between 1983 and 1988, my MLA was MS Krishnan, a powerful trade union leader from CPI. Respect was mutual. Though I was just 27 then, he used to treat me with love and affection. When he passed away in September 2000, I visited CPI's office Ghate Bhavan to pay my respects and participate in the funeral procession. In a slum area coming under my constituency (now part of RR Nagar), I had succeeded in getting possession certificates to its dwellers. The residents were so happy they wanted to name the area after me. But I refused and had it named it after MS Krishnan, who had sincerely worked to improve the place. In 1989, Janata Party lost to the Congress led by late Veerendra Patil after a series of scandals such as phonetapping, Revajeetu, and arrack bottling hit the government. In the 1985 Lok Sabha polls, Congress scored a big win on the back of a sympathy wave following the assassination of Indira Gandhi. In Karnataka, Congress won all but Bangalore South. Hegde, CM at that time, saw it as a vote against his government, dissolved the assembly and sought a fresh mandate. People returned Janata Party with a huge mandate. BJP tally slipped from 18 to two. In the 1989 polls, BJP's strength inched up to four. In the 1990 BCC elections, BJP upped its tally to eight. I became BJP bloc leader in BCC. The 1989-1994 period saw Congress replace two chief ministers. Rajiv Gandhi unceremoniously sacked Veerendra Patil through a media announcement at the Bangalore airport. Later, Patil's successor S Bangarappa stepped down to make way for M Veerappa Moily. This was also the period the Congress saw bitter internal fights and groupism. In the 1994 election, the Hegde-Gowda-led Janata Dal emerged victorious. With 40 seats, BJP was the principal opposition party and BS Yediyurappa led the bloc. KR Ramesh Kumar was my first speaker in the assembly. He encouraged young MLAs like me with opportunities to speak. Two years later, HD Deve Gowda went to Delhi as a proud PM from Karnataka, and JH Patel succeeded him as CM. Those days, the relationship between treasury benches and the opposition party was healthy. The infighting in the Dal government helped Congress come back led by SM Krishna, a suave and cultured politician. He had a clear vision for Bangalore. He faced tough times with the abduction of superstar Dr Rajkumar and drought, Cauvery tangles with Tamil Nadu and a contempt case in the Supreme Court. In 2004, Dharam Singh led the first JD(S)-Congress coalition regime, but that did not last long. In 2006, in a political coup, JD(S)-BJP formed a coalition government with HD Kumaraswamy as CM and BS Yediyurappa CM. The regime collapsed after 20 months. The brief era saw Siddaramaiah join Congress. In the 2008 midterm election, BJP emerged as the largest single party with110 seats. Yediyurappa formed the government relying on support from the independents. He became the first CM to introduce a separate budget for farmers. In the months that followed, DV Sadananda Gowda succeeded Yediyurappa, who was replaced by Jagadish Shettar. In 2013, Siddaramaiah led the Congress to victory. Five years later, JDS became the head of a coalition with Congress support. In 2019, Yediyurappa again became the CM and was succeeded by Basavaraj Bommai. In 2023, Siddaramaiah became CM for a second time and has earned the reputation of presenting the budget for a record number of times. In the past four decades, Bangalore has become Bengaluru, BCC turned Greater Bengaluru. The city no longer gets water from TG Halli, which once met a third of Bengaluru's needs. Instead, Cauvery is the source now. Today, our Bengaluru is a bundle of challenges imperilled by a lack of political vision and conviction to make it among the global best. The writer is a former education and law & parliamentary affairs minister of Karnataka
Mint
14-07-2025
- Business
- Mint
ITR filing: How to correctly report capital gains, CGAS withdrawal, buybacks
NEW DELHI : The income tax department has finally released the utilities for income tax return (ITR) forms 2 and 3, allowing individuals with capital gains, cryptocurrency investments, and business income to file their tax returns for 2024-25. Because of the delay in releasing these forms, the Central Board of Direct Taxes (CBDT) has extended the ITR filing deadline for the current assessment year from 31 July to 15 September. However, despite the extension, both taxpayers and tax professionals are facing significant difficulties due to the delay, said Prakash Hegde, a Bengaluru-based chartered accountant. Currently, only the offline Excel utilities for forms 2 and 3 are available, which means those who prefer filing their returns online will have to wait further. 'Many taxpayers, especially senior citizens and non-residents, are eager to file their returns to claim refunds. Tax professionals, meanwhile, are trying to shift focus to audit cases, whose deadline is 30 September, but are still catching up on pending ITR filings," Hegde noted. Even if you file ITR online, preparing your tax return based on the offline utilities would help. 'Taxpayers can download the latest utility and review the instructions for each schedule carefully to ensure they are well prepared," said Bhawna Kakkar, chartered accountant and founder, Kakkar & Co., Chartered Accountants. More disclosures Ashish Karundia of Ashish Karundia & Co. said the key changes are bifurcation of capital gains made before and after 23 July, capital loss on buyback transactions done after 1 October 2024, increase in the filing mandate of Schedule AL (assets and liabilities) to ₹1 crore, enhanced reporting of deductions such as house rent allowance, 80C, etc., and Schedule TDS (tax deducted at source) mapping with TDS sections. 'Unlike last fiscal, each TDS entry must include the section under which tax was deducted," said Karundia. The newly introduced TDS section code in Schedule TDS is prefilled in the latest ITR forms from details in Form 26AS and the annual information statement (AIS), said Alok Agrawal, partner, Deloitte India. 'However, taxpayers can manually edit the code from the options listed in the dropdown, if required. This requirement of quoting section code has been introduced to reduce mismatches and streamline the reconciliation process with Form 26AS and the AIS, for cases where the same payer has deducted tax under two different provisions of the law," he said. Kakkar pointed out that more details about home loans are also required to claim interest on them under Income from House Property. 'For instance, the sanction date is to be filled, which would require the sanction letter. But, the amount disbursed, and not sanctioned, is also to be disclosed, so you need the loan statement as well. Similarly, other details like balance as of 31 March and interest on loan too need a loan schedule and statement for accurate reporting." Apart from more disclosures, capital gains made before and after 23 July 2024 have to be reported separately. Reporting capital gains Equity assets sold on or before 23 July 2024 will be taxed at 20% for short-term capital gains (STCG) and 10% for long-term capital gains (LTCG). However, for those sold after this date, the LTCG rate is 12.5%. Kakkar said the ITR utility provides distinct sections or sub-schedules for these periods, ensuring accurate tax rate application on eligible capital gains. LTCGs from stocks and mutual funds are to be reported scrip-wise, but the information is not pre-filled in the forms this time either, so taxpayers will need to either manually fill in the data or upload a comma-separated values (CSV) file. 'At the time of advance tax calculations, we noticed that brokers are already giving statements classifying them into these two periods. So, reporting the transactions separately should not be a challenge," Kakkar said. STCGs on equity don't require scrip-wise details, and instead only the total sale amount and cost of acquisitionshould be mentioned. For property sales done after 23 July, sellers can choose between two methods to calculate LTCG tax: The new flat rate of 12.5%, without the benefit of indexation on the cost of acquisition, or the old rate of 20%with the indexation benefit. This gives sellers the flexibility to pick the option that results in a lower tax outgo. Most sellers would have already decided this while calculating advance tax, so reporting in the ITR form should be done accordingly. CGAS withdrawal after 23 July The requirement to split capital gains reporting also extends to unutilized amounts withdrawn from the Capital Gains Account Scheme (CGAS), where taxpayers temporarily park capital gains intended for reinvestment in property to claim benefits under Section 54 and Section 54F. In the updated ITR forms, a separate column has been introduced to indicate whether such withdrawals occurred before or after 23 July 2024. The forms have also clarified that funds withdrawn after 23 July will be taxed at the new 12.5% rate, though experts believe this may not be correct. Sonu Iyer, partner and national leader, people advisory services-tax, EY India, explained that the unutilized balance in the CGAS is deemed to be LTCG in the year in which the limitation period expires. 'Section 112(1)(a)(ii) says that LTCG should be taxed at 20% for any transfer that takes place before 23 July 2024 and 12.5% for any transfer that takes place on or after 23 July 2024. The date of transfer here should be construed as the date of transfer of the original property. Hence, the withdrawal from CGAS per se does not result in transfer," said Iyer. "So, the 12.5% tax rate applied by the excel utility appears to be a deviation from the technical position, as the tax rate should not be the date of withdrawal or expiry of the CGAS period and rather is based on the original date of transfer, which should make the tax rate 20% in this case," she added. Share buyback loss provision A new feature in Schedule CG of ITR-2 and 3 forms addresses the treatment of share buyback transactions. Following 1 October 2024, the tax responsibility for share buybacks by listed companies has shifted. Shareholders can now claim a capital loss on such buybacks, provided the income from the buyback is correctly reported as dividend income. 'In effect, the ITR form expects the sales consideration to be shown as nil in the capital gains schedule since the company already paid buyback tax and the equivalent amount to appear as taxable income elsewhere. This dual disclosure will activate the allowable loss," Kakkar explained. Earlier, individual taxpayers had no way to claim losses from share buybacks, as the entire tax treatment was handled at the company level. With the new rules, eligible taxpayers can now use these buyback-related losses to offset capital gains, which may help lower their overall tax liability. 'Taxpayers will need to be diligent in linking their buyback entries across schedules to avail the benefit correctly," Kakkar said.
India Today
11-07-2025
- Entertainment
- India Today
Pooja Hegde steals the show as Monica in Rajinikanth's Coolie second song
Rajinikanth's 'Coolie' latest release 'Monica' is a vibrant dance number, featuring Pooja Hegde. The song, which released on Friday, showcases Hegde's captivating presence, complemented by Anirudh Ravichander's energetic beats. This track follows the successful reception of the previously released single 'Chikitu', further increasing anticipation for the in a port area, the song presents Pooja Hegde alongside Malayalam actor-director Soubin Shahir. Notably, Shahir's dynamic dance moves match Hegde's grace, adding to the song's visual appeal. The dance sequence is speculated to be a part of the film's intriguing narrative, involving a character linked to Nagarjuna's the song lyric video here: Penned by Vishnu Edavan, with energetic vocals by Subhashini and Anirudh, the song 'Monica' adds to the film's allure. 'Coolie' is scheduled for a grand release on August 14, 2025. The movie will share its release date with Hrithik Roshan and NTR's 'War 2', promising a competitive box office by Sun Pictures, the film features an ensemble cast including Aamir Khan, Sathyaraj, Upendra, and Shruti Hassan. The diverse cast and fresh storyline are expected to attract a wide audience, making 'Coolie' a significant contender in the year's film releases.- EndsMust Watch
The Hindu
07-07-2025
- The Hindu
Former BJP MP questioned in road rage case
The Dobspet police on Monday questioned former MP Anantkumar Hegde in a road rage case where he was booked as an accused along with his gunman and driver last week. Mr. Hegde had been arrested and later released on bail along with two others including car driver Mahesh and gunman Sridhar on the day of the incident. He appeared before the police for questioning and recorded his statement on Monday. The Dobspet police registered an FIR against the trio following a complaint by Saif Khan, a businessman, who accused them of assaulting him and manhadling his family members over a road rage incident. The incident occurred when Mr. Khan driving the car overtook Mr. Hegde's XUV multiple times. Irritated by this Mr. Hegde's XUV allegedly intercepted Mr. Khan's vehicle on the outskirts of Bengaluru. The driver of Mr. Hegde's car and his gunman dragged him out and allegedly assaulted him. The family members of Mr. Khan, including women were also manhandled when they tried to intervene, he alleged. In the attack Mr. Khan lost his tooth and was left with a bloodied mouth. He later called the police and filed a complaint accusing Mr. Hegde of instigating the attack after he identified him as a 'Muslim'.
