US, UK warplanes launch new airstrikes on Yemeni capital

News Network
December 28, 2024

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American and British aircraft have conducted new airstrikes on the Yemeni capital, prompting Ansarullah to pledge a response.

The strikes on Friday focused on the Ma’een District in Sanaa, with no casualties reported.

"I heard the blast. My house shook," one Sanaa resident told AFP late Friday.

Israeli media promptly denied any involvement of the regime in these operations.

Nasr al-Din Amer, an official from the Ansarullah movement, emphasized that Yemen’s attacks against Israel will intensify and not decline.

Amer asserted that halting the aggression in Gaza is the only way to prevent further anti-Israel operations by the Yemeni army.

Israeli "aggression will only increase the determination and resolve of the great Yemeni people to continue supporting the Palestinian people", a Houthi statement said Friday.

This latest assault followed Thursday's Israeli aggression on Yemen’s infrastructure, including Sana’a's international airport which left six people dead.

Tens of thousands of people gathered in Sana’a Friday to protest against the Israeli strikes and express solidarity with Palestinians.

"The equation has changed and has become: (targeting) airport for airport, port for port, and infrastructure for infrastructure," protester Mohammed al-Gobisi said.

"We will not get tired or bored of supporting our brothers in Gaza."

On Friday, the demonstrators staged rallies in the capital Sana’a, and the provinces of Sa’ada, Hudaydah, Hajjah, and al-Mahwit under the slogan “We firmly stand with Gaza, the glory…without limits and without red lines,” carrying the Yemeni and Palestinian flags.

Similar rallies also took place in the provinces of Raymah, ʽAmran, Dhale, Lahij, Ma’rib, al-Bayda, Ta’izz, Ibb, and Dhamar.

The protesters voiced their solidarity with the Palestinians in defiance of the Israeli strikes on Yemen, chanting “We will continue to bomb you…escalation for escalation.”

They hailed the latest Yemeni attacks conducted earlier in the day against Israeli targets, calling on the armed forces to intensify their retaliatory operations.

Israel launched a genocidal war on Gaza on October 7, 2023, after the Palestinian resistance movement Hamas waged the surprise Operation Al-Aqsa Storm against the occupying entity in response to the Israeli regime's decades-long campaign of bloodletting and devastation against Palestinians.

The regime’s bloody onslaught on Gaza has so far killed at least 45,436 Palestinians, mostly women and children, and injured more than 108,038 others. Thousands more are also missing and presumed dead under rubble.

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News Network
February 1,2025

The Union Budget 2025 has brought significant revisions to the income tax structure, aiming to address long-standing demands of middle-class taxpayers, particularly salaried individuals. The newly proposed tax slabs and rebate enhancements are expected to provide substantial relief, making taxation more streamlined and beneficial for the majority.

REVISED INCOME TAX SLABS

The proposed tax slabs under the new regime are as follows:
•    Income up to Rs 4 lakh – Nil
•    Rs 4-8 lakh – 5%
•    Rs 8-12 lakh – 10%
•    Rs 12-16 lakh – 15%
•    Rs 16-20 lakh – 20%
•    Rs 20-24 lakh – 25%
•    Above Rs 24 lakh – 30% (plus applicable cess and surcharge)

Currently, the tax slabs under the new regime are:
•    Income up to Rs 3 lakh – Nil
•    Rs 3-7 lakh – 5%
•    Rs 7-10 lakh – 10%
•    Rs 10-12 lakh – 15%
•    Rs 12-15 lakh – 20%
•    Above Rs 15 lakh – 30%

ENHANCED REBATE UNDER SECTION 87A

The budget proposes an increase in the income cap for availing the rebate under Section 87A from Rs 7 lakh to Rs 12 lakh, while the rebate amount will rise from Rs 25,000 to Rs 60,000. This effectively means that individuals earning up to Rs 12 lakh annually (or Rs 1 lakh per month) will not have to pay any income tax under the new regime, excluding special rate income such as capital gains.

Additionally, salaried taxpayers can benefit from the standard deduction of Rs 75,000, pushing the tax-free income threshold to Rs 12.75 lakh.

Recent data suggests that 78% of taxpayers have already transitioned to the new tax regime. With these latest reforms, the government anticipates an even greater shift towards the default new regime.

TDS AND TCS RATE RATIONALISATION

The government has proposed selective rationalisation of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) rates, which include:

•    Senior Citizens’ Interest Income – The tax deduction threshold will be increased from Rs 50,000 to Rs 1 lakh.

•    TDS on Rent – The annual exemption cap will rise from Rs 2.40 lakh to Rs 6 lakh.

•    TCS on Foreign Remittances – The threshold cap will increase from Rs 7 lakh to Rs 10 lakh.

Additionally, the higher 20% TDS deduction will now apply only in cases where the PAN is inoperative, ensuring that compliant taxpayers do not face undue deductions. These adjustments are expected to ease compliance burdens for taxpayers.

UPDATED TAX RETURN FILING WINDOW EXTENDED TO 4 YEARS

Currently, taxpayers can file an updated return within 24 months from the end of the relevant assessment year, provided it results in additional tax payments. The new proposal extends this window to 48 months, offering taxpayers more flexibility to rectify their tax filings and remain compliant.

The Union Budget 2025’s tax reforms reflect a concerted effort to reduce the financial strain on taxpayers while simplifying the taxation process. These changes mark a significant shift in the government's approach to personal taxation, with a clear emphasis on inclusivity and fairness.

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Agencies
February 7,2025

Washington DC: In a big relief for Indian students and professionals living in the United States on visas and awaiting green cards, a federal judge in Seattle has indefinitely blocked President Donald Trump's executive order that seeks to end birthright citizenship. Slamming the order, the court reportedly said Trump is trying to skirt the rule of law to play "policy games" with the Constitution.

US District Judge John Coughenour's preliminary injunction is the second major legal blow to Trump's efforts to alter the US law as part of a broader immigration crackdown after a federal judge in Maryland issued a similar ruling.

"It has become ever-more apparent that to our president, the rule of law is but an impediment to his policy goals. The rule of law is, according to him, something to navigate around or simply ignore, whether that be for political or personal gain," Judge Coughenour said during a hearing on Thursday in Seattle, according to a report by CNN.

"In this courtroom and under my watch, the rule of law is a bright beacon which I intend to follow," Coughenour continued.

The judge noted that the Constitution is not something with which the government can play policy games. "If the government wants to change the exceptional American grant of birthright citizenship, it needs to amend the Constitution itself," he stressed.

The new nationwide preliminary injunction issued in Seattle expands a previous short-term block Coughenour issued against the President's order days after he signed it. It came a day after US District Judge Deborah Boardman in Maryland issued another preliminary injunction against Trump's order on Wednesday.

Both orders apply nationwide and will remain in effect while the case proceeds. The Justice Department said late Thursday it was appealing the Seattle court's order. The appeal of the preliminary injunction will reportedly go to the 9th US Circuit Court of Appeals, a left-leaning appeals court, a move that could eventually land the issue before the US Supreme Court.

How Does Trump's Order Affect Indians In America?

Soon after taking for the second time on January 20, Trump signed an executive order ending birthright citizenship in the United States. The order denies US citizenship to children born on American soil to parents who are not permanent residents of the United States.

The order caused concerns among the Indian community in the US, particularly those living on temporary visas like H-1B (work visas), L (intra-company transfers), H-4 (dependent visas) and F (student visas). As per Trump's order, children born to parents on temporary visas would not get citizenship unless one parent was a US citizen or a green card holder.

Without the right to birthright citizenship, children of these immigrants are at risk of losing access to in-state tuition rates, federal financial aid and scholarships, significantly impacting their educational prospects. The order caused many expectant Indian parents to rush for pre-term deliveries before February 20-- the deadline fixed by Trump's order.

Trump's order also brought anxieties for Immigrants caught in green card backlogs, as their children born outside America could be forced to self-deport upon turning 21 unless they secure another visa.

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Agencies
February 3,2025

The Indian rupee plummeted to a historic low of 87.29 per dollar on Monday. This decline is attributed to escalating trade tariffs imposed by US President Donald Trump amid global market uncertainties.

Having already depreciated over 1.5% this year, the rupee's latest tumble is regarded as a repercussion of tariff measures enforced by the US government. The currency opened with a substantial gap-down of 43 paise, hitting a low of 87.29 before rebounding to 87.13 following a Reserve Bank of India (RBI) intervention. 

Currency expert KN Dey explained to ANI that the tariff war, ignited by the US against Canada, Mexico, and China, is responsible for the rupee's decline. KN Dey noted, "Rupee opened with a gap of 43 paisa which was one of the highest gap openings, touched a new low of 87.29, but is now trading at 87.13 due to RBI intervention."

The situation remains fluid as President Trump has also hinted at possible tariffs on BRICS nations, including India. KN Dey cautioned, "Though Trump has been threatening BRICS countries also, it remains as to when he would press the button. This could be a knee-jerk reaction on the Rupee, but it's better to wait and watch for a couple of days." 

On a broader scale, this pressure on the rupee is mirrored by a strengthening US dollar against global currencies. Monday saw the Canadian dollar and Mexican peso dip to multi-year lows and the Chinese yuan weaken to a historic low. The US government announced an imminent 25% tariff on imports from Canada and Mexico and a 10% tariff on Chinese goods.

Market analysts suggest this may be a short-term reaction, with investors advised to observe how circumstances develop. The unfolding situation is anticipated to shape market movements significantly.

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