While Panama and Paradise Papers had majorly focused on foreign entities created by entities, corporates or individuals overseas, Pandora is about the new method adopted by wealthy elites by setting up multiple layered complex trust structures.
Lack of clarity on data-sharing persists, public health experts sceptic about the pilot that was run in six Union territories as benchmark for national roll-out
'Demand is wonderful. We have crossed 10 million on many days.' 'The Swedish trade commissioner recently said, "You guys are vaccinating the entire Sweden in one day".'
Amit Shah's net worth grew 32 per cent to Rs 37.91 crore, mainly due to 80 per cent appreciation in the market value of his securities.
With the maximum dose gap of four months for Covishield, a large part of the population would not even be eligible for the second dose by the end of this year, report Ruchika Chitravanshi and Ishaan Gera.
The government said it had received many representations seeking extension of time citing many difficulties due to the second wave of Covid-19 and the subsequent lockdowns. MCA has asked the registrar of companies to approve the extension of the time limit to hold the AGM.
The finance ministry will kick-start the exercise to prepare the Union Budget for financial year 2022-23 (FY23) from October 12, according to an official notification released on Monday. "The pre-Budget meetings as well as the meetings to discuss the revised estimates will start from October 12 and will continue till the second week of November," according to the Budget circular of the Department of Economic Affairs' Budget Division. The Union Budget is expected to be announced on February 1, as has been the practice of the past few years.
The Central Board of Direct Taxes (CBDT) has extended various tax returns filing deadlines till December 31 this year but it will continue to levy interest on delayed payments made after July 31, the original due date. Officials say tax payment has to be done through net banking, and the assessee doesn't need to use the e-filing portal, which has been facing glitches. So, taxpayers have to bear the interest payment liability of 1 per cent per month on the outstanding tax for those who filed a return after July 31.
'When you plot the growth, -- 7.5 per cent for Q2, 0.4 per cent for Q3, 1.6 per cent for Q4 and 20.1 per cent for Q1 now -- all you see is a 'V'.' 'You don't see any other alphabet in the shape there.'
The income-tax (I-T) department is working on integrating the new e-filing portal with stock exchanges to help tax authorities track trade transactions, including futures and options. The integrated system will look at discrepancies between the data disclosed by an assessee and match it with data fetched from stock exchanges, using artificial intelligence, said two officials in the know. This will help detect and red-flag such matters, particularly those related to non-filers of income-tax return (ITR).
Ahead of the second instalment of advance tax, the revenue department is scrutinising entities that have registered negative growth in their tax deducted at source (TDS) payments, even when they reported healthy advance tax payments. According to sources, taxmen have observed a mismatch in TDS payments from at least 60-65 small to mid-sized companies. Officials said it is unusual for TDS to not increase, given the improved turnover and profits - if higher advance tax payments are any indication.
The finance ministry has initiated an internal survey of the faceless regime to examine its effectiveness.
While some experts believe that a large part of India is still vulnerable to the virus that could trigger a third wave, others feel the country is not likely to be engulfed by another deadly wave unless a new variant emerges.
The government is exploring legal options, including bringing an Ordinance, to tackle the problem of income-tax litigation on reassessment notices under old, time-barred norms, according to official sources. This has come in the wake of writ petitions filed by companies and individuals in recent weeks to challenge the validity of the notices issued by the tax department between April 1 and June 30 and under the old norms.
Now that almost 10 infrastructure ministries have submitted a fresh list of their core infrastructure assets, the government has realised it stands to make much more money from asset monetisation than previously thought. Two persons in the government said it stood to garner over 30 per cent more than the earlier estimates of Rs 2.5 trillion over the next four years under the National Monetisation Pipeline (NMP). The NMP, which is being prepared by Niti Aayog, is in the advanced stages of finalisation and is expected to be unveiled in August.
The death of a 11-year-old boy due to 'bird-flu', even before the devastating effects of the second Covid wave have waned, has alarmed the medical fraternity though they assert that human-to-human transmission of H5N1 virus is extremely rare. The event has also put the Rs 90,000 crore domestic poultry industry which was seeing some uptick in demand after months of low sales last year into a spot of bother, as any curb on sale or production of eggs or chicken could have a devastating impact on its revenues. It is estimated that around 60 million people are directly impacted by the poultry sector in India. H5N1 virus, also commonly known as bird flu, is known to spread from chickens but other birds such as ducks and crow are also carriers of the virus.
The much-anticipated cryptocurrency bill, however, is missing from the list, reports Shrimi Choudhary.
'We have the technical expertise, and international collaborations. We also have robust real-time data. We are a university of pandemic management. If the ministry neglects the role of NCDC, it is the loss of the country'
Maintaining a rapid pace of the vaccination drive and quickly bridging healthcare infrastructure gaps across both urban and rural areas would emerge as the most sustainable stimulus for durable recovery of the Indian economy, says a report by the department of economic affairs.
The probe agency is learnt to have taken possession of multiple physical and digital records during a search operation conducted on the premises of the South Korean firm in Delhi and Mumbai this week.
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