Employees who benefit from rent-free accommodation should pay heed to these new regulations, especially if they are in the higher salary brackets.
The income tax department has also launched a faceless e-assessment scheme to eliminate interface between an assessing officer and a taxpayer.
While there has been no official confirmation, some sources said the CRS informed in its report that the accident occurred due to human error on the part of on-duty officials in the Signalling and Telecom Department as well as the Traffic Department.
The construction of the three-storeyed Ram temple in Ayodhya will be completed by December this year, temple construction committee chairperson Nripendra Misra said on Thursday. The sprawling temple complex will also have other structures.
The undistributed funds totalling over Rs 25,000 crore lying with the capital markets regulator Sebi's account have come back into focus after the demise of Sahara Group's chief Subrata Roy. Roy passed away in Mumbai on Tuesday night at the age of 75 after battling a prolonged illness. He faced multiple regulatory and legal battles in connection with his group firms that were accused of circumventing regulations with ponzi schemes, allegations his group always denied.
Maintaining that the INDIA alliance is for the 2024 Lok Sabha elections and not for assembly polls in any state, the Congress on Friday asserted that the opposition bloc of 27 parties exists and will fight together.
Universities and higher education institutions (HEIs) have been asked to ensure that the admission process for undergraduate courses begins only after the declaration of results by the Central Board of Secondary Education (CBSE), Indian Certificate of Secondary Education (ICSE) and all state boards.
'This creates not only false hopes, it creates confusion all over to students who are preparing'
Senior tax officials were told to focus on cash collection from the arrears so that the target for FY23 was achieved and the overall revenue position improved.
The government earned Rs 7.42 lakh crore as direct taxes in 2015-16, a 66 per cent increase from Rs 4.45 lakh crore in 2010-11
Yadav, who returned from the national capital on Thursday after a trip that lasted three days, asserted that there was "nothing new" in the summons, even as he alleged that the central agencies were acting as per the directions of the ruling Bharatiya Janata Party.
A number of persons fainted after experiencing 'burning sensation' in their throat and chest. Many people who were asleep woke up in panic and scurried out of their homes and alerted neighbours and all of them soon reached the main roads unsure of what to do.
The step had been taken to lend the required 'authenticity' to electronic communications.
The court said the modalities of the survey will be discussed at the next hearing on December 18.
A new law that defines how companies should process users' data came into force with the President giving assent to the Digital Personal Data Protection (DPDP) Act passed by Parliament in the just-concluded monsoon session. The law arms individuals with greater control over their data while allowing companies to transfer users' data abroad for processing, except to nations and territories restricted by the Centre through notification. It also gives the government power to seek information from firms and issue directions to block content.
In a letter to general managers of all zones, the Railway Board has directed that a safety drive should be launched immediately with special focus on all 'goomties' (rooms along tracks) housing signalling equipment within station limits.
Khan asserted that he will not allow the central government to take over the waqf properties.
He says current arrangement is working fine.
According to the apex court, the disclaimer should say that 'there is no authenticated data to back up the suggestion on figure of conversion and the film represents the fictionalised version'.
The Central Board of Direct Taxes (CBDT) has proposed a new common income-tax return (ITR), with greater focus on disclosing income from virtual digital assets or crypto assets and foreign equity and debt instruments held by resident Indians. For non-resident Indians, the draft ITR seeks exhaustive details ranging from nature of business, permanent establishment (PE), business connection, whether the entity has significant economic presence (SEP) in India, along with the number of users in India. The ITR protocol for NRIs could widen the scope of the SEP principle that was introduced in the Finance Bill 2018-19, and the explicitly defined 'business connection' to include provision of download of data or software, if aggregate payments from such transactions exceed a prescribed amount, or if a multinational's interaction is with a prescribed number of users.
The income tax department will share PAN and bank account details of any entity with 10 investigative and intelligence agencies, including the CBI and NIA, under the integrated counter-terrorism platform NATGRID, according to an official order.
Amid the growing chorus against black money and the government's efforts to pull the plug, Union Law Minster M Veerappa Moily has suggested Finance Minister Pranab Mukherjee to completely overhaul the tax administration.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
'Not even a single rupee from the electoral bonds should be allowed to be used in the election.' 'If it is used in the election, it will taint India's electoral process itself.'
The Allahabad high court reserved its judgment on Friday in a petition challenging the maintainability of a suit seeking 'restoration' of a temple at the site of the Gyanvapi mosque in Varanasi.
The Election Commission has deployed 36 observers for monitoring the flow of illegal cash and other inducements during the upcoming assembly polls in Meghalaya, Nagaland and Tripura. The officials have been deputed by the Central Board of Direct Taxes (Income Tax department) and Central Board of Excise and Customs (Customs and Excise department) and will act as Election Expenditure Observers, a senior Revenue department official said.
Crypto exchanges have been asked to furnish details this month itself.
The case pertains to an alleged scam in the Sahakari Sakhar Kharkhana (co-operative sugar factories) and Sahakari Soot Girnis.
The CBI has charged the accused under Indian Penal Code Section 304 part II (culpable homicide not amounting to murder), Section 34 read with 201 (common cause read with destruction of evidence) and 153 of the Railways Act.
The Central Information Commission has directed the Central Board of Secondary Examination to allow inspection of class 10th and 12th school records of Union Minister Smriti Irani, rejecting CBSE's contention that it constituted "personal information".
The reasons are too private to be discussed at a round table, listed out during a seminar, or uncovered in an academic course. A proud but insomniac connoisseur murmuring in his sleep may do a better job of explaining the phenomenon than an expert on a podium. Sreehari Nair airs his thoughts.
At the outset, the bench asked petitioner Mamta Sharma whether she has served the copy of the plea to the counsel representing the Central Board of Secondary Education.
With Delhi recording air pollution levels seven to eight times above safe standards on Monday, the city government announced the return of its flagship odd-even scheme after four years anticipating further deterioration of air quality post-Diwali.
The government has already sanctioned Rs 4,200 crore for upgradation of information technology infrastructure of Central Board of Direct Taxes (CBDT) for processing returns, refunds, faceless scrutiny and verification.
The government has approved 8.1 per cent rate of interest on employees' provident fund (EPF) deposits for 2021-22 -- an over four-decade low -- for about five crore subscribers of retirement fund body EPFO. Earlier in March this year, the Employees' Provident Fund Organisation (EPFO) had decided to lower the interest on provident fund deposits for 2021-22 to 8.1 per cent from 8.5 per cent provided in 2020-21. According to an EPFO office order issued on Friday and reviewed by PTI, the Ministry of Labour and Employment has conveyed approval of the central government to credit 8.1 per cent rate of interest for 2021-22 to each member of the EPF scheme.
The Supreme Court on Friday sought replies of the West Bengal and Tamil Nadu governments on a plea of the producers of The Kerala Story challenging the ban in the two states.
The apex court rejected an appeal challenging a July 10 decision of the Allahabad high court which had also dismissed the plea finding no error or illegality in the order of a Mathura civil judge who had decided to first hear the issue of maintainability of the suit as raised by management committee of the mosque.
The 8.1 per cent interest rate was recommended by the Central Board of Trustees after its meeting in Guwahati under the chairmanship of Union Labour and Employment Minister Bhupendra Yadav, a labour ministry press statement said.
Taxpayers who have not e-verified their ITRs for 2019-20 fiscal can complete the verification process by February 28, 2022, as the Income Tax department has given a one-time relaxation to assessees. As per law, an income tax return (ITR), filed electronically without a digital signature, has to be verified electronically through Aadhaar OTP, or net-banking, or code sent through demat account, pre-validated bank account and ATM within 120 days of filing the return. Alternatively, taxpayers can send a physical copy of the ITR filed to the Centralised Processing Centre (CPC) office in Bengaluru.
As taxpayers face technical glitch on the GST portal, the government on Tuesday said it is considering extending the April tax payment deadline and has directed Infosys for early resolution of the problem. The Central Board of Indirect Taxes and Customs (CBIC) said a technical glitch has been reported by Infosys in generation of April 2022 GSTR-2B and auto-population of GSTR-3B on portal. "Infosys has been directed by Govt for early resolution. Technical team is working to provide GSTR-2B & correct auto-populated GSTR-3B at the earliest," the CBIC tweeted.
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