The appointment of new expenditure secretary comes a month-and-a-half ahead of the Budget for 2020-21 to be presented on February 1.
President Ram Nath Kovind on Monday appointed Chandra as 24th CEC on Monday.
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.
Markets regulator Sebi and the Directorate of Revenue Intelligence (DRI) are probing some Adani Group companies for alleged non-compliance with rules, the government told Lok Sabha on Monday. Minister of State for Finance Pankaj Chaudhary in a written reply to a question said accounts of three of the six Mauritius-based funds, that have invested most of their money in Adani Group firms, were frozen in 2016 over the issuance of Global Depository Receipt (GDR) by certain listed firms. No freeze was ordered for their holding in other firms.
The Supreme Court on Friday directed the managing directors and directors of telcos and other firms to explain why contempt action be not taken against them for non-compliance of its order to pay adjusted gross revenue (AGR) of Rs 1.47 lakh crore to the department of telecommunications.
The Union Cabinet on Wednesday approved revision in guidelines for providing direct to home (DTH) services in the country under which licenses would be issued for 20 years, Union minister Prakash Javadekar said. The Union Cabinet has also approved 100 per cent FDI in the DTH broadcasting services sector, Javadekar said, adding that while the commerce ministry had spoken of 100 per cent FDI in the DTH sector, the guidelines of the information and broadcasting ministry needed to be changed.
The divestment target remaining unchanged, from the 2019-20 interim Budget, this year means the Centre will now have to depend on non-tax revenue sources like dividends from the RBI, PSBs and PSUs, as there are real concerns of a tax revenue shortfall. The fiscal deficit target of 3.4% of GDP for 2019-20 is likely to be retained as well.
The $8.5 billion TVS Group received final approval for a family resettlement on February 4 from the National Company Law Tribunal (NCLT). It is an arrangement that is noteworthy because unlike many other corporate settlements this one was sorted out amicably and without any open conflicts.
Former CAG Rajiv Mehrishi says Centre has held back a report he submitted to the President, to end what he called "a nightmare of accounts that militates against good governance".
In 2019-20 Budget, the government had increased surcharge from 15 per cent to 25 per cent on those with taxable income between Rs 2-5 crore and from 15 per cent to 37 per cent for income above Rs 5 crore. Following the increase, the effective income tax rate for individuals with a taxable income of Rs 2-5 crore will go up from 35.88 per cent to 39 per cent and for those above Rs 5 crore it would go up to 42.7 per cent.
The Department of Personnel and Training (DoPT) has decided to amend the All India Services (discipline and appeal) Rules, 1969, applicable to IAS, IPS and IFS officers, in this regard.
The Centre had earlier urged the top court that up to 20 years be given to telecom companies for the payment of dues in staggered manner.
If the fear of ED could drive the powerful people of today to be honest or at least be minimally corrupt, will it not be a great thing for our nation?, asks Sudhir Bisht.
The Allahabad high court on Monday dismissed a petition filed against the allotment of land in Ayodhya's Dhannipur village for the construction of a mosque, following the Supreme Court verdict in the Ram Janmabhoomi-Babri Masjid dispute.
Elite sport in Britain returned without fans last month after being shut down for three months due to the COVID-19 pandemic.
There were no reports of loss of life due to the cyclone which uprooted trees. Incidents of wall collapse were reported from some parts of Tamil Nadu, state Revenue Minister R B Udhayakumar said.
The mandatory use of the Indian flag on SCI's ships has been a bone of contention with prospective buyers, on account of the costs it will entail in terms of taxation and vessel registration.
The highest collection target has been given to Mumbai at Rs 4.39 trillion, followed by Delhi and Bengaluru.
A rise in import duty could be a reason for increase in illegal consignments, say experts.
The government should convert Vodafone Idea's (Vi) debt into equity to avoid a duopoly in the telecom sector, Deutsche Bank Research said in its report on Monday. This, the bank suggested, would be the only viable solution in the backdrop of the Supreme Court dismissing the telecom company's application for recomputation of adjusted gross revenue (AGR) dues.
A foreign national has been arrested by Pakistani security agencies in connection with the car bomb blast outside the house of the 2008 Mumbai terror attack mastermind and chief of the banned Jamat-ud-Dawa (JuD) Hafiz Saeed in Lahore, according to media reports.
A Dubai trip plus Apple iPhone 12 is cheaper than buying the phone in India. Various models of the iPhone 12 Pro and Max are cheaper in Dubai by up to Rs 35,000 owing to higher GST, Customs duty in India.
Stalin has given due respect to seniority in the pecking order, but has also taken into consideration the demands of individual ministries and the suitability of individuals, observes N Sathiya Moorthy.
The Centre on Tuesday permitted 20 states to raise Rs 68,825 crore through open market borrowings to bridge the GST revenue shortfall.
During the first quarter ended June, gross tax collections fell 31 per cent driven down by a massive 76 per cent plunge in advance tax mop-up, as the country was in a full lockdown due to the pandemic.
The implementation of the NEP and four-year undergraduate programme were approved by the Standing Committee on Academic Matters and the Academic Council last week.
The Supreme Court on Wednesday pulled up the Centre and telecom companies for doing self-assessment or reassessment of the adjusted gross revenue (AGR) dues fixed by the apex court in its verdict given on October 24 last year. The top court, which was also anguished by frequently published newspaper articles on the AGR issue, said all managing directors of telecom companies will be personally responsible and held for contempt of court for any such future write-ups hiding the truth.
'While it is very easy to blame the chief minister, the bureaucracy should be held accountable. Chief ministers come every five years but bureaucracy is a permanent setup. The bureaucracy is trained for handling such situations with alacrity.'
The Rail Land Development Authority has invited online bids from private players to redevelop the station into an integrated commercial, retail, and hospitality hub.
In its reply to the tax reminder notice sent by the revenue department last week, Vodafone had said it believes it is not liable to pay tax for its $11.2 billion acquisition of Indian telecom business of Hutchison Whampoa.
A K Bhattacharya lists three reasons why Finance Minister Arun Jaitley will most likely present a full Budget on February 1, 2019.
Just 5 departments account for about 88 per cent of the Union government's civilian employees. A leaner bureaucracy will help Modi keep his promise of maximum governance with minimum government, says A K Bhattacharya.
In the year-long crackdown on tax evasion, the GST authorities have unearthed over Rs 35,000 crore of tax fraud committed by misuse of input tax credit provision under the Goods and Services Tax (GST) regime. During the 2020-21 financial year, the CGST zones and the Directorate General of GST Intelligence (DGGI) booked about 8,000 cases involving fake ITC of over Rs 35,000 crore, a statement from CBIC said. Under the GST regime, at the time of paying tax on output, entities can reduce the tax they have already paid on inputs.
Government may bring a new law on black money during the ongoing Parliament session.
Revenue department would come out with more clarifications through FAQs on the Undisclosed Foreign Income and Assets Act.
Amid internal rumblings in the Punjab and Chhattisgarh Congress, Rajasthan chief minister Ashok Gehlot on Saturday said his government will complete its full five-year tenure.
Every bank offers a different slab of minimum balance to customers, based on which 'free services' are provided
Amid a surge in coronavirus cases, Uttar Pradesh Chief Minister Yogi Adityanath on Friday replaced his 'Team-11', a group of officials tasked with managing the crises, with a new nine-member set of ministers and bureaucrats.
Income tax collection, by way of advance tax and TDS, in the April-June quarter was about 80 per cent of what was collected in the same period last year.
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