The amended bill also provides for a stiff Rs 1 crore penalty and a jail term for private entities for storing Aadhaar data.
Legal experts are not sure if threat of confiscation of property will be deterrent enough for fleeing offenders
Debt mutual funds are likely to be stripped of the long-term tax benefit if they invest less than 35 per cent of their assets in equities. Such mutual funds will attract short term capital gains tax. The government is likely to make such a proposal in the form of an amendment to the Finance Bill 2023 in the Parliament, sources said.
Sections in the draft Personal Data Protection Bill are a blatant violation of the Right to Privacy as guaranteed by the Constitution.
The lockdown has taught companies a lesson or two on running business with fewer human resources. These lessons are unlikely to be forgotten, observes Mahesh Vyas.
Changes in the draft essentially mean that the year of the Motor Vehicles Bill 2016 will change to 2019 besides other such technical amendments. But the contents of the bill remain the same.
Bankers say debt resolution bills are coming high as resolution professionals are giving the human resources and audit/legal consulting to outside firms to plug all the loopholes.
The government would be ironing out issues related to the controversial 'bail-in' clause in the earlier Bill, explore hiking the deposit insurance cover of customers, and decide whether the resolution framework should apply to public sector banks.
The law will check taxpayers' money from being used to pay for the financial mismanagement of institutions.
In a major move that will benefit hundreds and thousands of Indian IT professionals in America, the Biden administration has introduced an ambitious immigration bill in Congress which among other things proposes to eliminate the per-country cap for employment-based green cards.
The objective of the new legislation is to have a uniform law regulating money lending, removing the existing abuses and malpractices in the business and to protect the debtor, particularly farmers, from payment of abnormal interest rates.
Copies of the bill, to be moved by Finance Minister Amit Mitra tomorrow for consideration and passage, were circulated among members on the first day of a two-day special session of the Assembly on Monday.
'You are one of the drops that make that ocean, but when you leave it makes no difference to the ocean.'
Arun Jaitley has promised a compliance window under the new black money law for persons with overseas funds to come clean.
Attacking critics, he said a "clique" of people exploited farmers for long as they remained in shackles of rules regulating the sale of their produce and stated that this needed to change, which his government has done.
The need for finding options for proper functioning of Parliament is of paramount importance as the frequency of the passage of Budgets and other economic Bills without discussion or debate has only increased in the last few years, notes A K Bhattacharya.
The South African Federation of the Urban Poor on Thursday disclosed this in statement saying the money was donated by the Bill and Melinda Gates Foundation. The money would be directed through the Slum/Shack Dwellers International, which is based in South Africa.
The air carriers' liability and insurance draft bill has proposed a five-fold increase in compensation in case of death or injury, the report said.
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.
Tech giant Microsoft has unveiled a blueprint for India on artificial intelligence (AI) governance, and proposed a regulatory architecture to oversee safety protocols, according to a whitepaper released on Thursday. The whitepaper titled "Governing AI: A Blueprint for India" comes amid Microsoft raising its stakes in its artificial intelligence tool ChatGPT. The proposed AI regulatory architecture includes regulations prescribing safety and security requirements, then license deployment for permitted uses in a licensed Al data centre with post-deployment safety and security monitoring and protection.
India edged South Africa by two wickets to advance to their ninth Under-19 World Cup final.
Sitharaman said the Bill has proposed giving a legal framework for fixed-term employment through which contract workers serving a fixed-tenure will get equal statutory social security benefits as regular workers in the same unit.
The proposed PFRDA bill, aimed at setting up a regulator and manage a new pension system, will not allow pension schemes to invest their money in individual stocks.
The CBI on Friday told the Supreme Court that RJD supremo Lalu Prasad was playing badminton after being enlarged on bail in a fodder scam case on medical grounds, as it sought cancellation of the relief granted to the former Bihar chief minister.
'Even with the restrictions of depositing more than Rs 2.5 lakh in a bank, people will find new methods to convert this cash hoard into legal tender.'
'The ministry of home affairs has all records of money coming in from abroad.' 'Are they saying money is coming in without their knowledge?' 'Does the governor doubt the MHA?'
The growth of eight key infrastructure sectors rose to a 14-month high of 12.1 per cent in August 2023 against 4.2 per cent a year ago, mainly due to expansion in production of coal, crude oil, and natural gas, according to the official data released on Friday. The expansion in August is the highest since June 2022, when it was 13.2 per cent. The production of refinery products, steel, cement and electricity also grew in August, the data showed.
With all competitions now cancelled for the foreseeable future and the Olympics pushed back a year, Ryo Miyake felt he couldn't accept sponsorship money in good conscience.
Whether this remains under control in the coming months will depend on the future intensity and spread of the Russia-Ukraine war, and the effectiveness of the Indian government's response, points out A K Bhattacharya.
Dixon Technologies right now is a beehive of activity. It is building a new facility in Noida to make 1.3 million laptops for Taiwanese PC maker Acer. The facility must be up and running in four months. The pace of activity will only increase. Last week Dixon won a similar contract from Lenovo, the Chinese personal computer maker and the third largest information technology (IT) hardware brand in India, to assemble laptops and notebooks. Though the clientele in these two cases is Taiwanese and Chinese, Dixon is a company reaching for the stars with its feet planted firmly in the Indian government's policy.
'Similar to the case of the digital payment system where the government created a public platform and others joined in, we are exploring a similar structure to create a PPP platform where the compute required for AI could be accessed by the small player.'
Jaitley remained steadfast in not caving in to sustained Opposition pressure.
Saving money on your utility bills doesn't have to mean wearing your winter coat inside, forking over the money for a new heating or cooling unit - or convincing your landlord to replace it.
Nearly two million postcards and eight million letters pass through India's post offices daily.
Moving the Muslim Women (Protection of Rights on Marriage) Bill, 2019 in the Upper House, Law minister Ravi Shankar Prasad said the proposed legislation should be not seen through a political prism or vote bank politics, as it aims at ensuring gender dignity, justice and equality.
The Enforcement Directorate has summoned Telangana Chief Minister K Chandrashekar Rao's daughter K Kavitha in connection with a money laundering case linked to alleged irregularities in the Delhi excise policy, officials said on Wednesday.
Ramaswamy's stance on H-1B visas is reminiscent of the 2016 Trump campaign, when then-candidate Donald Trump, who has also hired a number of foreign workers under H-1B visas for his businesses, took a hardline stance on these foreign workers before later softening his rhetoric.
BharatPe co-founder Ashneer Grover and his wife Madhuri Jain were stopped at the Delhi international airport following a look out circular issued against them in the alleged fraud at the fintech firm, sources said. The couple were to travel to New York late on Thursday for vacation when they were stopped at the airport on the basis of a look out circular issued by the Economic Offences Wing (EoW) of the Delhi police. EoW is investigating complaints of payments being made at BharatPe to fake human resource consultancies allegedly operated by Grover and family. They have also been accused of backdating invoices to use funds.
The government also informed the apex court that it has completed negotiations for Tax Informations Exchange Agreement with 10 countries where the money is believed to have been stashed.
Union Minister of Road Transport and Highways Nitin Gadkari on Tuesday unveiled the prototype of the world's first Bharat Stage (BS)-VI-compliant electrified flex-fuel car, developed by Toyota Kirloskar Motor. The car, which runs on 100 per cent ethanol (E100), is based on the Toyota Innova HyCross. It can cover 40 per cent of its distance on ethanol and the remaining 60 per cent on electric, with the petrol engine shut off.
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