'It may be prudent not to plunge into a new online tax appeals system in one go, which could only create more disputes and increase the embarrassingly high tax arrears of the government,' warns A K Bhattacharya.
Images from the Champions League semi-final second leg between Paris St Germain and Arsenal, at Parc des Princes, Paris, France, on Wednesday.
The Bombay High Court has directed Mumbai police commissioner Hemant Nagrale to clear maintenance arrears to his estranged wife Pratima aka Rani Hemant Nagrale.
Field Marshal Sam Manekshaw Field Marshal K M Cariappa Marshal of the Indian Air Force Arjan Singh The three highest-ranking military heroes of the Indian Armed Forces. They were the rarest of the rare. The bravest of the brave.
The Bombay High Court on Tuesday questioned the justification behind reducing and waiving police protection charges levied during cricket matches in Maharashtra with a retrospective effect from the year 2011, and said "something is amiss".
President Donald Trump signed an executive order withdrawing the US from the UN Human Rights Council and prohibiting any future funding for the UN agency for Palestinian refugees. Trump also directed the US to review its participation in UNESCO, citing concerns about anti-Semitism and anti-Israel sentiment within the organizations. The executive order argues that the UNHRC, UNESCO, and UNRWA have drifted from their missions and act contrary to US interests. Trump previously halted funds for UNRWA during his first term, and President Joe Biden put a block on US funds for UNRWA in January 2024 over allegations that staff for the agency participated in Hamas's October 7, 2023, attack against Israel.
The idea is to cut litigation, lower the cost of collection and prioritise bigger defaulters.
France claimed their seventh Six Nations trophy in a record-strewn 35-16 victory Scotland on Saturday, shaking off their beautiful runners-up tag on a crisp evening at the Stade de France.
The Unified Pension System (UPS), approved by the Union Cabinet on Saturday, is "fiscally prudent" as it will be funded within the Centre's fiscal projections, according to T V Somanathan, the Cabinet Secretary-designate. Speaking to Business Standard immediately after the Cabinet nod, former finance secretary Somanathan, who headed the committee set up in March 2023 to review the National Pension System (NPS), said the UPS will not postpone pension expenditure as it will be contributory and financed each year.
The Supreme Court on Tuesday imposed a cost of Rs 50,000 on the Centre for filing an appeal against an order of the Armed Forces Tribunal, which granted a liberalised pension to the widow of a soldier who died during a counter-terrorism patrol in Jammu and Kashmir.
Jet Airways has been looking at various ways to raise funds amid acute liquidity crunch that has forced it to ground aircraft, cancel flights in large numbers, shutdown stations and delay salary payments to its pilots and engineers along with other senior staff.
Ahead of their planned protest in Chandigarh on March 5, several Samyukta Kisan Morcha (SKM) leaders were detained in early morning raids at their residences on Tuesday and Chief Minister Bhagwant Mann denounced the agitating farmer unions, saying they have turned Punjab into a 'state of dharnas' and caused huge losses to it.
The Vivaad se Vishwas Tak scheme will be one area where some much-needed revenue can be collected by the government. The scheme can be more successful if some specific steps are taken, says investment advisor Harsh Roongta. This results in a very high tax demand. Investment advisor Harsh Roongta takes you through the maze of appeals and counter appeals.
Punjab Police thwarted farmers' attempt to go to Chandigarh on the Samyukta Kisan Morcha's call for a week-long dharna beginning Wednesday, as multiple checkpoints were set up across the state and security stepped up at all entry points of the Union Territory.
After social media outrage over a Budget proposal making it mandatory to get tax clearance certificates for going abroad, the government on Sunday clarified that the proposed amendment is not for all, and only those accused of financial irregularities or having substantial tax arrears need such clearance. The finance ministry, in the Finance Bill, 2024, has proposed to add the reference of the Black Money Act, 2015, to the list of Acts, under which any person should clear his liabilities to obtain the tax clearance certificate.
With its age-old fascination for education, southern states have done better than the North. Start-ups, IT hubs, and industry majors setting up shop have changed the face of the South. Nearly 79% of global offices set up by international conglomerates in India are in the South. Almost 46% of tech unicorns are from the South. The GDP per person in the South is 4.2 times higher than the North. None of these indicators can be ignored by any central government, whatever the political compulsions, notes Ramesh Menon.
There shall be two dates for grant of increment - January 1 and July 1 every year
Consumer goods manufacturers, expecting to see a revival of demand from the nearly Rs 16,500 crore Pay Commission arrears for government employees, are likely to be disappointed.
Head smashed a swashbuckling hundred to fetch Australia a first innings lead of 157 at his home ground the Adelaide Oval.
England took charge of the first Test against New Zealand on Saturday, riding Harry Brook's 171 to a first-innings lead of 151 before reducing the Black Caps to 155/6 on Day 3.
The Supreme Court of India has ruled that a wife is entitled to maintenance from her husband even if she refuses to cohabit with him after a decree for restitution of conjugal rights, provided she has valid and sufficient reasons for refusing to live with him. The court stated that the circumstances of each case must be considered individually and a decree for restitution of conjugal rights does not automatically disqualify a wife from receiving maintenance. This landmark ruling clarifies the legal interpretation of Section 125(4) of the Criminal Procedure Code (CrPC) regarding maintenance and emphasizes the importance of considering individual circumstances when determining a wife's right to maintenance.
Harry Brook continued his remarkable form in New Zealand with a second century of the series to drive England to 280 before the tourists reduced the Black Caps to 86 for 5 at the close of play on Friday, the first day of the second Test.
The Supreme Court verdict on mining royalty case will give a further jolt to the Indian mining industry and will have very large financial implications, as arrears may work out to the tune of more than Rs 1.5 lakh crore to Rs 2 lakh crore, industry players said on Wednesday. The Supreme Court on Wednesday upheld the power of states to levy tax on mineral rights and mineral-bearing land, and allowed them to seek refund of royalty from April 1, 2005 onwards. According to a senior mines ministry official, the verdict will have a very large financial impact on mining, steel, power and coal companies.
Jet Airways pilots have warned the management of agitation if the airline fails to offer a concrete plan on payment of arrears amounting to Rs 100 crore (Rs 1 billion) by August 20.
Indian women's cricket team batter Jemimah Rodrigues' father Ivan on Friday refuted allegations that he used her membership at the prestigious Khar Gymkhana here to hold "conversion meetings" at its premises, claiming that he merely conducted prayer gatherings "in complete accordance with procedures".
Ahead of the festival season, the government on Tuesday decided to release the second and last installment of salary arrears to government servants numbering about 50 lakh (5 million) which will put a burden of over Rs 17,500 crore (Rs 175 billion) on the exchequer.
The state government as an interim measure would raise Rs 3,000 crore (Rs 30 billion) from market borrowings and Rs 500 crore (Rs 5 billion) as loan from small savings, Mitra told reporters at the state secretariat.
The National Pension System is applicable for government employees joining the service after April 1, 2004. It was based on the premise of contribution rather than defined benefit applicable for employees prior to the NPS.
The government on Wednesday said it would tax only 40 per cent of salary arrears to be paid to central government employees in the current fiscal on implementation of Sixth Pay Commission recommendations.
The Supreme Court of India has ordered the Union government to grant a permanent commission to a woman officer in the Army Dental Corps who was denied benefits given to similarly placed officers. The court ruled that the woman officer was wrongly excluded from consideration and that the principle of "what is sauce for the goose ought to be sauce for the gander" applies in this case. The court directed the government to implement the order within four weeks and to extend all consequential benefits, including seniority, promotion, and monetary benefits, to the officer.
The government will mop up Rs 1,400 crore (Rs 14 billion) this fiscal by taxing the second instalment of arrears due to central government employees, who were awarded increased salaries by the Sixth Pay Commission.
Income tax at source would be deducted only on 40 per cent of salary arrears to central government employees in the current fiscal on implementation of Sixth Pay Commission recommendations, government said on Tuesday.
Though seven opportunities have been granted to the states, it appears that full compliance has not been affected and several states are in default, it said.
The government on Tuesday said that tax arrears rose over 18 per cent to Rs 2.93 lakh crore as on March 31, 2010 against the year-ago period.
