There is no question of reversing earlier decision to cancel class 12 board exams, the Supreme Court said on Thursday and approved the assessment schemes of the Council for the Indian School Certificate Examinations (CISCE) and the Central Board of Secondary Education (CBSE), which has adopted 30:30:40 formula for evaluation of marks for students based on results of class 10, 11 and 12 respectively.
Garg had refused to sign on the report finalised by the former Reserve Bank of India governor Bimal Jalan-led committee reviewing the central bank's economic capital framework (ECF).
The Dabangg star, who has been providing assistance to those in need amid the ongoing pandemic through his charitable trust, on Monday posted a statement on his social media handles.
The Board decided to award full marks for it to students, following an outrage over the board allegedly promoting 'gender stereotyping' and supporting 'regressive notions'
The Budget announcement of taxing 'virtual digital assets' or crypto currencies will help the income-tax department measure the "depth" of this trade in the country, know the investors and the nature of their investments and it does not "attach any legality" to these transactions, Central Board of Direct Taxes chairman J B Mohapatra said.
The government has notified mandatory requirement of e-invoicing for B2B transactions for businesses with a turnover over Rs 100 crore with effect from January 1, 2021. Under Goods and Services Tax (GST) law, e-invoicing for business-to-business (B2B) transactions is mandatory for companies with turnover of over Rs 500 crore from October 1. In a notification, the Central Board of Indirect Taxes and Customs (CBIC) said e-invoicing will be extended to businesses with a turnover over Rs 100 crore from January 1.
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.
'Quite a few notices have been issued in both black money and benami transactions.'
President Ram Nath Kovind on Monday appointed Chandra as 24th CEC on Monday.
This is the fourth extension given by the government for taxpayers to file both original and revised ITRs for 2018-19 fiscal.
The remaining 0.35 per cent will be credited in December this year, if the EPFO is able to redeem its equity investments.
Recently, the finance ministry waived off basic customs duty and health cess on imported oxygen and related equipment for three years.
The Central Board of Secondary Education (CBSE) on Thursday notified its policy for evaluation of Class 12 students which will be based on a combination of marks scored in classes 10, 11 and pre-board exams and informed the results will be declared by July 31.
The department had launched searches against the 48-year-old actor and the Lucknow-based group of industries involved in infrastructure on September 15 and the CBDT said the action was continuing.
Since arraignment under money laundering is a tougher offence, the CBDT hopes it will also overcome its dismal score sheet to prove satisfactorily to the courts that these cases were genuine ones of tax evasion.
The students have been directed to follow social distancing, carry their own hand sanitiser in a transparent bottle and cover their nose and mouth with mask/cloth.
There are a total of 86 centres in northeast Delhi. While Class 10 students had English exam, Class 12 students had optional exams, including Web Application and Media.
"Don't mess up with the education system", the Supreme Court said on Thursday while refusing to direct the Central Board of Secondary Education and the Council for the Indian School Certificate Examinations to provide option of hybrid mode, instead of only offline mode, to the students for appearing in class 10 and 12 board examinations amid the COVID-19 pandemic.
Once approved by the finance ministry, the rate hike will benefit six crore EPFO subscribers.
'Shouldn't our investigation agencies be fiercely independent and conduct fair investigations, show some spine and say no to such witch hunting?' 'That they will not be cowed down by what the Centre wants them to do.'
The instruction is that audit of large units be completed within seven working days, of medium units in five working days and of small ones in three.
The comments by the minister came following a controversy over the reduction of syllabus by the CBSE due to the COVID-19 situation, with the Opposition alleging that chapters on India's democracy and plurality are being "dropped" to propagate a particular ideology.
'That would once and for all teach all the film-makers of this country a fitting lesson!'
The 557th meeting of the Central Board was chaired by RBI Governor Raghuram Rajan, and attended by the four deputy governors among others
The size of the Reserve Bank's balance sheet, which is reflective of activities carried out by it in pursuance of currency issue function as well as monetary policy and reserve management, has increased by 6.99 per cent during the nine-month period ended March 31, 2021. While income for the year decreased by 10.96 per cent, the expenditure decreased by 63.10 per cent, as per the RBI's Annual Report for 2020-21. The year ended with an overall surplus of Rs 99,122 crore as against Rs 57,127.53 crore in the previous year, representing an increase of 73.51 per cent, it added.
The government has allowed import and export of COVID-19 vaccines without any value limitation, in order to ensure speedy clearance and distribution. The Central Board of Indirect Taxes and Customs (CBIC) has amended the regulations to facilitate the import/export of COVID-19 vaccines through courier, at locations where the Express Cargo Clearance System (ECCS) is operational. "Imports and exports of vaccines in relation to COVID-19 has been allowed without any value limitation," said the amended Courier Imports and Exports (Electronic Declaration and Processing) Amendment Regulations, 2020.
It also recommended that the RBI accounting year (July-June) may be brought in sync with the fiscal year (April to March) from the financial year 2020-21 as it could reduce the need for interim dividend being paid by the central bank.
'The kind of tax which will be generated from the second pillar may far outweigh what we may be losing in the first pillar.'
The government on Thursday extended the due date of filing income tax returns for 2020-21 for individuals by two months till September 30. The Central Board of Direct Taxes (CBDT) has also extended the ITR filing deadline for companies by a month till November 30. As per the income tax law, for individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms the deadline to file ITR is July 31. The deadline for taxpayers, like companies or firms, whose accounts are required to be audited is October 31.
Schools across the country were closed in March to contain the spread of the COVID-19 pandemic. They were partially reopened in some states from October 15.
India's first home-grown mapping company MapMyIndia is looking to list in the public market by raising around Rs 1,200 crore at a Rs 6,000-crore valuation. Sources said the company is ready with its draft red herring prospectus documents and is likely to file as early as next week. While the money will be used for business expansion, it will also give MapMyIndia's early investors, including Qualcomm, PhonePe, and Japanese mapmaker Zenrin Co., a chance to exit. The Verma family, which founded the company, will continue to remain promoters.
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.
'What is being proposed today is completely draconian.' Payal Singh Mohanka on the I&B ministry's plan to amend the Cinematograph Act.
Check your Class 12 results on the Central Board of Secondary Education's website today.
Why can't we have a sunset clause for the ARCs, which is a global norm? questions Tamal Bandyopadhyay.
Reserve Bank of India (RBI) Governor Shaktikanta Das on Sunday said he has tested positive for coronavirus and will work from isolation while the central bank will continue to function normally. Das said he is asymptomatic and has alerted those who came in contact with him in recent days.
With Goods and Services Tax (GST) officers under pressure to exceed the Rs 1-trillion collection mark per month, industry has faced a barrage of recovery notices and summons issued over the last one month across sectors, according to company executives. Industry bodies have claimed harassment by field officers, blocking of input tax credit, cancellation of GST registration, threats of arrest and steep penalties, impacting their working capital and operations. Company executives pointed at an atmosphere of apprehension and fear due to such notices and summons.
The results of the board exams will be announced by July 15.
'Personal income tax collections have been high on account of impressive advance tax mop-up.'
The hearing of the civil suit filed in a Mathura court seeking ownership of the entire 13.37 acres of Krishna Janmabhoomi land has been adjourned till December 10, after the plaintiff in the case, Shri Krishna Janmabhoomi Trust, failed to appear before the court on Wednesday.
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