The Reserve Bank of India on Thursday said banknotes in circulation witnessed higher than average increase during 2020-21, on account of precautionary holding of cash by people due to the COVID-19 pandemic, and its prolonged continuance. The value and volume of banknotes in circulation increased by 16.8 per cent and 7.2 per cent, respectively, during 2020-21, as against an increase of 14.7 per cent and 6.6 per cent, respectively, witnessed during 2019-20, said the RBI annual report. In value terms, the share of Rs 500 and Rs 2,000 banknotes together accounted for 85.7 per cent of the total value of banknotes in circulation as on March 31, 2021, as against 83.4 per cent as on March 31, 2020.
The Central Board of Secondary Education (CBSE) and Council for the Indian School Certificate Examinations (CISCE) boards have told the Supreme Court that class XII board examination results would be declared by July 31 and the students, desirous of taking up the board examination physically of CBSE can do so between August 15 to September 15, subject to conducive pandemic situation.
This will boost availability of these items as well as make them cheaper, it said, adding that Modi also directed the revenue department to ensure seamless and quick custom clearance of such equipment.
The home ministry has already written to all state governments informing them about the exemptions given for holding the examinations across the country with certain conditions.
The EPFO had decided that 8.15 per cent interest from its debt income would be credited immediately and the remaining 0.35 per cent capital gains from the equity sale would be given later, subject to its redemption.
RBI's oversight cadre move creates HR trouble, officers threaten agitation.
Alternative Investment Fund refers to any fund established or incorporated in India which is a privately pooled investment vehicle that collects funds from sophisticated investors, whether Indian or foreign.
The Central Board of Secondary Education (CBSE) announced on Tuesday the schedule for classes 10 and 12 board exams which will begin on May 4.
The HRD minister also clarified to the students of North East Delhi that there is no need to reappear in these examinations if you have already appeared.
The preliminary processing of tax returns is already undertaken with the help of technology. There is now greater scope of using more technology to reduce the human interface even further, notes A K Bhattacharya.
The two media groups have been critical of the Covid-19 management in the country and have done numerous news stories on the subject during the second wave of the pandemic that hit the country between April and May.
Also, a dedicated cell, headed by a member of the Central Board for Direct Taxes (CBDT), will be set up to address concerns faced by start-ups.
According to Exam Controller Sanyam Bhardwaj, the exams which were pending due to the COVID-19 situation have been cancelled.
The statement from the CBDT came as raids on the homes and offices of Bollywood actor Taapsee Pannu, director Anurag Kashyap and his partners who launched the now shuttered Phantom Films continued in Mumbai, Pune and Hyderabad for the second day. The searches also covered some executives of celebrity and talent management companies KWAN and Exceed, officials said.
The Delhi government and a section of parents pitching for its cancellation amid the pandemic and others favouring holding it at a later period.
Providing comfort to the government on the revenue front amid fiscal stress, direct tax collection is moving closer to the revised Budget target for 2021-21 and may get a further thrust from the last instalment of the advance tax payment, the deadline for which ended on Monday. The contraction in net direct tax collection narrowed to 5 per cent year-on-year as on March 15 compared to a 9 per cent decline seen in January. In absolute terms, net collection stood at Rs 8.2 trillion against Rs 8.67 trillion in the same period last year, according to the provisional numbers shared by a government official.
Only those who stick to the old I-T regime will get this benefit.
This is not her first stint in North Block or in leading a major economic ministry. She started Prime Minister Narendra Modi's first term as minister of state for finance, was made the commerce minister, and then became the defence minister.
North Block is concerned that when India is trying to attract more investment, putting up restrictions on audit firms could create an avoidable bad advertisement.
The Centre's proposal to call for governance reform in the RBI could, however, take a back seat, a source privy to the development said.
The additional cash will now give the Centre more headroom for stimulating the economy.
His nomination is effective from November 11, 2014, RBI said on Monday.
The search and survey operation was started at 44 locations in Mumbai and Surat on November 6, on entry providers and beneficiaries who have been engaged in execution of civil contracts mainly in Brihanmumbai Municipal Corporation.
However, where the directors' remuneration is in the nature of professional fees and not salary, GST will be levied on a reverse charge basis.
Certain technical problems are being faced by the taxpayers as a result annual return for the period July 1, 2017 to March 31, 2018 could not be furnished.
Retirement fund body EPFO on Thursday lowered the interest rate on Provident Fund deposits to 8.5 per cent for the current financial year, Labour Minister Santosh Gangwar said on Thursday.
Defying all odds, Gauri, a Class 10 student of Sarvodaya Kanya Vidyalaya in Yamuna Vihar, scored 97.67 per cent and topped her school, while her elder sister Anshika, a student of Hansraj Smarak Senior Secondary School, secured 85 per cent in her Class 12 CBSE Board exams.
While the declarations under the scheme have to be filed by December 31, 2020, the government had in October extended the deadline for making payment by three months till March 31, 2021, in view of the ongoing Covid-19 pandemic.
This year 98.94 per cent girls cleared the central board's class 10 board examination
The Law of Limitation provides for mandatory filing of a lawsuit within a fixed statutory time period after the cause of action arises in favour of an aggrieved person.
Deputy Chief Minister Manish Sisodia and Environment Minister Gopal Rai visited the Eidgah in Mustafabad and interacted with locals besides taking stock of facilities being provided by the government at relief camps.
The central government's clarification on the 2 per cent equalisation levy on foreign digital operators in the Budget, which considerably expands the scope of the levy, might be challenged in court, with several companies contemplating filing a writ petition in the coming few weeks. The writs might be filed on the grounds of the levy's alleged extra-territorial overreach, as it aims to cover those entities that do not have a physical presence in India, going against international taxation rules.
Through a notification, the CBDT amended Income Tax rules and inserted Rule 114AAA, stipulating the manner of making permanent account number inoperative.
The revenue from GST for the current fiscal has been pegged at over Rs 4.44 lakh crore, while for next fiscal it is Rs 7.43 lakh crore.
Finance Ministry, Assocham on Tuesday sought a taxation friendly environment for the startups
The contentious issue that Tata Trusts is challenging is the date of the order, which makes it liable to pay a much higher amount of tax under the new tax provision introduced in June 2016 concerning charitable trusts.
This decision would pave the way for crediting Rs 54,000 crore as 8.65 per cent interest for 2018-19, into the accounts of more than 6 crore EPFO subscribers.
'Lengthy liplocks between Alia and Ranveer have been left intact.'
The Central Board of Secondary Education (CBSE) has rationalised by up to 30 per cent the syllabus for classes 9 to 12 for the academic year 2020-21 to reduce course load on students amid the COVID-19 crisis, Union Human Resource Development Minister Ramesh Pokhriyal 'Nishank' announced on Tuesday.
The exam postponement announcement by the CBSE came for the third time this week due to communal violence in northeast Delhi over the amended citizenship law which has claimed 34 lives so far and left over 200 people injured. "The next date for the affected students will be notified shortly," CBSE Secretary Anurag Tripathi said.
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