The income tax department is asked to keep names of blackmoney holders under wraps.
'Nobody has given you (CBFC) the intellectual morality and authority to decide what one wants to watch and see,' the court said.
Officials say that such a list, to be updated on a real-time basis, will serve as a ready reckoner in identifying those committing multiple economic offences
The Covid pandemic has left a question mark on how the central government manages its staff.
Over five crore provident fund subscribers governed by the EPFO will get 8.75 per cent interest on their deposits for the current fiscal.
The application for certification was incomplete, says a source in the CBFC.
Members of Shia community were lathicharged by police on Friday as they were marching to gherao the house of Uttar Pradesh Waqf Minister Mohd Azam Khan over the alleged move to appoint "corrupt persons" to the Shia Central Board in the state.
"The underlining theme with which we have been working till now is that we trust the taxpayers and from purely an enforcement agency, we are shifting our focus to being a service-oriented department," says CBDT chairman Pramod Chandra Mody.
The Income Tax department will investigate over 60,000 individuals under the second phase of the 'Operation Clean Money'.
The CBSE sent a confidential note to all examination centres in Delhi on Saturday, which carried a set of 10 instructions to be followed to introduce the new system.
The official privy to the probe said the crime was committed for a few thousand rupees.
The Central Board of Excise & Customs will develop the process over the next few months.
With the introduction of Rs 200 notes, the problem people face due to high-value Rs 2,000 notes would be taken care of.
'Those who are talking of adopting the Narasimha Rao-Manmohan Singh policy must understand now that what was a reform then is no longer a reform now,' argues Sukumar Mukhopadhyay who was associated with the 1991 economic reforms.
With exporters' claim for over five months still pending, liquidity has been wiped out and the process of finalising new contracts has been held up.
Income tax office to remain open on Saturday and Sunday for those who have not yet filed their returns.
'Appellants may not lap up the scheme because, first, to do so would amount to admission of guilt, and second, they may have smelled victory before higher appellate forums,' notes S Murlidharan.
Increase in surcharge will adversely impact fund managers planning to shift to India. As a matter of fact several fund professionals based in India could also relocate to other jurisdictions, resulting in a brain drain.
From 100% tax deductions for contributions to PM-CARES fund to extending the due date for linking Aadhar and PAN card, the government has provided various tax relief and extensions in deadlines for statutory compliances, says Homi Mistry.
Prince Ram Niwas Yadav has been banned by the BCCI from domestic cricket for the next two seasons after being found guilty of fudging his age in under-19 tournaments.
The highest collection target has been given to Mumbai at Rs 4.39 trillion, followed by Delhi and Bengaluru.
India has 26 public sector banks, 22 private sector banks and 56 regional rural banks.
Get your lowdown on what's going on in the world of Hindi films right here!
The new provision under the Income-Tax Act may enable the authorities to seize trustees' personal assets if there's a breach of objectives governing registered charitable trusts.
'So far, the government has sanctioned more than Rs 300 billion as GST refunds,' Ansh Bhargava and Aditya Singhania point out.
The Centre's revenue from GST registered a decline of 10 per cent in 2017-18 compared to revenue of subsumed taxes in 2016-17.
The GST Council had given the option to real estate companies to either opt for old rates of 12% (for residential) and 8 per cent (affordable housing) with ITC benefits or the new tax rates of 5% for residential units and 1% for affordable housing without the benefit of adjusting the credit on inputs used during construction.
The CBSE had announced that it had rationalised the syllabus for Classes 9 to 12 for the 2020-21 session by up to 30 per cent to make up for the academic loss caused due to COVID-19. However, it was the decision to drop topics related to Social Sciences which drew sharp reaction from opposition parties like the Congress, Left, Trinamool Congress, Nationalist Congress Party and Shiv Sena.
A senior official said CBDT has inputs that a number of these companies possibly indulged in tax crimes and once this is established, the department will initiate action against them for indulging in money laundering and tax evasion.
Employers will now need to furnish detailed break-up of exemptions that an employee has claimed.
The Nitya Mehra-directed film starring Sidharth Malhotra and Katrina Kaif is scheduled to release on September 9.
The queries, sent in November, were mainly about Capital Investment Trust, which the I-T department said, was used for the purpose of transferring foreign funds comprising global depository receipts (GDRs) of the value of $400 million to two Indian entities - Reliance Utilities & Power (RUPL) and Reliance Port & Terminal (RPTL), owned by the Ambani family. A show-cause notice issued on March 29 to Ambani's wife Nita, and their three children.
As the Indian Army reported its first case of the infection with a 34-year-old soldier testing positive in Leh, the Army said it has taken a series of precautionary measures to prevent the spread of coronavirus among the forces such as checking flu symptoms among soldiers on their return from leave and cancelling non-essential travel, conferences and recruitment drives.
India is often viewed as an aggressive tax jurisdiction by domestic and overseas taxpayers, and making the charter as part of the Act may help restore confidence among taxpayers.
Prime Minister also underlined the need for increasing the number of tax payers to 10 crore.
The Central Board of Excise and Customs, through a notification on February 12, has slashed the duty on both the variants of motorcycles imported as completely build units (CBU) to 50 per cent.
Chinese manufacturers are re-routing their products through the markets of other countries that India has Free Trade Agreements with.
In an online chat with readers, Vivek Gupta, an IIT-B alumnus and co-founder, Plancess EduSolutions Pvt Ltd, offered advice on how to crack the Joint Entrance Examination.
By November 3, only 17,000 applications with tax payable amounting to Rs 1,100 crore have been received by the government, under the Sabka Vishwas Legacy Dispute Resolution Scheme. The scheme gives a deep discount of 70 per cent for cases pending appeal where tax demand is more than Rs 50 lakh, and 50 per cent waiver beyond that amount.
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