The government is planning to draft rules for the National Company Law Tribunal (NCLT) to deal with Insolvency and Bankruptcy (IBC) cases, according to official sources. The Ministry of Corporate Affairs (MCA) is also looking to fill all vacant posts at various NCLT Benches by August and put in place an IT-enabled system that would use artificial intelligence (AI) for case management. The NCLT, adjudicating authority for matters related to company affairs, was constituted before the IBC came into effect.
The reports also claim that the same beneficiary had been found to avail treatment at two hospitals at the same time.
The two central premier investigative agencies - Central Bureau of Investigation and Enforcement Directorate - have asked their officials to focus more on digital evidence, e-forums and social media to crack down on offenders. These are a crucial part of prosecution amid the second wave of the pandemic. The Income Tax Department is going full throttle on data analytics to issue notices in time-bound cases. Further, sleuths have been given electronic devices including laptops with secure connections, which keep data encrypted and inaccessible.
The faceless authority has suggested a host of changes in the assessment process following conflicts and practical difficulties raised by taxpayers since the new regime was introduced. On August 3, the National Faceless Assessment Centre issued a set of standard operating procedures (SOPs) to address several anomalies in the regime. The faceless centre, constituted by the Central Board of Direct Taxes, is the nodal authority and works as an interface for the faceless regime.
While the tax treatment does legitimise past crypto transactions, there is a possibility that any, or all, private cryptocurrencies will be banned in future.
In addition to educating Delhiites and holding a joint awareness campaign against cyber frauds, Truecaller will also display official numbers of the Delhi police representatives on the app's government directory services.
Last year, it was not just the economy that slowed hiring. Employers were also unable to complete the verification process because of the lockdowns, resulting in delays in hiring and an increase in discrepancies between an employee's professed abilities and the reality. The experience is driving many companies to automation. In a recent EY survey, 56 per cent of the companies said they'd automated their processes, while 72 per cent felt technology could be leveraged to digitise employee records.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
People are now increasingly using the digital platform to meet a new 'person'.
A taxpayer filing ITR electronically without digital signature has to verify it using either Aadhaar OTP, or logging into e-filing account through net banking, or by Electronic Verification Code or by sending a duly signed physical copy of ITR-V through post to CPC Bengaluru within 120 days of uploading the ITR.
The industry came under scrutiny after the proliferation of games like cards, casinos, and fantasy sports among young people led to addiction and financial losses, with some reported cases of suicide.
Days after rules were issued allowing linkage of Aadhaar with voters list to weed out duplicate entries, the Election Commission has warned of 'severe' disciplinary action against electoral registration officers for any leakages of physical forms filled by electors to share their Aadhaar details.
The Unique Identification Authority of India (UIDAI) is looking to collaborate with foreign countries and international organisations to build digital identity systems across the world, a top official said on Friday. UIDAI CEO Saurabh Garg during a panel discussion with Paytm founder Vijay Shekhar Sharma at the Infinity Forum said the authority is also exploring emerging technology to enhance security and increase the number of transactions that can be done by using Aadhaar. "We think going forward we will be happy to collaborate with other nations...We would like to collaborate with international organisations also in building international institutions for standards for national identity.
The Aadhaar-enabled payment system, or AEPS, allows consumers who don't have smartphones or debit cards to perform basic banking transactions like cash deposit, cash withdrawal, intrabank or interbank fund transfer, balance enquiry and obtaining a mini statement through biometric authentication at micro-ATMs.
'Remember, if an app breaks the rules while giving you money, it will also break them while collecting.'
Asked about action taken against those spreading fake news, and publishers of anti-national material, he said more than 60 accounts have been blocked including those on YouTube, Twitter, Facebook and Instagram.
Union Home Minister Amit Shah on Thursday appealed to the people of Manipur to maintain peace and promised that justice will be ensured to all sections of the society.
The 47th GST Council meeting that is currently underway is slated to discuss a host of issues, including a mechanism for compensating states for revenue loss, tax rate tweaks in some items and relaxed registration norms for small online suppliers. Further, the meeting of the Council, chaired by the Union Finance Minister Nirmala Sitharaman and comprising state counterparts, will also clear levying the highest tax of 28 per cent on online games, casinos and horse racing, besides, measures to curb tax evasion, especially devising ways to tackle high-risk taxpayers in GST. "The meeting is being chaired by Hon'ble Union Minister of Finance @nsitharaman and many important decisions are expected to be taken at the meet," PIB Chandigarh tweeted.
The government on Thursday announced new rules to curb misuse of social media platforms, as it mandated firms to appoint grievance officer, disclose the first originator of the mischievous information and remove, within 24 hours, content depicting nudity or morphed pictures of women.
About 300 fintech firms are under investigation by the ED for allegedly partnering 38 non-banking financial companies for predatory lending practices to charge borrowers high interest rates.
The state assembly had passed the Haryana Prevention of Unlawful Conversion of Religion Bill in March this year.
Aadhaar-based electronic verification code will do away with need to send physical ITR-V copies to I-T centre
It is sad that the legislative pre-consultation on such an important bill is being done in a very biased manner, notes Shailesh Gandhi, former Central Information Commissioner, recounting his experience with Minister Rajeev Chandrashekhar.
Samsung's connected technology solutions provider Harman on Wednesday said it has started a 5G testing lab in India to help companies test their devices for operating them on the next generation network. The company said its 5G lab enables a holistic, device-to-cloud performance analysis -- enabling chipset conformance testing, pre-certification testing, network operator approval testing, application performance verification and more. Harman Digital Transformation Services (DTS) senior vice president David Owens said advances in technologies like 5G yield significant opportunity to accelerate innovation across nearly every industry -- from healthcare and manufacturing, transportation to consumer device support.
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At present, two options are available for taxpayers to e-file ITR, either e-file ITR by affixing digital signature or without affixing digital signature.
The tax department will remain a source of endless nightmares for citizens and 'transparent taxation' will remain an empty slogan and a cruel joke, observes Debashis Basu.
The Virtual ID, which would be a random 16-digit number, together with biometrics of the user would give any authorised agency limited details like name, address and photograph, which are enough for any verification.
Tech giant Alphabet on Monday launched a privacy feature on its app marketplace Google Play Store that will require developers to give people more information about how apps collect, share and secure users' data. Users will start seeing the data safety section in Google Play on Tuesday, and developers are required to complete this section for their apps by July 20. As app developers update their functionality or change their data handling practices, they will show the latest in the apps' data safety section.
The finance ministry (FinMin) has asked Infosys to work on ways to extract and access taxpayers' real-time data faster and accurately as it is crucial for taking decisions on policy changes. While reviewing progress of the income tax portal 2.0, which had faced glitches, the officials also told the Infosys team to increase the scope of pre-filled data in the ITR forms. Senior officials in the ministry held a review meeting last month with the Infosys team and officials of the Central Processing Centre (CPC).
The government has initiated a series of measures, including allowing re-verification at subscribers' doorstep and One Time Password (OTP) based authentication of existing users, to make the entire exercise easier for telecom subscribers.
An increasing number of hiring managers are opting for video conferencing platforms to know the candidates, explains Narayan Bhargava, chairman and managing director, Calibehr.
'In 1984, George Orwell dreamt up the concept of a dictatorship that worked on surveillance.' 'The reality of 2017 goes a long way beyond everything that Orwell imagined.' says Devangshu Datta.
Earlier last month, for the first time ever, an anonymous hacker was served with a restraining order as a non-fungible token (NFT), reports Shivani Shinde.
Conformity assessment procedures will be put in place to verify that goods and services sold on e-commerce platforms meet required standards and technical regulations, according to the draft e-commerce policy. The policy, which is under discussion, also stated that actions and things which cannot be done by the online platform entities "can also not be done" by any of its associates and related parties. Government may, from time to time, notify parties which fall in the definition of associates and related parties, it said.
The DigiLocker platform, launched on July 1, 2015, by Prime Minister Narendra Modi, has 2.1 million registered users and 2.4 million documents have been uploaded
Security agencies made a quick estimate of passports issued between 2015 and 2019, and found that out of the 40 youth who had gone to Bangladesh or Pakistan for studies, 28 had infiltrated back into the country as trained terrorists, the officials said.
Finance Minister Nirmala Sitharaman said: "This will cover 99.3 per cent of the companies. Now only 0.7 per cent of companies will remain outside this rate."
The comments assume significance as social media companies are facing the deadline of May 25 to comply with the new guidelines for digital platforms.
Social media needs to be made more accountable and stricter rules in this regard could be brought in if there is political consensus on the matter, Information Technology Minister Ashwini Vaishnaw said in Rajya Sabha on Friday.
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