CBDT chief also set a monthly target of disposing of pending appeals by sending communication through the e-filing portal and or through emails only.
also made a case for the need to create a self-sufficiency fund for innovation, construction and manufacturing clusters to make use of the emerging opportunities in the wake of disruption in global supply chain.
Courts in five countries including the US and the UK have given recognition to an arbitration award that asked India to return $1.4 billion to Cairn Energy plc - a step that now opens the possibility of the British firm seizing Indian assets in those countries if New Delhi does not pay, sources said. Cairn Energy had moved courts in nine countries to enforce its $1.4 billion arbitral award against India, which the company won after a dispute with the country's revenue authority over a retroactively applied capital gains tax. Of these, the December 21 award from a three-member tribunal at the Permanent Court of Arbitration in the Netherlands has been recognised and confirmed by courts in the US, the UK, Netherlands, Canada and France, three people with knowledge of the matter said.
'He has assured me that he is committed to correcting the issue with the food hampers and that a full review of the supply chain is taking place.'
Novak Djokovic blamed "human error" on Wednesday for a mistake in his Australian immigration paperwork and apologised for breaking isolation for a photoshoot when he had COVID-19 last month.
Many salaried taxpayers hold the misconception that they don't need to disclose any other income since TDS is deducted from their salary.
The railways has, however, capped the waiting list on these trains -- up to 100 for AC 3 tier, 50 for AC 2 tier, 200 for Sleeper Class, 100 for chair cars, and 20 each for First AC and Executive Class.
The idea is to cut litigation, lower the cost of collection and prioritise bigger defaulters.
GSTN said those who do not want to give their Aadhaar numbers would have to undergo physical verification.
This was due to a planned expenditure being revised
The airline has launched a series of discount offers since January this year.
Public sector banks may have to bear a burden of Rs 1,800-2,000 crore arising due to a recent Supreme Court judgement on the waiver of compound interest on all loan accounts which opted for moratorium during March-August 2020, sources said. The judgement covers loans above Rs 2 crore as loans below this got blanket interest on interest waiver in November last year. Compound interest support scheme for loan moratorium cost the government Rs 5,500 crore during 2020-21 and the scheme covered all borrowers including the prompt one who did not avail moratorium.
The bench asked the official liquidator, attached with the Bombay high court, to auction Aamby Valley properties, estimated to be worth Rs 34,000 crore, and directly report to it
The country's exports rose by 47.34 per cent to $32.46 billion in June on account of healthy growth in sectors such as engineering, gems and jewellery and petroleum products, even as trade deficit aggregated at $9.4 billion during the month, according to the data released by the commerce ministry on Friday. Exports in June last year stood at $22 billion and $25 billion in June 2019. In May 2021, the outward shipment was worth $32.27 billion, while in April this year, it was $31 billion. Imports in June 2021 grew by 96.33 per cent to $41.86 billion, from $21.32 billion in June last year. In June 2019, imports stood at $41 billion.
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The Union government's offer of settling the retrospective taxation case with Cairn Energy may hinge on Vedanta withdrawing the ongoing arbitration from the Singapore Tribunal on the same issue. The government has offered to refund Cairn Energy Rs 7,900 crore that it had collected under the retrospective tax demand on fulfilment of certain conditions, including withdrawal of pending litigation and furnishing of an undertaking to the effect that no claim for cost, damages, interest, etc., would be filed. This condition is also part of the Taxation Laws (Amendment) Bill, 2021, passed by Parliament recently.
While law-abiding customers are harassed for KYC and have to comply with endless paperwork even to open and close accounts, DHFL could easily open nearly 260,000 fake home-loan accounts, reveals Debashis Basu.
An advertisement showing two women talking about Cars24's promise that you can test drive the car and return it with full refund in seven days if it doesn't work for you has upset a section of men. In the ad, the women say there should be such a policy for husbands, too. "Will same return policy be taken so laughingly as this one if we reverse the #gender? (sic)" asks a complainant to the Advertising Standards Council of India (ASCI). Another complaint, this time against a FreshToHome ad, reads: "Suggest to ban gory and repulsive photos of animal parts in ads - just as photos of accident victims."
GST council may propose a faster refund procedure, deferment of electronic way bill, further simplification of composition scheme
Indian students planning to study abroad this year have to pay higher fee, fund their quarantine stay and also compete for on campus work opportunities.
More than one lakh people had invested in the IMA Jewels which started 17 companies.
IT major Infosys on Thursday acknowledged that some users continue to experience difficulties in accessing the income tax portal and assured that it is working expeditiously, in collaboration with the income tax department to further streamline end-user experience.
The government will have to make substantial payments, as well as forego revenues in FY'23, if it wants to work on the survival of Vodafone Idea because it will have to extend the same incentives to the entire telecom sector. According to estimates, the industry has to spend around Rs 21,000-Rs 25,000 crore for spectrum which it bought on a deferred payment basis. Vodafone Idea has asked for a moratorium for another year (FY23). If granted, the government will have foregone the instalment payout for a third year in a row as it has already provided a moratorium for two years, giving telcos Rs 42,000 crore worth of relief.
Two weeks since the much talked about new income tax return filing portal was launched, technical glitches continue to mar the site, an issue finance ministry officials will take up in a meeting with Infosys -- the vendor which provided the IT solution -- at a meeting on Tuesday. Several stakeholders have submitted written inputs highlighting the issues facing the portal as well as areas that need to be fixed. At the company's annual shareholder meeting, Infosys had on Saturday stated that it is working to resolve the issues and has already succeeded on some fronts.
'A sum of Rs 6,000 a year is very significant for a small farmer whose land holding is very small and whose produce is very small. All these calculations on a daily basis are extremely unfortunate and an insult to farmers.'
Formula One said Turkish GP organisers had asked the sport to consider holding the race later in the season, should that be possible.
