The Centre on Wednesday told the Bombay high court it was extending till July 10 its earlier statement that it won't notify its fact-checking unit to identify fake news against the government on social media, even as two new petitions were filed challenging the recently amended IT Rules.
The Union government on Friday said it would not notify the fact checking unit (FCU) contemplated under the amended information technology (IT) rules against fake news till the Bombay high court delivers its judgment on the petitions challenging the amendments.
The government will come out with proposed modalities and terms of references for setting up grievance appellate committees to address social media users' complaints in the next 10-12 days, and expects the panel to be in place by November 30, Union Minister Rajeev Chandrasekhar said on Tuesday.
The income tax department has notified rules for valuation of equity and compulsorily convertible preferable shares issued by startups to resident and non-resident investors. As per the changes in Rule 11UA of I-T rules, which comes into effect from September 25, the Central Board of Direct Taxes (CBDT) provides that the valuation of compulsorily convertible preference shares (CCPS) can also be based on the fair market value of unquoted equity shares. The amended rules also retain the five new valuation methods proposed in the draft rules for consideration received from the non-residents viz., (i) Comparable Company Multiple Method, (ii) Probability Weighted Expected Return Method, (iii) Option Pricing Method, (iv) Milestone Analysis Method, and (v) Replacement Cost Method.
If a citizen chooses not to use Aadhaar as the default unique identity, then other unique identity proofs masked and linked to Aadhaar would be used.
A division bench of the Bombay high court on Wednesday delivered a split verdict on a bunch of petitions challenging the amended Information Technology (IT) Rules dealing with fake news against the government on social media.
The government is planning new regulations that may impose penalties on both the creator and the platform hosting deepfakes, as it looks to clamp down on what IT and Telecom Minister Ashwini Vaishaw described as "a threat to democracy".
The migration of domestically developed intellectual property to foreign corporations within India reflects an anomaly in the demand pattern of the country's job market, points out Kanika Datta.
A division bench of Justices Gautam Patel and Neela Gokhale sought to know what constitutes a government business under the amended rules as it referred to the recent political developments in Maharashtra where "one party is moving to the other".
The Bombay high court on Thursday said that no matter how laudable or high the motives are while framing rules, if the effect of a rule or law is unconstitutional then it has to go.
Lashing out at the micro-blogging platform over non-compliance, Prasad said that it is "astounding" that Twitter that portrays itself as the flag bearer of free speech, chooses the path of deliberate defiance when it comes to the intermediary guidelines.
Political controversies aside, Twitter's business in India is expanding, and creating opportunities for Indians, reports Neha Alawadhi.
Banks can collapse, markets can be rigged, investment instruments can become worthless overnight, auditors can fail to blow the whistle, board directors can be asleep, and regulators can be incompetent, notes T N Ninan.
'There are already multiple lawsuits against the IT rules.' 'So questions of compliance are like rearranging deck chairs on the Titanic.'
'Rationalising TDS on dividends for FPIs to reduce it to treaty rates ranging from 5 to 15 per cent, depending on the country of residence of FPIs from current rate of 20 per cent will provide a big cash flow relief for FPIs.'
IT minister Ravi Shankar Prasad on Wednesday slammed Twitter for deliberate defiance and failure to comply with the country's new IT rules, which has led to the United States giant losing its intermediary status in India and becoming liable for users posting any unlawful content.
"The FATF plenary decided continuation of Pakistan in 'Grey List' till its next meeting to be held in October," an official privy to the development told PTI.
The Budget has relaxed a few safe harbour rules that aim to make it easier for fund managers overseeing offshore India-focused funds to relocate to the country.
Twitter on Friday said it 'stands prepared' to work with the Parliamentary Standing Committee on IT on safeguarding citizens' rights online, even as the panel categorically told the microblogging platform that rule of the land is supreme and not the company's policies.
This is the second time Twitter has misrepresented India's map. Earlier it had shown Leh as part of China.
Modi called for timely evacuation of those involved in off-shore activities.
India put up a strong show at the International Emmy Awards on November 25, looking beautiful on the red carpet.
The Antiguan prime minister had told Indian government that even criminals have fundamental rights and Choksi, too, has the right to go to court and defend his position, adding, once all legal options are exhausted, he will be extradited.
#TwitterBan was trending on Twitter with almost 17,000 tweets.
'If you are ready to stomach the loss, you may invest 3-5 per cent of your portfolio in crypto assets.' 'Of this, 80-90 per cent should be in Bitcoin.'
The publishing of compliance reports by Google, Facebook and Instagram is bound to turn up the heat on Twitter, which has been engaged in a tussle with the Indian government over the new social media rules.
United States President Barack Obama on Thursday said the US wants Pakistan to become a "more effective" partner in the war against terrorism to be able to dismantle the terror network active on the AfPak border.
The high court pointed out that only an interim RGO was appointed by Twitter and a wrong impression was given to the court on May 31 as it was not informed that the appointment was on interim basis.
There is a perception getting built inside the government that big technology companies -- a common term used for firms like Facebook, Google, Twitter, Amazon and the like - are becoming very powerful and present multiple threats to entire nations and their citizens today. The digital ecosystem is replete with CSAM (child sexual abuse material), fake news, drug trade, radicalisation, trolling among other social vices. Given the network effect that these platforms have, it is important to ensure that these platforms are not misused.
Twitter on Friday temporarily blocked IT Minister Ravi Shankar Prasad's account for alleged violation of the US Copyright Act, a move that the minister slammed as being arbitrary and gross violation of IT rules.
Experts say it is difficult to determine country of origin where most products are manufactured and sold, as part of a complex global value chain.
According to Nasscom, India must make its R&D significantly more robust to realise the 'Make in India' dream
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.
The bond, which the Reserve Bank of India started issuing on behalf of the Union government in 2003, was considered one of the safest savings instruments for retail investors.
The government introduced new tax rules on Wednesday aimed at reducing litigation with multinational firms over cross-border transactions the government considers tax avoidance schemes.
The salient features of the new OTT/social media policy announced by the Information Technology Minister Ravi Shankar Prasad and Information and Broadcasting Minister Prakash Javadekar on February 25, 2021.
It said while Indian IT services companies were the "disruptors" and had created the modern offshoring industry, they are now incumbents, challenged by a host of specialised and niche start-ups that have emerged in the new digital environment.
The removal of over 54,000 accounts was the largest such removal yet.
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