-The Times of India The Companies Bill, 2012, passed by the Lok Sabha a few months ago, has recognised the importance of diversity in the board room. Certain class of companies will soon be required to have at least one woman director on board. The EU has long recognised the value that women directors bring to the table. But, policies need to be reworked even at the ground level. With the budget...
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Income tax department to quiz PAN holders not filing returns
-PTI In a stern warning to those not paying taxes, the income tax department on Monday said it is sending letters to 35,170 PAN (permanent account number) holders in the first phase for not filing returns and will take appropriate follow up action. There are over 12 lakh PAN holders who had not filed income tax returns, the department said, adding it has set up a nodal cell to monitor such cases. "In...
More »Health versus wealth-Poornima Joshi
-The Hindu The Planning Commission’s perspective on universal health care causes concern Current deliberations in the Planning Commission about actualizing universal health care in the Twelfth Five Year Plan, have invited concerns. There has been a marked thrust on state-funded insurance as opposed to a genuine effort on the government’s part to rebuild public health systems, something that has been a globally time-tested system to ensure health for all. The ongoing discussions are...
More »Extending RTI Act to public sector banks involves systemic risk-MR Umarji
-The Economic Times The main objective of the Right to Information Act, 2005, is to provide access to information in order to promote transparency and accountability in the working of every public authority. The RTI Act defines 'public authority' as anybody or authority constituted by law made by competent legislature and includes anybody owned, controlled or substantially financed directly or indirectly by funds provided by the government. While deciding the status of any...
More »Tax Payers ignorance costs Rs 660 crore to government every year: TaxSpanner Report-Vidyalaxmi
-The Economic Times More than 94% of employees in India do not report income from other sources. This causes a loss of approximately Rs 660 crore to exchequer annually, says a report by TaxSpanner.com, a tax filing online portal. "More than 94 per cent of employees - liable to pay more than 10 per cent of their taxable income as tax - do not report income under the head, "Other Sources"," the...
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