-PTI The Income Tax department has decided to crack the whip on big companies and organisations that do not remit TDS money even after deducting it from their workers' salaries. The Central Board of Direct Taxes (CBDT), the controlling and administrative authority of the department, has asked all I-T ranges to identify such cases where revenue implication is large and initiate prosecution in competent courts. The action will be taken under Section 276B...
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The taxman is watching, says FinMin-Remya Nair
-Live Mint Govt reiterates it will crack down hard on tax evaders, defends steps introduced in Finance Bill to check evasion The government on Tuesday reiterated its intention to crack down hard on tax evaders and defended some of the stringent provisions introduced in the Finance Bill last week to check evasion, including granting wider powers of arrest to taxmen and making certain offences non-bailable. Finance minister P. Chidambaram, in his budget speech...
More »Eligible farmers left out of loan waiver plan: CAG
-The Hindustan Times The CAG has found several shortcomings in the implementation of the first UPA government’s Rs. 52,500-crore farm loan waiver scheme — while thousands of ineligible farmers got the benefit, many eligible applicants were left out. The CAG report, tabled in Parliament on Tuesday, disclosed that it had audited 80,299 beneficiaries across 25 states, which was less than 1% of the total 34.5 million recipients. The scheme had two components —...
More »The Whole Truth On A Grain Of Rice-Uttam Sengupta
-Outlook An international row over a ‘world record’ “It’s 120 per cent fake,” Professor Yuan Long Ping (82), hailed as the father of ‘hybrid rice’ in China, had fumed last week in reaction to the claim that five farmers from Bihar had all individually grown more rice per hectare than the ‘world record’ of 19.4 tonnes per hectare in China—the best figure being 22.4 tonnes. He would believe the claim, he...
More »IRCTC fined Rs 10 lakh for selling soft drinks above maximum retail price
-PTI Indian Railway Catering and Tourism Corporation (IRCTC) has been slapped with a fine of Rs 10 lakh by a consumer forum here for selling soft drinks above the maximum retail price (MRP) to two customers. The New Delhi District Consumer Disputes Redressal Forum imposed "punitive compensation" of Rs 5 lakh each in two separate cases against IRCTC, a subsidiary of Indian Railways, and said being a government corporation, "it is not...
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