-The Times of India NEW DELHI: If you are still left with scrapped Rs 1,000 and Rs 500 notes, having failed to deposit them in Banks by the December 30 deadline, you could hold on to them till July-end. The Supreme Court said on Tuesday it would decide in July whether the government should be asked to open a window for those who could not deposit the scrapped notes in time due...
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Will farm loan waivers hurt the finances of Tamil Nadu and Uttar Pradesh? -Sruthisagar Yamunan
-Scroll.in While officials say waivers could jeopardise allocation for other key sectors, farmer unions and economists feel it is a necessity given the farming crisis. Developments in three states over the past week have brought the debate on the waiver of farm loans back under the political spotlight. In Uttar Pradesh, the newly-elected Bharatiya Janata Party government under Chief Minister Adityanath announced on Wednesday that it would write-off crop loans of up...
More »1.37 crore who don't file returns are now on Income Tax radar -Aanchal Magazine & Anil Sasi
-The Indian Express The department is employing what it calls a “360 degree profiling” of taxpayers ARMED WITH information on cash deposits of over Rs 2 lakh by tax assessees through a newly inserted column in the income-tax returns for 2017-18, the tax department has started the process of scrutinising and matching details with those provided earlier by Banks and financial institutions. Alongside this, a list has been readied of about 1.37 crore...
More »Rs 2 lakh limit not applicable on bank withdrawals
-PTI NEW DELHI: Ban on cash transaction in excess of Rs 2 lakh will not be applicable to withdrawals from Banks and post office savings accounts, the income tax department said on Wednesday. Through the Finance Act 2017, the government has banned cash transactions of over Rs 2 lakh and said a penalty of an equal amount would be levied on the receiver. In a clarification on the newly inserted Section 269ST in...
More »Yogi waives farm loans up to Rs. 1 lakh -Omar Rashid
-The Hindu The UP govt will also settle around Rs. 6,000 crore of NPAs of 7 lakh small and marginalised farmers. Lucknow: The Yogi Adityanath-led BJP government in Uttar Pradesh, at its first Cabinet meeting on Tuesday, announced its decision to waive farmers’ loans worth Rs. 30,729 crore, writing off all farm loans up to Rs. 1 lakh. The government will also settle around Rs. 6,000 crore of NPAs of seven lakh...
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