Indians with undisclosed foreign assets and offshore bank accounts will be in for a shock this Budget if the finance ministry clears a proposal empowering income tax authorities to reopen assessments up to 16 years as against 6 years now. The proposed amendment, the ministry feels, may not only act as a deterrent, but also put pressure on people to declare their wealth stashed away in Swiss banks and tax havens. In...
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Teesta Setalvad of Citizens for Justice and Peace interviewed by Anupama Katakam
Interview with Teesta Setalvad of Citizens for Justice and Peace. TEESTA SETALVAD, through her organisation Citizens for Justice and Peace, has been at the forefront of the fight for justice for the victims of the 2002 communal riots in Gujarat. She has also worked extensively on many other issues affecting minority communities in the State. In this interview to Frontline, she speaks about Chief Minister Narendra Modi's new tactics and the marginalisation...
More »PAN to be tool against tax evasion
-The Financial Express Come next financial year, the PAN card is likely to become the most potent tool for the Income Tax Department to unearth black money, tax evasion and instances of criminal financing in the country. A recent directive of the Central Board of Direct Taxes (CBDT) to the I-T Dept has asked its officials to launch a special drive against those who have "not furnished their PAN (Permanent Account Number)"...
More »Poor labourers pledged Rs 100, get Re 1 for day's work under govt's employment guarantee scheme by Nitin Sethi
Poor workers are being paid wages as low as Rs 1-10 for a hard day's labour in states like Rajasthan and Karnataka under the Mahatma Gandhi National Rural Employment Guarantee Scheme which promises a real wage of Rs 100 per day. Documents with TOI show that many desperate, poor labourers across the country are being cheated of their hard earned money and the much publicized guaranteed daily wage of Rs 100...
More »ICAR forms panel to unravel mystery of Monsanto gene in ‘indigenous’ Bt cotton by Sandip Das
The Indian Council for Agricultural Research (ICAR) will set up an expert committee to look into patent violation issues concerning Bikaneri Narma, which was claimed to be the country’s first indigenous public sector-bred Bt cotton (genetically modified) seed variety. Bikaneri Narma Bt Cotton also promoted as ‘completely indigenous Bt variety’ was developed by Central Institute for Cotton Research (CICR), Nagpur, and University of Agricultural Sciences, Dharwad, along with Indian Agricultural Research...
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