-Hindustan Times New Delhi: The crackdown on black money is not over. With the scheme for voluntary disclosure of unaccounted for wealth now closed, tax officials have launched a drive to unearth hidden incomes and are looking at transactions carried out beyond a six-year ceiling under existing rules, sources said. “The tax department can scan transactions older than six years by invoking clause 197C of the Finance Act, 2016. This clause was introduced...
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Social security schemes are more popular in urban than rural areas -Sunil Dhawan
-The Economic Times If you thought that social security schemes are only for rural residents, think again. Nearly half of the total subscribers of the three social schemes - Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY) - are from urban areas. As per the figures on http://www.jansuraksha.gov.in/, nearly 6.3 crore of about 13 crore who have enrolled in these schemes are...
More »Indirect tax collections up 26% in 1st half
-PTI Collections of indirect taxes during the first half of the current financial year grew by 25.9 per cent to Rs 4.08 lakh crore, mainly on account of a 46 per cent jump in excise duty collections. The net indirect-tax collection in the April-September period is 52.5 per cent of the Budget 2016-17 estimates. The finance ministry said net collections of central excise jumped 46.3 per cent to Rs 1.83 lakh crore during...
More »HRD ministry tweaks norms to push world-class institutions plan -Ritika Chopra
-The Indian Express The committee is meant to screen applications and shortlist institutions that deserve the world-class status. New Delhi: The Human Resource Development Ministry has tweaked the UGC regulations for setting up 20 world-class institutions, just weeks after the proposal hit a roadblock with the Solicitor General of India objecting to the unlimited powers of the proposed empowered experts committee. The committee is meant to screen applications and shortlist institutions that...
More »Centre rethinks plan to widen EPF coverage -Somesh Jha
-The Hindu Industry had opposed the move as it may hurt small factories financially New Delhi: The centre is reconsidering a plan to widen the social security net for workers by bringing more factories under the provident fund coverage. The Cabinet Secretariat has pointed out a few contradictions in the Labour Ministry’s proposal to amend the Employees’ Provident Fund and Miscellaneous Provisions Act of 1952, senior labour ministry officials said. The Labour Ministry had...
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