-The Times of India NEW DELHI: The comptroller and auditor general has initiated an audit of entities claiming tax exemption on agricultural income amid suggestions from some political parties and income tax authorities that a blanket exemption be done away with and tax be levied after a threshold. The auditor has written to the Finance ministry seeking details of entities which have declared agricultural income and the amount of tax exemption...
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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...
More »Tax dept unearths Rs 56,378 cr undisclosed income in searches
-PTI NEW DELHI: The Income Tax department has unearthed undisclosed income of Rs 56,378 crore during search operations conducted over two years time and seized cash of about Rs 2,000 crore. Giving details of the steps taken by the government since coming to power in May 2014, Finance Minister Arun Jaitley said with IT upgradation the CBDT has been able to recover Rs 16,000 crore from non-filers of tax returns. Also the government...
More »India Slips to Fourth Place in Global RTI Rating -Gaurav Vivek Bhatnagar
-TheWire.in The report shows that barring Pakistan, the rest of South Asia has also ranked well in implementing RTI laws with only Bhutan yet to enact one. India has slipped one point down to fourth place on the global RTI (Right to Information) Rating index that provides a comparative assessment of the national legal frameworks of 112 member countries with respect to the right to information. The rating was developed and applied...
More »More farmers covered under crop insurance scheme -Amiti Sen
-The Hindu Business Line About 3.15 crore farmers have been insured this kharif season against 3.08 crore last year, claims Agriculture Ministry New Delhi: The Centre appears to have scored some points on the success of the recently-launched Pradhan Mantri Fasal Bima Yojana — the flagship insurance scheme for farmers. Going by the latest estimates of coverage and the sum insured it has seen a marginal increase vis-a-vis last year. “We are still compiling...
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