-The Times of India NEW DELHI: The income tax department has identified an additional 67.54 lakh non-filers who carried out high-value transactions in the 2014-15 financial year, but did not file tax returns for 2015-16. The I-T department is set to initiate action against these people soon. The information was collected from banks and other financial institutions. Data analysis carried out by the Central Board of Direct Taxes (CBDT) identifies non-filers about whom specific...
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Do not want politics to shift to courts: Supreme Court
-PTI New Delhi: "We do not want politics to shift to the courts," the Supreme Court observed on Thursday while hearing arguments on whether a political party can file and pursue a public interest litigation (PIL). "The apprehension is that this will shift politics to the courts. We do not want this. We do not want politics to shift to the courts," a bench of Justices Madan B Lokur and N V...
More »The popularity of low-cost canteens shows food security is still a dream for many -Cherian Thomas
-Hindustan Times Low-cost State-sponsored food schemes are mushrooming across India. Inspired by Tamil Nadu’s Amma Canteens – where MEAls are sold for as little as Rs. 5 - Andhra Pradesh, Odisha, Telangana and Rajasthan have followed suit and started similar canteens in their states. Madhya Pradesh too is planning to launch a similar subsidised food scheme. The growth of such canteens across India underscores several issues related to the Right to...
More »Time for a policy shift -Bishwanath Goldar & Arup Mitra
-The Hindu The unorganised manufacturing sector should be reoriented towards non-household units to provide efficiency gains. Ever since E.F. Schumacher, a British economist, published in 1973 his book Small is Beautiful, implying that small units are better in terms of performance indicators and labour absorption, several studies have endorsed the same idea and argued in favour of promoting small units. Stretching the argument a little further, it may be emphasised that small...
More »Cash goalpost is changed, again -Jayanta Roy Chowdhury
-The Telegraph New Delhi: The RBI has said deposits of demonetised notes with a value of over Rs 5,000 would be allowed just once in a bank account between now and December 30. The announcement not only lengthened the list of abrupt changes enforced since the note recall was announced on November 8 but also fuelled suspicion that the government is trying to dissuade people from depositing demonetised notes. The value of such...
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