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Scrutiny of income tax returns reduced to 0.25 pc in assessment year 2018-19: FinMin
The level of scrutiny has reduced to 0.25% of all returns filed in 2018-19, versus 0.71% in 2015-16, according to details issued by the finance ministry. The scrutiny rate is the lowest in the past four assessment years. In 2016-17, 0.40% of returns filed were scrutinized while in 2017-18, 0.55% of the cases were taken up for scrutiny.
Search and seizure, international tax cases out of faceless assessment ambit: CBDT
The CBDT, which administers personal and corporate income ...
CBDT allows processing of I-T refund claims for old non-scrutiny cases till Oct 31, 2020
The re-opening of the relaxation window has been giv...
CISCE declares class 10, 12 results; no merit list this year
The board had to cancel its pending exams in view of the spike in COVID-19 cases and the result has been calculated on the basis of an alternative assessment scheme decided by it.
These individuals have to pay full income tax for FY2019-20 even before getting income, TDS details
As per the govt notification, all taxpayers with total self-assessment tax liability for FY2019-20 exceeding Rs 1 lakh must pay all of it by July 31, 2020, else penal interest of 1 per cent per month under section 234A of the Income-tax Act would be levied on any short payment of this.
Wind generation falls over 40% in July; initial assessment blames low wind speed
India's wind energy generation capacity fell by a whopping 43% in July, taking the industry by surprise as the monsoon months are the most optimal for generation every year, official data showed.
Self assessment tax liability for FY19-20 over Rs 1 lakh? Pay by July 31 to avoid penal interest
According to a press release issued by the Central Board of Direct Taxes on June 24, 2020, no extension has been granted to individuals having self-assessment tax liability of over Rs 1 lakh for FY 2019-20. Further, delayed tax-payment would attract penal interest.
Environment impact assessment draft must be withdrawn to stop 'environmental destruction': Rahul Gandhi
Gandhi alleged that the aim of EIA 2020 draft was clear -- "loot of the nation". "This (EIA) is another dreadful example of what the BJP government has been doing for its select suit-boot 'friends' who loot the resources of the country," Gandhi alleged.
Sonia Gandhi, Rahul Gandhi seek withdrawal of EIA 2020
Congress leaders Sonia Gandhi and Rahul Gandhi on Thursday accused the government of dismantling India's environment rules and demanded that the draft EIA 2020 be withdrawn immediately.
Bharat Forge Q1 results: Posts net loss of Rs 127 crore
The company's income during April-June period declined to Rs 1,199.2 crore from Rs 2,372.7 crore in the year-ago period.
Nagaland govt’s assessment that law and order is fine are distorted facts: NPF
“Ravi is not a schoolboy to not understand the basic parameters of identifying law and order situation in the State. A 1976-batch Indian Police Service (IPS) Officer, the man is a former Deputy National Security Advisor (NSA) who had served the Nation in various capacities. This is display of political shrewdness of the cheapest standard", said NPF.
First, second year students to be graded on internal assessment, previous performance: Delhi University
For students of intermediate semester/term/year, the grading could be composite of 50 per cent marks on the basis of the pattern of internal evaluation or assignment based evaluation wherever applicable and the remaining 50 per cent marks can be awarded on the basis of performance in previous semester/term/year only, the varsity said.
Safe harbour framework rates unchanged
Safe harbour margins for transactions involving software development services and ITeS, the rate will remain at 18%. For contract research and development services relating to generic pharmaceutical drugs, the rate will remain at 24%.
Banks go for stress test to assess impact of Covid-19 on NPAs
Banks have undertaken stress tests to assess the level of bad loans or non-performing assets (NPAs) caused due to economic slowdown triggered by the outbreak of COVID-19, sources said.
Assessing impact of US decision on blocking H1B visas: MEA
India said it was assessing the impact of the Trump administration's decision to block H1B visas on Indian nationals and industry but indicated its dismay over it saying people-to-people linkages and economic cooperation are an important dimension of ties between the two countries.