Friday, June 23, 2017
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Seeking loan waiver has become fashion these days: Venkaiah Naidu
NEW DELHI, June 22 (Agencies): Union Minister Venkaiah Naidu on Thursday said that seeking loan waiver has become a fashion these days. However at the same time, the senior Bharatiya Janata Party (BJP) leader said that loans should be waived off, but in extreme circumstances. He opined that loan waiver is not the final solution for the betterment of the farmers. Criticising Naidu's statement over loan waiver, CPI(M) leader Sitaram Yechury said 36-40,000 farmers have committed suicide in the last three years, therefore calling loan waiver fashionable is a disrespect to our 'anndaata' (farmers)." Naidu's statement comes after the Karnataka government on Wednesday announced waiving of crop loans of up to Rs 50,000 of over 22 lakh farmers from cooperative banks in the state. Punjab Chief ...
Kashmir Times News Report
Refrain from promoting GST or face protest : Cong' advice to Amitabh Bachchan
MUMBAI, June 21 (Agencies): Sparking controversy, Congress leader Sanjay Nirupam on Wednesday urged actor Amitabh Bachchan to withdraw from the GST campaign to avoid getting targeted by traders later. "The GST was a brilliant idea thought of by the Congress. It is another story that the BJP opposed it all the while it was in the opposition. But after coming to power, it started diluting the basic concepts of the GST, and that was not acceptable to us," Nirupam told reporters. While the Congress sought GST as a single tax for the entire nation, the BJP introduced four tax slabs and three different sub-types of GST, he said. "It has become very complicated now. Traders and service providers are required to fill three long forms every month. Thus, the basic purpose of the GST is defeated....
Kashmir Times News Report
GST rollout
Modi govt all set to ring in India's biggest tax reform at stroke of June 30 mid-night
NEW DELHI, June 20 (Agencies): Reminiscent of India's tryst with destiny at the mid-night of August 15, 1947, Parliament's historic Central Hall will host a function on the intervening night of June 30-July 1 to ring in the nation's biggest tax reform -- GST. Announcing that the switchover to the Goods and Services Tax (GST) will kick in at the stroke of mid-night, Finance Minister Arun Jaitley said the hour-long function will mirror the contribution made by different political parties and states to the revolutionary new tax regime. The circular-shaped Central Hall had previously hosted a function that marked 50 years of Independence. GST rollout: Special programme in Parliament on June 30 midnight; President to unveil India's new tax regime on July 1 President Pranab Mukherjee, who h...
Kashmir Times News Report
IT deptt slaps Benami transaction charges against Lalu, his family
NEW DELHI, June 20 (Agencies): The I-T Department has charged family members of RJD chief Lalu Prasad, including his wife, son and daughters, under the Benami Transactions Act in connection with its probe into land deals worth Rs 1,000 crore and tax evasion. The Income Tax (I-T) Department has served notices of attachment of assets to Lalu's daughter Misa Bharti and her husband Shailesh Kumar, his wife and former Bihar Chief Minister Rabri Devi, son and Bihar Deputy Chief Minister Tejashwi Yadav and daughters Chanda and Ragini Yadav. The attachment notice, accessed by PTI, has been issued under Section 24(3) of the Benami Transactions (Prohibition) Act and Lalu's kin have been identified as "beneficiaries" of the benami assets. The department has attached immovable assets such as land,...
Kashmir Times News Report
Reality check of viral message: 'Centre planning to link Aadhaar with land records of the owners'
NEW DELHI, June 19 (Agencies): The government has issued a clarification regarding a message going viral on social media including WhatsApp regarding proposal to link Aadhaar with land records of the owners. The Centre has termed the letter fake. “Letter attributed to Cabinet Secretariat on digitalisation of Land Records and subsequent linking of the same to AADHAR. The letter being widely circulated in the sections of social media is completely fake and mischievous:” Govt Sources Letter being widely circulated in the sections of social media is completely fake and mischievous: Govt Sources — ANI (@ANI_news) June 19, 2017 Letter attributed to Cabinet Secretariat on digitalisation of Land Records and subsequent linking of the same to AADHAR: Govt sources — ANI (@ANI_news) June 19, 201...
Kashmir Times News Report
IT dept seizes 'benami' properties of Bihar deputy CM Tejashwi Yadav, Misa Bharti, her husband Shailesh Kumar
Patna, June 19 (Agencies): The I-T Department on Monday seized “benami properties” of former Bihar chief minister Lalu Prasad Yadav's daughter Misa Bharti, her husband Shailesh Kumar and current deputy CM Tejashwi Yadav, a media report said. The department has been investigating a money laundering case against her. On June 6, the IT department had issued a show cause as well as levied a penalty of Rs 10,000 against Bharti for not appearing for interrogation. Prior to this, Bharti and her husband were summoned by the IT department in connection with a 'benami' assets case. Earlier, Bharti's chartered accountant Rakesh Agrawal was arrested in connection with an ED probe into a Rs 8,000 crore money laundering racket. The IT had raided some 22 locations in Delhi and adjoining areas in co...
Kashmir Times News Report
Lockheed Martin signs pact with Tata to make F-16 fighter planes in India
PARIS, June 19 (Agencies): Lockheed Martin signed an agreement with India`s Tata Advanced Systems on Monday to produce F-16 fighter planes in India, pressing ahead with a plan to shift its Fort Worth, Texas plant to win billions of dollars worth of order from the Indian military. India`s air force needs hundreds of aircraft to replace its Soviet-era fleet, but Prime Minister Narendra Modi`s government has said foreign suppliers would have to make the planes in India with a local partner to help build a domestic industrial base and cut outright imports. But Modi`s Make-in-India drive runs the risk of conflicting with U.S. President Donald Trump`s America First campaign under which he has been pressing for companies to invest in the United States and create jobs instead of setting up fact...
Kashmir Times News Report
GST Council relaxes return filing rules for July-August
New Delhi, June 18 (Agencies): The GST Council on Sunday relaxed return filing rules for businesses for the first two months of the rollout of the new indirect tax regime even as it stuck to the July 1 launch date. The industry has been pushing for deferment of the tax implementation. As per the revised return filing timeline decided by the Council, for July, the sale returns will have to be filed by September 5 instead of August 10. Companies will have to file sale invoice for August with the GST Network by September 20 instead of September 10 earlier. "To obviate any lack of preparedness, a slight relaxation of time for two months -- July-August -- has been given. From September, strict adherence to time will go on," Finance Minister Arun Jaitley told reporters here today. In relief...
Kashmir Times News Report
Maharashtra: Illegal VoIP telephone exchanges busted in Latur, two held
Mumbai, June 17(Agencies): Illegal telephone exchanges routing telephone calls via a computer network and allegedly being used by Pakistani intelligence agencies to access sensitive military information have been busted in Latur district of Maharashtra, the police said on Saturday. Two persons, Shankar Biradar (33) and Ravi Sabde (27), have been arrested in this connection. The telephone exchanges were busted on Friday during raids conducted by a joint team of the Maharashtra ATS, Latur police and telecommunication department officials at three places in the district on a tip-off from a Jammu and Kashmir-based military intelligence agency, a police official said. According to police sources, these type of illegal VoIP exchanges were used by Pakistan intelligence agencies to acquire sen...
Kashmir Times News Report
Blow for Lalu Yadav's son
BPCL terminates licence of Tej Pratap Yadav's petrol pump
Patna, June 17(Agencies): In a big setback to the Rashtriya Janata Dal (RJD) chief Lalu Yadav's son, the Bharat Petroleum Corporation Limited (BPCL) on Saturday terminated the license of Bihar Health Minister Tej Pratap Yadav's petrol pump after the latter failed to furnish a satisfactory explanation to the notice issued over the allocation of the property in the state. When contacted, the BPCL officials declined to comment on the issue. On May 31, the BPCL had summoned the Yadav scion seeking an explanation on the petrol pump license. The oil corporation sought Pratap's explanation on how he acquired the licence and asked him to reply within 15 days. Bihar Deputy Chief Minister and Tej Pratap's brother Tejaswi Yadav had earlier quipped before reporters, "There has been degradation in...
Kashmir Times News Report
BP-Reliance industries to progress and expand partnership
JAMMU, June 16: Reliance Industries Limited (RIL) and BP today announced that they are moving forward to develop already-discovered deepwater gas fields, bringing new gas production for India. The two companies have agreed to deepen and expand their partnership to work jointly across a wide range of areas throughout India’s energy sector. RIL and BP announced that they will award contracts to progress development of the ‘R-Series’ deep water gas fields in Block KGD6 off the east coast of India. The R-series (D34) project is a dry gas development in water-depths of more than 2,000 metres, approximately 70 kilometres offshore. The R-series fields will be developed as a subsea tieback to the existing control and riser platform off Block KGD6. The project is expected to produce up to 12 mill...
Kashmir Times News Report
Black money: Switzerland ratifies auto info sharing with India
Berne/New Delhi, June 16 (Agencies): Switzerland on Friday ratified automatic exchange of financial account information with India and 40 other jurisdictions to facilitate immediate sharing of details about suspected black money, even as it sought strict adherence to confidentiality and data security. War on black money cannot be concluded with one action: M Venkaiah Naidu Adopting the dispatch on introduction of the AEOI, a global convention for automatic information exchange on tax matters, the Swiss Federal Council said the implementation is planned for 2018 and the first set of data should be exchanged in 2019. The council, which is the top governing body of the European nation, will soon notify the Indian government about the exact date from which the automatic exchange would begi...
Kashmir Times News Report
Now Aadhaar mandatory for opening bank A/c, financial transactions above Rs 50,000
New Delhi, June 16 (Agencies): The central government has made it a must to quote the Aadhaar for opening bank account and financial transactions of Rs 50,000 and above in a bid to curb black money. All existing account holders have also been asked to submit Aadhaar to banks by December 31, 2017, failing which accounts will become invalid. Income Tax department has also warned people against indulging in cash transaction of Rs 2 lakh or more saying that the receiver of the amount will have to cough up an equal amount as penalty. The government had banned cash transactions of Rs 2 lakh or more from April 1, 2017, through the Finance Act 2017. How to link Aadhaar with PAN using SMS – Here's the guide for you The newly inserted section 269ST in the Income Tax Act bans such cash dealings...
Kashmir Times News Report

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