All communication with taxpayers to be from NeAC under faceless assessment
New Delhi: The Income Tax department has issued guidelines for the demarcation of roles of officers for the implementation of faceless assessment, making the National e-Assessment Centre (NeAC) as the main gateway for communication with a taxpayer. The Central Board of Direct Taxes (CBDT) has notified the National e-Assessment Center (NeAC) at Delhi and various […]
Govt may not need to infuse fresh capital in PSU banks this fiscal
New Delhi: The government may not have to inject fresh capital into the public sector banks (PSBs) as one-time loan restructuring permitted by the RBI has reduced additional fund requirement by them. Also the poor credit offtake on account of coronavirus pandemic may obliterate the need for significant growth capital during the current fiscal, sources […]
Natural gas prices may be cut to decade low of USD 1.9; dent ONGC revenues
New Delhi: Prices of natural gas in India are likely to be cut to USD 1.9-1.94 – the lowest in more than a decade – from October, denting revenues of producers such as ONGC who are already incurring huge losses on gas production. A gas price revision is due from October 1 and going by […]
Self-reliant farmers key to ‘Aatmanirbhar Bharat’ mission: PM
New Delhi: Highlighting key agricultural reforms, Prime Minister Narendra Modi on Saturday said farm trade has been freed up from all restrictions, enabling farmers to sell their produce anywhere in the country. By drawing parallels with soap or cloth manufacturers who were able to sell their products anywhere at will, Modi said even after over […]
India’s self-reliance to determine how high its flag of freedom flies: India Inc
New Delhi: Industry leaders on Saturday said India’s self-reliance will determine how high and strong the country’s flag of freedom flies, and also welcomed Prime Minister Narendra Modi’s announcement of National Digital Health Mission in his Independence Day speech. In a tweet, Adani Group Chairman Gautam Adani said, “Every Independence Day is a tribute to […]
Jio-RCom spectrum sharing deal not connected with AGR liability: Sources
New Delhi: Reliance Jio’s four-year-old telecom spectrum sharing deal with Reliance Communications (RCom) is not connected with the latter’s past statutory dues that pertain to the period prior to 2016 when Jio wasn’t even in operation, sources close to the company said. A Supreme Court bench had on Friday sought to know why Reliance Jio […]
RBI Board approves transfer of Rs 57,128 crore as surplus to govt
Mumbai: The RBI Board on Friday approved the transfer of Rs 57,128 crore as surplus to the central government for the accounting year 2019-20, the central bank said in a statement. The decision was taken at the 584th meeting of the Central Board of the Reserve Bank of India chaired by Governor Shaktikanta Das. The […]
Bank lending to NBFCs jumps 190 bps to 8.8% since Sept 2018
Mumbai : Amid continuing calls for more bank loans to non-banking lenders, the latest data showed that banks have already been lending more to them increasing their overall exposure to NBFCs by 190 basis points to 8.8 per cent between September 2018 and June 2020, according to a report by CARE Rating. In absolute terms, […]
India exported 23 lakh PPE to 5 countries in July: Health ministry
New Delhi: India exported 23 lakh personal protection equipment to five countries including the US, the UK and the UAE in July, after the government relaxed export norms and this has substantially helped the country to position itself in the global market of these kits, the Union Health Ministry said. The other two countries are […]
PM unveils faceless tax scrutiny; faceless appeals to start from Sept 25
New Delhi: Prime Minister Narendra Modi on Thursday unveiled faceless tax scrutiny and appeal and urged people to pay their due taxes and contribute to nation building. Also the Income Tax department will adopt a ‘taxpayer charter’ which outlines rights and responsibilities of both tax officers and taxpayers. Launching the platform ‘Transparent Taxation – Honoring […]
