Taxman sending mails in cases of advance tax, transactions mismatch
The income tax department is reaching out to assesses whose advance tax payments don't match their financial transactions, urging them to correctly calculate and pay their advance tax by March 15. This initiative aims to ensure tax compliance and enhance taxpayer services. The department uses data from the Annual Information Statement to identify discrepancies and inform taxpayers. Taxpayers can log in to their e-filing accounts to view details of significant transactions and comply with tax regulations. Key Points
Economic TimesCold day, clear skies in Delhi-NCR, strong surface winds likely for couple of days
Delhi-NCR experienced a cold morning today. However, no fog was witnessed over the national capital. The weather department has predicted strong surface winds of 20-30 kmph for a couple of days. Key Points
India Today11 years ago, D in my PAN turned 0. I'm still fighting lakhs in tax bill
Read about the author's decade-long battle with the income tax department due to a typo in their PAN card. Learn how they navigated the challenges and sought refunds for the tax deducted at source. Key Points
Times Of IndiaGovt extends RBI deputy governor Michael Patra's tenure by one year
India has granted a one-year extension to the tenure of central bank deputy governor Michael Patra, as per a government document seen by Reuters. Patra, a career central banker, initially assumed the role in January 2020 for a three-year term. Key Points
Economic Times100 officers at Congress MP's premises; raid recovery to touch Rs 300 crore
With the cash seized during the Income Tax department raids in Odisha is expected to reach Rs 300 crore, official sources said. It will be the "highest-ever" black money haul by any agency in a single operation. Key Points
India Today
IMD forecasts rain, hailstorm in Himachal, Uttarakhand; issues Orange alert
The India Meteorological department has issued an Orange alert for Himachal Pradesh and Uttarakhand, signaling potential rain and hailstorms in the next 24 hours. Weather forecasts predict moderate rain and hail in various parts of Uttarakhand, posing challenges to the ongoing rescue operation in the Uttarkashi tunnel. Himachal Pradesh also faces an orange alert for rain and hail. A western disturbance in North India is causing cloudy weather in Delhi and is expected to bring light rain, lowering nighttime temperatures by 2 to 3 degrees. Key Points
Economic TimesBPSC TRE 2023 phase 2 revised exam schedule out at bpsc.bih.nic.in, notice here
BPSC TRE 2023 phase 2 revised exam schedule has been released. Check the notice here. Key Points
Hindustan TimesUS drops antitrust case over healthcare hiring agreements
The U.S. Justice department has asked a judge to dismiss the government's prosecution of a UnitedHealth (UNH.N) Group affiliate accused of unlawfully restricting employee mobility, marking a new setback in the government's push to apply criminal antitrust laws to labor markets. Key Points
ReutersRBI appoints Manoranjan Mishra as new Executive Director
Manoranjan Mishra has been appointed as Executive Director by the Reserve Bank of India (RBI). In his role as Executive Director, Mishra will oversee the Enforcement Department, Risk Monitoring Department, and department of External Investments & Operations. Key Points
Economic Times35L refund cases 'held up' for various reasons; I-T dept call centre working to resolve: CBDT chairperson
Around 3.5 million refund cases are currently held up by the Income-Tax department due to mismatched bank accounts. The department is reaching out to taxpayers through a call center to resolve these issues. The CBDT Chairperson stated that the aim is to quickly credit refunds to the correct bank accounts. The department has resolved 140,000 cases over the past year through this call center. The CBDT plans to expand the call center to other regions and cities. Key Points
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Washington Trust to pay $9 million over discriminatory lending
Washington Trust Bank (WASH.O), the largest community bank in the country, will pay $9 million to settle civil rights charges that it discriminated against primarily Black and Hispanic mortgage applicants in Rhode Island, the U.S. Justice department announced on Wednesday. Key Points
ReutersIndia’s tax department investigating FirstCry founder for alleged $50 million tax evasion
India's tax department is investigating the founder of unicorn FirstCry.com on charges of evading taxes to the tune of $50 million. Sources said at least six investors in FirstCry, including private equity firm ChrysCapital Management Co and Sunil Bharti Mittals family office, have also received enquiries related to the matter. Key Points
Economic TimesUS hiring cooler than expected in July, unemployment dips
Job creation in the United States was lower than anticipated in July, according to government data released Friday, hovering at the slowest pace since late 2020 in encouraging news for policymakers. The world's biggest economy added 187,000 jobs last month, slightly above the 185,000 figure in June after a downward revision, said the department of Labor. Key Points
Economic TimesChinese hackers breached US Commerce chief's emails; Blinken warns Chinese counterpart
U.S. Commerce department Secretary Gina Raimondo was among a group of senior U.S. officials whose emails were hacked earlier this year by a group Microsoft (MSFT.O) says is based in China, according to a person briefed on the matter, as fallout from the digital theft continues to spread. Key Points
ReutersCanada extends consultation period for RBC's $13.5 bln bid for HSBC unit
Canada's finance ministry has extended the consultation period for Royal Bank of Canada's (RY.TO) $13.5 billion proposed acquisition of HSBC's (HSBA.L) Canadian unit by 15 days due to a technical error that prevented the department from receiving some submissions by email. Key Points
Reuters
Chandigarh issues recruitment notice for 293 JBT teachers
The online application process for recruitment of 293 JBT teachers will start from July 20 onwards on the Chandigarh education department website https://www.chdeducation.gov.in/ Key Points
Hindustan TimesMumbai rainfall alert: Thunderstorm, lightning predicted in next 3-4 hours
The weather department mentioned that Ratnagiri, Raigad, Thane, Palghar will receive moderate spell of rainfall in the next few hours. The IMD has noted that gusty winds reaching 30-40 kmph will prevail in these areas for the 3-4 hours. Key Points
mintCoastal states on alert amid warning of strengthening cyclonic storm
The Indian Meteorological department (IMD), which categorised Biparjoy as a very severe storm , said at 08:30 a.m. IST (0300 GMT) on Saturday the weather system was centered about 620 kilometres (385.25 miles) west-southwest off the financial capital Mumbai. It is very likely to intensify further and move north-northeast wards gradually during next 24 hours, the IMD said in a statement on Saturday. Key Points
Economic TimesJJ Hospital ophthalmology department limps back to normalcy
The ophthalmology department of Sir JJ Hospital in Mumbai has appointed Dr Ajay Chandanwale to streamline the department after the resignation of Dr Ragini Parekh and seven honorary doctors. Dr Ravi Chavan has been appointed to take charge of the department, with five candidates shortlisted for honorary posts. The department will also fill four permanent vacant posts, while ophthalmology resident doctors have met with the new HoD to discuss thesis allocation. The resignations followed accusations of a dictatorial management style and a lack of practical surgical experience and research opportunities. | Mumbai news Key Points
Hindustan TimesHaryana pension scam: Persons required to look into social justice washed hands off responsibilities, says HC
The HC bench of justice Vinod S Bhardwaj said that despite a lapse of more than 10 years, the authorities have recovered only ₹4.58 crore against the total outstanding of ₹15 crore. The principal secretary of the department has failed to give any reasons as to why the balance amount could not be recovered even though a period of more than 10 years has elapsed, the court observed Key Points
Hindustan Times
I-T case: department produces 'chat' proof; Chhattisgarh officials get court relief
The magistrate had directed the department to file cases under the Income Tax Act and the Indian Penal Code against the trio. They were also asked to appear before the court in the first week of August. The IAS officer moved the sessions court, claiming that there was no lawful occasion for the magistrate to pass the order that he said was premature . Key Points
Economic TimesParliamentary panels unhappy with funding delays by ministries
Factor this, the school education department was provided an outlay of '37,383.36 cr in BE 2022-23. However, at RE stage, it was reduced to '32,151.66 cr. Of this, the department was able to utilize only '19,926.23 crores till January 31, 2023, a parliamentary committee report notes. Key Points
Economic TimesAgriculture Ministry couldn’t use, surrendered Rs 44,000 crore in 3 years
The report also highlighted that the department’s budgetary allocation as percentage to the total budget of the Centre has come down from 4.41% in 2020-21 to 2.57% in 2023-24. Key Points
The Indian ExpressGgm health dept asks residents to follow Covid appropriate behaviour
Gurugram's health department urges citizens to follow Covid-19 protocols amidst a sudden surge in cases. The city reports 99 new cases, taking the total active cases to 411. Key Points
Hindustan TimesUS state announces and rescinds mask mandate within hours as COVID-19 cases rise
Governor Parson's office credited for sudden change in St. Louis mask mandate. Key Points
Hindustan Times
Apple agrees to $25 million fine for favouring immigrants over US citizens, green card holders for job rol
This settlement stands as the largest ever by the Justice department in cases related to discrimination based on citizenship. The terms require Apple to pay $6.75 million in civil penalties and allocate $18.25 million to an unspecified number of affected workers. Key Points
Economic TimesState to appoint 1,700 constables, 300 officers at jails
The state cabinet has approved the recruitment of 1,700 constables and 300 officers at jails in Maharashtra, where there has been no recruitment since 2006. The prison department currently has a shortage of 400 constables. The recruitment process is expected to take eight months, followed by a year of training. The department is also in talks with TCS for the recruitment of 215 technical personnel. There is also a proposal to get Indian Police Service officers to work as senior superintendents, but so far none have shown interest. | Mumbai news Key Points
Hindustan TimesProbe on insurers over, Income Tax department finds alleged tax evasion of Rs 15,000 cr
Apart from the IT department, the insurers were also investigated by the Directorate General of GST Intelligence (DGGI). While the DGGI was probing them for fake input tax credit (ITC) claims, the tax department was investigating alleged tax evasion in violation of Insurance Regulatory and Development Authority of India (IRDAI) norms. Key Points
Economic TimesPower minister’s stress on improving work culture in electricity department
Employees of the power department need to have better approach to work and better behaviour towards the consumers while ensuring dedication to work. The need of the hour is decentralized system of working for required improvement in services provided by the electricity department, said the minister.. Key Points
Hindustan TimesAfter India summons envoy, US says it will continue to follow Kejriwal's and Congress' tax cases closely
US State department Spokesperson Matthew Miller also said that they are aware of the Congress party's allegations that tax authorities have frozen some of their bank accounts in a manner that will make it challenging to effectively campaign in the upcoming elections. And we encourage fair, transparent and timely legal processes for each of these issues. Key Points
Economic Times