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Tax officers suggest 40% tax on super-rich, COVID-19 cess to boost revenue

Tax officers suggest 40% tax on super-rich, COVID-19 cess to boost revenue

A group of  tax officers has suggested a super-rich tax and a higher levy on foreign companies to keep the cash running as part of short term measures to help the government fight the COVID-19 pandemic.   The recommendations are part of a policy paper titled “Fiscal Options & Response to …

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Advocate appears in “Baniyan” through video conferencing hearing, Rajasthan High court adjourns matter (Read Order Copy)

Advocate appears in "Baniyan" through video conferencing hearing, Rajasthan High court adjourns matter

The Rajasthan High Court on April 24 adjourned a bail plea as an advocate appeared in a ‘baniyan’ (vest) during a bail plea hearing through video conferencing.  Justice Sanjeev Prakash Sharma of the criticised the advocate for not appearing in proper uniform during the hearing via video-conferencing on Friday. Advocate …

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RBI allows banks to issue electronic cards for overdraft accounts (Read Notification)

RBI allows banks to issue electronic cards for overdraft accounts

The Reserve Bank of India (RBI) has permitted scheduled commercial banks to issue electronic cards to customers having overdraft accounts that are only in the nature of personal loan without any specific end-use restrictions. The card can be issued for a period not exceeding the validity of the facility.  Banks, …

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Govt. takes a giant leap in midnight order, lets local shops open from today (Read Order Copy)

Govt. takes a giant leap in midnight order, lets local shops open from today (Read Order Copy)

Giving sought of relaxation to the public at large, Ministry of Home Affairs (MHA) on Friday night allowed opening of neighbourhood and stand alone shops, including those located in residential complexes within municipal areas, but at a 50% strength and after taking necessary precautions.     However, shops in market places, …

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BREAKING: MHA issues Order to States/UTs to allow Opening of Certain Categories of Shops, except those in Single and Multi-brand Malls

MHA issues Order to States/UTs to allow Opening of Certain Categories of Shops, except those in Single and Multi-brand Malls

Ministry of Home Affairs (MHA), on 15.04.2020, had issued an order to exempt certain activities under the consolidated revised guidelines to fight COVID-19, in certain areas not included in hotspots/containment zones.  Giving relaxation in the category of Commercial and private establishments, MHA has issued an order to all States/UTs, to …

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Income Tax Tribunal, ITAT, for the first time, holds hearing through video conferencing

Income Tax Tribunal, ITAT, for the first time, holds hearing through video conferencing

A division bench of the Income Tax Appellate Tribunal (ITAT), led by the Tribunal’s President Justice P.P. Bhatt, has, through web based video conferencing platform, heard and disposed of an urgent stay petition today. This is a first in the 79-year-old history of this Tribunal. The petition was heard by …

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Government Working on a Separate Scheme to Address Delayed Payments Issues of MSME’s – Nitin Gadkari

Government Working on a Separate Scheme to Address Delayed Payments Issues of MSME's - Nitin Gadkari

Union Minister for MSME and Road Transport and Highways, Shri Nitin Gadkari today said that Government is working on a separate scheme to address delayed payments issues of MSMEs wherein a dedicated fund will be created for payments to MSMEs.  While commenting on delayed payments to MSMEs, Gadkari said that …

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ICSI’s E-Learning Revolution

ICSI's E-Learning Revolution

As the world braces up with Coronavirus Pandemic, the ensuing lockdown has brought about a new challenge for Educational Institutions. Providing a safe and healthy learning environment has become more important than ever.   The Institute of Company Secretaries of India (ICSI), rising to the occasion, has demonstrated its preparedness in …

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Centre Suspends DA Hike For Govt Employees Till July 2021 Without Arrears, Saves 37,000 Crores

Centre Suspends DA Hike For Govt Employees Till July 2021 Without Arrears, Saves 37,000 Crores

As government’s finances come under pressure during the lockdown, the finance ministry today announced that it has put on hold a hike in dearness allowance (DA) for central government employees and dearness relief (DR) for central government pensioners till July 2021.   “In view of the crisis arising out of Covid-19, …

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