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Category: Income Tax for the West Bengal Govt employees
Shirur landslide: Eight days on, rescuers lock in coordinates of missing lorry after detecting heavy metal beneath Gangavali River | Bangalore News
Eight days on, rescuers have identified the coordinates of the lorry driven by a man who went missing after the July 16 landslide. The victim, Arjun of Kerala, Arjun, who is presumed dead, was driving a BharatBenz truck loaded with 40 tonnes of timber to Kozhikode from Belagavi when he stopped for tea on NH 66. Multiple rescue teams have been searching for him for nearly a week, with efforts hampered by continuous rain. “With the assistance of Navy and ISRO satellites, disaster management teams identified a large metal object…
Overseas education scholarship: Govt revises cut-off score to 60%, but students wary as no official order yet | Mumbai News
The Maharashtra government has decided to the restore the earlier eligibility criteria for overseas education scholarships provided to students from marginalised communities. But with no written orders yet, students fear losing out on their opportunity to study abroad due to the delayed process. Till last year, the cut-off score to avail the scholarship for post-graduation courses abroad was 60 per cent in the qualifying degree course. However, the state government, in June this year, issued an advertisement, inviting applications for the scholarship given to students from OBC and SC categories,…
All About TDS Section 194T w.r.t. Firm-to-Partner Payments
What is the New TDS Section 194T? The Finance Bill, 2024, presents a significant change for partnership firms with the proposal to insert a new TDS section 194T of the Income Tax Act, 1961. The same move has the motive to bring payments made to partners, including salary, remuneration, commission, bonus, and interest, under the TDS purview. At present no provision for TDS on such payments is there. The suggested section 194T of the Income Tax Act obligates the partnership firms to deduct TDS at a 10% rate on aggregate…
New study presented at AIDS 2024: Two yearly shots of Lenacapavir to prevent new HIV infections with 100% effectiveness | Pune News
A twice-yearly injectable drug for HIV prevention, lenacapavir, is a breakthrough advancement in public health. On Wednesday at AIDS 2024, the 25th International AIDS Conference, Linda-Gail Bekker presented the full results from the ‘PURPOSE 1’ trial of twice-yearly injectable lenacapavir for HIV prevention. The new data provides details on the efficacy, safety and tolerability of twice a year lenacapavir injections and were presented at a special late-breaking session at the conference. The data has also been published today in The New England Journal of Medicine. ”The results confirm that lenacapavir…
Understanding the Critical Role of MSMEs in India’s Economy
Micro, Small, and Medium Enterprises (MSMEs) in recent years have attained significant importance in driving economic growth and development. Such businesses secures an important role in creating jobs, fostering innovation, and contributing to the overall Gross Domestic Product (GDP) of a country. The MSMEs importance is been discussed in this blog and also why they are regarded as the backbone of many economies worldwide has been taken into account in this discussion. Define MSME MSMEs are characterized by their size and assets, with detailed criteria ranging from country to country.…
Assam police search Cong MLA’s home in MP over cheating case against his son | India News
A police team from Assam on Wednesday searched the residence of a Congress MLA in Madhya Pradesh’s Tikamgarh city over a cheating case registered against his son, an official said. The team of cops reached the Congress MLA and former minister Yadvendra Singh Bundela’s home, located in the Tal Darwaja area of the city, he said. Superintendent of Police (SP) Rohit Kashwani said a case of cheating has been registered against the lawmaker’s son, Shashwat Singh , in Assam. “A team of Assam police has come here in this regard…
Dept’s Failure to Serve Section 69A Notice Invalidates Assessment Order
The assessment order has been quashed by the Calcutta High Court on the foundation that the department has losses to place the taxpayer on the notice concerning the addition u/s 69A of the income tax. It was noted by the bench of Justice Raja Basu Chowdhury that the judgment incurred via the respondent department as shown in the assessment order does stand corrupt via the causes of failure on the end of the department to put the applicant on notice concerning the addition under section 69A. As the assessment order…
After summons, Sukhbir Singh Badal appears at Sri Akal Takht Sahib | Chandigarh News
Shiromani Akali Dal (SAD) president Sukhbir Singh Badal visited the Sri Akal Takht Sahib in Amritsar on Wednesday more than a week after Akal Takht Jathedar Giani Raghbir Singh asked him to do so. Badal had been asked to appear in person before the supreme temporal seat of the Sikh community within 15 days and submit a written explanation on the allegations levelled by some senior SAD leaders that he “has not represented the sentiments of the Panth”. The Akal Takht Jathedar will now take a call on whether to…
FM Sends Proposal for Amendment S.271H w.r.t Penalty for Late TDS/ TCS Filing
At the time of the Budget presentation at 11 AM on 23rd July 2024, Union Finance Minister Nirmala Sitharaman asked to revise the S.271H of the Income Tax Act pertinent to the penalty for failure to provide the statements. Clause 81 of the bill asked to revise Sec.271H of the Act, sub-section (1) of the section furnishes for penalty in the matter of failure to deliver or cause to be delivered statements referred to S.200(3) or proviso to S.206C (3) or furnishing of inaccurate information in the statement. Read Also:…