The Supreme Court on Wednesday invoked its extraordinary powers under Article 142 of the Constitution to upload all reassessment notices issued after march 31, 2021, by the income tax department reopening assessments going back six years. In the budget for FY22, the government had reduced this reopening period to three years with effect from April…
India Post has been announced the launch of Online services for the National Pension Scheme (NPS), a voluntary retirement saving scheme that aims to ensure everyone’s financial stability after retirement. Noe all eligible citizens can open an NPS account online without physically visiting any post office. The online service has been made available from April…
If you are also a tax payer then this news is very important for you. The government has changed the rules for filing tax returns. Actually, the government has increased the scope of income tax filing to bring more people into the tax bracket. The Ministry of Finance has given this information. Finance Ministry issued…
Out of the total 14.12 lakh net subscribers added during the month, around 8.41 lakh new members have been enrolled under the social security cover of EPF & MP Act, 1952 for the first time. Approximately 5.71 lakh net subscribers exited but re-joined EPFO by transferring their accumulations from previous PF account to the current…
If you want to invest somewhere safe in the midst of huge fluctuations in the stock market, then the post office scheme is of great use to you. Here you can earn huge profits at zero risk. If you want long term investment under the Post Office Savings Scheme, then the Kisan Vikas Patra (KVP)…
During the Financial Year 2021-22, Ministry of Corporate Affairs (MCA) registered more than 1.67 Lakh company incorporations as compared to 1.55 Lakh companies during FY 2020-21. The increase is significant considering that number of companies incorporated during Financial Year 2020-21 were the highest in any of the previous years. The incorporations during FY 2021-22 are…
“It becomes the responsibility of all the State Governments, knowledge partners and international agencies to support the Panchayats for the attainment of Sustainable Development Goals”, said Shri Sunil Kumar, Secretary, Ministry of Panchayati Raj while addressing the gathering of representatives of Panchayati Raj Institutions, representatives of UNICEF, UNFPA, senior officers of the Central Government and…
The Government has taken several initiatives to support and protect the interest of women and other entrepreneurs through stimulus given under Aatma Nirbhar Bharat Packages to combat the impact of the COVID-19 pandemic in India. The packages comprise of schemes for various sectors of the economy and also schemes having impact across sectors. The specific…
Every Indian person has an Aadhaar card, which has a unique 12-digit number assigned by India’s Unique Identification Authority (UIDAI). It is an identity number that facilitates access to the cardholder’s records, including biometrics and contact information, from a government database. Any person living in India, regardless of age or gender, may sign up to…
The provisional payroll data of EPFO has been released today, i.e., 20th March 2022, which highlights that EPFO has added 15.29 lakh net subscribers during January 2022. Month-on-month comparison of payroll data also indicates an increase of 2.69 lakh net subscribers addition in January, 2022 as compared to the net additions during the previous month of December, 2021….
The average number of the passenger carried in the pre-Covid financial year (2019-20) was around 4 lakh per day. On 6th March 2022, domestic airlines in India carried around 3.7 lakh passengers. The number of daily air passengers may cross pre-COVID levels in a few months. GST reduced from 18% to 5% for domestic Maintenance,…
On the International Women’s Day. Employees’ Provident Fund Organization (EPFO) has made a big announcement. The EPFO has asked all companies to provide 100% e-nomination facility for their women employees, so that they can be recognized and rewarded on Women’s Day. EPFO has tweeted and said, ‘Companies who have not been able to do e-nomination…
The Income Tax Department conducted search and seizure operations on a business group engaged in gaming activity, online betting (including cricket betting), etc. on 15.02.2022. Total of 29 premises spread over Mumbai, Delhi, Surat, Jaipur, Pune and Kolkata were covered. The search action revealed that the group was operating in a clandestine manner and had…
The provisional payroll data of EPFO released on 20th February 2022 highlights that EPFO has added 14.60 lakh net subscribers during December 2021. Comparison shows an increase of around 2.06 lakh in net payroll additions in December 2021 as compared to 12.54 lakh net subscribers added during the corresponding month previous year. For the month of…
The Crypto currency industry has appealed to the government to reexamine the budget proposal to impose a tax deduction at source or TDS on virtual digital assests transactions, saying it will be difficult to comply with. The industries also urged the government to reconsider the decision to levy a tax of 30% on currency market…
There are frequent reports of GST evasion. But now the government is going to take new steps to stop it. Now blockchain technology will be used by the government to curb GST fake billing and GST claims. In the first phase, it will be used for warehousing and monitoring of goods movement. Warehousing monitoring in…
As part of the Aatma nirbhar Bharat Initiative, Ministry of Food Processing Industries is implementing a Centrally Sponsored PM Formalisation of Micro food processing Enterprises (PMFME) Scheme for providing financial, technical and business support for setting up/ up gradation of 2 lakh micro food processing enterprises through credit linked grant during five years from 2020-21…
केंद्रीय बजट में सूक्ष्म आर्थिक स्तर पर सभी समेकित कल्याण पर ध्यान देने के साथ बृहद आर्थिक स्तर वृद्धि पर जोर देने की कल्पना की गई है। केन्द्रीय वित्त एवं कॉरपोरेट कार्य मंत्री श्रीमती निर्मला सीतारमण ने आज संसद में केन्द्रीय बजट 2022-23 पेश किया। बजट की मुख्य बातें निम्न हैं – पीएम गतिशक्तिः पीएम…
If you do a job or business somewhere, then you may have to pay Income Tax. Employed people have to pay income tax not only on salary but also on many things like interest coming from savings, earning from home, side business, capital gains. But do you know that there are some sources of income…
Common people have high hopes from this budget for 2022. Actually, due to the creaking economy and rising inflation due to Corona havoc, people are in the hope that the government can give them relief in this budget. In this sequence, apart from giving a growth booster to the economy, there is a possibility of…
With Fintech adoption rate at 87% against the global average of 64%, India has emerged as one of the largest digital markets in the world. Fintech Sector has huge potential in India, supported by an enabling policy and digital infrastructure framework. As per industry estimate, India has over 676 million smartphone users, over 1.2 billion telecom subscribers…
The Minister of State for Petroleum and Natural Gas, Shri Rameswar Teli in a written reply to a question in the Rajya Sabha today informed that the details of total amount of funds disbursed State-wise from the Start-up Fund by the Central Public Sector Enterprises (CPSEs) under the Ministry of Petroleum & Natural Gas during…
Today is a very important day for the banking sector for the country and for crores of bank account holders of the country. How a big problem that has been going on for decades has been solved, today is a witness to it. In the name given to today’s event, Depositors First is putting the…
To promote startups across all the State/UTs, Government of India has launched Startup India initiative in 2016. This initiative aims at building a strong ecosystem for nurturing innovation and Startups in the country. In order to meet the objectives of the initiative, Government has launched various programmes to promote Startups across the country are as…