Aanchal Magazine

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As aviation sector bleeds, Reliance looks at Jet Airways and Air India

Reliance is not among the parties that submitted an Expression of Interest (EoI) to the lenders for acquiring Jet Airways. One source, who did not wish to be identified, said it may join UAE-headquartered Etihad Airways in its bid at a later date

CBDT to officers: Inform Election Commission on raids while poll code is in force

The CBDT issued the order on Wednesday, a day after it was ticked off by the EC for not keeping it in the loop on the recent raids on Opposition leaders.

What Govt calls neutral: Six months, fifteen raids against Opposition

During the same period, information available in the public domain shows, searches were conducted at premises linked to one BJP functionary in Uttarakhand — the party later distanced itself from the individual.

Congress, BJP spar as I-T raids Kamal Nath aides

The searches were carried out after information was received of suspicious cash holdings, and are linked to suspected movement of unaccounted money ahead of the elections and alleged tax evasion, officials claimed.

Discrepancy of Rs 12 lakh crore in declared value of services for 2015-16 stokes leakage worry

The Board has now asked its field formations to verify the mismatch data for both 2015-16 and 2016-17 and take “necessary follow-up action”.

GST mop-up at record Rs 1.06 lakh crore in March; Centre misses FY19 target

While the Centre’s GST revenue is estimated to be less by around Rs 70,000 crore from the revised estimate for 2018-19, on the direct tax front, the collections are learnt to have slipped by around Rs 30,000-35,000 crore.

Slipping on tax targets, CBDT goes all-out to boost mop-up

The income tax department has also asked banks to deposit their TDS (Tax Deducted at Source) for March by March 31, earlier than the due date of April 7.

Few details, Rs 3.6 lakh crore-question: Will Rahul Gandhi’s minimum income scheme be a top-up or subsidy tweak?

According to the Central Statistics Office, there were 24.95 crore households in India in 2011. If every household in the bottom 20 per cent is eligible for this income, this translates into a total expenditure of about Rs 3.6 lakh crore annually.

Consensus on release of withheld jobs report; sub-group to look into methodological issues

The timing of the release of the withheld PLFS report is, however, not clear as of now with the Model Code of Conduct in place after the announcement of elections, another source said.

Before Govt blocked jobs report, stats panel search body tweaked in its favour

Earlier, the composition of the search committee, according to the MoSPI Resolution dated June 1, 2005, was: Deputy Chairman, Planning Commission as Chairperson along with an RBI Deputy Governor and “two eminent persons.

Panel to discuss comparability of withheld job survey with earlier reports

The Standing Committee on Labour Force Statistics , chaired by former University of Calcutta professor S P Mukherjee, had last met on December 4, wherein it had given its go ahead for the PLFS report.

‘Minimum wage hike looks sharper as determination method not revised for long’

"The Central Government has also increased in January 2017 the minimum wages for agricultural and non-agricultural laborers by 30% and 42% respectively to Rs 300 and Rs 350 a day."

Slowdown in farm and manufacturing pushes GDP growth to 6.6%, six-quarter low

The overall GDP growth estimate for 2018-19 was also revised downwards to a five-year low of 7.0 per cent as per the second advance estimates released by government.

Lower GST in housing: how, why

GST Council has revised rates. How concerns of the states were taken into account, what follows next.

Relief for home buyers as GST Council announces rate cut for real estate

The Goods and Services Tax (GST) Council Sunday lowered the tax rate for under-construction housing to five per cent (without input tax credit) from the present effective rate of 12 per cent (after one-third abatement of land).

GST Council meeting pushed to Sunday

“Today's meeting has been adjourned till Sunday,” Arun Jaitley said, adding discussion on real estate and lottery will continue.

GST on real estate, lottery: Opposition wants detailed meeting

With the recent defeat of the BJP in three states, the composition of the Council has changed and the central ruling party will require support in case all Opposition-ruled states decide to vote against the proposal.

Expert committee recommends Rs 9,750 monthly national minimum wage

Panel suggests five regional minimum wages between Rs 8,892-Rs 11,622/month.

Delayed filing of returns: Rs 4,172 crore late fee collected since GST launch

Fee for late filing of returns is Rs 25 per day for CGST and an equal amount under State GST.

On GST Council table: Tax relief for real estate, duty relaxation for exporters

The proposal was discussed in 26th GST Council meeting in March last year and since many technical, legal and administrative issues were identified, its implementation was put on hold.