SPECIAL REGIME
Latest HRA tax exemption rules: Step-by-step guide on how to save income tax on house rent allowance under old income tax regime
HRA tax exemption rules: The HRA tax exemption reduces the total salary before calculating taxable income, helping employees save on taxes. It's important to note that if an employee lives in their own house or does not pay any rent, the HRA received from the employer is fully taxable.
Desi cos want easier entry for foreign experts, including Chinese, to boost local production
Local metal and power producers are requesting a visa regime on par with PLI beneficiaries to address project delays caused by visa processing issues for foreign experts. The government is considering streamlining visa norms to facilitate work visas for non-PLI beneficiaries in strategic sectors.
ITR filing FY 2023-24 FAQs: Name of taxpayer in ITR does not match with name in PAN database; here’s what you can do
ITR filing FY 2023-24: The Income Tax Department has recently published a set of commonly asked questions (FAQs) to assist taxpayers with their return filings for the Assessment Year 2024-25. These FAQs cover a range of important topics and are now available on the tax department's official website.
Telangana phone-tapping case: HC judge, family were under surveillance during BRS regime: Police
Hyderabad Police reveal details of illegal phone tapping during previous regime, involving political leaders and a High Court Judge. Accused officers arrested for erasing evidence and conducting unauthorized surveillance. Investigation ongoing with plans for supplementary charge sheets.
Trai suggests infrastructure status, single-window clearance for broadcasting sector
In July 2023, the ministry of information and broadcasting had urged Trai to provide its inputs for the formulation of the NBP. The Trai had issued a consultation paper on NBP seeking stakeholder comments in April. While suggesting steps to grow the TV and radio footprint in the country, the regulator has also asked the MIB to establish a credible audience measurement system for TV, radio, and OTT.
India offers a special auction of discovered small oil and gas fields
The Indian government is offering three small oil and gas fields in an auction closing on July 15. The Directorate General of Hydrocarbons announced the bid round, with two fields in Mumbai offshore and one coal bed methane field in West Bengal. These fields were previously discovered but left undeveloped. Private players have the opportunity for exploration and full pricing and marketing freedom.
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Central govt employees, private employees can't claim LTA if they don't follow these rules; LTA eligibility, other latest updates
LTA for central govt employees: Employers offer Leave Travel Allowance (LTA) to offset travel expenses during leave. It covers airfare, train tickets, or public transport, but reimbursement is capped by employer or tax limits. Confusions arise, especially with air travel. Here's a breakdown: Can you claim LTA with a confirmed flight ticket? Does the booking platform matter? Is family included? What documents are required for flight-based LTA claims?
Trust Congress 'hand' to better your life: Sonia Gandhi to women
Sonia Gandhi promises women welfare schemes like the 'Mahalakshmi' guarantee in an election appeal. She highlights women's historical role, the Congress' initiatives, and the fight against inflation.
Hassan Case: CM rejects demands for CBI probe, reiterates faith in State Police
Siddaramaiah refuses CBI, trusts State Police in women abuse case. JDS protests video circulation. Revanna probed for assault. BJP reign not given to CBI. Gowda criticizes CBI.
Timely intervention by govt improved Manipur's situation, says PM Modi
There has been a marked improvement in the situation in trouble-torn Manipur due to the timely intervention of the Centre and state government, the Prime Minister said in an interview to The Assam Tribune newspaper.
Russia's security head says the US shares blame for a concert hall attack that killed 144
The head of Russia's national security council suggested that the United States shares blame for the Moscow concert hall attack that killed 144 people, despite the Islamic State claiming responsibility. Russian officials, including President Putin, have accused Ukraine, without evidence, of organizing the attack. Patrushev claimed the attack's "customer and sponsor" leads to Ukrainian special services, controlled by the US. The SCO meeting in Kazakhstan discussed these claims. Russia arrested suspects linked to the attack, alleging they were heading to Ukraine.
India-Mauritius special bonds: 14 India-assisted projects to be inaugurated at President Murmu’s visit this week
India and Mauritius have close relations anchored in shared history, culture, and strategic partnership. The special ties are strengthened through high-level political engagement, cooperation in various sectors, and people-to-people exchanges. The two countries collaborate on development projects, trade, and capacity-building initiatives.
Nagaland assembly resolved request Government of India to reconsider its decision, on Free Movement Regime and fencing along the Indo-Myanmar border
The Nagaland assembly requested the Indian government to reconsider its decision to suspend the Free Movement Regime (FMR) and erect fencing along the Indo-Myanmar border. While some chief ministers welcomed the decision, others opposed it. The Mizo-Zo-Chin community and ENPO highlighted the difficulties faced by tribes along the border.
Free Aadhaar updation, tax saving, SBI special FDs, Paytm: 9 major money deadlines, changes in March 2024
These dates pertain to a few regulations that taxpayers and investors must follow in order to prevent any last-minute headaches or losses due to penalties or fines for missing the deadlines. The following are some of the important dates that fall in the month of March 2024.
NPS investment can save you tax on income up to Rs 9.5 lakh under old, new tax regime: Here's how
Tax saving via NPS investment: There are many income tax laws changes that have come into effect from April 1, 2023 for current FY 2023-24. However, NPS investment is one that can help you save tax in both the old and new tax regimes. However, it is important to know the tax rules to save income tax via NPS investment.
Centre may junk special IBC framework plan for real estate
After extensive deliberations, the government now reckons that such sector-specific mechanisms within the IBC could dilute the very essence of the bankruptcy law and prove to be counter-productive, they told ET. It is expected to amend the IBC after the general election in April-May. Some flexibilities, however, could be built into regulations from time to time to facilitate easier resolution in real estate, one of the persons said.
Panel recommends faster disposal of cases among changes to arbitration regime
An expert panel on arbitration has proposed changes to the current regime, including disposal of cases within 60 days, specialised arbitration benches, and setting up an investment court. It recommended updating the law to reflect global practices and incentivising institutional arbitration. The panel stressed the need for reliable arbitral institutions, adoption of technology, and institutional mechanisms in arbitration.
Government, industry to discuss trade regime of sensitive goods, tech on January 30
Industry leaders, government officials, and international experts will discuss India's export control systems for sensitive goods and technologies at the National Conference on Strategic Trade Controls (NCSTC) on January 30. The conference will focus on India's trade control for dual-use goods, software, and technologies known as Special Chemicals, Organisms, Materials, Equipment, and Technologies (SCOMET).
Ayodhya: TN Govt denying permission for live telecast in Nagercoil, FM alleges, citing a police notice
Finance Minister Nirmala Sitharaman criticizes the DMK-led Tamil Nadu government for allegedly denying permission to broadcast Ayodhya events. Sitharaman highlights instances like the Thovalai Murugan Temple and shares a police order. Tamil Nadu BJP president K Annamalai exposes a recorded conversation implying oral instructions against temple activities. Sitharaman rejects the DMK's law and order justification, denouncing it as anti-Hindu. The state has around 200 Ram temples facing restrictions, leading to accusations of extreme anti-Sanathana Dharma measures. Annamalai asserts the temples don't belong to the ruling family.
Tamil Nadu has banned telecast of Ayodhya event: FM Sitharaman as BJP plans to defy DMK regime with mass pooja
Finance Minister Nirmala Sitharaman accused the DMK regime in Tamil Nadu of banning live telecast of Ram Mandir events. Sitharaman condemned the DMK government for claiming law & order issues as a justification for the ban. She called it a 'false and fake narrative' as there were no such issues on the day of the Ayodhya verdict.
No politics over Ram Mandir, says Karnataka minister Ramalinga Reddy, orders special pooja at temples on Jan 22
Karnataka's Congress regime has ordered a special Pooja at all Hindu temples on January 22, marking the opening of the new Ram Mandir in Ayodhya. Religious Endowment Minister Ramalinga Reddy stated that Hindus have been worshipping Lord Ram for thousands of years and that the Lord belongs to all of us.
Russian opposition leader Alexei Navalny tracked down in 'Polar Wolf' prison
Navalny's allies, who had been preparing for his expected transfer to a "special regime" colony, the harshest grade in Russia's prison system, said he has not been seen by his lawyers since Dec. 6 and raised the alarm about his fate. "Many thanks to our supporters, activists, journalists and the media who are concerned about Alexei's fate and who do not get tired of writing about the situation," Navalny lawyer Ivan Zhdanov said.
Nitish Kumar defends fresh pitch for special category status to Bihar
"We are followers of socialist icon Ram Manohar Lohia who had close ties with Ambedkar. Babasaheb and Lohia happen to be the five persons whom our party officially looks up to for inspiration, the other three being Mahatma Gandhi, Jayaprakash Narayan and (former Bihar CM) Karpoori Thakur", said Kumar, who also remarked, without taking any names, "those in power at the Centre now had played no role in the drafting of Constitution".
Shipping lines see ‘uncertainty’ in EU’s antitrust regime shift
Nine largest shipping lines in the world have grouped up in three alliances and they control over 80% of the global container vessel capacity.
Gamers put real money on table ahead of 28% tax regime
Platforms make special offers to lure heavy-duty gamers in the past 2 months; some clock as much as 300% surge in daily deposits.
Charitable trusts gasp under new regime, plead more time
Well-known firms of audit and tax professionals have requested the finance ministry to defer the new reporting forms.
Insurers concerned about data handling in new digital regime
The introduction of Digital Personal Data Protection Bill, 2023 applies to digital or physical data and covers personal data, except what is publicly available or under legal obligation. This new law is about how personal information is handled and covers data shared online or offline that gets turned into digital format. The law is about how companies use personal information and getting permission from individual before using data.
Karnataka govt forms SIT to probe Bitcoin scam that surfaced during BJP regime
Karnataka Home Minister G Parameshwara on Monday said a Special Investigation Team (SIT) under the Criminal Investigation Department (CID) has been formed to reinvestigate the Bitcoin scam. The Bitcoin scam had surfaced during the previous BJP regime in 2021 and the Congress, which was then in Opposition, had accused the government of trying to cover up the scandal as it involves big names.
2023: A new year, a new regime with trifecta of central bank pause, profit recession & rate cuts
Financial markets may have integrated the bulk of the future hikes, but the level of the Federal Reserve’s terminal rate and quantitative tightening (rolling down the bonds in the books of the Fed) will be critical for the markets. Consequently, this sets markets up for higher volatility.
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