Daily Archives: July 18, 2016

No Tax on Interest accrued on banks NPA on notional basis

HIGH COURT OF KARNATAKA Commissioner of Income-tax, Belgaum v. Shri Siddeshwar Co-Operative Bank Ltd. ANAND BYRAREDDY AND L. NARAYANA SWAMY, JJ. IT APPEAL NOS. 200004 TO 200008 OF 2014 & 200001 OF 2015 JUNE  22, 2016 Ameet Kumar Deshpande and Y.V. Raviraj, Advocates for the Appellant. G. Venkatesh and A. Shankar, Advocates for the Respondent.… Read More »

CBDT signs 7 Unilateral Advance Pricing Agreements (APAs)

Central Board of Direct Taxes (CBDT) signs seven Unilateral Advance Pricing Agreements (APAs) The Central Board of Direct Taxes (CBDT) entered into seven (7) Unilateral Advance Pricing Agreements (APAs) today, i.e., 18th July, 2016, with Indian taxpayers. Some of these agreements also have a “Rollback” provision in them. The APA Scheme was introduced in the… Read More »

Use of Municipal Solid Waste for Construction of Highways

Use of Municipal Solid Waste for Construction of NHS National Highways Authority of India (NHAI) is likely to utilise Municipal Solid Waste (MSW) from nearby site in Gazipur, East Delhi for widening from 4 lane to 16 lane, of NH-24 on a pilot basis on the basis of investigation by Central Roads Research institute. This… Read More »

Steps to Tackle Vehicular Pollution

Steps to Tackle Vehicular Pollution  The Ministry of Road Transport and Highways has taken the following steps to tackle the problem of vehicular pollution: Introduction of alternate fuels: Flex Fuel ethanol notified vide G.S.R. 412 (E) dated 19.05.2015 and GSR 176 (E) dated 16.02.2016permitting usage of flex fuel i.e. E85, ED95 and E100  ethanol based… Read More »

Govt Steps to Reduce Road Accidents

Steps to Reduce Road Accidents During the year  2015,  5.01 lakhs road accidents were reported in India out of which 1.46 lakhs caused deaths. The cause of road accidents along with the number of accidents and number of persons killed during the calendar year 2015 are given in the following table:   Table: Causes of … Read More »

Installation of Safety Devices on Public Transport Vehicles

Installation of Safety Devices on Public Transport Vehicles The Government of India has issued draft notification number G.S.R. 478(E) dated 2nd May 2016, regarding fitment of Vehicle Location Tracking Device, CCTV Surveillance System and Alert Buttons on transport vehicles. According to this notification, it is compulsory for all transport vehicles to be equipped with vehicle… Read More »

Criteria for LPG Distributorships

Criteria for LPG Distributorships The Minister of State (I/C) for Petroleum & Natural Gas Shri Dharmendra Pradhan informed the Lok Sabha in a written reply today that recently, the Government has modified the selection guidelines for LPG distributorship and a Unified set of Guidelines have been framed for all types of LPG distributorship of Public… Read More »

Charging Capitation Fee by Colleges is punshishable

Check on Capitation Fee by Colleges There have been complaints of charging of capitation fee by some professional colleges. In order to regulate this, and in accordance with the Supreme Court of India’s directions, a National Fee Committee under the chairmanship of Justice B. N. Shrikrishna was constituted for fixing norms and guidelines for charging… Read More »

Direct to Home Education through SWAYAM Prabha

SWAYAM Prabha-Educational Contents through DTH Government has approved a project to launch the ‘SWAYAM Prabha’-a project for operationalising 32 Direct to Home (DTH) Television Channels for providing high quality educational content to all teachers, students and citizens across the country interested in lifelong learning. There will be new content of four hours every day, which… Read More »

Govt Steps to Check Corporal Punishment in Schools

Steps to Check Corporal Punishment in Schools Right of Children to Free and Compulsory Education (RTE) Act, 2009, prohibits ‘physical punishment’ and ‘mental harassment’ under Section 17(1) and makes it a punishable offence under Section 17(2). The National Commission for Protection of Child Rights (NCPCR) and the State Commissions for Protection of Child Rights (SCPCRs)… Read More »

Sanskrit in Schools

Sanskrit in Schools Government of India had constituted a Committee under the Chairmanship of Shri N. Gopalaswami, Chancellor, Rashtriya Sanskrit Vidyapeetha, Tirupati to suggest a long term vision and road map for the development of Sanskrit. The Committee has, inter-alia, recommended the following: (i) National Council of Educational Research and Training (NCERT) may collect data… Read More »

Steps to curb ragging in Universities

Steps to curb ragging in Universities During the financial year 2015-16, Ministry of HRD allocated a sum of Rs. 5 crore for Media Campaign to UGC for undertaking a publicity campaign against ragging in Higher Educational Institutions in the country. The UGC has spent an amount of Rs. 4.78 crore on various activities, including preparing… Read More »

Deadline to File ITR 31st July : Income Tax Deptt Reminder

With less than a fortnight left to file the annual ITRs by individuals and other category of taxpayers, the Income Tax department has suggested assessees to opt for e-filing of their returns for a hassle-free processing of the annual returns filing exercise. “By this time last year, you may have had already electronically filed your… Read More »