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1.08 cr assessees done with linking; over 25 cr PAN card holders, 111 cr Aadhaar holders in India If you have not linked your Aadhaar with your PAN on the income tax portal yet, you should not delay it. As per latest circular from income tax (I-T) department, it is now mandatory to   link Aadhaar and (PAN)   permanent account number while filing tax returns. The rule which will be applicable from July 1, 2017 is aimed at tax evaders who hold multiple PAN cards to escape paying tax. Therefore, after linking both the Aadhaar and PAN, the government hopes to keep tabs on the taxable transactions of a particular individual or entity, whose identity and address will be verified by his Aadhaar card By linking the two, entities will no longer have to submit their Income Tax acknowledgement to the I-T department, thus saving tax payers a lot of trouble. When linking, make sure that name, date of birth and gender displayed on the income tax website matches with the detail o...

Breaking News   - The government might receive Rs 5,500 crore as tax by those declaring hitherto undisclosed in the amnesty scheme that closes next March. The government received Rs 6,800 crore as tax in a scheme that ended in September, lower than the initially expected Rs 7,500 crore. Those declaring unaccounted wealth till September were allowed to pay 25% of the tax amount in two installments by November 30 and March 31 and 50% in a third installment by September 30, 2017. Many evaders paid the entire tax due by using   demonetisation Rs 500 and Rs 1,000 notes, an official said. “Many people have overpaid the first instalment. Some have even paid the full amount due, while others have paid 50% or 70%. They used this as an opportunity to discard their old notes,” the official added. Those declaring undisclosed income in the previous scheme had to pay 45% of the declared amount as taxes, penalty and surcharge. Although the government earlier said it had verified ...

7th Pay Commission: Cabinet approves big pay hike for government employees The union cabinet, led by Prime Minister Narendra Modi, on Wednesday approved the recommendations of the Seventh Pay Commission, a move which will boost consumption by putting extra disposable income in the hands of the central government’s 4.7 million employees. The   Seventh Pay Commission   (7th CPC) had recommended a 23.5 per cent increase in pay, pension and allowances under a ‘business as usual’ scenario. It had envisaged an increase in pay of Rs 39,100 crore, increase in allowances of Rs 29,300 crore and increase in pension of Rs 33,700 crore, taking the total financial impact for 2016-17 to Rs 1.02 lakh crore. The   pay panel   revisions are in force retrospectively from January 1, 2016. Finance Minister Arun Jaitley had said before the budget that he would provide Rs 1.1 lakh crore and the budget documents showed that Rs 1.06 lakh crore has been provided for. The centre ...

SBI clerk prelims results & main exam call letters released The  SBI Clerk Results  have been announced after a long wait for the prelims exam held in the month of May &  JUNE.IT  was part of the clerk recruitment to fill Junior associate & Junior agriculture associate posts in State bank of India.SBI had advertised to fill 17000+ clerk vacancies across various states in the month of April 2016. The results for preliminary exams held on May 22, 28, 29 & June 4, 5 have been released now. Normally, candidates are provided a website link to login using their registration number & password/ date of birth to check result Status will display whether the specific person has qualified qualified or not. But this year, you cannot check SBI clerk result status online.Because there is no such link on their website. Instead, the bank has activated the link to download call letters for main exams.Only those who clear the prelims are eligible to ap...

Tim Cook likely to open Apple's Hyderabad tech centre on Thursday   At a time when there was a heightened discussion going on about Apple Computer Inc.'s possible manufacturing plans for India, its chief executive officer Tim Cook   is likely to arrive in Hyderabad on Thursday to open Apple's first technology development centre outside the USA. Apple management's decision to first look for leveraging the human resources in India for its new software offerings came to light last year with news reports suggesting that the iPhone maker was examining various cities in India for a possible location for its tech center. After pitching hard for this facility, Telangana government gave first hints earlier this year indicating that Apple management had in fact zeroed in on Hyderabad for establishing the facility. Later, the company also shared the details about its India plans. Earlier this month there were news reports suggesting that Foxconn, the Apple's OEM pa...

The "removal" of India's first prime minister  Jawaharlal Nehru 's name from new textbooks for classes sixth to eight in Rajasthan elicited a strong reaction from the Congress even as the Bharatiya Janata Party (BJP) denied any wrongdoing. The textbook, according to an  Indian Express  report, has been written "following a year-long curriculum re­structuring exercise". According to a  NDTV  report, the textbook, "Samajik Vigyan", makes no mention of  Nehru as a freedom fighter or as "a leader of Independent India". The report adds that the textbook does not mention Mahatma Gandhi's assassination at the hands of Nathuram Godse. The Rajasthan unit of the Congress on Sunday reacted strongly to the move. State Congress chief Sachin Pilot told IANS on phone: "It's absolutely unacceptable that the BJP is working in a vindictive manner by not even mentioning India's first prime minister in the textbooks." Re...

No mobile handset will be sold in India without the facility of identifying the location through Satellite based GPS from January 2018, the notification said From January 1 next year, all   mobile phones   sold in India will come with a panic button enabling users, especially women, to send out distress signals in case of an emergency. A notification by the department of telecommunications said no mobile phone handset shall be sold in India from January 1, 2017, without the facility of having a panic button and all phones need to compulsorily have global positioning system (GPS) facility from January 1, 2018. "Technology is solely meant to make human life better and what better than using it for the security of women," Communications and Information & Technology Minister Ravi Shankar Prasad said. Once a panic button is pressed, a call will be directed to the emergency contact - family, friend or police. Though, details are yet to be finalised. For feature ...

Vijay Mallya, the Indian liquor baron battling creditors seeking to recover dues, offered to deposit Rs 1,590 crore ($240 million) with India's top court to establish his intent to settle with lenders who had rejected an earlier payment proposal. Lawyers representing the founder of the collapsed   Kingfisher Airlines   Ltd, who the government says left the country earlier this year, filed an affidavit in the Supreme Court on Thursday in response to a directive to declare all his assets. The debt owed by the failed carrier is at the centre of India's drive to crack down on defaulters and clean up the balance sheets of its banks weighed down by soured loans. Mallya also told the court that overseas assets are not considered while granting loans, and sought permission to file information of his assets in a sealed cover on June 26. He also said banks had no right to any of this information as they were not involved in overseas assets recast. He further added that he ca...