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Sunday, March 31, 2019

PAN-Aadhaar linkage deadline extended It would still be mandatory, however, to quote the Aadhaar number while filing ITR.

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The government has extended the cut-off date for linking Aadhaar with Permanent Account Number (PAN) to September 30, 2019. 

However, it would be mandatory to quote and link Aadhaar number while filing the return of income from April 1, 2019 unless specifically exempted. 

“The matter has been considered by the Central Government and now the cut-off date for intimating the Aadhaar number and linking PAN with Aadhaar is 30.09.2019, unless specifically exempted,” an official statement said on Sunday.The government’s statement comes in the wake of reports that PANs not linked with Aadhaar number by March 31, 2019 may be invalidated. 


ONLY ONE BEST SONG BY INDIAN FILM INDUSTRY ON APRIL 1ST. (FIRST APRIL FOOLS' DAY)


LONG LIVE HFCL-HAVAN FOR THE WELFARE OF DEJECTED RETAIL INVESTORS OF THE COMPANY WHO ARE NOT GETTING ANY WEALTH GROWTH FOR THE LAST 10 YEARS.MR.NAHATA PLEASE TAKE CARE OF RETAIL INVESTORS NOW FROM NEW FINANCIAL YEAR 2019-20 ON WARDS.


HFCL;- Now only Mr.Shankar Sharma is to pay the balance Allotment money by April 30 2019.



Image result for pic of hfcl groupOn receipts of subscription price equivalent to 25% of the issue price (Issue price being Rs.16 per warrant), the Allotment Committee (Warrants) of Board of Directors at their meeting held on 30th October,2017 had allotted 4,50,00,000 (Four Crore Fifty Lakh Only) Warrants to the following allottees:
Name Group Convertible Warrants
MN Ventures Private Limited (Promoter/Promoter Group) - 75,00,000 
NextWave Communications Private Limited (do) - 75,00,000 
Keventer Capital Limited (Non-Promoter Group) - 1,00,00,000 
Shri Shankar Sharma (do) - 1,00,00,000 
Shri Devashish Poddar (do) - 50,00,000 
Shri Ayush Poddar (do) - 25,00,000 
Smt. Mansi Poddar (do) - 25,00,000

As per the Company's announcement it has  received balance 75% of the issue price from the holders of 3,50,00,000/- Warrants and allotted the Equity shares but now only one allottee named Mr.Shankar Sharma holding 1,00,00,000 Warrants is yet to pay balance 75% which I think he may pay before April 30 2019 in terms of the allotment.

KNOW YOUR PARENTS (KYP)

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Know your Parents: (KYP)
Brilliant Msg!!
One who loves till her eyes close, is a *Mother*.
One who loves without an expression in the eyes, is a *Father*.
____________________________
*Mother* - Introduces you to the world.
*Father* - Introduces the world to you.
___________________________
*Mother* : Gives you life
*Father* : Gives you living
__________________________
*Mother* : Makes sure you are not starving.
*Father* : Makes sure you know the value of starving
__________________________
*Mother* : Personifies Care
*Father*: Personifies Responsibility
__________________________
*Mother* : Protects you from a fall
*Father* : Teaches you to get up from a fall.
__________________________
*Mother* : Teaches you walking.
*Father* : Teaches you walk of life
__________________________
*Mother* : Teaches from her own experiences.
*Father* : Teaches you to learn from your own experiences.
__________________________
*Mother* : Reflects Ideology
*Father* : Reflects Reality
___________________________
*Mother's* love is known to you since birth.
*Father's* love is known when you become a Father.
_________________________
*Mother* loves from *Heart*.
*Father* loves from *Brain*.

Dedicated to all parents. 🙏


Holiday Inn linked to money laundering, hotel attached TNN|Updated: Mar 31, 2019, 09.37 AM IST

DT

NEW DELHI: The Enforcement Directorate has attached Holiday Inn hotel, valued at Rs 120 crore, in the capital's Aerocity in a money laundering case against corporate lobbyist Deepak Talwar. 

Tracking of the alleged proceeds of crime to the tune of Rs 272 crore could further lead to questioning of some top bureaucrats and ministers who managed affairs in the civil aviation ministry during the UPA regime in 2008-09. 

The attachment order came on a day when the agency also filed a chargesheet naming Dubai-based Talwar and his son, Aditya, in a money laundering case. 


The ED said in its attachment order that in lieu of securing favourable traffic rights for Emirates, Air Arabia and Qatar Airways, the international airlines made payments of Rs 272 crore to entities controlled by Talwar during 2008-09. The money from these payments was used to acquire Holiday Inn, ED said. 

Talwar had fled the country in 2017 after tax evasion and money laundering cases were registered against him by multiple agencies. He was deported from Dubai on January 31, arrested by the ED and is currently in judicial custody in Tihar jail. 

"It is revealed that Deepak Talwar illegally engaged in liaising/lobbying with politicians, ministers, other public servants and officials of ministry of civil aviation for airlines such as Emirates, Air Arabia and Qatar Airways for securing undue benefits for them," the agency claimed. 



Trouble in paradise? US magazine says all’s not well between Priyanka Chopra, Nick Jonas The magazine claims that the couple is already headed for a divorce.

Trouble in paradise? US magazine says Priyanka Chopra & Nick Jonas are headed for a divorce

LOS ANGELES: Actress Priyanka Chopra Jonas and Nick Jonas are not having a good time with each other and the couple is already headed for a divorce, claims a magazine. 

According to OK! magazine, the 36-year-old actress and the 26-year-old singer are quickly falling out of love now that they are "starting to really get to know each other", reports gossipcop.com. 

"They've been fighting about everything - work, partying, spending time together. The bottom line is that Nick and Priyanka rushed into things...And now they're paying the price. Their marriage is hanging by a thread," said a source. The source added that Nick believed the actress was "cool and easygoing" when they got married. 


"But recently Nick has seen a controlling side to her. She also has a temper -- that's something Nick wasn't aware of until after the wedding celebrations." According to the source, Nick's family is "begging him to end" the marriage as they initially thought Priyanka was "this mature woman who was ready to settle down and have kids", but they now feel she's a party girl who "acts like she is 21". 

The source says a split could result in a major battle over money. "There are whispers that Nick and Priyanka got married so quickly they didn't take the time to draw up a prenuptial agreement..." 

The couple got married in India in December last year. Priyanka and Nick had three-day wedding festivities at Jodhpur's royal Umaid Bhawan Palace, where they exchanged wedding vows as per both Christian and Hindu rituals in two separate ceremonies. 




Saturday, March 30, 2019

HFCL;-LATEST INFORMATION FOR THE RETAIL INVESTORS OF HFCL

Himachal Futuristic Communication - Announcement under Regulation 30 (LODR)-Allotment 
This is further to our earlier letter(s) dated 22nd August, 2017, 26th August, 2017, 30th October, 2017 and 5th November, 2018, regarding the issue of Warrants convertible into equity shares on preferential basis to Promoters/Promoter Group of companies and Non-Promoters persons/entities.

Promoter/ Promoter Group of the company and non-promoter persons / entity has now exercised their right for conversion of the Warrants into equal nos. of equity shares of the Company, by paying balance 75% of the total consideration, in respect of 2,75,00,000 Warrants so being exercised.

Consequently, the Allotment Committee (Warrants) of the Board of Directors of the Company, at its meeting held today, i.e. on 29th March, 2019, has made allotment of 2,75,00,000 equity shares having face value of Re.1/- each, at a premium of Rs.15/- per equity share, to the Promoter/ Promoter Group of the company and non-promoter persons / entity as per the details given in the attached letter.

End of an 'era': Emperor's exit resets Japan calendar

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End of an era

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The abdication of Japan's Emperor Akihito on April 30 will quite literally mark the end of an era, the Heisei era of his rule, and highly secretive talks have been going on for months on what to call the next one.

This is anything but a procedural issue, as the name of the era has a tangible effect on the daily lives of the Japanese as well as a psychological impact on the nation.
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Chinese-style imperial calendars

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Japan is the only country in the world still using Chinese-style imperial calendars. It might be 2019 in much of the world, but in Japan it is Heisei 31, or the 31st year of Akihito's reign.

While the Gregorian calendar is also widely used in Japan, imperial dates feature on government documents, newspapers, and commercial calendars.

"It is easier to imagine what the time was like if you have eras," said Kunio Kowaguchi, president of major calendar maker Todan.
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With 250 eras

The upcoming end of the Heisei period was even reportedly a factor in the government's decision to implement death sentences last year against 13 members of the Aum cult behind a 1995 sarin attack.

Government officials apparently wanted to a draw a line under the cult's attacks before the Heisei era ends. All 13 executions were carried out in July.

Japan has had nearly 250 eras since adopting the system in the 7th century.
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A tale of eras

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In the past, emperors would switch era names mid-reign to mark a fresh start after natural disasters or crises.

But more recently, an era has run the entire length of a monarch's rule.

Crown Prince Naruhito ascends the Chrysanthemum Throne on May 1. His era name will be announced at 11:30am on Monday -- a month ahead of the ceremony.

And speculation over what the name might be has been rife.
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Real challenge

A new era is a real challenge for companies, which produces 10 million calendars a year, many featuring both Western and imperial dates.

Printing begins a year before release, so it was too late for his 2019 run to feature the new name.

The new imperial era will be the first since the IT revolution, and the tech sector is girding for the transition.

It has inspired comparisons to the "Y2K" bug ahead of the year 2000, when experts worried about a tech apocalypse fearing that computers would not understand the new date.

main inputs from The Economic times:- text used here for educational purposes only.

Friday, March 29, 2019

Provident fund norms: Implications for employees leaving India. ;-livemint Updated: 29 Mar 2019, 01:03 AM IST Vikas Vasal

Photo: Priyanka Parashar/Mint
Widening the global mobility base and providing opportunities for international assignments to employees has become an essential part of almost every multinational corporation. In the last decade India has also steadily witnessed movement of Indian employees to foreign jurisdictions, either on assignments within the existing companies or in search of new employment opportunities. Understandably, movement outside India would entail undertaking various compliances in multiple jurisdictions including meeting the applicable tax, regulatory, labour and other laws.
One of the key aspects that merits attention is the impact on the social security related obligations of the outbound employee in his home country (India) and the host country to ensure that the individual’s social security benefits are not impacted due to an overseas stint.
Social security framework
The social security framework in India mainly caters to the organized sector, i.e. where the workers have a direct and regular employer-employee relationship with an organization. The Employee Provident Fund and Miscellaneous Provisions Act, 1952 (EPF Act) is the main legislation which governs the provident fund, pension and deposit linked insurance schemes under its framework. The EPF Act is applicable to every organization which employs 20 or more employees and follows a contributory scheme where the employer and employee are required to make matching contribution at a specified percentage of the salary. The accumulated balance in the employee provident fund (EPF) account is portable and is transferred to the next employer. Over the years, the contributions have earned an interest of over 8% and are exempt from tax subject to certain conditions.The accumulated balance in the EPF account can be withdrawn in three situations: (i) at the time of retirement, i.e. on or after 58 years of age, (ii) if unemployed for two months or more and (iii) in case of death before specified retirement age. A partial withdrawal is allowed for certain purposes like repayment of home loan; for purchase, construction or renovation of house; meeting wedding expenses; for medical purposes.
Therefore, it is important to understand the impact on the existing balance in the EPF account in case of an employee who moves overseas on arrangements such as deputation, secondment, short-term/ long-term assignments or on transfer or in case of a new employment altogether.
A common issue that revolves around outbound movement and social security contributions is place of payroll, i.e. implications on social security contributions when payroll is continued in the home country versus when the payroll is transferred to a host country. The same has been discussed in subsequent paragraphs.
Payroll continued in India
In cases where an employee is sent to a group company outside India on arrangements such as deputation, secondment or a short-term assignment, the employer-employee relationship with the Indian employer typically remains intact. In a scenario where an outbound employee continues to receive salary in home country (India), then he/she would be under an obligation to continue the social security contributions in India. However, in such cases the employees may also be required to start contributing to the social security schemes in the host country resulting in dual contribution.
In order to mitigate dual contributions, the Indian government has entered into bilateral social security agreements (SSA) with 18 countries which includes Australia, Canada, Japan, Korea and some of the key European countries like Germany, France, Denmark, the Netherlands, Switzerland, etc. Employees being seconded or deputed to any of the countries with which India has an SSA, can obtain a certificate of coverage (CoC) from the EPF authorities based on which they will be exempted from social security contributions/taxes in the host countries.
Employees being sent to countries with which India does not have an SSA may need to contribute to both Indian and the host country’s social security schemes.
Payroll transfer to host nations
The EPF authorities have clarified that payment of salary in India is a necessary element for determining the liability towards social security contribution in India and obtaining a CoC. If salary is not payable by an Indian establishment, the outbound employee will not be considered as an ‘employee’ as per the definition given in the EPF Act. Accordingly, in case of transfer of payroll, say to the employer’s group company in the host country, the social security contribution in India would be discontinued. Similarly, in case where an individual moves overseas for a new employment opportunity, the social security obligations cease to exist in India.
In such a case, the outbound employee may either withdraw the accumulated amount after two months of cessation of employment in India or let the corpus stay invested. The implications under both the options are summarized below:
•Withdrawal of accumulated balance
(a) Employee has rendered less than 5 years of continuous service in India
Out of the total accumulated amount, the employer’s contribution and the interest thereon would be fully taxable as salary income. The employee’s contribution would be taxable to the extent of deduction, if any, claimed in earlier years. The interest earned on employee’s contributions would be taxable as income from other sources in the hands of the employee. The EPF authorities pay out the accumulated amount after tax withholding at a flat rate of 10% and the employee is required to ascertain and deposit any balance tax.
(b) Employee has rendered more than 5 years of continuous service in India
The entire accumulated balance comprising of employee’s contribution, employer’s contribution and interest thereon shall be exempt from tax in India as per the prevailing tax laws.
•Allow the accumulated balance to stay invested
Employees who leave India on cessation of their Indian employment contract can continue to leave the corpus invested. In such a case, interest would be credited annually on the accumulated balance till the time the corpus is maintained with the authorities. It is important to note that the balance standing as on the date of exit from an organization will be fully tax-exempt if the employee had rendered more than five years of continuous service. However, as per a recent tax tribunal decision, any interest credited after leaving the Indian employer is taxable in the year of withdrawal. In case the employment period was less than five years, part of the corpus would be taxable as discussed under the ‘withdrawal’ option above.
FAQs
1.What is the process for withdrawal of the EPF amount?
Withdrawal can be made online (bit.ly/2HHzt98) or by filing the withdrawal form through the Indian employer. In case of the online method, it is important that the individual has an Aadhaar number in India and a Universal Account Number (UAN) provided by the employer. Alternatively, an individual may also submit the prescribed forms with the employer, a cancelled cheque leaf of the bank account for reference, and any other document that may be required to substantiate the claim. The employer is then required to attest the form and send the documents to regional provident fund office for processing the withdrawal.
2.What is the salary on which provident fund contribution is calculated?
Employer and employee each contribute 12% of the monthly pay towards provident fund. Monthly pay for this purpose comprises of the following components:
•Basic wages
•Dearness allowance (all cash payments by whatever name called paid to an employee on account of a rise in the cost of living);
•Retaining allowance; and
•Cash value of any food concession
3.Would the monthly pay be proportionately reduced in case an individual has multiple country responsibilities and spends part of his time outside India?
Provident fund contribution is calculated on the total salary payable on account of his/her employment by a covered establishment in India. This is applicable even for the responsibilities handled outside India.
Akhil Chandna and Ajay Arora contributed to this article.

BIGGEST BLUFF BY RAHUL GANDHI -HIS STUPID PLAN TO GETS VOTES AND F-CK WE TAX PAYERS

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India-US sign pact for exchange of reports to check tax evasion by MNCs


India and the US Wednesday signed an Inter-Governmental Agreement for exchange of Country-by-Country (CbC) reports of multinational companies regarding income allocation and taxes paid to help check cross-border tax evasion.
This agreement for exchange of CbC reports, along with the Bilateral Competent Authority Arrangement, will enable both the countries to automatically exchange CbC reports filed by the ultimate parent entities of multinational enterprises (MNEs) in the respective jurisdictions, pertaining to the years commencing on or after January 1, 2016, a Finance Ministry statement said.
It would also obviate the need for Indian subsidiary companies of US multinationals to do local filing of the CbC reports, thereby reducing the compliance burden.
Read more at:
//economictimes.indiatimes.com/articleshow/68596952.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst