Read more at: https://www.deccanherald.com/business/business-news/vodafone-idea-makes-full-payment-to-dot-with-interest-following-showcause-notice-974713.html
Friday, April 16, 2021
Vodafone Idea makes full payment to DoT with interest following showcause notice Read more at: https:/Deccan Herald April 16 2021
Read more at: https://www.deccanherald.com/business/business-news/vodafone-idea-makes-full-payment-to-dot-with-interest-following-showcause-notice-974713.html
WHAT HAS P.M.MODI ACHIEVED??? A MUST READ BY ALL INDIANS
Pic by livemint-
(Country is presently divided into two: 1. Vast majority supporting MODI. They will be with Modi come what may. They see everything GOOD about Modi. 2. Yes there is Miniscule Minority which is dead set against Modi who make Anti Modi Videos and unsuccessfully try to spread hatred against him)
They are mostly thieves/Tax evaders Supported by Corrupt Political Dynasties who have made tons of money during earlier Regimes but Modi is coming hard on them. It might take time but ultimately they will be eliminated.
However, I pity those who spread hate against Modi. They are not harming Modi but their own Children and Grandchildren who will face Hell if Modi or BJP is not Reelected. What will be the ALTERNATIVE - A rag tag COALITION of about 15 disparate groups all wanting to be PM, like what you see in Maharashtra these days. PM on monthly or quarterly basis. Even a party with one MP like Muslim Owaisi will stake claim to be the PM.
Cost of all this dreadful scenario may not be paid by us but our future generations. That's the pity - cost of our indulgence as Modi batters.
Now, why I speak in favour of Shri MODI:--
1. Ever since the beginning of my service I realised that the Planning Commission was not serving any useful purpose. I wanted it abolished. This PM Modi did it.
2. I always felt that our tax structure is outdated. When I was posted as Commissioner, Commercial Tax in Bihar, I understood the need for this even more. I tried my own for some rationalization. But that was just local tinkering. I was happy when VAT came. But GST was the best thing that could happen. So, I was happy.
3. I could never digest from my childhood of Nehru's decision to give a special status to J&K. Then as I grew up I heard the stories of corruption, then pogrom against Kashmiri Brahmins by these netas in J&K. Crores of rupees were being drained in J&K for nothing. So when the PM removed this special status and our MEA did an outstanding job in shutting up Pakistan and China on this issue, I was very very happy. बन्दे मे है दम. I realised.
4. I used to feel extremely angry every time Pakistan sent terrorists and killed our policemen. This PM taught those bastards a lesson by URI and Balakot missions and is continuing to kill these rats emerging from tunnels at many places in Kashmir.
5. My family had suffered mentally, physically, psychologically, financially due to the partition of Bengal and subsequent ill treatment in east Pakistan. Those non-Muslims left behind in Pakistan, Bangladesh, Afghanistan, parts of 'Real' India, had and are continuing to have a miserable time on a daily basis. PM Modi brought CAA and gave them the loving assurance that India will take them back in the family. At last one man, Shri Narendra Modi understood our pain and suffering.
6. My constant worry was the weaknesses of our Armed Forces due to successive governments dilly - dallying in upgrading our Defence technology, equipment, armaments. This PM put that on a fast track. Not only that, he focused on developing infrastructure - roads, bridges, road tunnels in our border areas. I feel safe now. Earlier I was not.
7. Amarjit, a friend of mine has told me the tremendous amount of rural development work that has been done by this PM. Amarjit should know because he was the Secretary, Rural Development and now Advisor in the PMO till few days back.
8. I always felt that it is a shame that in certain parts of our country women have to walk miles to get water. The Water mission has been introduced to address this issue and great results are showing.
9. Most news channels and newspapers carry on a constant diatribe against Shri Modi. He does not react. He showed extreme tolerance when for months together protestors blocked roads in Shah-in-baug. Same patience being shown in the farmers' agitation. That shows his democratic spirit.
10. The officers he has chosen to assist him, Dr P K Mishra, Bhaskar Khulbe, P K Sinha, Amarjit Sinha in PMO, Rajiv Guaba as Cabinet Secretary, Bharat Lal for his Water Mission, Shakti Kant Das as Governor, RBI, and various other officers in key positions, are known for their integrity, brilliance and delivering capacity. It can't get better than this.
11. He has chosen outstanding ex-civil servants as Ministers in his cabinet. My friend R K Singh is in independent charge of Power and MNRE. His contribution is visible to all. V Jaishankar, a brilliant career diplomat is Foreign minister. Another career diplomat has been made Civil Aviation minister. So, he is drawing the best talents to run the government.
12. This PM avenged our humiliation of 1962 by giving a sound thrashing to the Chinese soldiers at Galwan. Chinese soldiers are now shit scared to face the Indian Army. Further proof of their humiliation came yesterday when Xi changed his Army General which was obviously because the previous one got Xi and China humiliated by getting thrashed by our brave soldiers.
13. Shri Modi's slogan " न खाऊंगा न खाने दूँगा " is a reality now. We civil servants have waited decades after Shastri Ji left us in 1965, to have an honest PM. We have MODI now.
Now tell me. If whatever I have ever dreamt for my nation is being done by this PM what is my fault if I like and support him ? "
For the last 20 years we have been eating imported pulses.
Which Modi Ji has discontinued 2 years ago, and now has stopped completely due to Corona .. That is why it is now Rudali, an agriculture movement, an excuse.
In 2005, the Manmohan Congress Party government had stopped subsidizing pulses in India according to a secret treaty with our enemy.
Only two years later, a new government treaty was formed in which India would import pulses from Canada, Australia and the Netherlands.
In 2005, Canada opened a large lentil growing farm in which most of the Punjabi Khalistani Sikhs were kept. Their organizations were first able to be the managers of Gurudwaras.
So in 2007 there was so much production of pulses in Canada which was called Yellow Revolution. Because their customers were agents of the mandis of India .. Some of them are Congress Party families or most of them are Akalis, Maharaja Patiala family and Badal family.
Today, the Modi agricultural policy has surgically blocked the income of all these brokers.
Now if India is no longer their market, then the amount of money that Canada and other countries have put on these farms in their countries .. is not only wasted but unemployment affected with such a huge market of India went out of their hands.
The Congress Party is the biggest broker and anti-India in this entire scam.
As we have seen CWC VP and CCP VP sign a deal in China for setting up trade, manufacturing in China. At the cost of Indian economy, labor, employment, business just to share riches with their Chamchas.
Gave crumbs to the poor thru NREGA
Modi Ji is exposing one of their scams. He is closing every door to their income. .... Hi Toba, that's about it. That is why even Canada debates in its bill in Parliament and is threatening BJP to send its Khalistani villagers there to India. Khalistani mind is the creation of Congress and the favorite of Pakistan. The Home Minister also does not want to raise them because the Congress and others have not been fully exposed yet.
Edited & Forwarded by Capt. Ravi Mahajan
Contributor Col RPSingh
FaceBook POST BY MR PRABEER BASU, IAS-1976 (BIHAR)
Thursday, April 15, 2021
WHY "SHAHEED UDHAM SINGH" SACRIFICE NOT RECOGNISED BY GANDHI AND CONGRESS ?
"He is a mad man" - said *Gandhi !*
"His act was a senseless deed" - said *Nehru !*
"We condemn his act of terror and apologise and hope we are not punished for it" - - resolution passed by *Congress !*
He was *Shaheed Udham Singh* and the senseless deed he did was that he killed *Michael Dwyer.*
Michael was the *monster* who massacred 1526 innocent unarmed peaceful Indians in *Jalian wala Bagh in 1919.*
Udham singh was a 19 years old volunteer who was serving Water to the 20,000 people gathered in the garden on festival of Baisakhi.
They were brutally massacred by Gen Dwyer and Udham singh was live witness to it.
He wanted to avenge the brutality and get some sense of justice to these martyrs.
British GOVT didn’t take any action.
*Congress couldn't get British to act on Dwyer.*
So Dwyer happily retired to England and was leading a peaceful rich life.
*Meanwhile, Udham singh joined Gadhar Party and fought for freedom.*
He was jailed for 5 years and there he was inspired by death and martyrdom of *Bhagat Singh* who wanted to take action on Dwyer.
After release, he escaped from India through Kashmir. He went to Germany and then to London.
He joined as engineer and pursued Dwyer for 6 years. He procured a gun, learnt shooting and then found that on 13, 1940 Dwyer was speaking in Caxton hall, London.
He hid a gun in a book in which he had carved a place for gun. Sat in front row and shot two bullets into heart and lung of Dwyer.
He died instantly.
He didn’t escape. He bravely courted arrest.
He told these words to the judge:
*"I did it because I had a grudge against him. He deserved it. He was the real culprit. He wanted to crush the spirit of my people, so I have crushed him. For full 21 years, I have been trying to seek vengeance. I am happy that I have done the job. I am not scared of death. I am dying for my country. I have seen my people starving in India under the British rule. I have protested against this, it was my duty. What greater honour could be bestowed on me than death for the sake of my motherland?”*
He was sentenced to death in the court.
He fasted for 42 days in the jail and was brutally tortured and hanged on July 31, 1940
*Meanwhile in India congress condemned his act. Gandhi and Nehru abused him for making British angry and they forced Congress to pass a resolution against killing of Dwyer.*
They were very busy those days helping British recruit Indian soldiers for World War - II and they didn’t want Punjab to get upset wirh British.
This is our great freedom fighting party which condemned killing of a monster like Dwyer who massacred 1526 people in Punjab.
*Udham Singh was buried in London and like other freedom fighter's, he is forgotten in India.*
*No textbooks talk about him.*
Few people know about him.
*I am happy that they are making a movie on this patriot and coincidently it will be released on Gandhiji's birthday on Oct 2. His story is a great and inspiring one.*
Mayawati named a District in Uttarakhand after him in 1995, perhaps the only good deed she has done in her life and in 1974 his remains were exhumed and brought to Bharat and he was cremated here.
His ashes are in an urn in *Jalian Wala Bagh.*
Let this message be passed to generations next.
Contributor SatnamSingh
Sunday, April 11, 2021
AN INTERESTING COINCIDENCE ABOUT THE DEATH OF PRINCE PHILIP
PRINCE PHILIP DIED AT 9.00 A.M.ON THE 9TH APRIL,THE 99TH DAY OF THE YEAR AT THE AGE OF 99.
Saturday, April 10, 2021
Yes Bank executes its first trade borrowing transaction linked to SOFR Our Bureau Mumbai | Updated on April 09, 2021:-the Hindu -Business Line :-used here for educational purposes only
SOFR is an identified replacement for USD LIBOR (London Inter-Bank Offered Rate), which is likely to be phased out at the end of 2021.
Private sector lender Yes Bank has executed its first Secured Overnight Financing Rate (SOFR) linked transaction.
SOFR is an identified replacement for USD LIBOR (London Inter-Bank Offered Rate), which is likely to be phased out at the end of 2021.
“The transaction was a trade borrowing availed from Wells Fargo Bank and will provide further impetus to the bank’s export finance business,” Yes Bank said in a statement, adding that it is part of its benchmark transition management plan and is the first step towards a smooth transition to the new Alternative Reference Rates (ARR).
Also read: Privatising public sector banks isn’t a good idea
“This is an on-balance sheet transaction and is an industry-first onshore foreign currency borrowing on the SOFR benchmark. The bank will take strides towards adopting the new standards in the global context and this borrowing will support the bank’s endeavour to transition and adopt the new ARR,” said Ashish Agarwal, Global Head, Wholesale Banking, Yes Bank.
Santanu Sengupta, Managing Director and Head, CIB – FIG, APAC South, Wells Fargo Bank further said, “As the global financial markets transition from LIBOR to ARR, we are delighted to partner with Yes Bank on their first SOFR benchmarked loan.”
Thursday, April 8, 2021
Status of GTL Infra Case ;-Source SCI
| Diary No. | Year | |||
|---|---|---|---|---|
Diary No.- 7319 - 2020
GTL INFRASTRUCTURE LIMITED vs. CANARA BANK
| Diary No. | 7319/2020 Filed on 22-02-2020 12:03 PM PENDING [SECTION: IX] |
| Case No. | SLP(C) No. 005256 - / 2020 Registered on 26-02-2020 (Verified On 29-02-2020) |
| Present/Last Listed On | 05-04-2021 [HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN and HON'BLE MR. JUSTICE B.R. GAVAI] |
| Status/Stage | Pending - (Motion Hearing [ORDERS (INCOMPLETE MATTERS / IAs / CRLMPs)]) Notice on IA, Notice Returnable (D:0,W:2,M:0)-Ord dt:05-04-2021 |
| Tentatively case may be listed on (likely to be listed on) | 23-04-2021 (Computer generated) |
| Category | 1010-Company Law, Mrtp, Trai, Sebi, Idrai & Rbi : Matters pertaining to TRAI / SEBI / IDRAI and RBI including Appeals U/S 18 of TRAI Act, Indian Electricity Act, 1910 and 2003, Electricity Supply Act, 1948 and Electricity Reforms Commission Act, 1998 |
| Act | |
| Petitioner(s) | 1 GTL INFRASTRUCTURE LIMITED |
| Respondent(s) | 1 CANARA BANK 2 CORPORATION BANK 3 INDIAN BANK 4 VIJAYA BANK 5 IDBI BANK 6 LIFE INSURANCE CORPORATION OF INDIA 7 EDELWEISS ASSET RECONSTRUCTION COMPANY LIMITED |
| Pet. Advocate(s) | SANDEEP SUDHAKAR DESHMUKH[P-1] |
| Resp. Advocate(s) | SARVESH SINGH[R-1] S. S. SHROFF[R-7] M. V. KINI & ASSOCIATES[R-6] |
Airtel refused to pay Videocon AGR dues: DoT
The Department of Telecommunications (DoT) has told India’s apex court that telecom major Bharti Airtel has refused to pay the adjusted gross revenue (AGR)-related dues of defunct telco Videocon Telecommunications (VTL), whose spectrum was acquired by the Sunil Mittal-led carrier in 2016.
Wednesday, April 7, 2021
Vodafone Idea Ltd:-Details of Shares held in VIL by wholly owned Subsidiaries of Vodafone International Holdings B.V.(Also promoter of VIL)
Date: 1 April 2021 To, BSE Limited 25th Floor Phiroze Jeejebhoy Towers Dalal Street Mumbai – 400 001 Vodafone Idea Limited Suman Tower Plot No. 18, Sector 11 Gandhinagar – 382 011 Gujarat National Stock Exchange of India Limited Exchange Plaza Bandra Kurla Complex Bandra (East) Mumbai – 400 051 Sub: Disclosure under Regulation 30(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (the “Takeover Code”) Dear Sir/Madam, Please find enclosed the disclosure of aggregate shareholding and voting rights in Vodafone Idea Limited as of 31 March 2021 under Regulation 30(2) of the Takeover Code by Al-Amin Investments Limited, Asian Telecommunication Investments (Mauritius) Limited, CCII (Mauritius), Inc., Euro Pacific Securities Ltd, Mobilvest, Prime Metals Ltd, Trans Crystal Ltd, Vodafone Telecommunications (India) Limited, Omega Telecom Holdings Private Limited and Usha Martin Telematics Limited. Yours sincerely, For and on behalf of Omega Telecom Holdings Private For and on behalf of Usha Martin Telematics Limited ______________________ Name: Abhijeet Modak Title: Company Secretary Place: Pune Limited ______________________ Name: Abhijeet Modak Title: Company Secretary Place: Pune 2 For and on behalf of Al-Amin Investments Limited ______________________ Name: Gerhardus Adriaan Van Niekerk Title: Director Place: Mauritius For and on behalf of Asian Telecommunication Investments (Mauritius) Limited ______________________ Name: Gerhardus Adriaan Van Niekerk Title: Director Place: Mauritius For and on behalf of CCII (Mauritius), Inc. ______________________ Name: Gerhardus Adriaan Van Niekerk Title: Director Place: Mauritius For and on behalf of Euro Pacific Securities Ltd ______________________ Name: Gerhardus Adriaan Van Niekerk Title: Director Place: Mauritius For and on behalf of Mobilvest ______________________ Name: Gerhardus Adriaan Van Niekerk Title: Director Place: Mauritius For and on behalf of Prime Metals Ltd ______________________ Name: Gerhardus Adriaan Van Niekerk Title: Director Place: Mauritius For and on behalf of Trans Crystal Ltd ______________________ Name: Gerhardus Adriaan Van Niekerk Title: Director Place: Mauritius For and on behalf of Vodafone Telecommunications (India) Limited ______________________ Name: Gerhardus Adriaan Van Niekerk Title: Director Place: Mauritius 3 Disclosures under Regulation 30(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 Part A – Details of Shareholding
1. Name of the Target Company (TC) Vodafone Idea Limited
2. Name(s) of the stock exchange(s) where the shares of the TC are listed 1. BSE Limited 2. National Stock Exchange of India Limited
3. Particulars of the shareholder(s) :
1. Omega Telecom Holdings Private Limited
2. Usha Martin Telematics Limited
3. Al-Amin Investments Limited
4. Asian Telecommunication Investments (Mauritius) Limited
5. CCII (Mauritius), Inc.
6. Euro Pacific Securities Ltd
7. Mobilvest
8. Prime Metals Ltd
9. Trans Crystal Ltd
10. Vodafone Telecommunications (India) Limited The companies listed in items 1 through 10 above are indirect wholly-owned subsidiaries of Vodafone International Holdings B.V. (also a promoter of Vodafone Idea Limited). Vodafone International Holdings B.V. does not hold any shares or voting rights directly in Vodafone Idea Limited. a. Name of person(s) together with Persons Acting in Concert (PAC) whose total holding (including that in the form of shares, warrants, convertible securities and any other instrument that would entitle the holder to receive shares in the TC) is more than 25% of the voting rights of the TC. or b. Name(s) of promoter(s), member of the promoter group and PAC with him. 4. Particulars of the shareholding of person(s) mentioned at (3) above Number of Shares % w.r.t. total share /voting capital wherever applicable % of total diluted share/voting capital of TC (*) As of March 31st of the year, holding of:
a) Shares Promoters Omega Telecom Holdings Private Limited 279,017,784 % 0.97
Usha Martin Telematics Limited 91,123,113 % 0.32
Al-Amin Investments Limited 812,744,186 % 2.83
Asian Telecommunication Investments (Mauritius) Limited 980,469,868 %3.41
CCII (Mauritius), Inc. 446,059,752 % 1.55
Euro Pacific Securities Ltd 3,198,986,106 %11.13
Mobilvest 1,675,994,466 % 5.83
Prime Metals Ltd 2,185,526,081 % 7.61
Trans Crystal Ltd 1,461,143,311 %5.08
Vodafone Telecommunications (India) Limited 1,624,511,788 % 5.65
Total 12,755,576,455 % 44.38
b) Voting Rights (otherwise than by shares) N.A. N.A. N.A.
c) Warrants N.A. N.A. N.A.
d) Convertible Securities N.A. N.A. N.A.
e) Any other instrument that would entitle the holder to receive shares in the TC N.A. N.A. N.A.
Total 12,755,576,455 %44.38
Note: 1. In case of promoter(s) making disclosure under regulation 30(2), no additional disclosure under regulation 30(1) is required. (*) Diluted share/voting capital means the total number of shares in the TC assuming full conversion of the outstanding convertible securities/warrants into equity shares of the TC.
Monday, April 5, 2021
Indian Railways creates history! Arch of world’s highest rail bridge on Chenab river completed; see features By: Devanjana Nag | April 5, 2021 5:12 PM The iconic Chenab Bridge is a part of the Udhampur-Srinagar-Baramulla rail link (USBRL) project and the completion of the steel arch was one of the most difficult parts of the bridge over Chenab.;-the Financial Express
The iconic Arch Bridge on River Chenab is being constructed by Indian Railways as a part of the USBRL project to link the Kashmir valley to the rest of India.
Historic day for Indian Railways! Taking a major leap towards the completion of the 111 kilometre long winding stretch from Katra to Banihal, today the Northern Railway zone has completed the Arch closure of the world’s highest railway bridge, Chenab Bridge in Jammu and Kashmir. The iconic Chenab Bridge is a part of the Udhampur-Srinagar-Baramulla rail link (USBRL) project and the completion of the steel arch was one of the most difficult parts of the bridge over Chenab. Today, the last piece of metal of 5.6 metres was fitted at the highest point and joined the arch’s two arms that stretch towards each other currently from both the river banks. This completed the arch shape that will then loom over the treacherous Chenab river, flowing below some 359 metres. Here are some salient features of the Arch of the Chenab Bridge:
- The iconic Arch Bridge on River Chenab is being constructed by Indian Railways as a part of the USBRL project to link the Kashmir valley to the rest of India.
- The iconic bridge is 1315 metres long and is the world’s highest railway bridge being 359 metres above the river bed level.
- The Arch of the Chenab Bridge will be 35 meters higher than the Eiffel Tower in Paris.
- Bridge construction involved the fabrication of 28,660 million tonnes steel, 10 lakh cum earthwork, 66,000 cum concrete as well as 26 kilometres motorable roads.
- The Arch comprises of steel boxes. In order to improve stability, concrete will be filled in boxes of the Arch.
- The overall weight of Arch is 10,619 million tonnes.
- For the first time, erection of the members of the arch by overhead cable cranes done on the Indian Railways network.
- For structural detailing, the most sophisticated ‘Tekla’ software was used.
- Structural steel is suitable for temperature from -10°C to 40°C.
Thursday, April 1, 2021
Three more Rafale jets leave for India from France:-ET
Synopsis
The first batch of five Rafale jets arrived in India on July 29, nearly four years after India signed an inter-governmental agreement with France to procure 36 of the aircraft at a cost of Rs 59,000 crore.
Three more Rafale fighter jets on Wednesday took off from France for a non-stop flight to India, the Indian embassy in France said. The jets are being provided mid-air refuelling by aircraft from the United Arab Emirates, it said.
"Another batch of #Rafale take to the skies on non stop flight to India with mid air refueling by UAE. Indian Air power grows further!" the embassy tweeted.
Reliance Infrastructure sells Santacruz HQs to YES Bank to repay debt :-ET
Synopsis
Last year in July, Yes Bank took over the possession of the Santacruz building, which till last year served as the company’s headquarter, and two other smaller properties owned by the company after it failed to repay dues of Rs 2,892 crore.
Income Tax new Rules from Today April 1, 2021:-All you need to know
The new financial year begins on 1 April. Union Finance
Minister Nirmala Sitharaman presenting Union Budget 2021 had announced a slew
of changes in the income tax rules. These changes are set to come into effect
from today, 1 April 2021. So let's take a look at the changes announced in the
Union Budget in February for income tax which will come into effect from
tomorrow.
TDS: In order to make more people file income tax returns
(ITR), the finance minister has proposed higher TDS (tax deducted at source) or
TCS (tax collected at source) rates in budget 2021. The budget has proposed the
insertion of new Sections 206AB and 206CCA in the Income Tax Act as a special
provision for the deduction of higher rates of TDS and TCS, respectively for
the non-filers of an income tax return. "The individuals who have not
filed the income tax returns, however, have a TDS or TCS deduction of more
than ₹50,000 in the last 2 years, will have to
pay TDS or TCS subject to a minimum of 5%. Here the deductor will now become
responsible for collecting the ITR proof from the individuals for
compliance," Archit Gupta, Founder and CEO of Cleartax said.
Option to choose 'New tax regime' instead of Old tax
regime: The government had implemented the new tax regime last year in
Budget 2020. “However, the exercise of choosing one of the tax regimes for FY
2020-21 will be required to be made starting from 1st of April 2021. Taxpayers
still have time until 31st March 2021 to make tax-saving deductions, however,
they will be able to opt for a beneficial regime at the time of filing their
tax returns for FY 2020-21," Archit added.
Senior citizens above 75 years exempted from filing ITR: To ease the compliance
burden on senior citizens, finance minister Nirmala Sitharaman, while
presenting Budget 2021, had exempted individuals above 75 years from filing
income tax returns (ITR). The exemption will be available to only those senior citizens who have no other
income but depend on pension and interest income from the bank hosting the
pension account.
PF tax rules: In the Budget for 2021-22, FM Nirmala Sitharaman capped
the tax-free interest earned on provident fund contribution by employees and
employers together to a maximum of ₹2.5 lakh
in a year. She then raised the limit for tax exemption on interest earned on
provident fund contribution by employees to ₹5
lakh per annum in specified cases as against the proposed ₹2.5 lakh. The up to ₹5
lakh contribution does not include the employer's contribution.
Pre-filled ITR forms: Individual taxpayers will be given
pre-filled Income Tax Returns (ITR). In order to ease compliance for the
taxpayer, details of salary income, tax payments, TDS, etc. already come
pre-filled in income tax returns. To further ease filing of returns, details of
capital gains from listed securities, dividend income, and interest from banks,
post office, etc. will also be pre-filled. The move is aimed at easing the
filing of returns.
LTC scheme: The central government in Budget 2021 has proposed to provide
tax exemption to cash allowance in lieu of Leave Travel Concession (LTC). The
scheme was announced by the government last year for individuals who were
unable to claim their LTC tax benefit due to covid-related
restrictions on travelling. This scheme is only available till 31st March 2021,
i.e. money must be spent by this date to avail of the scheme.
Source:-livemint
Friday, March 19, 2021
Delhi High Court backs Amazon plea, halts Future deal with Reliance :-ET By Shambhavi Anand & Rasul Bailay
The Delhi High Court stopped Future Group from going ahead with the sale of its retail assets to
Reliance
Retail, upholding Amazon’s argument that the Emergency Award of the Singapore International Arbitration Centre (SIAC) should be adhered to.The single-judge bench also asked why Future Group founder Kishore Biyani and others shouldn’t be sent to civil prison, imposed costs of Rs 20 lakh on Future Group and told the latter to approach the authorities to recall all approvals granted to the Future-Reliance deal.
The court held that Future Retail Ltd (FRL), Future Coupons Pvt Ltd (FCPL), Kishore Biyani and others were in violation of the October SIAC Emergency Award that had halted the Future-Reliance transaction until the arbitration was completed. The court was hearing Amazon's plea seeking a direction to order the enforcement of the SIAC ruling.
Future Group had announced in August last year that Reliance Retail Ventures Ltd (RRVL) would acquire its retail assets on a slump-sale basis for about Rs 25,000 crore. Amazon, which owns a 49% stake in Future Coupons, a Future Group holding company, objected to the deal.
Next Hearing in April
Amazon said Future Group had breached a contract that gave the ecommerce giant right of first refusal and barred a sale to entities including Reliance.
Future Group and Amazon didn’t respond to queries.
Lawyers for Future Group and Reliance Retail had argued that the SIAC doesn’t have jurisdiction and that the interim ruling wasn’t valid in India. However, justice JR Midha rejected the argument.
"The respondents have pleaded the interim order to be nullity without pleading the law on nullity; what are the essential ingredients of law on nullity and how the essential ingredients of the law on nullity are satisfied in the present case," read the court’s order. "At the outset, this court finds the submission to be vague and unsubstantiated."
The court also issued a show-cause notice to Biyani and others, asking why they should not be detained in civil prison and directed them to file affidavits detailing their assets. He also directed Biyani and others to be present before the court at the next hearing in April. The Rs 20 lakh costs are to be deposited with the Prime Minister’s Relief Fund, the judge said.
Thursday, March 18, 2021
Vodafone Idea adds users for 1st time in 15 months, gains 1.7 mln users in Jan According to data released by the Telecom Regulatory Authority of India (Trai) on Wednesday, top two telcos Reliance Jio and Bharti Airtel have added 2 million and 5.9 million wireless subscribers respectively. Airtel outpaced Jio for the sixth straight quarter, on user additions.
New Delhi: Struggling telco Vodafone Idea (Vi) added users for the first time in 15 months, gaining 1.7 million wireless subscribers in January, a month where Bharti Airtel continued to outpace rival Reliance Jio, according to data released by the Telecom Regulatory Authority of India (Trai).
Jio though continues to be the number one telco with a wireless base of 410.7 million wireless subscribers, followed by Airtel 344.6 million and Vi’s 286 million. The
The last time Vi showed a net gain in subscribers was in the month of October 2019, which was also the first time it showed a net addition since the merger in August 2018.
Analysts and industry experts say it is too early to judge whether Vi is witnessing a reversal in trend.
“The 1.7 million addition in subscribers in January is definitely a gain, however it may be also an outcome of the base effect of the previous month which reflected large declines,” said Gaurav Dixit, Associate Director, CARE Ratings. “We will have to analyse for a quarter or so to conclude that Vi is finally seeing some sustainable user addition”.
Vodafone Idea made net additions in the Haryana, Kerala, MP and UP(W) circles.
Another analyst said that Vodafone Idea hasn’t made any strategic changes to its tariff structure which could result in this net addition.
As per data, Jio continued to be the number one telco with a wireless base of 410.7 million wireless subscribers, followed by Airtel 344.6 million and Vi’s 286 million. The telcos’ reported numbers however differ from Trai’s due to the how the two sides account for active subscribers.
According to Trai, Bharti Airtel continued to be the leader in terms of active users with 97.44% or 335.8 million active users, while only 79.01% base of Jio was active with 324.5 million users, at the end of January 2021. Vi trailed behind with an active user base of 256.3 million users, which is 89.63% of its total base.
Total wireless subscribers increased from 1,153.77 million at the end of December, 2020 to 1,163.41 million at the end of January, 2021.
In the wireline category, Jio added the highest number of subscribers in the month of January, over 196,437, taking its wireline base to 2.95 million which is almost halfway to Bharti’s wireline base of 4.64 million. Bharti lost 18,545 wireline subscribers in January while the third ranked Vi lost 11,619 wireline subscribers.
Overall, the number of telephone subscribers in India increased from 1,173.83 million at the end of December, 2020 to 1,183.49 million at the end of January, 2021.
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