Morning News Bulletin: Track the latest stories

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Published: November 1, 2017 6:58:52 AM

The government tonight extended the last date for e-filing of income tax returns for those taxpayers who file audit reports till November 7.

The government tonight extended the last date for e-filing of income tax returns for those taxpayers who file audit reports till November 7.

Deadline for return filing of audit reports extended to November 7

The government tonight extended the last date for e-filing of income tax returns for those taxpayers who file audit reports till November 7.  A senior official said the Central Board of Direct Taxes (CBDT) took the decision to extend the deadline by a week, considering the “representations made by various stakeholders”.  This is the second extension given to them after the first deadline expired on September 30 and it was extended till October 31.
Tax practitioner bodies had sought an extension from the government, saying they needed more time to file returns for entities where tax audit report or transfer pricing report or other audit reports are prescribed to be filled.

GST will further boost India’s ranking in ‘ease of doing business’: Bankers

With the improvement in India’s ranking in the World Bank’s ‘ease of doing business’ report to 100th position, bankers and experts today expressed hope that implementation of the GST will strengthen the country’s position in the future.  “Going forward, GST’s incorporation in next year’s assessment will provide another significant leap in doing- business rankings for India,” Yes Bank managing director Rana Kapoor said in a statement.  It is to be noted that the latest Ease of Doing Business report by the World Bank released today did not take into consideration the implementation of Goods and Services Tax (GST) from July 1, 2017.  Passage of the GST Bill was clearly a watershed moment for the economy but even otherwise there has been a sustained effort to simplify licencing and tax structures, thereby making India a much more investment friendly place to do business, said Axis Bank managing director Shukla Dharma.

To give National Pension System a boost, here is what PFRDA has done; what it really means

In order to increase pension coverage and increase the incentives for points of presence (PoPs)—the principal distributive points for the National Pension System (NPS)—Pension Fund Regulatory and Development Authority (PFRDA) has increased the charges for subscribers of NPS.

Big Aadhaar Card slander: It helped expose farm loan scam, but is now being blamed for causing it

Okay, I have decided that my #aadhaar number is 111111111111 same as that of @thesuniljain”, a journalist jokes on Twitter in response to the story on Maharashtra’s farm loan waiver where it was found hundreds of farmers had the same Aadhaar number and, in many cases, even the same bank account number. The list of farmers who had supposedly defaulted on loans, and who needed waivers, shows 253 farmers with the same Aadhaar number 100000000000. More than 50 farmers have the Aadhaar number 111111111111. “Can I hv 222222222222 ?”, another anti-Aadhaar campaigner tweets in reply. “Ok”, comes the reply, “but no exclusive rights. Just 1000 others will share it with you!!!”. It is not just the Twittersphere, reputable newspapers and magazines are also replete with stories/comment suggesting that if this is how badly Aadhaar has been caught out, how much more is hidden under the hood? As if in response comes the story, from Hyderabad, of how some people stole the Aadhaar data—not the biometrics that are encrypted but the names, ages and Aadhaar numbers—of close to 300 people from an e-seva centre, probably the one where they were enrolled for Aadhaar, and used these to create bank accounts.

Yogi Adityanath drive to modernise madrassas is welcome; here is why

Modernising madrassa education is a crying need—from being centres of learning that offered subjects like mathematics, science, philosophy, etc, along with instruction in the Quran, Islamic jurisprudence and fiqah till well after Independence, a large number of them have now become institutions that primarily offer religious instruction and subjects relevant to understanding and interpreting the religious texts in Islam. In the past, for instance, the madrassa Ghazi-ud-Din that became the Delhi College in late 18th century offered courses in languages, literature and arithmetic. Therefore, the Uttar Pradesh government’s move to introduce NCERT books in madrassas in the state, and make mathematics and science compulsory at the intermediate level, is commendable—it offers children at the madrassas, often committed there by parents, a way out of training just to be a priest/religious scholar.

Pradhan Mantri Ujjwala Yojana: 3 cr LPG connections already issued, Oil Min seeks to serve another 3 cr beneficiaries

With more than 3 crore liquefied petroleum gas (LPG) connections issued within 18 months since the launch of the Pradhan Mantri Ujjwala Yojana (PMUY), the ministry of petroleum and natural gas is set to move a Cabinet note to increase the number of beneficiaries to be covered under the scheme. The ministry is expecting an additional grant of Rs 4,800 crore over and above the already budgeted Rs 8,000 crore to issue 3 crore additional connections on top of the 5 crore targeted earlier. “The work to extend the target to 8 crore is at an advanced stage. A Cabinet note is expected within a month,” said a government official close to the development, requesting anonymity. The initial target of the flagship scheme of the National Democratic Alliance government was to issue 5 crore connections to women belonging to the below-poverty-line category within three years of launching the scheme in May 2016.

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