Shri Prakash Chandra, an IRS (IT) Officer of the 1973 batch, took over as Chairman of Central Board of Direct Taxes (CBDT) today afternoon. He will also continue to look after the work relating to Personnel and Vigilance matters. Shri Chandra was Director General of Income Tax (Investigation) in Rajasthan and later Director General of Income Tax (International Taxation) in Delhi before joining the CBDT as Member.
Errant advertisers could face more heat from industry watch dog ASCI, which has jumped on the social networking bandwagon, encouraging youths to speak out against questionable campaigns through its Facebook and Twitter accounts. Within a month of making its debut on Facebook and Twitter, the Advertising Standards Council of India (ASCI) has already received ten times more complaints against advertisements than the earlier average of 15-20 complaints from individuals and industry against 12 advertisements in a month.
State-owned Bank of India (BoI) today raised fixed deposit rates on various maturities by up to 2.5 per cent. The bank increased the interest rate by 250 basis points (2.5 per cent) to 5.50 per cent for term deposits of 31-45 days” tenor. The deposit rate increase is the maximum in this slab, the bank informed the Bombay Stock Exchange (BSE).
Centre has sought the views of State Governments and Political Parties on certain issues related to drafting of Lokpal Bill. The text of the letter written by the Chairman of the Drafting Committee, Shri Pranab Mukherjee is as follows: The issue of setting up of a Lokpal to curb corruption in high places has been under the consideration of the Government of India for some time. In this context, the Legislative Department had prepared a draft Lokpal Bill in 2010, a copy of which is annexed. Simultaneously, some members from civil society have been advocating setting up of a Lokpal and a draft bill prepared by them is also annexed.
Concerned over low tax-GDP ratio, Home Minister P Chidambaram has pitched for higher taxes on luxury products and imposing inheritance tax. Chidambaram, who is a former finance minister, had expressed these views at the full Planning Commission meeting headed by Prime Minister Manmohan Singh last month.
Let the faith of people of the world be restored in democracy for good, where the supreme power lies with the citizens who themselves elect people to represent them; democracy needs to be celebrated and kept alive by all possible means. Father of our Nation Mahatma Gandhi agrees to its value and suggests that actions inspired by tolerance, nonviolence and love could lay stronger foundations of democracy, and a change of heart can possibly be a better device to change the spirit of democracy, if required and desired. Violence is never a weapon of strong and brave people; it can only represent our moral and intellectual bankruptcy, Mahatma opines. The spirit of democracy has to come from within.
The Delhi High Court today asked Competition Commission to provide the NSE by friday its complete order including views of members dissenting with the majority ruling that held the bourse guilty of abusing market dominance.
The Guidelines are introduced with the objective of enabling the resolution of complaints relating to public grievances against the Customs, Central Excise and Service Tax Department and to facilitate the satisfaction or settlement of such complaints.
Central Bank of India chief S Sridhar today said the industry’s non-performing assets (NPAs) are likely to increase, as some smaller companies that borrowed during the low rates regime would find it difficult to service their loans due to the hike in rates.
5th June 2011 , the last date for admission to Foundation, Intermediate and Final Course for December 2011 term of examination being Sunday, the same is now being extended to the next working day i.e. 6th June 2011. This extension be brought to the general notice of the Students and accordingly arrangements may kindly be made .
