Daily Archive: August 29, 2017

No Proposal to Reintroduce 1,000 Rupee Note, Says Centre

New Delhi, August 29: The Centre on Tuesday dismissed claims of reintroduction of 1,000 rupee notes and said there is no proposal to bring back such currency notes, yet. This declaration comes amid speculations and reports which claimed that the government is likely to reintroduce 1,000 rupee notes with ‘enhanced security features’. The Economic Affairs Department however, quashed such claims and said no such plan is yet in the pipeline.

Economic Affairs Secretary SC Garg on Tuesday said that there is no proposal to reintroduce 1,000 rupee notes. Noteworthy that DNA Money, quoted an official who said the printing presses at Mysore and Salboni were being prepared to print the brand new 1,000 rupee currency notes. “Printing of Rs 2,000-denominated notes stopped at least six months back and now the Rs 200 notes are getting printed at these presses. Next in line for printing is the Rs 1,000 note,” he said.

As per a report on early Tuesday, the new 1,000 rupee notes were expected to have enhanced security features, compared to the earlier ones. It also stated that preparation for the design and paper for printing the notes are in full swing.

With this new series of 1,000 rupee notes, it was expected the gap between Rs. 500 and Rs. 2000 will disappear. However, as per the new clarification issued by the Economic Affairs, it is clear that such is impossible, at least for a few more years.

In an India.com report it was stated that to achieve the optimal system of currency especially at the lower end of denominations, there is a logical need to introduce the missing denomination of Rs 1000, which will make the present currency system more efficient.

Income Tax Department Faces Major Shortage of Manpower: Reports

New Delhi, August 29: To weed out black money and end the menace of corruption from the system, Prime Minister Narendra Modi on November 8, 2016 announced the scrapping of Rs 500 and Rs 1000 currency notes. As per recent reports, the Income Tax Department is facing major manpower crunch. Due to this crunch, there are no officials in the department to carry out different processes like tracking people and taking action against them. In a letter to the Central Board of Direct Taxes (CBDT), the Income Tax Department’s Employees Organization has requested to provide necessary manpower.

As per reports by Money Bhaskar, about 3,000 posts of Income Tax Inspector are vacant and the burden of work at the level of Assessment Officer is very high.  Due to this, the Income Tax Department is not able to take action against people not following the rules related to tax evasion and income tax. The government has taken a lot of efforts to weed out black money from the system. As per reports by Money Bhaskar, the organization says that if the government provides necessary manpower, then the Income Tax Department can add 10 million people to the tax net. Reports state that till August 5 this year, the Income Tax Department has added 3.3 million new ASSI, i.e. 33 lakh people to the tax net. Sources were quoted saying that if there was sufficient manpower then this number could have been up to 10 million.

The CBDT earlier this month said that all income tax offices will remain open until Saturday midnight to facilitate manual filing of income tax returns for the 2016-17 fiscal on the last day fixed for such filings. The government had extended the deadline to file income tax returns (ITR) to August 5. “As a result of demonetisation and Operation Clean Money, there is a substantial increase in the number of Income Tax Returns (ITRs) filed,” the Finance Ministry said here in a statement.

According to sources, 40 percent of the Income Tax Department posts were vacant in the time of demonetisaton. Now 9 months after the ban, the number has increased to almost 50 percent. The government in August first week said the income tax returns filed in the current fiscal has seen a 25 per cent increase and the advance individual income tax collections have gone up by 42 per cent. As many as 2.83 crore income tax returns were filed till August 5 this year as compared to 2.27 crore returns filed in 2016-17 assessment year.

एप्पल 12 सितंबर को लांच कर सकता है आईफोन 8

सैन फ्रांसिसको| मोबाइल कंपनी एप्पल अपने नए फ्लैगशिप डिवाइस आईफोन 8 को 12 सितंबर को लांच कर सकती है. एक मीडिया रिपोर्ट में यह जानकारी दी गई है. वॉल स्ट्रीट जर्नल के मुताबिक, कंपनी तीन नए डिवाइस जारी करने वाली है. इसमें आईफोन 8 के साथ आईफोन 7 और 7 प्लस के नए संस्करण भी शामिल हैं, जिनके नाम आईफोन 7एस और आईफोन 7एस प्लस रखे जाएंगे.

फोर्ब्स की रिपोर्ट में कहा गया है कि लीक हुई कई सूचनाओं के मुताबिक आईफोन 8 के एक मॉडल से यह पुष्टि हुई है कि यह एक बेजललेस फोन होगा और इसकी स्क्रीन का आस्पेक्ट रेशियो 18.5 : 9 हो सकता है, जैसा गैलेक्सी एस8 और गैलेक्सी एस8 प्लस का है.

इसमें दो रियर कैमरे होंगे. इसका टच आईडी पीछे की तरफ एप्पल के लोगो के ठीक नीचे होगा. जहां तक आईफोन 7 और आईफोन 7 प्लस के नए संस्करणों का सवाल है, लीक में दिखी कई तस्वीरों से पता चलता है कि इनका पिछला हिस्सा ग्लास से बना होगा. इसके अलावा ये वायरलेस चार्जिग की सुविधा से भी लैस होंगे.

National Lok Adalat on September 17

Greater Noida, Aug 29 (PTI) The National Legal Services Authority will organise National Lok Adalat at district and revenue courts at tehsils on September 17, an official said today.

“The next pre-trial date for motor accident claim cases is on September 1. The National Lok Adalat which was earlier scheduled for September 9 has been rescheduled to September 17 at district and tehsil courts,” District Legal Services Authority secretary Neelu Mainwal said.

“We have appealed to all the advocates to brief their clients about the National Lok Adalat. It reduces the burden on courts by acting as an alternative dispute resolution system,” the official said.

Under the Legal Services Act only legal services authorities at the national, state, district and taluk levels can hold these adalats, she said.

It gives statutory backing to the settlement at lok adalats, Maliwal said, adding that there is no court fee payable when a matter is filed in a Lok Adalat.

The persons deciding cases in Lok Adalats have the role of statutory conciliators and they can only persuade the parties to come to a conclusion for settling the dispute outside the court, she said.

Vipin Kumar Bhati president Gautam Buddha Nagar District Court Bar Association said, “The association has directed the advocates to ensure success of National Lok Adalats.

Global Crude oil price of Indian Basket was US$ 51.04* per bbl on 28.08.2017

The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 51.04* per barrel (bbl) on 28.08.2017.

In rupee terms, the price of Indian Basket decreased to Rs. 3259.93 per bbl on 28.08.2017 as compared to Rs. 3270.01 per bbl on 25.08.2017. Rupee closed stronger at Rs. 63.87 per US$ on 28.08.2017 as compared to Rs. 64.07 per US$ on 25.08.2017. The table below gives details in this regard:

Particulars Unit Price on August 28, 2017 Previous trading day i.e. (25.08.2017)
Crude Oil (Indian Basket) ($/bbl)          51.04*               
(Rs/bbl)        3259.93          (3270.01)
Exchange Rate (Rs/$)          63.87             64.07

 

*Due to holiday in UK on 28.08.2017, the quotes for Brent are not available. Since Brent prices are not available, the price of Indian basket Crude oil cannot be derived, Hence Indian Basket prices of 25.08.2017 have been considered.