Daily Archive: January 16, 2019

Cabinet sanctions Rs 4,241.97 cr for Integrated e-filing & Centralised project

New Delhi, The Union Cabinet on Wednesday gave its approval to expenditure sanction of Rs 4,241.97 crore for Integrated E-filing and Centralised Processing Center 2.0 Project of the Income Tax Department. The Union Cabinet, chaired by Prime Minister Narendra Modi, also approved the expenditure sanction for the consolidated cost of Rs 1,482.44crore of the existing CPC-ITR 1.0 project upto FY 2018-19. Briefing reporters after the Cabinet meeting, Railway Minister Piyush Goyal said the broad objectives of this project include faster and accurate outcomes for taxpayer, first time right approach, enhancing user experience at all stages, improving taxpayer awareness and education through continuous engagement, promoting voluntary tax compliance and managing outstanding demand. This approval has significant benefits for the Department and taxpayers through various functionalities such as pre-filling of ITR and acceptance by taxpayer as a means to improve accuracy and to reduce refund/processing turnaround time drastically, facilitation to taxpayers in resolving outstanding tax demands; integrated contact centers for taxpayer assistance and tax payer outreach program through digital media and employer/partner accreditation program to bring significant enhancement in services to taxpayers.

The decision will ensure horizontal equity by processing returns filed by all categories of taxpayers across the country in a consistent, uniform, rule driven, identity blind manner. This will assure fairness in tax treatment to every taxpayer irrespective of their status. By faster processing of returns and issue of refunds to the taxpayer’s bank account directly without any interface with the Department, by adhering to international best practices and standards (ISO certification) and by providing processing status updates and speedy communication using mobile app, email, SMS and on the Department website, the decision will ensure transparency and accountability. The proposal ensures the continuation of the Department’s goal towards business transformation through technology. The E-filing and CPC projects have enabled end to end automation of all processes within the Department using various innovative methods to provide taxpayer services and to promote voluntary compliance.

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Govt to infuse Rs 6,000 cr in form of recap bonds in EXIM Bank

New Delhi: The Government would infuse Rs 6,000 crore capital in the Export-Import (EXIM) Bank of India in the form of recapitalisation bonds, the Union Cabinet announced on Wednesday.

The Cabinet, met under the chairmanship of Prime Minister Narendra Modi, also decided to increase the authorised capital of the EXIM Bank from Rs 10,000 crore to Rs 20,000 crore, Railway Minister Piyush Goyal told reporters here.

Mr. Goyal said the equity would be infused in two tranches of Rs 4,500 crore in financial year 2018-19 and Rs 1,500 crore in 2019-20 respectively.

Delhi: Central Industrial Security Force (CISF) yesterday nabbed a foreign person Emmanuel Chinwenwa Ajonuma at IGI Airport for illegally residing in India on expired VISA for 8 years

Delhi: Central Industrial Security Force (CISF) yesterday nabbed a foreign person Emmanuel Chinwenwa Ajonuma at IGI Airport for illegally residing in India on expired VISA for 8 years

”Need to Explore the System of Online #FIR in Railway Network”: Home Minister @rajnathsingh while speaking at conference on Railway Security, in New Delhi

”Need to Explore the System of Online in Railway Network”: Home Minister while speaking at conference on Railway Security, in New Delhi

#Cabinet approves regularisation of Pay Scales of below board level executives in NHPC Ltd., North East Electric Power Corporation, THDC India Ltd. and SJVN Ltd. w.e.f. 1.1.97

approves regularisation of Pay Scales of below board level executives in NHPC Ltd., North East Electric Power Corporation, THDC India Ltd. and SJVN Ltd. w.e.f. 1.1.97

Supreme Court asks Noida and Greater Noida Authority to apprise it as to how to solve the problem of home buyers who are living in Amrapali flats but have not been given registry.

Supreme Court asks Noida and Greater Noida Authority to apprise it as to how to solve the problem of home buyers who are living in Amrapali flats but have not been given registry. SC fixed the matter for further hearing to January 24.