Timeline Refresh
Also, jewellery/gold legally inherited and acquired out of explained sources, is also not chargeable to tax, the finance ministry says. Jewellery/gold purchased out of disclosed income or exempted income or reasonable household savings not chargeable to tax.
The government clarifies that the apprehension sought to be created that the jewellery with the household which is acquired-out of disclosed sources or exempted income shall become taxable under the proposed Taxation Laws (Second Amendment) Bill, 2016, is totally unfounded and baseless.
In the wake of Taxation Laws (Second Amendment) Bill, 2016 which has been passed by the Lok Sabha and is under consideration with Rajya Sabha, some rumours have been making rounds that all gold jewellery including ancestral jewellery shall be taxed @75% plus cess with a further penalty liability of 10% of tax payable.
It is hereby clarified that the above Bill has not introduced any new provision regarding chargeability of tax on jewellery. The Bill only seeks to enhance the applicable tax rate under section 115BBE of the Income-tax Act, 1961 (the Act) from existing 30% to 60% plus surcharge of 25% and cess thereon. This section only provides rate of tax to be charged in case of unexplained investment in assets.
It is clarified that the jewellery/gold purchased out of disclosed income or out of exempted income like agricultural income or out of reasonable household savings or legally inherited which has been acquired out of explained sources is neither chargeable to tax under the existing provisions nor under the proposed amended provisions. In this connection, a reference to instruction No.1916 is also invited which provides that during the search operations, no seizure of gold jewellery and ornaments to the extent of 500 grams per married lady, 250 grams per unmarried lady and 100 grams per male member of the family shall be made. Further, legitimate holding of jewellery upto any extent is fully protected.
Major Kunal did his schooling from Pandharpur and graduated from the Brihan Maharashtra College of Commerce in Pune. He joined the army in 2006 and belonged to the 166 Medium Regiment.
Two officers and five soldiers of the Indian Army were martyred in a terrorist attack on an Army unit in Jammu and Kashmir's Nagrota on Tuesday. Army personnel killed three terrorists and rescued two women, two children and 12 soldiers who had been trapped in a hostage-like situation.
Silver went below the Rs 41,000-mark, tumbling by Rs 735 to Rs 40,700 per kg on reduced offtake by industrial units and coin makers. Traders said sentiment was downbeat, largely in keeping with a weak global trend as the dollar surged to its highest in at least a decade against a basket of currencies on strong economic data and signs that the US Fed is inching towards increasing rates, eroded the metals' appeal as safe-haven assets.
Scientists from the Johns Hopkins University and the University of Texas at Austin in the US said that the scan shows that Lucy's upper limbs were heavily built, similar to champion tree-climbing chimpanzees, supporting the idea that she spent time climbing and used her arms to pull herself up. The fact that her foot was better adapted for upright walking than grasping may mean that climbing placed additional emphasis on Lucy's ability to pull up with her arms and resulted in more heavily built upper limb bones, researchers said.
Exactly how much time Lucy spent in the trees is difficult to determine, they said. A recent study suggested that Lucy died from a fall out of a tall tree. This new study adds to evidence that she may have nested in trees at night to avoid predators, they added.
Crowds chanted I am Fidel! as the convoy started retracing the victory tour that Castros guerrilla took in 1959 to celebrate their defeat of US-backed dictator Fulgencio Batista.
The flag-covered urn, which rested under a glass case on a small olive-green trailer, arrived in Santa Clara after midnight and entered a complex with a mausoleum and museum dedicated to Guevara.
Its a historic meeting, two comandantes who change the history of Cuba and humanity, said Agnier Sanchez, a 33-year-old medical imaging technician.
A somber guitar, song and dance show played across a giant statue of Guevara as the caravan of freedom paused a third of the way into its 950-kilometer (590-mile) trek across the island.
The convoy will resume today, heading to other cities before a final ceremony on Sunday in the eastern city of Santiago de Cuba, where Castros ashes will be laid to rest next to 19th century independence hero Jose Marti.
Cubans were observing the fifth of nine days of mourning for Castro following his death on Friday at age 90. Castro ruled from 1959 until an illness forced him to hand power to his brother Raul in 2006.
Dissidents call Castro a dictator who jailed opponents but others in Cuba praise his legacy of providing free education and health care to Cubans while defying the US empire.
I come from a poor family. I am black. In another era, I wouldnt have had the opportunity to be who I am today, said Maria Gonzalez, a 31-year-old computer engineer.
Castro met Guevara in 1955 while in exile in Mexico, and the young doctor joined Fidel and Raul on the boat that took them to Cuba a year later.
Guevara won a crucial battle in Santa Clara in 1958, derailing an armored train and taking the city.
Guevara was given high-ranking positions in the government but he left in 1966 to lead a guerrilla expedition in Bolivia, where he was captured and executed a year later.
Amid Opposition demand for the presence of Modi through the debate on demonetisation, the Prime Minister reached the Upper House shortly before the Question Hour at 1200 hours.
Questions relating to Prime Minister's Office were listed to be taken up today. However, the House was adjourned after about 15 minutes till 1229 hours.
During this adjournment, Modi remained seated in the House and so were most of the members from both Treasury as well as Opposition benches. Cinestar-turned politician Jaya Bacchan (SP) went to the Prime Minister and was seen exchanging pleasantries. She was followed by AIADMK members and a Left MP.
Renowed boxer and member Mary Kom was also seen discussing certain things with Modi. As members kept meeting him, there were some lighter moments too, as the Prime Minister was seen smiling at times.
Ambani says Reliance Jio has grown faster than Facebook, WhatsApp or Skype.
Ambani says in 3 Months, Reliance Jio has become fastest growing tech co.
"We are humbled by the people's response. 6 lakh customers have been singed by Jio every single day for the last six months. Thanks for believing in us.
"We will be doubling Jio network by March. Jio now fastest growing tech firm.
"25 times more data is being used by a Jio customer than the average Indian broadband customer.
- Home delivery of #Jio sims will be available in 100 cities by December 31: Mukesh Ambani
- Jio now fully supports mobile number portability; Customers can get sims home delivered.
-- Jio has 52 million customers in 3 months.
-- Jio will be free till March 31, 2017. We are calling it the Jio Happy New Year offer.
-- With Jio Money every citizen will now have e-wallet linked to their bank accounts.
-- I would like to congratulate Prime Minister Narendra Modi-ji's bold and historic decision to demonetise old currency.
Although claims were made by various banks that adequate arrangement would be in place to tide over cash crisis on pay day, branches are seen rationing cash depending on their currency stock position. Branches are compelled to resort to rationing because of cash shortage and it is difficult to meet the withdrawal limit of Rs 24,000 per person set by the Reserve Bank, said a senior public sector bank official. Some banks are disbursing only Rs 5,000 per person while those having better cash availability are offering Rs 10,000 or Rs 12,000 per withdrawal.
Making matters worse, a large number of ATMs are still dry even 24 days after the government scrapped 500 and 1,000 rupee notes earlier this month to crack down on black money.
Despite recalibration of nearly 80 per cent of ATMs do not have cash, while people are struggling with the problem of change as the operational ones dispense mostly high denomination Rs 2,000 notes.
Yesterday, a top government official claimed that special efforts are being made to pump in additional cash into banks to meet the heavy demand for currency notes on account of salary withdrawal but situation on the ground is still a far cry.
RBI Governor Urjit Patel had earlier said the central bank is monitoring the situation on a daily basis and taking all necessary actions to "ease the genuine pain of citizens" with a clear intent to normalise the things as early as possible.
The TMC has raised West Bengal CM Mamata Banerjee's 'flight scare' in Parliament with the government now initiating a probe by the DGCA.
Pakistan's missions in Washington and New York were targeted by fake twitter accounts which alleged that the two consulates were raided by US law enforcement agencies in connection with the Ohio terror attack by a Somalian refugee who had reportedly lived in Pakistan.
The two twitter accounts, in particularly Pakistan Embassy UN (@PakEmbassyUN) appeared that it was being handled personally by Maleeha Lodhi, the Pakistani Ambassador to the UN.
In the fake tweet, Lodhi alleged that the Ohio Police, a day earlier raided the Pakistani Embassy in Washington in connection with the terrorist attack carried by Abdul Razak Ali Artan. Artan, a Somalian refugee who reportedly lived in Pakistan for a few years before coming to the US, injured as many as 11 people early this week before he was shot and killed by the Ohio Police.
In this fake account Lodhi alleged that the federal police is now raiding the Permanent Mission of Pakistan to the UN in New York. "Shame that after Ohio Police raid yesterday on Pakistan Embassy, Washington DC their Twitter account is also suspended by FBI. #OhioStateAttack," the fake twitter account said. "Federal police have confiscated some documents of our Embassy in New York regarding #OhioStateAttack," said the second tweet from the same account. "We have bent our flag at Embassy as a protest to the raid regarding #OhioStateAttack. Embassy in New York will remain closed today," said another tweet, which had a picture of Lodhi. Later in the day, both the Pak Embassy in Washington and its Permanent Mission to the UN in New York issued statements, saying that these are fake accounts and have taken up the matter with Twitter.
454 petitions were filed by drug and healthcare majors challenging the Centre's decision to ban 344 fixed dose combination (FDC) medicines, including well known brands like Corex cough syrup, Vicks Action 500 extra and D'Cold.
Justice Rajiv Sahai Endlaw on June 2 had reserved the order after hearing regular arguments of companies like Pfizer, Glenmark, Procter and Gamble and Cipla, the central government and some NGOs like All India Drug Action Network (AIDAN) over a span of over two months, starting from March 14.
The court had on March 14 stayed the Centre's March 10 ban on 344 FDC drugs and this interim order was passed in each and every case filed before it thereafter.
During arguments, the drug companies had contended that the government has not properly implemented the powers under section 26A (power to prohibit manufacture of drugs and cosmetics in public interest) of Drugs and Cosmetics Act, under which the ban was ordered.
They had also argued that the ban order was passed without considering clinical data and had termed as "absurd" the government's claim that it took the decision to ban FDCs on the ground that safer alternatives were available.
The government had banned over 300 FDC drugs on the ground that they involve "risk" to humans and safer alternatives were available.
As per the March 10 notification, "On the basis of recommendations of an expert committee, the central government is satisfied that it is necessary and expedient in public interest to regulate by way of prohibition of manufacture for sale, sale and distribution for human use of said drugs in the country."
Defending its stand, the Centre had argued that the FDC medicines are "new drugs" and thus, require licence from Drugs Controller General of India (DCGI) for sale and manufacture. The government had also said there were no valid licences for making any of the banned FDCs and added it was difficult to implement any action at state level.
However, it had also said that the lack of approval for these FDCs were a secondary issue and the primary focus was that they "lacked safety and efficacy" and thus, "ban was the only answer".
It had also said that the banned FDCs had no "therapeutic justification".
Trinamool Congress lawmaker Mukul Roy has said that an IndiGo flight from Patna to Kolkata, which he was travelling in along with West Bengal Chief Minister Mamata Banerjee on Wednesday evening, was short on fuel as it circled over Kolkata airport for nearly half an hour. Roy says IndiGo flight 6E 0342, on landing at 8:45 pm in Kolkata, was surrounded by fire engines and ambulances.
Minister of State of Aviation Jayant Sinha explained the situation to the house saying the DGCA followed due procedure. Sinha said the Indigo pilot has said he was low on fuel. Two other planes Air India and Spice Jet also said they are low on fuel. "The Indigo flight landed at 8:40 after hovering for 13 minutes. At no time was there any lapse of security procedure. Flights have to have 30 to 40 minutes of fuel as standby. The probe has to be why all the three flights were less on fuel. If there was any violation, we will take strict action. Passenger safety is our #1 priority," MoS Aviation Sinha said.
TMC's Derek O'Brien then asked, "If nobody's life was at stake, why were there emergency services at the tarmac?" The aviation minister says it is par for the course and standard operating procedure. He added a DGCA probe is already underway.
This will be his first such appearance outside the company's annual general meeting. It will broadcast live at 1:30 pm. The announcement of the broadcast on Wednesday sparked speculations about a major announcement.
There are expectations of an announcement for Reliance Jio customers, whose free service end on December 31. Jio got 50 million subscribers in 85 days since its September 5 launch. Also, there could be an expectation of a revelation of the company's foray into direct-to-home business. The dominant players in the sector are Tata Sky, Dish TV and Bharti.On September 1, the company had announced free voice calls '" both local and roaming -- and data at low rates of ~25-50 per gigabyte (GB) till the end of the year. Voice calls, meanwhile, would never be charged on the Jio service, the company said. The cut-off date for joining the scheme is December 3.Since 2014, when social media was first used by the company, it has been adding more platforms to address its stakeholders."MDA', as Mukesh Ambani is known in the company, speaks through these platform "to all' only during extraordinary general meetings, though quarterly result announcements are routinely made by the group chief financial officer and sometimes other senior executives as a matter of routine.
Flame of Truth and Jio Digital Life are the two RIL channels on YouTube. Besides it has FlameOfTruth, RelianceJio and RIL_foundation handles on Twitter.
-- Jyoti Mukul & Megha Manchanda/Business Standard
The Twitter account seems to have been hacked 18 minutes ago, with this tweet:
"We got them keys keys keys.
You really want to lodge a complaint, huh?"
Here's a sampling of the ones without the 'F' word...
INC India @INCIndia 5m5 minutes ago
For every retard out there who thinks we have a political agenda - No, we don't.
INC India @INCIndia 11m11 minutes ago
Inspiration on the way for the common people -
Fight the atrocious system till the day you die!
INC India @INCIndia 13m13 minutes ago
Congress can kiss our ass.
Legion shall prevail, justice shall strike!
INC India @INCIndia 15m15 minutes ago
And rahul gandhi, you can kiss our ass you silly retarded tw4t.
Need some life lessons on autism bro?
INC India @INCIndia 16m16 minutes ago
Coming up is a full dump of inc.in congress emails, stay tuned for Christmas special.
We have enough info to drop your party down to shreds.
Just yesterday, Congress Vice President Rahul Gandhi's official Twitter account was on Wednesday night hacked and some expletives-laden tweets were posted.
Confirming the development, his office said efforts were being made to rectify the problem.
After the hacking, the Congress raised questions on the digital safety of all Indians and said it reflects disturbing insecurities of the prevalent fascist culture in the country.
Gandhi's account was hacked around 8.45 pm and some messages with profanities were put out, but these were deleted soon thereafter.
The name of the verified Twitter handle "@OfficeOfRG" was also changed.
"Such lowly tactics will neither drown the sane voice of reason nor deter Rahul Gandhi from raising people's issues," Congress chief spokesperson Randeep Surjewala said.
"Such unscrupulous, unethical and roguish conduct of venal trolls to hack Rahul Gandhi's Twitter handle reflects disturbing insecurities of prevalent fascist culture," he said.
Surjewala also tweeted, "Pre-meditated hacking of @OfficeOfRG smacks of a sinister conspiracy to abuse and intimidate. It strengthens our resolve to fight for the Nation."
"Hacking of@OfficeofRG proves lack of Digital safety around each one of us. Every digital info can be accessed, altered, morphed & modified," the Congress leader said in another tweet.
Representational image
The letters appeared to be photocopies of a handwritten note referring to Muslims as "vile and filthy people" and saying that President-elect Donald Trump would do to Muslims what Hitler did to Jews. The Council on American-Islamic Relations has asked the FBI to investigate.
Trump made the remarks when Sharif called him last night to congratulate him as the two leaders discussed various issues. "I am ready and willing to play any role that you want me to play to address and find solutions to the outstanding problems. It will be an honour and I will personally do it. Feel free to call me any time even before 20th January, that is before I assume my office," Trump told Sharif, according to a statement issued by the Prime Minister's Office.
Trump also told Prime Minister Sharif that he has a "very good reputation", the statement said. "You (Sharif) are a terrific guy. You are doing amazing work which is visible in every way. I am looking forward to see you soon. As I am talking to you Prime Minister, I feel I am talking to a person I have known for long," Trump was quoted as telling Sharif. Trump said Pakistan is an "amazing" country with "tremendous opportunities", the statement said. "Pakistanis are one of the most intelligent people," the President-elect said.
"Government's move in November 2016 to curtail undeclared wealth by demonetising certain currency notes is likely to take a toll on demand. Property and gold are popular instruments for investing undeclared income in India's large cash-based economy,' it said.
Fitch expects the credit profiles of most residential developers to weaken, as slower sales could mean cash collections will lag construction commitments.
"This would be particularly true for companies that have aggressively expanded their land banks in the past two years by using cash collections from previously sold properties. On the other hand, firms that have liquidity to complete their projects within the next three to six months may be temporarily insulated from the shock,' Fitch said.
Fitch said it expected leverage (defined as net debt/adjusted inventory) of the seven large developers considered in the report to increase in 2017, from around 87 per cent at March-end (FY16) and 82 per cent at FY15.Fitch said it expected leverage of the 7 large developers considered in the report to increase in 2017, from around 87% at March-end (FY16) and 82% at FY15.
-- Business Standard
Dense fog engulfed North India for the second day today with visibility less than 50 metres in New Delhi.
Visibility was very low in Amritsar and other areas of Punjab also. -- ANI
The trio -- Vishakha Verma of Kapurthala, who is perusing MBA from Manipur, her cousin Abhinav Verma, B Tech, from Dhakoli in Zirakpur and their property dealer friend Suman Nagpal of Ludhiana -- were caught in an Audi car with illegal red beacon atop. Two of their accomplices are still at large, Mohali Superintendent of Police Parminder Singh Bhandal told reporters.
The police said post-demonetisation, the accused had begun printing fake Rs 2,000 notes.
According to police, the recovered fake notes were of fine quality and bear close resemblance to the original Rs 2,000 notes.
"With red beacon atop the luxury car, the accused were on their way to dupe a gullible customer when on a tip-off, we intercepted them near Bakarpur village," the SP said.
Preliminary investigations revealed that the Ludhaina-based property dealer used to look for the gullible persons, interested in exchanging junked currency notes of Rs 500 and 1,000, by charging 30 per cent of the total amount.
"After striking a deal, they would give the victims fake currency notes in return," the investigators said.
A case under Sections 420, 489-a, b, c, d and 120-b was registered against the accused, who were sent to one-day police remand by a local court.
The city woke up to its first fog on yesterday which hit air traffic and several flights were delayed.
More details awaited.-- ANI
The 93-year-old former Tamil Nadu chief minister was taken to the hospital early morning, they said.
The hospital authorities said that Karunanidhi was 'admitted for optimisation of nutrition and hydration'.
"He is stable and being treated by a team of doctors. He will be in the hospital for few days," Aravindan Selvaraj, Executive Director of the hospital said.
Karunanidhi has been avoiding public appearances for the past one month as he was undergoing treatment for an allergy and had skipped campaigning for the bypolls to three Tamil Nadu assembly seats last month.