K.R.Srivats
New Delhi |
Updated on
January 17, 2021
Gajendra Haldea - Bijoy Ghosh×
With Gajendra Haldea’s demise, a former 1973 batch IAS officer, on January 15 at the age of 71, the country has lost a selfless infrastructure expert who was entirely devoted to infrastructure projects and its implementation in the recent decades.
From saving thousands of crores for the central exchequer through his astute advice on rejecting the one-sided contracts proposed by foreign power producers such as Enron to being the architect of the institutional and policy framework on infrastructure besides the standardised model documents for attracting private participation in infrastructure projects, Haldea’s contribution was immense and noteworthy.
WHAT ARE ACTS REGULATED BY THE FINANCE BILL Acts Regulated By The Finance Bill Generally, the Finance Bill makes amendments to existing rules and laws regarding taxes, government expenditure, financial policy, etc. As a result, laws such as the Income-Tax Act, The Indian Stamp Act, UTI Act or FRBM Act, Securities Contracts Regulation Act, Forward Contracts Regulation Act, Foreign Exchange Management Act, Prevention of Money Laundering Act, etc, may be amended by the Finance Bill. a) Clause 4 of the Finance Act amended section 23 of the Income-tax Act to allow taxpayers an option to claim nil annual income from any two houses declared as self-occupied, instead of one such house as was earlier applicable. It said that notional rent with regard to unsold inventory would not be charged to tax for up to two years, instead of one at present, from the end of the financial year in which the certificate of completion is obtained from a compete
In January 2008, the Financial Intelligence Unit (FIU-IND) of the finance ministry had flagged a foreign direct investment (FDI) of over Rs 305 crore by three Mauritius-based companies in INX Media Pvt Ltd, then owned by Peter and Indrani Mukerjea. The Income Tax department handed over the case to the Enforcement Directorate (ED), which in 2010 registered a case against INX Media for alleged Foreign Exchange Management Act (FEMA) violations. Around six years later, while investigating a company associated with Karti Chidambaram, ED found documents linked to INX Media. The documents indicated payments were made to Karti’s said company by INX Media at the time the finance ministry granted it FIPB approval. After this, the Central Bureau of Investigation (CBI) registered an FIR on May 15, 2017, alleging irregularities in the FIPB clearance, and ED lodged a money laundering case in 2018.
Read more about HC seeks Future s stand on Amazon plea to set aside court observations on Business Standard. The prima facie observations by a single judge are that the US e-commerce giant s attempt to control the Indian entity was violative of FEMA and FDI rules
The News Scroll 13 January 2021
Last Updated at 1:27 pm | Source: PTI
HC seeks Future Retail s stand on Amazon plea to set aside court observations against it Outlook January 13, 2021 13:27 IST HC seeks Future Retail s stand on Amazon plea to set aside court observations against it outlookindia.com 1970-01-01T05:30:00+0530
New Delhi, Jan 13 (PTI) The Delhi High Court Wednesday sought response of Kishore Biyani-led Future Retail Ltd (FRL) on Amazon s plea challenging the prima facie observations by a single judge that the US e-commerce giant s attempt to control the Indian entity was violative of FEMA and FDI rules.
A bench of Chief Justice D N Patel and Justice Jyoti Singh issued notice to FRL, Future Coupons Pvt Ltd (FCPL), Reliance Retail and the Biyanis seeking their stand on the plea by Amazon against the observations made by the single judge in a December 21, 2020 interim order.