Department Financial News

manufacturing and increasing exports to USD 500 billion by 2030 from 10-11 sectors, including automobiles, pharma, textiles, medical devices and chemicals, a senior official said on Thursday. These issues were discussed during a meeting called by the Commerce and Industry Ministry on Thursday. The meeting was convened by the Department of Promotion of Industry and Internal Trade (DPIIT) in collaboration with Invest India and SCALE (Steering Committee for Advancing Local Value-Add and Exports) Committee to unveil outcomes and recommendations made during the Chintan Shivir for Manufacturing, held on October 12 at Bharat Mandapam here.

income tax department on Thursday clarified the applicability of TDS liability of e-retailers trading through the government's ONDC initiative. As per the FAQ issued by the Central Board of Direct Taxes (CBDT), a 1% TDS will have to be deducted from the gross sale amount after including convenience/ packaging/shipping fees as charged by ecommerce trading platforms for the order placed on ONDC. As ONDC or Open Network for Digital Commerce is a new initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), the CBDT had received representations seeking clarity on who should be liable for Tax Deducted at Source (TDS) compliance under I-T laws.

Manipur, the state government has set up a three-member panel to probe into the issuance of No Objection Certificate (NOC) by unauthorized persons/ officials to the Central board. Joint secretary of Manipur schools’ education department, Anjali Chongtham, in an order issued recently, said that CBSE had withdrawn the affiliation on the ground that the NOC submitted by the 25 schools from Kangpokpi and Churachandpur districts had not been issued by the state government’s authorized functionaries. According to an order issued on December 22 by the same officer, the inquiry committee should submit its report to the state government by January 5, next year. L Nandakumar Singh, director of Manipur schools’ education department, is the chairman of the probe panel, and the department’s additional director (valley), Bisheshwar Khumukcham is the member, while additional director (Hills) Dangmei Manglem is the member-secretary, said the order. The terms of reference of the committee is to find out officials “responsible for issuing the NOCs without due process,” “find out if signatures have been forged,” and recommend appropriate action against responsible officials. “In case of any evidence of forgeries, appropriate legal action to be taken by filing FIR, etc.,” said the order." The development leading to the constitution of the investigation committee came after one Lamtinthang Haokip had recently claimed on ‘X’, formerly twitter, that 16 schools from Kangpokpi and 20 from Churachandpur had been affiliated to CBSC. Manipur education department, reacting to it, clarified that no NOC for affiliation to CBSE had been issued by the state government to any institutions in the two districts since May this year. When the post

By Shubham Batra and Amruta Khandekar

By Jonathan Landay

By Amina Niasse

ecommerce policy being formulated by the commerce and industry ministry is in the final stages and expected to be announced very soon, union minister Piyush Goyal said on Thursday. In August, the Department for Promotion of Industry and Internal Trade (DPIIT) held a detailed discussion with representatives of ecommerce firms and a domestic traders' body on the proposed policy. «It is at the final stages of discussion at the highest level in the government. We hope to come out very soon,» the commerce and industry minister told reporters here when asked about the policy.

PTI. The video showed some students of the government school cleaning and scrubbing toilets, which led to protest from parents. In December, this is the third such incident in the state.

Economist Peter Morici reacts to the Fed signaling that it could cut interest rates three times in 2024, on 'Varney & Co.'

Noida and Greater Noida on Friday and Saturday. This decision comes in response to the prevailing cold weather conditions in the region.

private space industry has sought bold and transformative reforms with clarity on the foreign direct investment to propel the nascent sector in the new year. The industry had welcomed the government decision, reflected in the Telecommunications Act approved by Parliament, to adopt the administrative route for allocation of satellite-based spectrum which would help bridge the digital divide by enabling space-based broadband internet access to remote parts of the country.

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₹50 lakhs, foreign travel, high-value credit card spends. Taxpayers should respond via the IT department’s compliance portal by selecting an appropriate response out of the four available options -- information is correct, information is duplicate/included in other PAN, information is incorrect and the residual category response in ‘others’.

A Moroccan man is facing charges in Canada after a series of bomb threats in Ontario last month and his arrest by Belgian police, the OPP says.

India Meteorological Department (IMD) on Thursday released a dense fog advisory for Punjab, Haryana, Delhi Uttar Pradesh, north Rajasthan and north Madhya Pradesh. In a post on X, IMD wrote, “Dense Fog Advisory for Punjab, Haryana, Delhi Uttar Pradesh, north Rajasthan and north Madhya Pradesh: Be careful while driving or outing through any transport. Use fog lights during driving.

Delhi Airport FIDS (Flight Information Display System) as reported by ANI. Visuals from Indira Gandhi International Airport, The India Meteorological Department has said that dense to very dense fog is likely to continue over Northwest and parts of adjoining Central India during the next two days.

Coronavirus cases across the country. The director of AIIMS Delhi convened a meeting with all department heads on Wednesday to discuss contingency measures for COVID-19. During the meeting, topics such as the policy on COVID-19 testing, the allocation of specific areas for positive patients, and protocols for their hospitalization were thoroughly addressed. According to the management's COVID-19 testing policy, individuals exhibiting symptoms consistent with Severe Acute Respiratory Infection (SARI), as defined by the World Health Organization (WHO), will undergo testing.

WASHINGTON (Reuters) -The U.S. Federal Trade Commission said on Wednesday it has filed a lawsuit against Grand Canyon University for deceptive advertising, illegal telemarketing and misrepresenting the school as a nonprofit.

Delhi airport and is expected to arrive in Patna (PAT) at 2215 hours. Please stay tuned for further updates," Vistara airline said in a statement. The latest spate of diversions comes as the visibility conditions worsen in Delhi due to dense fog.

NEW DELHI : Exports of all farm commodities may come under the government lens soon, a move that aims to cool domestic prices but may spark global food security concerns. The government plans to bring all agricultural commodities under its export review and minimum export price (MEP) policy, a senior official said on the condition of anonymity. Currently, an inter-ministerial committee (IMC), chaired by the department of commerce (DoC), is responsible for the seasonal review of onion exports.

NEW DELHI : Macquarie Group’s sale of 400 megawatts (MW) solar power projects of its Stride platform has drawn interest from three entities, with the potential deal likely to have an equity value of around $300 million, signalling continued interest in India’s green energy sector. According to two people familiar with the matter, Gentari Sdn Bhd, a subsidiary of Malaysia’s state-run Petronas; private equity firm Actis Llp; and Sekura Energy Ltd, backed by Edelweiss Infrastructure Yield Plus Fund, have shown interest in Stride. Bank of America Corp.