Latest LIVE: Trump announces 'historic' peace pact between UAE, Israel

Sachin Pilot met Rajasthan CM Ashok Gehlot on Thursday, the first time after he openly rebelled against the senior leader a month back. Stay tuned for live updates on latest news

2:38 PM

PM Modi unveils new tax reforms - faceless tax assessment, taxpayers' charter

In a major overhaul of tax administration, Prime Minister Narendra Modi on Thursday unveiled faceless tax assessment and appeals to reduce the scope for corruption and overreach by officials, and said a taxpayers' charter is being implemented to ensure a free, fair and transparent tax environment, news agency PTI reported.

 

Launching the 'Transparent Taxation - Honouring The Honest Platform' through video conferencing, he said the taxpayer base at just 1.5 crore in India is very low and urged those who owe taxes to come forward and honestly pay their dues and contribute to nation-building.

 

The taxpayers' charter and faceless assessment are the next phases of direct tax reforms aimed at easing compliance and rewarding honest taxpayers as the government looks to rebuild the pandemic-hit economy.

While, faceless assessment that does not require the taxpayer to visit any office or meet any official, and taxpayers' charter will be implemented from Thursday, the faceless appeal will come into force from September 25, he said. "The tax system may be turning faceless but it promises fairness and fearlessness for taxpayers," he said.

2:30 PM

Rupee settles on a flat note, down 1 paisa at 74.84 (provisional) against US dollar

2:12 PM

Xiaomi pledges 2,500 smartphones worth Rs 2 crore to kids in India: IANS

India's biggest smartphone seller Xiaomi on Thursday said it has partnered with its network of distributors and retail partners to donate 2,500 brand new smartphones worth Rs 2 crore to help needy children in India to continue their education amid the pandemic. The initiative comes at a time when thousands of students have been unable to attend classes due to Covid-19 related restrictions, according to an IANS report.

 

The company's 2,500 plus strong retail network will come together to donate these over 2,500 smartphones under this initiative which celebrates five years of the company's "Make in India" programme.

2:03 PM

Latest News LIVE: Moderate risk of flash floods in Rajasthan, MP and Chhattisgarh

1:44 PM

China plans to expand railway network to 200,000 km before 2035

China plans to expand its railway network, the second largest in the world, by one-third in the next decade and a half, as part of a long-term plan to rev up urbanisation and stimulate local economies, news agency Reuters reported. China aims to have about 200,000 kilometres (124,274 miles) of railway tracks by the end of 2035, including about 70,000 km of high-speed railway, according to a plan issued by state-owned China State Railway Group.

 

The targets compare with a total length of 141,400 km of existing rail lines as of end-July, among which 36,000 km are high-speed routes, the most in the world, company data showed. The goals would mean a 33.3% increase in China's railway network from this year and a 133% expansion in high-speed railway, according to Reuters calculations.

 

12:46 PM

Interim order of Speaker cannot be judicially reviewed: Kapil Sibal in Rajasthan HC

Senior advocate Kapil Sibal started the debate in Rajasthan High Court on behalf of the Speaker. Sibal said the High Court does not have jurisdiction to hear the case. “The Constitution has given this right to the Speaker. Interim order of Speaker cannot be judicially reviewed.

12:45 PM

Rajasthan politics: High Court hears BSP-Congress merger case

12:44 PM

Rajasthan politics: BJP meet to begin shortly

11:47 AM

PM says number of tax payers in the country is very small percentage of total population

11:45 AM

PM Modi's address has ended

11:44 AM

PM Modi LIVE Updates | Modi urged taxpayes to come forward and file tax returns

"Those who are able to pay tax, but they are not in the tax net yet, they should come forward with self-motivation, this is my request and hope. Let us world towards the reolution of new India, self-reliant India," the PM said.

 

11:43 AM

PM Modi LIVE updates: The number of people who have filed income tax returns has increased by about two-and-a-half crores in the last 6-7 years

However, it is also true that in a country of 130 crores it is still very less: Prime Minister Narendra Modi

11:42 AM

LIVE updates: PM Modi says in the last 6 years, India has seen a new model of governance developing in tax administration

Of all the tax returns filed in 2012-13, scrutiny of 0.94 per cent cases was done. In the year 2018-19, this figure came down to 0.26 per cent. That is, the scrutiny of the case has reduced by almost 4 times. This proves how extensive the change is. In the last 6 years, India has seen a new model of governance developing in tax administration: PM 

 

11:39 AM

LIVE updates: With faceless assessment, the taxpayer is assured of fair, courteous and rational behaviour, says PM Modi

With faceless assessment, the taxpayer is assured of fair, courteous and rational behaviour. That is, the income tax department now has to take care of the taxpayer's dignity sensitively. Now you have to trust the taxpayer, the department cannot doubt anyone without any basis, says Modi

11:38 AM

Taxpayers charter is also a big step in the country's development journey: PM Modi