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PM Modi will meet this evening for board exams

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PM Modi will meet this evening

PM Modi (Prime Minister Narendra Modi) will hold an important meeting today (Tuesday) evening regarding board exams. In the meeting, there will be a brainstorm regarding the exams of the 12th class. A decision will be taken on how exams will be conducted. Whether exams will be held or not during the Corona crisis.

Earlier, Education Minister Ramesh Pokhriyal Nishank was about to take a decision on the board exams today, but after a sudden deterioration, he has been admitted to AIIMS. The Education Ministry has to inform the Supreme Court about its decision regarding the examinations by June 03. On May 31, the Central Government had sought two days’ time from the Supreme Court to take a decision on the examinations. In such a situation, Prime Minister Narendra Modi himself will preside over this meeting.

PM Modi will meet this evening for board exams
Image Source- Google | Image By- Business Standard

PM Modi will meet this evening

In this meeting, Prime Minister Modi will discuss with the officials both the option of conducting the examinations and the option of canceling the examinations. The CBSE Board had suggested two options for conducting the examination in the meeting of Union Ministers held last week. The first option was to conduct the examination of all the subjects on the reduced exam pattern. And the second option was to conduct the examination of only the important subjects.

PM Modi will meet this evening for board exams
Image Source- Google | Image By- The Indian Express

In this meeting, Delhi Education Minister Manish Sisodia had the option of canceling the examinations. And passing the students on the basis of internal marking. He had said that if the third wave of corona comes, then it is the children who will be most affected. In such a situation, we will have to cancel the exams, keeping in mind the health of the children. He also said that all the students should be vaccinated before the exam.

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Get the work done soon, more TDS will be deducted from next month

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Get the work done soon, more TDS will be deducted from next month

You should get this one thing done as soon as possible. Otherwise, from next month there will be problems in banking services including debit-credit card payment, UPI payment and TDS will also have to be paid more.

Under Income Tax rules, it is mandatory for everyone to link their PAN card with Aadhaar. For this, the Income Tax Department has set a deadline of 30 June 2021. If you do not link your PAN card with Aadhaar by 30 June 2021, then your PAN card will become invalid under Rule 114 AAA(3) of Income Tax Rules, 1962. Due to this you will face many problems.

Get the work done soon, more TDS will be deducted from next month
Image source- Google| Image by- The Economic Times

If your PAN card given for TDS deduction under section 206AA(6) of the Income Tax Act 1961 is not valid or operative, then it is considered that the person has not submitted the PAN details with the TDS deductor and then in this situation The provisions of section 206AA(6) are applicable and in this case your TDS is deducted at 20%.

However, the 20% rate of TDS is applicable only on interest or dividend income on fixed deposits. Or for those things where the rule of TDS is applicable, where it is not so, then this rule will not be applicable.

Get the work done soon, more TDS will be deducted from next month
Image source- Google| Image by- TaxGuru

According to the Income Tax Act, it is the responsibility of the taxpayer to pay the tax. In such a situation, after linking Aadhaar and PAN, you will have to inform the bank, post office for interest income, companies for dividend, mutual fund companies etc. so that not much TDS is deducted.

It is mandatory to link PAN and Aadhaar. This will keep your banking transactions smooth. Not much TDS will be deducted, trading on demat account can also be done in normal way

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Gautam Adani no longer Asia’s second richest man

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Gautam Adani no longer Asia’s second richest man

Gautam Adani is not Asia’s second richest man anymore as his net worth saw 70 crore rupee fall in only three days. Now he holds the third spot.

According to the Bloomberg billionaire, after losing 4 billion dollars, Adani’s net worth has fallen to 67.4 billion dollars. Due to this, Chinese business man, Zhong Shanshan has taken the second spot and with 84.5 billion dollars’ net worth, Mukesh Ambani remains the Asia’s richest man.

Gautam Adani no longer Asia’s second richest man
Image Source- Google | Image By- Business Standard

Since Monday the price of Adani group’s shares has been crashing. The shares of Adani Ports have fallen down by 8.5% and the shares of Adani Transmission, Adani Power and Adani Total Gas has decreased by 5%.

Reportedly, NSDL has recently frozen the accounts of three foreign fund and these funds has invested 43,500 crores in Adani Group. Therefore, the company has been facing a downfall.

Gautam Adani no longer Asia’s second richest man
Image Source- Google | Image By- The Print

However, NSDL denied this news and even Adani Group called it baseless. After that some improvement has been seen the prices of the share but they haven’t been able to make full recovery.

On Friday, when the stock market closed, the net worth of Gautam Adani was about $77 billion according to the Bloomberg Billionaire and in only three days his net worth has fallen by 9.4 billion USD.

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Technical error in HDFC Bank App, bank advises users to use Netbanking

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Technical error in HDFC Bank App, bank advises users to use Netbanking

HDFC Bank faced a technical error on Tuesday due to which their app went down and a lot of users complained about it. The bank requested its customers to use Netbanking facility to get the work done until they fix the error. Later they tweeted and informed their users that the problem had been taken care of.

Technical error in HDFC Bank App, bank advises users to use Netbanking
Image Source- Google | Image By- Business Today

Their first tweet said, “We are experiencing some issues on the MobileBanking App. We are looking into this on priority and will update shortly. Customers are requested to please use NetBanking to complete their transaction. Regret the inconvenience caused. Thank you.”

An hour later the Bank informed by tweeting “Please note the issues around mobile banking app is now resolved. Customers can now use NetBanking and mobile banking app for transactions. We regret the inconvenience and thank you for your patience.”

Such technical errors have arisen before. In December, 2019 the mobile banking and net banking services of HDFC got shut. That time people faced many issued due to it.

Technical error in HDFC Bank App, bank advises users to use Netbanking
Image Source- Google | Image By- IBTimes India

Later, in December, 2020, under the Digital 2.0 program, RBI stopped all the serviced that were to be launched by HDFC Bank.

Even this year in March, the customers faced problems in the use of the net banking and mobile app of HDFC.

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Big blow to the crypto currency market! ED sent notice to WazirX

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Big blow to the crypto currency market! ED sent notice to WazirX

Crypto currency: The Enforcement Directorate has sent a show-cause notice to Mumbai-based WazirX, which provides platforms for dealing in crypto currency, and its directors Nischal Shetty and Sameer Hanuman Mhatre. This notice has been sent to them under FEMA.

Why did ED send notice

Big blow to the crypto currency market! ED sent notice to WazirX
Image Source- Google | Image By- Business News

The ED has sent WazirX and its directors under the Foreign Exchange Management Act (FEMA) for dealing in cryptocurrencies worth Rs 2,790.74 crore.

The ED says that WazirX accepted cryptocurrency worth Rs 880 crore from its Balance account in the pool account. At the same time, cryptocurrency worth Rs 1,400 crore was sent to the Binance account.

Violation of these provisions of FEMA

ED officials say that WazirX did not obtain the necessary documents for this transaction. This is in violation of FEMA’s mandatory anti-money laundering and combating the financing of terrorism.

Stairway to heaven for money laundering

Officials say that not a single transaction of WazirX is available on the blockchain where they can be audited. It has been found that WazirX can transfer highly valuable cryptocurrencies from anyone’s account to anyone’s account without documents. For this the nationality or location of that person does not matter. In this way, it can become a stairway to heaven for money launderers.

Nischal Shetty cleaning

A clarification has also been given by WazirX CEO Nischal Shetty regarding the ED notice. He says, “All users on the WazirX platform can be identified through official identity cards. Once we get official information or notice from ED, we will fully cooperate with them in the investigation.

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Mukesh Ambani did not take salary last year amid Corona crisis

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Mukesh Ambani did not take salary last year amid Corona crisis

In view of the magnitude of the covid-19 epidemic in the country, Reliance Industries (RIL) Chairman Mukesh Ambani did not take any salary during the financial year 2020-21. However, even in the year of Corona crisis, Mukesh Ambani’s own net worth has been increasing continuously. Significantly, for the last several years, Mukesh Ambani was taking a salary of Rs 15 crore annually.

What Mukesh Ambani said

Mukesh Ambani did not take salary last year amid Corona crisis
Image Source- Google | Image By- Business standard

Mukesh Ambani’s own net worth has increased by $ 8.2 billion in the last one week due to the rise in the price of Reliance’s shares. There has been no change in his salary for the last several years. The company has said in its annual report released on Wednesday that due to the Corona crisis. Mukesh Ambani did not take any salary. In a letter sent to the shareholders, Mukesh Ambani has said that the Covid epidemic has ruined the lives of many and has also affected the health of the country’s economy.

If we talk about other officers of the company, then Executive Director Nikhil R. Meswani has taken a total package of Rs 24 crore annually. The another director Hital R Meswani has also received a package of Rs 24 crore annually.

Mukesh Ambani did not take salary last year amid Corona crisis
Image Source- Google | Image By- The Economic Times

The company’s director PMS Prasad has received a salary of about Rs 12 crore annually. While Pawan Kumar Kapil has got a salary of Rs 4.24 crore. Both these directors have also received about Rs 17.28 crore as commission, which is a major part of their salary.

RIL’s annual report said, “The company’s salary policy is such that the achievements are reviewed and rewarded on the basis of performance.”

Money increased by more than 52 thousand crores in a week

Mukesh Ambani may not have taken any salary in the last financial year, but due to the boom in Reliance shares, his own net worth has increased continuously. He has risen to 1st place and up to 12th place in the ranking of the India’s and world’s richest people respectively. In the last one week alone, his wealth has increased by about $ 7.2 billion to $ 84.2 billion.

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Corona: More than 10 million people lost their jobs due to Corona

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Corona: More than 10 million people lost their jobs due to Corona

The coronavirus epidemic has broken the back of the economy. The latest figures show that due to the second wave of Corona, more than one crore people became unemployed in India. At the same time, since the beginning of the corona epidemic, the income of about 97 percent of the families has decreased.

These figures were released on Monday by Mahesh Vyas, chief executive of the Tur for Indian Economy (CMIE). Mahesh Vyas told news agency PTI that the unemployment rate could reach 12 percent in the month of May, which was 8 percent in April.

Corona: More than 10 million people lost their jobs due to Corona
Image Source- Google | Image By- The Economic Times

 During this, about one crore people became unemployed, the main reason for which is the second wave of corona. According to Mahesh Vyas, now that economic activities are opening, then only some problems will be reduced, not complete.

Recovery will happen gradually

Mahesh Vyas said that those who have lost their jobs are finding it difficult to get jobs again. Because the informal sector is recovering to some extent. But whether it is a formal sector, there is still time to return to that sector.

Corona: More than 10 million people lost their jobs due to Corona
Image Source- Google | Image By- Bookings Institution

Let us inform you that in May 2020, the unemployment rate had reached 23.5 percent, then the national lockdown was in place. But this year when the second wave of Corona came, gradually the states imposed restrictions on their level and the work again stopped.

According to Mahesh Vyas, if the unemployment rate remains up to 3-4 percent, then it will be considered normal for the Indian economy. A survey was conducted by CMIE in about 1.75 lakh families, in which information was taken about the income of the family. In the Corona period, the income of many families has become much less than before.

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SBI increased the cash withdrawal limit for non-home branch owners

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SBI increases the cash withdrawal limit for non-home branch owners

In view of the Covid pandemic, SBI increased the cash withdrawal limit from non-home branches. This withdrawal can be done by check or withdrawal form.

A home branch is where your account is opened, increasing the withdrawal limit from non-home branches means that you can now withdraw more money from any branch of the bank.

SBI increases the cash withdrawal limit for non-home branch owners
Image Source- Google | Image By- Business Today

Tweet about SBI increased the cash withdrawal limit 

State Bank of India has tweeted that if a person comes to a non-home branch with his savings passbook and has his own account. Then he can now withdraw Rs 25,000 in a day through withdrawal form. Earlier this limit was only 5,000 rupees. He can withdraw up to 1 lakh rupees in a day by depositing a check for ‘self. In the same way, a maximum of Rs 50,000 can be withdrawn in a day from a non-home branch by a third party i.e. check only by someone else.

Significantly, a home branch is one where a customer has a savings or salary account. Apart from the home branch, all other branches are considered non-home branches.

No one else can remove from withdrawal form

The bank has said that withdrawal from a non-home branch through withdrawal form is not allowed to any third party. That is, the person who has account in his name can withdraw money. This change has been done till 30 September 2021.

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India sent Mehul Choksi Deportation Documents to Dominica

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India sent Mehul Choksi Deportation Documents to Dominica

India has sent the documents required for the deportation of Mehul Choksi to Dominica. Mehul Choksi, who was involved in PNB loan scam. He was caught in Antigua from where he was going to flee to Cuba. Currently, he is in Caribbean.

My understanding is that the Indian government has sent some documentation from the courts in India to confirm that Mr Choksi is indeed a fugitive and my understanding is that the documentation will be utilised in the court hearing next Wednesday,” Mr Browne told the Antigua News Room.

India sent Mehul Choksi Deportation Documents to Dominica
Image Source- Google | Image By- DNA India

“The Indian government seems to be going all out to ensure that he is repatriated to India so that he can stand charges there,” he added.

Mr Browne said that they will not accept him because if he makes it back to Antigua. He will get to enjoy the legal and constitutional protections as he has citizenship.

India sent Mehul Choksi Deportation Documents to Dominica
Image Source- Google | Image By- The Economic Times

We respect the jurisdiction of the court over this matter. My request on behalf of the state, for Dominica to consider deporting Choksi directly to India, as a form of state cooperation to apprehend a fugitive, is perfectly acceptable,” he added.

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IPO Market: More than 60 IPOs will be launched in a year

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IPO Market: More than 60 IPOs will be launched in a year

IPO Market: The IPO market is going to be buzzing for the next one year. More than 60 small and medium enterprises are set to get an IPO. These companies are raising funds to expand their business.

These SMEs will list themselves on the SME platform of the Bombay Stock Exchange. This information has been provided by BSE. BSE’s SME Ajay Thakur said that these companies will be listed on the SME platform of the exchange.

IPO Market: More than 60 IPOs will be launched in a year
Image Source- Google | Image By- The Economic Times

Let us tell you last year,only 16 SMEs raised Rs 100 crore through an IPO. Ajay Thakur told PTI that during the Corona epidemic, the exchange has organized around 150 webinars to make SMEs aware of equity financing and listing.

Listing increases SME recognition

According to Ajay Thakur, after listing on the stock exchange, the identity of SMEs increases. The company gets its brand building help. Apart from this, the credit rating of the company improves, which gives the company an easy financial facility in future. The companies to be listed next are related to IT, auto components, pharma, infra and hospitality.

IPO Market: More than 60 IPOs will be launched in a year
Image Source- Google | Image By- Kiplinger

337 SMEs have been listed

He informed that 400 SMEs have submitted documents in BSE SMEs. Of these, 337 have already been listed. The remaining 63 SME units will be listed this year. He said that last year we had taken several steps, which led to one company being listed every month on our platform.

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GST Council meeting, these 4 things can be cheap

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GST Council meeting, these 4 things can be cheap

The important meeting of the GST Council is going to take place on May 28. This meeting is being held after about 7 months. In the meeting of the GST Council from the Central Government, tax exemption is being sought on all the equipment including the vaccine of covid-19. According to the information available, in the GST Council meeting, relief can be provided on some equipment related to treatment of covid-19, including Oxine. That is, the rates of GST can be reduced.

GST Council meeting, these 4 things can be cheap
Images Source- Google | Image By- Breaking news

In the GST Council meeting, the rates of GST on oxygen, oxygen constructor / generator, pulse oximeter and covid test kit are expected to be reduced from 12 per cent to 5 per cent. The reduced rates on these items will continue to be applicable till 31 July, while on the testing kit, it will be applicable till 31 August. However the GST Council will take a final decision on the recommendations of the fitment panel on 28 May.

Last week, the fitment committee discussed providing GST relief to covid-19 vaccines. The vaccine is already in the lowest slab of 5 percent. Business Today has come to know from the sources that the panel has followed the same line. Which Finance Minister Nirmala Sitharaman said earlier this month in response to West Bengal Chief Minister Mamata Banerjee’s letter. In the letter, tax exemption was sought on Covid vaccines.

Currently, 5% GST is levied on the vaccine. Some states have suggested keeping Corona’s vaccine completely free of tax or imposing a marginal tax of 0.1 per cent. Sources said that the vaccine is not completely tax free. 

GST Council meeting, these 4 things can be cheap
Image Source- Google | Image By- Business standard

Petrol and diesel can be discussed

Apart from this, there is news that petrol and diesel can be discussed in the meeting of the GST Council. The central government has said many times on different fronts that to bring the price of oil under control. It will have to be brought under the purview of GST. After knowing the views of the states about this, the Finance Minister can decide the roadmap ahead.

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