Citizens' Issues
CBI to set up cyber-crime investigation branch in Mumbai

For this, the Maharashtra government has been requested to notify the CBI for taking up investigation of offences under the Information Technology Act, 2000

 

The Central Bureau of Investigation is planning to set up a cyber-crime investigation branch here, its director Anil Sinha said here on Tuesday.
 
For this, the Maharashtra government has been requested to notify the CBI for taking up investigation of offences under the Information Technology Act, 2000, he said, while inaugurating the agency's new city headquarters at Bandra-Kurla Complex here.
 
Addressing the gathering, he said that though the CBI started as an anti-corruption agency, in the past few decades, its scope has increased to cover economic offences, serious frauds and sensational cases.
 
"CBI is now a federal investigative agency which can probe most of the offences which affect public life in general and which have a direct bearing on the quality of life of the common man," Sinha said.
 
In this context, he said that the number of cases handed over to CBI by the courts and various state governments has been mounting over the years.
 
Discussing graft, Sinha said corruption flourishes due to three factors - opportunities, social acceptance and freedom from risks.
 
"It is the duty of the Vigilance setup to reduce opportunities, it is the duty of the citizens to complain, inform and be intolerant of corruption, and is the duty of investigative agencies like CBI and state ACBs to effective detect and prosecute the guilty to instill fear in them,"he stressed.
 
Noting Mumbai is the country's financial capital with headquarters of all major public and private sector banks, financial institutions, major gateway for imports-exports which directly impinge on the Indian economy besides a very high density of key government departments like banks, railways, customs, central excise, oil companies, defence establishments and PSUs, he said these offer an umpteen number of interactions between the citizens, businessmen, professionals and middlemen on one side and government departments, banks and financial institutions on the other.
 
He urged all officers to work harder to provide better services and be responsive to public complaints and informants, make witnesses feels safe and secure.
 
Keshav Kumar, CBI joint director, Mumbai Zone, said the new building will house all CBI branches like Anti-Corruption Branch, Economic Offences Wing, Banking & Securities Fraud Cell, Special Task Force and Special Crime Branch.
 
The ground plus 13 storey green building also has two basement floors and other top-class modern amenities, constructed on a 1,500 sq. metres plot at a cost of Rs.103 crore, said Kumar.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

Sahara's Aamby Valley sealed for tax default

A team of officials swooped on the township situated on the outskirts of the famous Lonavala hill station to seal the property's main gates and its administrative sections

 

Sahara Group's flagship project, Aamby Valley Resort, has been sealed by the Maharashtra government for non-payment of non-agriculture taxes of around Rs.4.50 crore, an official said on Tuesday.
 
A team of officials swooped on the township situated on the outskirts of the famous Lonavala hill station to seal the property's main gates and its administrative sections.
 
However, the back entrance had been kept open for the resort staffers and residents to enter and exit for the time being, an official said.
 
The officials also served a notice to the resort authorities to clear the two-year old dues by March-end, failing which the government would initiate legal proceedings.
 
Aamby Valley, labelled a hill city paradise for the rich and famous, is spread across around 4,300 hectares of lush green hills with a large natural lake and three artificial lakes on the property in Pune district.
 
Constructed in 2003, Aamby Valley boasts of a private airstrip, an 18-hole golf course, premium chateaus, villas and bungalows, shopping plazas, boating and a good all-year round weather.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

COMMENTS

Meenal Mamdani

9 months ago

Last I remember reading,Amitabh Bachhan was deeply involved in this scam. What is the latest? Which political bigwig or celebrity will step up to protect Mr. Roy?

Jaitley to decide on taxing your provident fund

What has created confusion is over whether only the interest component will be taxed upon withdrawal or the whole corpus itself built after April 1 this year

 

Adding further confusion over tax treatment of provident fund contributions proposed in the Union Budget, the finance ministry on Tuesday said a final view was yet to be taken on the subject.
 
In a statement, the ministry said on members of the provident fund who invest their withdrawals in annuity funds, no tax will be levied. If not, 60 percent of the money withdrawn will be taxed. Thus far, it is clear.
 
But what has created confusion is over whether only the interest component will be taxed upon withdrawal or the whole corpus itself built after April 1 this year. Revenue Secretary Hasmukh Adhia had alluded that only interest will be taxed and not the corpus.
 
But a statement thereafter suggests no firm decision has been taken as yet.
 
"We have received representations today from various sections suggesting if the amount of 60 percent of corpus is not invested in annuity products, tax should be levied only on the accumulated returns of the corpus and not on the contributed amount," it said.
 
"We have also received representations asking for not having any monetary limit on employer contribution under EPF because such limit is not there in NPS. The Finance Minister would be considering these suggestions and taking a view on it in due course."
 
The salaried class was shocked by Monday's budget proposal presented by Finance Minister Arun Jaitley that seemed to suggest that 60 percent of withdrawals from the provident fund accounts will be taxed -- that, too, with retrospective effect.
 
Jaitley said 40 percent of the National Pension Scheme (NPS) corpus would be tax-exempt at the time of withdrawal to make it attractive for the savers. He said the annuity fund, which goes to legal heirs, also won't be taxable.
 
In case of superannuation funds and recognised provident funds, the same norm of 40 percent of corpus to be tax-free will apply in respect of corpus created out of the contributions made on or from April 1, the minister added.
 
He said the government was also proposing a monetary limit for the contributions of employer in recognised provident and superannuation fund at Rs.150,000 per annum for taking the tax benefit.
 
The service tax on single premium annuity policies had been reduced to 1.4% from 3.5% of the premium paid in certain cases.
 
Similarly, Jaitley also announced exemption of service tax for annuity services provided by NPS and services provided by Employees Provident Fund Organisation (EPFO).
 
The earlier clarification from Adhia seems to have come due to the uproar against the government's proposal. But the ministry statement has clearly said the matter was not closed as yet.
 
"The Finance Bill does not reflect Adhia's clarification. Perhaps the government may change the relevant provisions," Neha Malhotra, executive director of Nangia and Company, an international tax advisory and accounting firm, told IANS.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
 
 
 

User

COMMENTS

Anand Vaidya

9 months ago

Another stupid move.

This gov will not get any benefit from the taxation, maybe, possibly, non-BJP gov, will benefit in future. and BJP is taking flak for it NOW!!

BJP is on its way to scoring self-goals and lose 2019.

The FM/PM should have struck down this idea at the first mention

I wonder which monkey came up with this brilliant idea?

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)