Author Archives: gstprofits

Indian Top 10 Richest By Reaching With a Net Worth of $800 Billion | Check List

Category:Uncategorized

Gautam Adani became the second richest person in the world this year with a net worth of $150 billion.

His Highness increased the total wealth of the top 100 richest people in India by $25 billion to $800 billion. The stock market is still up, albeit down slightly from a year ago, according to Forbes. Adani topped the list, followed by Mukesh Ambani in second. Who’s in the top 10

Gautam Adani: The rise is largely due to the record-breaking feat of infrastructure tycoon Gautam Adani, who changed the list. It topped the list for the first time since 2008. According to the report, he will triple his wealth by 2021 and double this year to $150 billion, a key contribution to his entry into the 100 richest list. He became the new first man and at one point the second richest man on the planet.

Mukesh Ambani: Chairman of Reliance Industries, Mukesh Ambani comes in second on the list with a net worth of $88 billion. However, his wealth has decreased by 5% compared to last year. Adani and Ambani now jointly control 30% of the wealth of India’s 100 richest people.

Radhakishan Damani: Radhakishan Damani, owner of the DMart supermarket chain, entered the top three for the first time despite a 6% drop in his net worth to $27.6 billion.

Cyrus Poonawalla: Cyrus Poonawalla, chairman of the Serum Institute of India, the world’s largest vaccine maker, is fourth with a net worth of $21.5 billion.

Shiv Nadar: Honorary chairman of HCL Technologies ranks fifth on the list with a net worth of $21.4 billion.

Savitri Jindal: Jindal Group, whose businesses include steel, power, cement and infrastructure, is led by Savitri Jindal, widow of founder Om Prakash Jindal. He is ranked No. 6 on the Forbes Top 10 list. His net worth is $16.4 billion. Dilip Shanghvi: He is the founder of Sun Pharmaceuticals, which manufactures psychotropic drugs in 1983. His net worth is $15.5 billion.

Hinduja Brothers: Hinduja Group was founded in 1914 by Parmanand Deepchand Hinduja. Currently, it is controlled by four siblings, Srichand, Gopichand, Prakash and Ashok, who have a net worth of $15.2 billion.

Kumar Birla: Chairman of textile cement conglomerate Aditya Birla Group has a net worth of US$15 billion.

Bajaj family: The 96-year-old Bajaj Group, known for motorcycle maker Bajaj Auto and financial services arm Bajaj Finserv, is controlled by the Bajaj family. The total assets of the Bajaj family are $14.6 billion.

How to link PAN To Aadhar Card ? It Will Inactive If Not Linked! Penalty And Other Details Here

Category:Uncategorized

A new rule introduced by the Central Direct Tax Board (CBDT) states that if the cardholder’s Permanent Account Number (PAN) is not associated with the Aadhaar card by the deadline (i.e. March 2020), it will be invalid after March 2023. will be 2023.

This deadline has already been extended and will not be extended further by the Income Tax Department. Failure to link the PAN card to the Aadhaar card by the deadline will result in a fine of Rs 1,000. In such cases, if the cardholder does not link it, he can use his PAN card until it expires. It was also announced by the official Twitter handle of Income Tax India on 18 November 2022. The tweet said, “According to the Income Tax Act, 1961, the last date to associate PAN with Aadhaar is March 31, 2023 for all PAN holders who do not fall under the exempt category.

To avoid delays and confusion, it is important to note a few minor points about how the process of linking PAN and Aadhaar works.

The PAN name, date of birth and gender are verified against the Aadhaar details in the UIDAI (Aadhaar) database.
Check date of birth on pan card and aadhar card also.
As per their UIDAI circular File No. K-11022/631/2017-UIDAI (Authentication-II) dated 27th November 2017, partial matching is not permitted. So please consider entering your data as per PAN and Aadhaar card.
Once the match is done, the system will send its OTP to the mobile number linked with Aadhaar.
After the OTP step is successful, Aadhaar and PAN are linked.

Make sure that the ‘Aadhaar Number’ and ‘Name per Aadhaar’ are exactly the same as printed on the original Aadhaar card.
If there are discrepancies between PAN data and Aadhaar data, it is recommended to rectify the same before linking them. Please also note that the data correction process for Aadhaar and PAN card may take several weeks. We recommend doing this as early as possible to avoid delays in filing your Income Tax Return.
our comments
We found that taxpayers with long names were truncated in non-standard format while issuing PAN, but not in the case of Aadhaar issue. So please link Aadhaar with PAN so that the linking can be successful. It is very important to link PAN before application. Your tax

How to link PAN and Aadhaar
There are three ways to link your PAN number with your Aadhaar number. The SMS method is easier, but sometimes there are problems with registering a request. That’s why I recommend the easy method #1 without logging into the portal.

1. Link PAN and Aadhaar without logging into Income Tax Portal

Please enter your PAN number
Please enter your Aadhaar number
Enter name as per Aadhaar card
Check whether Aadhaar card shows date of birth only and not date of birth.
Check “I agree to verify Aadhaar details with UIDAI”
Enter the captcha as per the image. If you do not know the letters, click the Refresh button next to the field to get a new captcha.

To link, press the “Link Aadhaar” button.

That’s all! Once you have successfully linked your Aadhaar with your PAN number, you are ready to file your taxes electronically.

link aadhaar with pan card

2. Login to ITD Portal

You can also link your PAN card with your Aadhaar card by logging in to the ITD portal. There is no major change between Method #1 above and this one, but the PAN number is automatically populated from your profile.

Visit ITD Electronic Filing Portal
Click on the “Login here” button in the top right
login to the portal
Go to the Profile Settings menu and click on the Link Aadhaar option. (view image)
Please enter your Aadhaar number
Enter name as per Aadhaar card
To link, press the “Link Aadhaar” button.

That’s all! Once you have successfully linked your Aadhaar with your PAN number, you are ready to file your taxes electronically.

Link Aadhaar with PAN Card after login

3. By sending SMS to NSDL
Another easy way to link your PAN card with your Aadhaar card is through the SMS method. This method works only if the name and date of birth are same in both PAN and Aadhaar.

Send SMS string in specific format to 567678 or 56161
The format of the string is:
UIDPN <space> <12 digit Aadhaar number> <space> <10 digit PAN number>
Example: SMS UIDPAN 123456789012 AAAPA1234A to 567678

123456789012 is the Aadhaar number, AAAPA1234A is the PAN number and 567678 is the location to send the SMS.

A confirmation message will appear whether you are connected or not.
That’s all! To link Aadhaar with PAN number using SMS method. If successful, you are ready to file your taxes electronically.

important
Note the space between “UIDPAN”, “Aadhaar Number” and “PAN Number”.
Requests should be sent from the mobile number linked to your Aadhaar number

MGNREGA Online Complaint Process

Category:Uncategorized

Everything You Need to Know About the MGNREGA Online Grievance Process

Everything You Need to Know About Online Complaint Procedures Related to MGNREGA

MNREGA-Related Online Complaints

In a country like India, the MNREGA scheme is like a boon to the poor. Help rural people fight unemployment. It aims to serve approximately 52 million people and provide a livelihood for their families. Read this blog to learn more about MGNREGA and how the online grievance process related to MGNREGA works.

Introduction of MNREGA

MGNREGA stands for Mahatma Gandhi National Rural Employment Guarantee Act, 2005. Formerly known as NREGA. The Ministry of Rural Development (MoRD) administers this program. The purpose of this scheme is to improve livelihoods in rural areas. The scheme guarantees a minimum of 100 days of wage employment per year.

 

History: Who started MNREGA?

The NREGA Act was passed on August 23, 2005 under his UPA government. The face of the government was Prime Minister Manmohan Singh. It came into effect in 2006.

In 1991, this law was first introduced by his P.V. Narasimha Rao government as a pilot project. This evolved into his MGNREGA in the early 2000s.

In 2009, the law was amended to change the nomenclature. NREGA became MNREGA.

The legislation’s primary objectives are to improve food security, build infrastructure, and find employment for agricultural workers during the off-season.

 

Some of the purposes of MGNREGA are:

This aims to secure a rural livelihood by providing him with 100 days of wage employment in the fiscal year.

It has enhanced livelihoods and provided resources to the poor.

Her third of employment is guaranteed to women.

She created productive assets such as roads, ponds, canals and wells.

MNREGA Achievements

It is the largest social welfare system in the world. In his first ten years of this scheme he spent Rs 3.14 crore.

According to the MoRD report, MGNREGA is committed to revitalizing the local ecosystem. This has many implications for local employment. For example, her MNREGA in Karnataka benefited 56.87 million people by providing jobs in 2020-2021.

The central government has spent his 5 billion rupees on her MNREGA scheme over the past eight years.

It helped rural women earn a living. It also helped me get social security.

It has improved the lives of Scheduled Tribes (ST) and Scheduled Castes (SC). It has also reduced poverty levels.

We support job changes from salaried workers to full-time employees.

In India, where malnutrition is a major health problem, some states spend half of her MGNREGA income on food and nutrition.

 

The main principles of MGNREGA are:

This guarantees a minimum of 100 days of wage employment in the fiscal year.

33% of bookings are for women.

MNREGA job card

The MNREGA scheme provides employment to the poor and employment cards are in place to record this. This card will be issued to every family whose member has requested work under her MNREGA. Each cardholder is entitled to 100 days of unskilled labor.

 

Benefits of the MNREGA Job Card

You can find more information about jobs in the MNREGA scheme.

She offers 100 days of employment to minors with no source of income.

Helps track benefits given by the government.

Role of Gram Panchayat in MNREGA

Prepare an annual report for the scheme.

Receive and review job applications.

Gram Panchayat registers all families.

Work will be assigned within 15 days of submission of the application.

MGNREGA job card credit.

The agency holds a hiring day in all wards once a month.

Role of gram mackerel in MNREGA

Monitor performance with the help of Gram Panchayat.

List tasks according to priority.

Resolve all queries for workers related to MNREGA.

Role of State Governments in MNREGA

State governments make up the State Job Guarantee Council.

Provides a framework for state regulation under the MGNREGA Act.

Established the State Employment Guarantee Fund (SEGF).

This will ensure that her POs and staff at State, District and Glampanchayat levels are dedicated to implementing the plan.

Register your MNREGA complaint online

If you apply for the system and don’t get a job, you can complain. Also, this situation is if you do not receive a salary. Online complaints are useful in the current scenario. Complaints can be drafted at your convenience. From registering complaints to checking the status of complaints, it is possible with just one click. No need to rush.

 

Why do people choose to file complaints online?

Today, people are choosing to register their complaints digitally. The internet has given them a voice to complain about. Earlier people complained about physical concerns. After many attempts he could not find a solution. However, this does not apply to online complaints.

 

Who can file a complaint about his MGNREGA?

Anyone who has been challenged by MNREGA authorities may file a complaint. Complaints can be submitted in person or through their representatives.

 

How do I file a complaint with MGNREGA?

In the Complainant Details and Location section, enter the following:

 

I will write about the identity of the petitioner.

From the dropdown box, select the source of the complaint as follows:

emails, newsletters, etc.

Select province, district, block, panchayat.

After this, enter the complainant’s name, father’s or husband’s name, address, and email ID.

Enter your phone or mobile number in the dialog box.

In the next Complaint Description and Location section, enter the following:

 

Select the entity you are complaining about, such as a district

Panchayat, Gram Panchayat, etc.

Select a state.

Select a district.

MNREGA Complaint

After this, another complaint category will appear. Select the reason for your complaint from these drop-down boxes. Please include the date of the complaint and the date of the incident.

 

Finally, under the “Evidence submitted by the complainant to prove the complaint” section, you must share the name of the witness and other details and documentary details. Once you have filled out all the sections carefully, click Save Complaint.

Evidence submitted by the complainant

When should she file an MNREGA complaint?

You should file a complaint if:

 

The scheme provides equal working opportunities regardless of gender or caste. If you face discrimination based on caste or gender, you can file a complaint.

Everyone should have access to clean water. MGNREGA is responding to this need by rebuilding ponds and wells. According to reports, 600,000 of her children under the age of five die each year due to inadequate water supplies and poor sanitation. If you have trouble getting clean water, you can complain.

MGNREGA focuses on wastewater programs. In Tamil Nadu, efforts were made to remove bushes and grasses from waterways and improve drainage.

Similarly, MNREGA has many problems. These are:

job card

payment

measurement

looking for a job

distribution of work

task management

unemployment benefits

How to check MNREGA complaint status

After registering a complaint, you may want to know its status. You can check the status by clicking on the official site. Enter your Complaint ID here to continue.

While registering online complaints related to MGNREGA, you may come across the word Lokpal somewhere. representative group. It deals with complaints from the public against governments or organizations such as banks and insurance companies.

The MGNREGA Ombudsman was created under Section 27 of the MGNREGA Act. Its main purpose is to establish a system that can represent the public.

Union Rural Development and Panchayati Raj Minister Giriraj Singh has launched his Lokpal app to facilitate grievances. This app helps governments maintain transparency.

 

Some frequently asked questions

MNREGA is he BPL only?

No, MGNREGA is not just for BPL. Now, this scheme is for everyone in rural India.A person’s age must be 18 years old.

 

Is MGNREGA a Central Support Scheme or a Central Sector Scheme?

Central Sponsor Scheme and Central Sector Scheme are different terms. Such schemes implemented by state governments and sponsored by the central government are called centrally sponsored schemes. However, the central government implements and funds the central sector scheme. MGNREGA is a centrally sponsored scheme.

October GST collections cross Rs 1.51 lakh crore, second highest on record

Category:Uncategorized

October revenue is the second highest monthly collection after April 2022

The government collected Rs 1.52 lakh crore in Goods and Services Tax (GST) in October. It was up 16.6% year-on-year due to festival-related spending, higher tax rates and better compliance. This was the second highest monthly collection since the indirect tax regime came into force in July 2017. GST collection in April reached a record level of Rs 1.67 lakh crore.

Of the total GST total expenditure in October, Central GST (CGST) was Rs 26,039 million, State GST (SGST) Rs 33,396 million, Integrated GST (IGST) Rs 81,778 million (collected on import of goods). Seth’s cost was Rs.10,505. (including Rs 825 crore collected on import of goods), according to preliminary data released by the Finance Ministry on Tuesday.

“This is the ninth and eighth consecutive month when monthly GST receipts have crossed Rs 1.4 lakh crore,” the ministry said.

In September 2022, 83 million e-way invoices were generated, as against 77 million in the previous month.

Economists expect CGST collections to exceed the FY23 budget estimates of Rs 1.3-1.4 trillion.

“The sharp rise in October GST collection headlines reflects a combination of quarter-end inflows related to deals from the previous month and an increase in GST e-way invoices ahead of a strong festive season. With the festive season in October, GST e-way ICRA Chief Economist Aditi Nayar said the way bill generation is expected to remain high, it should strengthen collections in November.

Nair said the year-on-year growth in GST collections is expected to come down in October given the normalization base and this may continue in the coming months as well. “CGST collections are expected to exceed BE 1.3-1.4 trillion in 2023,” he added.

The CGST target has been set at Rs 6.6 trillion, excluding compensation tax, in the 2022 budget.

Further, the total revenue of the Center and the State for October was Rs 74,665 for CGST and Rs 77,279 for SGST after regular and provisional settlement.

October GST collections exceed INR 1,510 crore, the second highest on record, with major states reporting an increase in collections, indicating it is a widespread phenomenon across the country. The collection by the state saw an increase of 18% as compared to the same period last year.
Saurabh Agarwal, Tax Partner, EY India, said:

Agarwal said, “Both the revenue departments (CBDT and CBIC) are responsible for increasing the tax collection, so we can expect good collections in the coming months. It seems that it is on the way to become a self-sufficient economy.”

Center released Rs 17,000 crore GST compensation to states, says finance ministry

Category:Uncategorized

The Union government has released Rs 1.7 crore to states to balance GST compensation, the Finance Ministry said on Friday, taking the total amount released so far this year to over Rs 1.15 crore.

“With this announcement, the Center has pre-announced the entire amount of cess, which is expected to be collected by the end of March this year, and made it available for payment of compensation to the states,” the ministry said in a statement. Has gone.” Farm.

The Goods and Services Tax (GST) was introduced from 1 July 2017, and the state is guaranteed compensation for loss of income due to the implementation of GST for a period of 5 years.

To provide compensation to the state, sales tax is levied on certain items and the amount of sales tax collected is deposited in the compensation fund.

The Central Government has released Rs 170 crore to the State/UT on 24 November 2022 for the balance GST compensation for the period April to June 2022. The amount for 2022-2023 is Rs 115,662 billion, the statement said.

“This is despite the fact that the total cess collection till October 2022 is only 72,147 kroner, with the remaining 43,515 kroner being released by the Center from its own resources,” the ministry said.

He said the decision was taken to enable the state to manage its resources and ensure that programmes, especially capital expenditure, were successfully implemented during the financial year.

(Only the headline and photos in this report may have been modified by Business Standard staff. The rest of the content is automatically generated from syndicated feeds.)

GST discussions on online games, casinos and racing issues

Category:Uncategorized

Goods and Services Tax (GST) regime for casinos, racetracks and online games has broken the previous rule that all three categories, with or without games, will be taxed at a flat rate of 28%. Positions may be repeated. skills or opportunities.

However, GoM members disagree on whether to collect platform fees or the full amount paid by participants, so the final decision on the evaluation mechanism will be made by his GST Council.

The panel will meet on Tuesday (22nd November) and is likely to return to his first report to the GST Council in June. This marks an increase in tax rates for online games, as the online gaming platform currently only pays his 18% GST on platform fees instead of the full amount including winnings.

The online gaming industry has grown exponentially during the COVID-19 pandemic. According to a recent study by EY and Assocham, online gaming now contributes to his GST of over Rs 220 crore. According to a KPMG report, the online gaming industry is projected to grow from 136 billion rupees in 2020-21 to 290 billion rupees in 2024-25.

What did GoM discuss?

Most GoM states are known to support a tax rate of 28%, but have different evaluation mechanisms. West Bengal and Uttar Pradesh are in favor of a net worth tax, while Goa is proposing a tax at the entrance to casinos.

Comments from all countries will be incorporated into the final report to be submitted to the next Board meeting. The GST Council has not met him since June. State Finance Ministers are scheduled to meet with Federal Finance Minister Nirmala Sitharaman on Friday for pre-budget discussions that may include GST-related issues.

What did GoM say before?

His eight-member ministerial committee, headed by Meghalaya Chief Minister Konrad Samma, had submitted a report to the council that was discussed at its meeting in June. GoM proposes a flat tax rate of 28% for casinos, racetracks and online games. However, it does not distinguish whether the activity is a game of skill, a game of chance, or both.

At two meetings in May this year, the government “broadly agreed that these activities should be taxed because of their nature and negative externalities” and carry “economic risks and addiction”. I agreed.

GoM was granted a 15-day extension after the 47th GST Commission meeting in June, mainly after concerns about casinos were raised by one state – Goa.

GOM observed that while casinos pay his GST of 28% on betting and gambling in full, the online gaming industry does not consider online games to be subject to litigation other than betting and gambling. Therefore, GoM believes that taxation should be uniform.

The discussion then focused on evaluation. These activities are to suggest whether a game’s gross earnings or net worth should be taxed, and the mechanisms for calculating GGR or net worth.

What are the evaluation hotspots?

Regarding the casino’s valuation, GoM suggested that he would impose a 28% excise tax on the total denomination of chips/coins that players purchased from the casino, and that he would impose a one-time goods tax on chip/coin purchases. impose a tax. value), GST is no longer taxed on the amount of bets made per round. This includes bets made using winnings from previous rounds.

Also, on entry services to the casino he imposes his GST of 28% and proposes to calculate/pay an entry fee which includes the price of one or more items, mainly food, beverages etc. I’m here.

For horse racing and gambling, the GoM has concluded that 28% GST will be charged on the face value of the wager.