‘Non-Gandhi chief will cause Congress to split within 24 hours’: Natwar Singh

New Delhi, Jun 25: The Supreme Court on Thursday asked the Centre and the CBSE to issue fresh notification in connection with Class 12 exams, clarifying the option between internal assessment and exams later.

The observation from the top court after it was informed that the CBSE has decided to cancel the remaining board exams for Class 10 and Class 12.

A bench comprising Justices AM Khanwilkar, Dinesh Maheshwari and Sanjiv Khanna asked the Centre to clarify the issue of taking the option between internal assessment and exams later.

"Clarify the date of results," said the bench, noting that the CBSE will have to submit a fresh draft notification cancelling class 12 Board exams and affidavit on Friday morning, before the top court continues to hear the matter again at 10.30 a.m.

The apex court also sought clarity on the beginning of the new academic year.

It told Solicitor General Tushar Mehta, representing the Centre, that the CBSE is willing to conduct exams when the situation is conducive, but this may vary from state to state. "Will the decision be taken by a central authority or will the state government take the decision? How are you going to deal with that situation?"

Mehta replied that the decision must be taken according to the situation. To this, the bench said should not the solution be pan-India?

"You have not said when you will decide on this issue, and when you will take stock of these things. Some time frame will have to be given," noted the bench.

Continuing its queries, the bench said: "What about state regional board exams... the CBSE does not hold all the exams. The state Board is also there."

Mehta replied that the instructions from the controller of examinations are that exams are controlled centrally. "State boards assist the CBSE," he replied.

The bench observed that the government should modify the draft notification and include the state board issue. "Clear the stand that decision will be taken at the central level and not at the state level... other courses will have to be delayed till CBSE exam results come out," it said.

Mehta replied the assessment results will be published now, and if a student wants to opt to give the exam, then that will be conducted later. The top court asked Mehta to bring this on record and redraft the notification.

New Delhi, Mar 5: Retirement fund body EPFO on Thursday lowered interest rate on provident fund deposits to 8.5 per cent for the current financial year, said Labour Minister Santosh Gangwar on Thursday.

The EPFO had provided 8.65 per cent rate of interest on EPF for 2018-19 to its around six crore subscribers. The decision was taken at a meeting of the the Employees' Provident Fund Organisation's (EPFO) apex decision making body -- the Central Board of Trustee.

"The EPFO has decided to provide 8.5 per cent interest rate on EPF deposits for 2019-20 in the Central Board of Trustees (CBT) meeting today," Gangwar told reporters after the meeting here.

Now, the labour ministry requires the finance ministry's concurrence on the matter. Since the Government of India is the guarantor, the finance ministry has to vet the proposal for EPF interest rate to avoid any liability on account of shortfall in the EPFO income for a fiscal.

The finance ministry has been nudging the labour ministry for aligning the EPF interest rate with other small saving schemes run by the government like the public provident fund and post office saving schemes.

The EPFO had provided 8.65 per cent rate of interest to its subscribers for 2016-17 and 8.55 per cent in 2017-18. The rate of interest was slightly higher at 8.8 per cent in 2015-16.

It had given 8.75 per cent rate of interest in 2013-14 as well as 2014-15, higher than 8.5 per cent for 2012-13.

Those owning a single house in joint names would continue to file their income tax returns (ITRs) in much simpler ITR-1 (Sahaj) and ITR-4 forms (Sugam) for assessment year 2020-21 with the government issuing a clarification in this regard.

The clarification has come days after the government modified the eligibility for filing the returns in ITR-1 and ITR-4, stating that those owning a property jointly, spending Rs 2 lakh on foreign travel and paying electricity bill of Rs 1 lakh in a year would not be able to file returns in the simpler forms.

They would have to file their returns with much more detailed information in other specified forms.

Following the changes in the eligibility for filing returns in the two forms, concerns were raised over it with taxpayers claiming that it will cause huge hardship for them.

"The matter has been examined and it has been decided to allow a person, who jointly owns a single house property, to file his/her return of income in ITR-1 or ITR-4 Form, as may be applicable, if he/she meets the other conditions," a Finance Ministry statement said.

"It has also been decided to allow a person, who is required to file return due to fulfilment of one or more conditions specified in the seventh proviso to section 139(1) of the Act, to file his/her return in ITR-1 Form," it added.

Tax practitioners welcomed the government’s move of going back to the previous position.

"This is a welcome clarification allowing middle class taxpayers owning a single house property to file simpler ITR forms, 1 and 4, and not the detailed ITR forms even if they own house property in joint names," said Shailesh Kumar, Director, Nangia Andersen Consulting.

It may be noted that taxpayers holding multiple house properties would have to file more detailed return forms.

In the major changes notified earlier this month by the Income-Tax department, individual taxpayers were disallowed to file return either in ITR-1 or ITR 4 if he or she was a joint-owner in house property.

In another change, those who deposited more than Rs 1 crore in bank account or spent Rs 2 lakh on foreign travel or paid Rs 1 lakh on electricity bill in a financial year were also barred from using the easy-to-fill return forms.

"By today's clarification, the government has maintained status quo. Now, the taxpayers can continue filing their returns in the same fashion in which they did last year," said Naveen Wadhwa, Deputy General Manager (DGM), Taxmann.