Number of 'crorepatis' has risen by 60% in last four years: CBDT

Agencies
October 22, 2018

New Delhi, Oct 22: : The number of taxpayers earning above Rs 1 crore per annum has risen to over 1.40 lakh in the country in the last four years, depicting a growth of about 60 per cent, the Central Board of Direct Taxes (CBDT) said on Monday.

Releasing key statistics of income tax and direct taxes for a period of about four years, the policy-making body of the IT department said the number of individual taxpayers earning over Rs 1 crore annually had seen a growth of about 68 per cent.

"The total number of taxpayers (corporates, firms, Hindu undivided families among others) showing income of above Rs 1 crore has registered a sharp increase.

"While 88,649 taxpayers had disclosed income above Rs 1 crore in assessment year 2014-15, the figure was 1,40,139 for AY 2017-18, which is a growth of about 60 per cent," the CBDT said.

Similarly, it said, the number of individual taxpayers disclosing income above Rs 1 crore had increased during the same period from 48,416 to 81,344, which translated into a growth of 68 per cent.

CBDT chairman Sushil Chandra said these numbers were a result of putting in a number of legislative, informative and enforcement efforts by the tax department over the last four years.

The data also added that a growth of more than 80 per cent was registered in the number of returns filed in the last four financial years -- from 3.79 crore in 2013-14 to 6.85 crore in 2017-18.

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Well Wisher
 - 
Monday, 22 Oct 2018

Ha ha ha ha...

Achche din for Crorepatis & Burey din for Indians

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News Network
May 15,2020

New Delhi, May 15: With an increase of 3,967 COVID-19 cases in the last 24 hours, India's tally of coronavirus cases reached 81,970 cases, according to the Union Ministry of Health and Family Welfare on Friday.

According to the latest figures, 51,401 patients are active coronavirus cases while 27,919 patients have been cured/discharged and one patient has been migrated.

With a rise in 100 deaths due to COVID-19 in the last 24 hours, the number of deaths now stands at 2,649.

According to the Health Ministry, Maharashtra is the worst-hit state with regard to the number of COVID-19 cases with 27,524 cases of which, 6,059 patients have been cured/discharged and 1,019 succumbing to the virus.

Tamil Nadu has a tally of 9,674 cases inclusive of 2,240 patients cured/discharged and 66 fatalities.

Gujarat has a total of 9,591 cases which include 3,753 patients cured/discharged while 586 have lost their lives due to coronavirus.

Delhi has a tally of 8,470 cases of which 3,045 patients cured/discharged and 115 fatalities.

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News Network
March 4,2020

New Delhi, Mar 4: The Supreme Court on Wednesday revoked the ban of cryptocurrency imposed by the Reserve Bank of India (RBI) in 2018.

Pronouncing the verdict, the three-judge bench of the apex court said the ban was 'disproportionate'.

The bench included Justice Rohinton Fali Nariman, Justice S Ravindra Bhat and Justice V Ramasubramanian.

The Internet and Mobile Association of India (IAMAI), whose members include cryptocurrency exchanges, and others had approached the top court objecting to a 2018 RBI circular directing regulated entities to not deal with cryptocurrencies.

Advocate Ashim Sood, appearing for IAMI, submitted that Reserve Bank of India lacked jurisdiction to forbid dealings in cryptocurrencies. The blanket ban was based on an erroneous understanding that it was impossible to regulate cryptocurrencies, Sood submitted.

The petitioners had argued that the RBI's circular taking cryptocurrencies out of the banking channels would deplete the ability of law enforcement agencies to regulate illegal activities in the industry.

IAMAI had claimed the move of RBI had effectively banned legitimate business activity via the virtual currencies (VCs).

The RBI on April 6, 2018, had issued the circular that barred RBI-regulated entities from "providing any service in relation to virtual currencies, including those of transfer or receipt of money in accounts relating to the purchase or sale of virtual currencies".

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Agencies
January 11,2020

New Delhi, Jan 11: The Supreme Court is scheduled to hear the curative petition of two death row convicts in 2012 Nirbhaya gang-rape case on January 14.

A five-judge Bench of Justices N V Ramana, Arun Mishra, R F Nariman, R Banumathi and Ashok Bhushan will hear the petition filed by Vinay Sharma and Mukesh.

The duo had moved a curative petition in the top court after a Delhi court issued a death warrant in their name and announced January 22 as the date of their execution.

Besides them, two other convicts named Pawan and Akshay are also slated to be executed on the same day at 7 am in Delhi's Tihar Jail premises.

They were convicted and sentenced to death for raping a 23-year-old woman on a moving bus in the national capital on the night of December 16, 2012.

The victim, who was later given the name Nirbhaya, died at a hospital in Singapore where she had been airlifted for medical treatment.

A curative petition is the last judicial resort available for redressal of grievances. It is decided by the judges in-chamber.

If it is rejected, they are legally bound to move a mercy petition. It is filed before the President who has the power to commute it to life imprisonment.

The court after issuing a black warrant in their name gave them two weeks' time to file both the curative and mercy petition.

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