Privatising BPCL: Modi government seeks global bidders with $10 billion net worth

New Delhi, Jul 13: The Income Tax Department has facilitated a new functionality for banks and post offices to ascertain TDS applicability rates on cash withdrawal of above Rs 20 lakh in case of a non-filer of the income-tax return and that of above Rs 1 crore in case of a filer of the income-tax return.

In a statement, the Central Board of Direct Taxes (CBDT) said that now banks and post offices have to only enter the PAN of the person who is withdrawing cash for ascertaining the applicable rate of TDS.

So far, more than 53,000 verification requests have been executed successfully on this facility, a statement by the CBDT said.

"CBDT today said that this functionality available as 'Verification of applicability u/s 194N' on www.incometaxindiaefiling.gov.in since 1st July 2020, is also made available to the Banks through web-services so that the entire process can be automated and be linked to the Bank's internal core banking solution," it said.

On entering PAN by the bank or the post office, a message will be instantly displayed on the departmental utility: "TDS is deductible at the rate of 2 per cent if cash withdrawal exceeds Rs 1 crore", in case the person withdrawing cash is a filer of the income-tax return.

In case the person withdrawing cash is a non-filer of income tax return, the message shown would be: "TDS is deductible at the rate of 2 per cent if cash withdrawal exceeds Rs 20 lakh and at the rate of 5 per cent if it exceeds Rs 1 crore."

The CBDT said that the data on cash withdrawal indicated that huge amount of cash is withdrawn by the persons who have never filed income-tax returns.

To ensure filing of return by these persons and to keep track on cash withdrawals by the non-filers, and to curb black money, the Finance Act, 2020 with effect from July 1, 2020 further amended IT Act to lower threshold of cash withdrawal to Rs 20 lakh for the applicability of this TDS for the non-filers and also mandated TDS at the higher rate of 5 per cent on cash withdrawal exceeding Rs 1 crore by the non-filers.

Unnao, Feb 26: Ever heard of someone wishing a 'bright future' for the dead? In a bizarre incident in Uttar Pradesh's Unnao district, a village head issued a death certificate with the wish for an elderly man who had died last month.

The incident took place in the Sirwariya village in Asoha block where an elderly person Laxmi Shankar died after a prolonged illness on January 22.

His son went to the village head Babulal and requested him to issue a death certificate that he needed for some financial transactions.

Babulal not only issued the death certificate, but also 'wished' 'a bright future for the deceased' on the document.

The village head wrote in the death certificate -- "Main inke ujjwal bhavishya ki kaamna karta hoon (I wish him a bright future)."

The letter went viral on the social media on Monday after which the village head apologised for the error and issued a new death certificate.

Cape Canaveral, May 31: SpaceX, the private rocket company of billionaire entrepreneur Elon Musk, launched two Americans into orbit from Florida on Saturday in a landmark mission marking the first spaceflight of NASA astronauts from U.S. soil in nine years.

A SpaceX Falcon 9 rocket lifted off from the Kennedy Space Center at 3:22 p.m. EDT (19:22 GMT), launching Doug Hurley and Bob Behnken on a 19-hour ride aboard the company’s newly designed Crew Dragon capsule bound for the International Space Station.

Just before liftoff, Hurley said, “SpaceX, we’re go for launch. Let’s light this candle,” paraphrasing the famous comment uttered on the launch pad in 1961 by Alan Shepard, the first American flown into space.

Minutes after launch, the first-stage booster rocket of the Falcon 9 separated from the upper second-stage rocket and flew itself back to Earth to descend safely onto a landing platform floating in the Atlantic.

High above the Earth, the Crew Dragon jettisoned moments later from the second-stage rocket, sending the capsule on its way to the space station.

The exhilarating spectacle of the rocket soaring flawlessly into the heavens came as a welcome triumph for a nation gripped by racially-charged civil unrest as well as ongoing fear and economic upheaval from the coronavirus pandemic.

The Falcon 9 took off from the same launch pad used by NASA’s final space shuttle flight, piloted by Hurley, in 2011. Since then, NASA astronauts have had to hitch rides into orbit aboard Russia’s Soyuz spacecraft.

“It’s incredible, the power, the technology,” said U.S. President Donald Trump, who was at Kennedy Space Center at Cape Canaveral in Florida for the launch. “That was a beautiful sight to see.”

The mission’s first launch attempt on Wednesday was called off with less than 17 minutes remaining on the countdown clock. Weather again threatened Saturday’s launch, but cleared in time to proceed with the mission.

SPACEFLIGHT MILESTONES

NASA chief Jim Bridenstine has said resuming launches of American astronauts on American-made rockets from U.S. soil is the space agency’s top priority.

“I’m breathing a sigh of relief, but I will also tell you I’m not gonna celebrate until Bob and Doug are home safely.” Bridenstine said.

For Musk, the launch represents another milestone for the reusable rockets his company pioneered to make spaceflight less costly and more frequent. And it marks the first time commercially developed space vehicles - owned and operated by a private entity rather than NASA - have carried Americans into orbit.

The last time NASA launched astronauts into space aboard a brand new vehicle was 40 years ago at the start of the space shuttle program.

Musk, the South African-born high-tech entrepreneur who made his fortune in Silicon Valley, is also chief executive of electric carmaker and battery manufacturer Tesla Inc. He founded Hawthorne, California-based SpaceX, formally known as Space Exploration Technologies, in 2002.

Hurley, 53, and Behnken, 49, NASA employees under contract to fly with SpaceX, are expected to remain at the space station for several weeks, assisting a short-handed crew aboard the orbital laboratory.

Boeing Co, producing its own launch system in competition with SpaceX, is expected to fly its CST-100 Starliner vehicle with astronauts aboard for the first time next year. NASA has awarded nearly $8 billion combined to SpaceX and Boeing for development of their rival rockets.

Trump also hailed the launch as a major advance toward the goal of eventually sending humans to Mars.

He was joined at the viewing by Musk, as well as Vice President Mike Pence, Commerce Secretary Wilbur Ross, Education Secretary Betsy DeVos, Florida congressman Matt Gaetz and Senator Rick Scott.

Earlier on Saturday, the crew bid goodbye to their families. Prior to climbing into a specially designed Tesla automobile for the ride to the launch site, Behnken told his young son, “Be good for mom. Make her life easy.”

During the drive, Behnken and Hurley passed former astronaut Garrett Reisman who held a sign saying, “Take me with you.”