Top stories on 19 December in a capsule
INDIA
Full I-T e-assessment from next year; CBDT forms committee
The government is set to roll out an all India ‘faceless and nameless’ e-assessment procedure for Income Tax payers from 2018 with the
CBDT constituting a high-level committee to prepare a quick roadmap for the
implementation of this proposal. The Central Board of Direct Taxes (CBDT), the
policy- making body for the Income Tax Department, notified a nine- member
committee--headed by a Principal Chief Commissioner rank officer -- and has set
for it a deadline of February 28, 2018, for submitting its report. "The
deadline of February end to the committee is an indication that the government
and the CBDT want to usher in this new regime from the first half of the new
year," a senior tax officer privy to the development said.
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Parliament passes companies amendment and IIM bill
The Rajya Sabha on Tuesday passed the companies amendment bill to strengthen corporate governance and initiate strict action against defaulting companies. It was adopted by the Lok Sabha in July this year during the Monsoon Session. The Companies Act, 2013 has already been amended once under the present government.
The Rajya Sabha today passed a bill, extending greater autonomy to the Indian Institutes of Management (IIMs) by restricting the government's role in their functioning and granting them power to award degrees to their graduates. The Indian Institutes of Management Bill, 2017 -- which was passed in the Lok Sabha in July this year -- grants statutory powers to the IIMs in their running including the appointment of directors and faculty members.
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PM Modi holds review meeting for Cyclone Ockhi hit areas
The Prime Minister on Tuesday visited Lakshadweeep Islands and held a review meeting on the situation post Cyclone Ockhi. Meeting several officials of the state and the central government involved in rescue and relief work, the Prime Minister also took stock of the records of missing people in Tamil Nadu and Kerala. Taking to Twitter, PM tweeted “the Centre has been monitoring the situation round the clock and ensuring proper rescue and relief operations. We have been working closely with the Governments of the affected states.” He also met with the family of the victim and expressed his regret. Earlier, Congress President Rahul Gandhi had said that he had written to the PM to sanction a special budget for the cyclone affected regions.
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We have delivered a 'massive jolt' to BJP: Rahul Gandhi
Congress President Rahul Gandhi on Tuesday said that the result of the recent Assembly elections has given a “massive jolt to the BJP and their propaganda has failed.” Interacting first time since the defeat of his party in the Gujarat and Himachal Pradesh polls, Rahul said, “Gujarat was a learning experience. I learnt that no matter how much hatred people have against you, you must fight it out with love.” The Congress had secured 77 seats in the 182 assembly constituencies, in its closest fight to BJP, who secured 99 seats, its lowest in 22 years.
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Delhi Metro rams into wall in trial run
A Delhi metro train crashed into a wall on Tuesday at Kalindi Kunj depot when it rolled back on a ramp while being taken for washing, six days before its commissioning with the scheduled launch of the magenta line by Prime Minister Narendra Modi. There were no casualties, according to the Delhi Metro Rail Corporation (DMRC) which blamed the incident on “human error and negligence” during maintenance and asserted it will have no bearing on the 25 December launch.
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WORLD
US passenger train derails, kills 6
Six people were killed and several were injured after a passenger train, on its inaugural run, derailed in Washington, USA. The Amtrak train that was travelling from Seattle to Portland, derailed and fell down from an overpass bridge, crashing cars in one of the busiest highways of the area. 77 people were admitted in hospital, with the death toll expected to rise as they were severely injured. Amtrak President Richard Anderson admitted, “the accident could have been avoided through track technology, however it was not online at that time.” US President Donald Trump expressed his grievance for the victims and stressed for better infrastructure plan.
Trump releases US security strategy, mentions role for India
US President Donald Trump unveiled the first draft of his government’s security strategy, that stressed on the ‘American first’ policy, which the leader had promised of during his Presidential campaign. Releasing the document, the President stressed on the role of India saying, "We will deepen our strategic partnership and support (India's) leadership role in Indian Ocean security and throughout the broader region." The national security strategy is a document that lays down the framework for the the American lawmakers’ approach to the threats facing the nation. Trump has called the plan an action against "an extraordinarily dangerous world, filled with a wide range of threats".
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BUSINESS
Ola acquires FoodPanda, to further invest $200 million
Cab aggregator app Ola on Tuesday said that it will acquire
FoodPanda’s India business from Germany- based Hero group. The SoftBank-backed
company has also committed investments of $200 million in the Foodpanda India
business, which is the largest such funds infusion in an Indian online food
ordering and delivery company till now. Under the deal, Foodpanda’s India
business will be transferred to Ola in exchange of the latter’s stock, the
company said in a statement.
Government working to bring petrol under GST: Jaitley
Finance Minister Arun Jaitley on Tuesday said that the government wants petrol and petroleum products under the GST bracket. “Government is in favour of bringing petroleum products under GST. We would like to await consensus of the states and hope states at some stage soner or later agree to the consensus,” said Jaitley. At present, different petroleum products are taxed differently across states. Given the huge variance in the value-added tax (VAT) on petroleum products across the states, the petroleum ministry has been advocating for uniformity in taxes.
ENTERTAINMENT
OUT! AIYAARI and HICHKI trailers
Karan Johar’s gripping thriller
Aiyaari released its trailer on Tuesday, after lead actor Siddharth Malhotra
has dropped several hints in social media. Also starring veteran actors Manoj
Bajpai and Naseerauddin Shah, the film looks like a suspense with a patriotic flavor.
Meanwhile, actress Rani Mukherjee also featured in the trailer of her upcoming
flick, Hichki. Based around a speech condition, Mukherjee’s character can be
seen suffering from Tourette’s Syndrome, who wants to a teacher. This is her
comeback movie since she took a break during her pregnancy.
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