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NGOs fear more harassment as Modi government changes rules for registrations -Vijayta Lalwani

-Scroll.in Non-profit organisations will now have to renew their registrations under the Income Tax Act every five years. On February 1, when Finance Minister Nirmala Sitharaman introduced the Budget in Parliament, she presented a number of amendments under the finance bill 2020. Some of these alter the validity of registrations granted to Indian non-governmental organisations. The Bill, which will come into effect on June 1, amends certain sections under the Income Tax...

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The opacity around electoral bonds -Trilochan Sastry

-The Hindu If big money entirely funds elections in a secretive way, democracy as we know it will not exist The recent disclosures that the Election Commission (EC) and the Reserve Bank of India (RBI) had expressed reservations about the Electoral Bonds scheme highlight the importance of this issue. In 2017, the then RBI Governor wrote to the then Finance Minister that “allowing any entity other than the central bank to issue...

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RTI query: Are chief ministers drawing MP pension? Lok Sabha office says information is personal -Vishal Narayan

-The Telegraph An MP loses his entitlement to pension and perks if he is appointed the President, Vice-President or is re-elected to either House or gets employed in the government New Delhi: An RTI query seeking details on allowances and pensions to former MPs who are chief ministers has resulted in a strange reply. The information, the Lok Sabha secretariat has informed, was "personal", so details would not be shared. According to the...

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Budget riddle on cash withdrawals: 'Income' tax on 'non-income' -Sambit Saha

-The Telegraph The obvious question: if the cash withdrawal isn’t designated as “income”, how can you tax it under the “income” tax act? The Narendra Modi government has left tax consultants and legal eagles deeply puzzled as they try to wrap their heads around the legalese of a change to the income-tax act. The change, incorporated in the budget presented by Nirmala Sitharaman and amended afresh on Thursday, mandates banks to deduct a...

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Demands for Grants, finance bill may escape scrutiny of Parliamentary panels -Shishir Sinha

-The Hindu Business Line Almost half of the budgetary exercise is over, but Parliament is yet to see formation of department-related standing committees (DRSC). This means Demands for Grants and the finance bill will not be vetted by DRSCs as of now. The Lok Sabha is scheduled to take up the finance bill for consideration and passage during the week starting July 15. There will also be discussions and voting on Demands...

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