PAN-Aadhaar Linking: Non Linked PAN Cards Would Become Inoperative After September 30 Deadline

On March 31, the Central Board of Direct Taxes notified 30 September deadline for linking PAN (Permanent Account Number)with Aadhaar. Failing to do so would make the PAN “inoperative” according to the new Income Tax law proposed in the Finance Bill 2019.

What does the Finance Bill 2019 say?

Union Finance Minister Nirmala Sitaraman changed the PAN-Aadhaar linking rules in the budget presented in July 2019. The new rule says that if a person fails to intimate the Aadhaar number, the PAN allotted to the person shall be made inoperative according to the rules after the notified date that is 30 September. The amendment will come into effect on 1st September 2019.

Currently the PAN-Aadhaar linking is done under Section 139AA (2) that reads that allotted PAN shall be deemed “invalid” in case not linked to Aadhaar.

What is an “inoperative” PAN?

It is clear that people won’t be able to carry out financial transactions with “inoperative” PAN. But the definition of “inoperative” is yet to be explained by the lawmakers. Experts demand clarity on what will happen to PAN if not linked to Aadhaar … Read the rest

Earthquake In PoK Sends Shockwaves To Delhi & Islamabad

Pakistan-occupied-Kashmir was hit by a massive earthquake measuring 5.8 on Ritcher scale on Tuesday but the tremors were felt as far as Islamabad in Pakistan and Delhi in India.

Important facts about the earthquake

  • Epicenter was near New Mirpur city in PoK just 140km from Srinagar
  • Twenty-six people are reported to die and 300 injured due to earthquake
  • Pakistan sent alerts about aftershocks of similar intensity

Impact of the earthquake

The tremors cracked roads but at many places the roads were cut into two halves. Concrete buildings suffered maximum damage due to the earthquake. People uploaded videos of buildings collapsing and pictures of the debris accumulated on fractured ground. The devastation includes vehicles that got buried in cracked grounds and buildings.

Jhelum water spilled into homes

A part of road running parallel to the upper Jhelum river fell into the river resulting in spilling of the river water into nearby homes. The authorities have to stop spillway from the Mangla Dam to reduce flow in the upper Jhelum river.

Pakistan in the range of earthquake

The shockwave travelled to capital … Read the rest

Howdy, Modi: The World Rallied Behind India At The Houston Show

Young volunteers were seen shouting “Pakistaniyonkilaylee” while exchanging smiles and high-fives. PM Modi had just busted Pakistan without naming Imran Khan or even the country. But it was understood that Modi was talking about Pakistan.

Magic moments of the “Howdy, Modi”

  • Modi took a jibe at Pakistan’s concern over Kashmir issue instead of looking its own house and salvaging its reputation from becoming a hub for global terrorism.
  • Trump allowed Modi to bash Pakistan but asking for a standing ovation from the crowd for rallying against “radical Islamic terrorism” that goes beyond Pakistan.
  • Modi took the turn and called for a decisive war on terrorism and received another standing ovation from the audiences. He’s quick to seize the moment by linking 9/11 with 26/11. He asked that world knows where the perpetrators of the terrorist acts were hiding.
  • Neither of the two world leaders named Pakistan in their speeches but it was pretty clear to who they were referring too. While Modi gave clear hints that he’s talking about Imran Khan, Trump echoed his thoughts by saying that US knows India’s concerns with its borders.

Pakistan’s failed attempt to portray Read the rest

Why September 22 Is Celebrated As Daughter’s Day?

Following the theme of celebrating every relation, world celebrates Daughter’s Day every year on fourth Sunday of September. But some countries have different days for celebrating Daughter’s Day. In India, it is on 22nd September.

Why world needs Daughter’s Day?

Parents especially fathers don’t need a reason to celebrate daughters because it is daughters that spread love and happiness in families and society at large. Watching daughters growing up and becoming independent is a pride moment for parents.

History of Daughter’s Day

It isn’t known what led to the start of Daughter’s Day but it is believed that the social issues related to the birth of girl child would have led the world to celebrate daughters by dedicating a day to them. Issues like female infanticide and dowry continue to plague the society and they are available in every society.

Daughter’s Day marks the beginning of a new era where girl child gets equal rights in family and society. It reminds the society that daughters are here to celebrate life and festivals. They are they joy of life, family and society. But the society still … Read the rest

Google Doodle: Video Feature On Junko Tabei On Her 80th Birthday

Google dedicates today’s Doodle to Junko Tabei, the first woman mountaineer to reach the summit of Mount Everest and complete the Seven Summits. Today is 80th birthday of Junko Tabei.

The bare-bone search page of Google displays Junko’s journey from Mount Everest to the Seven Summits. The Doodle is a video of Junko Tabei jumping from one summit to another. She’s seen jumping from one letter of Google to another with each letter representing a summit.

Journey of Junko Tabei

Born on 22 September 1939 in Miharu, Fukushima, Junko Tabei began climbing mountains at the tender age of 10. In 1969, she started a formal group after she was continuously decried and discouraged by male mountaineers. Some of them even ill-treated her. But she refused to budge and continued her journey from one summit to another. The slogan of her group was “Let’s go on an overseas expedition by ourselves.”

Junko Tabei defied social hurdles

In 70s, Japan was male dominated society that believed in keeping women confined to homes. But Junko Tabei broke all the rules to fulfill her wish. In 1975, she left … Read the rest

Sensex Jumped to 1.921 Points In Response To Government’s Tax Cuts

Friday 20, September was a big day for the Dalal Street investors that experienced the biggest jump of 1,921 points on the last trading day. The Sensex closed at 38,014 points making the investors richer by 7.1 lakh crore. The jump soared the BSE’s market capitalization to 145 lakh crores. Also, the market cap has crossed $2-trillion mark.

What measures did the government announce?

Union Finance Minister Nirmala Sitharaman announced tax cuts for corporate companies in the radical changes in taxation rules. And the ripples of the tax cuts were felt across the industry. According to industry experts, the changes could boost profit of corporate companies by about 6-7% on an average. Also, some rule changes could attract foreign capital leading to employment opportunities for unemployed youth.

Here’s how the industry reacted to the tax cuts

DSP Investment Managers – the move would enhance corporate profitability and make Indian companies more competitive to global businesses.

Broking houses – NSE’s top 500 companies would see a boost in profit and India shares would attract foreign funds.

Yes Securities – combined net profit of NSE 500 companies … Read the rest