'Countdown' has begun, I-T dept warns blackmoney holders of March 31 deadline

March 24, 2017

New Delhi, Mar 24: The Income Tax department today warned black money holders that it has "information" about their illegal deposits and they should avail the soon-to-end PMGKY window to come clean. In advertisements issued in leading national dailies, the department said that the "countdown" in this regard has begun and stash holders should declare their black money "or regret later".

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The window under the Pradhan Mantri Garib Kalyan Yojna (PMGKY) closes on March 31. The advertisement said that the "Income Tax department has information about your deposits." The department also said that total "confidentiality is ensured" to those who declare their black assets and funds under this scheme. It had recently also cautioned stash holders to avail the scheme or face stringent action under Benami laws, adding that the defaulters' names will also be shared with the central probe agencies like the Enforcement Directorate and the CBI.

The tax and penalty against those who hide their black money and fail to avail the PMGKY could go as high as 137 per cent of the cash deposits made, a senior officer had said, adding the department will not shy away from slapping the newly enacted Benami Transactions Act against defaulters. The official explained that a person or entity that opts for PMGKY will have to pay 49.9 per cent tax on the income, whereas a person who does not opt for the scheme but offers his black income in his Income Tax Returns will face a tax and penalty rate of 77.25 per cent.

The one who does not offer his stash funds under the scheme but is caught with undisclosed income in scrutiny assessment will face 83.25 per cent tax rate. For those who do not declare their stash under the PMGKY and are raided will face 107.25 per cent tax and penalty if the undisclosed income is surrendered during the action. Those who do not surrender such hidden income even during searches will stand to face the highest level of penalty and tax at 137.25 per cent.

The Benami Act invites rigorous imprisonment of up to seven years and the violators also stand to be charged under the I-T Act, besides being liable to pay fine up to 25 per cent of fair market value of benami property and other penalties. The Centre had come out with the PMGKY scheme after its decision to demonetise high value currency notes of Rs 500 and Rs 1,000 last year. A quarter of the total sum will also have to be parked in a non—interest bearing deposit for four years under the said scheme. The scheme had commenced on December 17 last.

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May 3,2024

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Mangaluru: The passenger vessel service between Lakshadweep and Mangaluru has recommenced operations with the arrival of Parali, a high-speed craft, at the Old Mangaluru Port on Thursday, May 2 

With 160 passengers on board, along with a pilot, a ship engineer, an assistant, and eight labourers, the arrival of the vessel brings hopes of reinstating this vital transportation link.

The passengers were welcomed by Congress brass. The vessels that used to arrive before the Covid-19 pandemic took 13 hours to reach Mangaluru from Lakshadweep. However, the introduction of the high-speed craft, Parali, has reduced the travel time to approximately seven hours, said Abubakar Ashraf Bengre.

Bengre is part of a team that has been instrumental in liaising with the authorities of both Lakshadweep and Karnataka to facilitate the revival of this service. He told reporters that the service would bring better economic activity to Mangaluru. 

Over recent months, discussions have been held with Hamdullah Sayeed, president, Lakshadweep Congress Committee, as well as Karnataka Speaker UT Khader and district minister Dinesh Gundu Rao, to garner support for the reintroduction of the service.

The passengers who arrived mostly sought medical treatment, went shopping or met relatives here. They said that they traveled for Rs 450. Former MLA J R Lobo said that they will urge the government to ensure regular vessel services continue.

The passenger service was discontinued due to a lack of demand, it is learnt. In the year 2018-19, 4,955 passengers embarked and 7,422 disembarked from the Old Mangaluru Port. Subsequently, the figures declined to 3,779 (embarked) and 2,294 (disembarked) in 2019-20. The numbers further plummeted to 561 (embarked) and 19 (disembarked) in 2020-21, leading to the suspension of the service.

At present, the administration of the Union Territory of Lakshadweep has released a schedule for high-speed craft movement from April 29 to May 5.

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April 23,2024

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The Karnataka government's decision to categorise the entire Muslim community as a backward caste for reservation purposes in the state has drawn criticism from the National Commission for Backward Classes (NCBC), which said such blanket categorisation undermines the principles of social justice.

According to the data submitted by the Karnataka Backward Classes Welfare Department, all castes and communities within the Muslim religion have been enlisted as socially and educationally backward classes under Category IIB in the State List of Backward Classes.

The NCBC, during a field visit last year, examined the state's reservation policy for OBCs in educational institutions and government jobs.

"All castes/communities of Muslim religion of Karnataka are being treated as socially and educationally backward classes of citizens and listed as Muslim Caste separately under Category IIB in the State List of Backward Classes for providing them reservation in admission into educational institutions and in appointments to posts and vacancies in the services of the State for the purpose of Articles 15(4) and 16(4) of the Constitution of India," the NCBC said in a statement on Monday night.

This categorisation has led to the provision of reservation benefits for 17 socially and educationally backward castes under Category I and 19 castes under Category II-A, respectively.

The NCBC said the blanket categorisation of Muslims as a backward caste undermines the principles of social justice, particularly for the marginalised Muslim castes and communities identified as socially and educationally backward.

However, the NCBC emphasised that while there are indeed underprivileged and historically marginalised sections within the Muslim community, treating the entire religion as backward overlooks the diversity and complexities within Muslim society.

"The religion-based reservation affects and works against ethics of social justice for categorically downtrodden Muslim castes/communities and identified socially and educationally backward Muslim castes/communities under Category-I (17 Muslim castes) and Category II-A (19 Muslim castes) of State List of Backward Classes. Hence, socially and educationally backward castes/communities cannot be treated at par with an entire religion," the NCBC stated.

The NCBC also voiced concern over the impact of such reservations on the overall framework of social justice, particularly in the context of local body polls.

While Karnataka provides 32 per cent reservation to backward classes in local body elections, including Muslims, the Commission stressed the need for a nuanced approach that accounts for the diversity within these communities.

According to the 2011 Census, Muslims constitute 12.92 per cent of the population in Karnataka.

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May 3,2024

Mangaluru, May 3: The Mangaluru City Corporation will resort to water rationing from May 5 as the Thumbe vented dam, which supplies drinking water to the city, is facing a shortage in water storage.

Instead of daily supply, water will be supplied on alternate days, the Executive Engineer (Water Supply) at the corporation said in a release.

The release said that water will be supplied to Mangaluru City North on May 5. There will be no water supply to Mangaluru City North on May 6. Instead water will be supplied to Mangaluru City South on May 6. Likewise the supply on alternate days will continue.

The inflow in the Netravathi has stopped, the release said, requesting people to cooperate with the corporation and not waste water for washing vehicles and other purposes.

An engineer at the corporation said that water level at the dam stood at 4.27 m on Wednesday against the full storage level of 6 m. If water is supplied daily to the entire city (Mangaluru City North and Mangaluru City South) the existing storage will last only for 16 days, the engineer said. Hence the decision to supply water on alternate days has been taken to supply water till May-end.

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