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IT Department to map digital behaviour of taxpayers to create profiles

IT Department to map digital behaviour of taxpayers to create profiles

Finance
The income tax department will map the digital behaviour of taxpayers to create their profiles under faceless scrutiny assessment in electronic mode, a senior official said, as all interactions of a taxpayer with the tax authority will be logged. Faceless assessment will be a complete shift from the earlier practice where taxpayers could sit with the assessing officer and resolve issues at one go, following a single notice of demand, and even seek adjournment for hearings over telephone calls. “If I give you a requisition for five things, you (taxpayer) respond to one, and take adjournment to respond to the other, that’s assessee behavior that is being mapped, which in the manual days was not being mapped,” Smita Jhingran, chief commissioner of income tax at Regional e-Assessment Centre, D
Scientists move to create single, comprehensive list of Earth’s living species

Scientists move to create single, comprehensive list of Earth’s living species

Science
July 7 (UPI) -- An international group of scientists hope to convince biologists, taxonomists, conservationists and policy makers the world over to use a single, comprehensive list of the world's species -- from mammals and birds to plants, fungi and microbes. On Tuesday, the team of scientists, organized by the International Union of Biological Sciences, published a series of principles in the journal PLOS One that they hope will serve as a roadmap for compiling such a list. Advertisement It's not the first time scientists have called for a big list of all the planet's living things. "There have been attempts to do this, and even quite good ones, such as the Catalogue of Life," IUBN team member Frank Zachos told UPI. "But it is a relatively small group of people that decide which specie...
Here’s a foolproof way to create retirement income for the rest of your life

Here’s a foolproof way to create retirement income for the rest of your life

Finance
MoMo ProductionsThe secret to building sustainable income in retirement is right in front of you — and the IRS has had it all along.Retirees generally know all about required minimum distributions. This is the annual withdrawal that you must take from your individual retirement account and 401(k) plans after you turn 70½ — or, starting this year, 72.This calculation is based on your account value as of the end of the prior year, as well as your remaining life expectancy."The RMD can go on until you're 100 or 110, if you live that long," said Steven Vernon, actuary and research scholar at the Stanford Center on Longevity."It's a fairly low withdrawal rate in your 70s, and if you couple it with stock investments, you'll have time for growth."Vernon coauthored a paper in 2017 that a
Coronavirus: Home insulation ‘could create cheap jobs’

Coronavirus: Home insulation ‘could create cheap jobs’

Science
Making people's homes cosy is the cheapest way to create jobs as the UK prepares to fight recession, a report says. Its authors say a job insulating homes would be much cheaper than creating a road maintenance job, for example.Jobs in building roads are more costly to create, as the work is heavily mechanised.The figures will be sent to the Treasury, which is reviewing a package of job stimulus measures for July.The report's authors say a job in home insulation can be created for £59,000 - that's far less than a road maintenance job, which is estimated by the government to be more than £250,000.Those figures include retrofitting 10 homes with insulation, and the road surface laid by a worker.The report comes from a coalition of charities, businesses and p