News That Matters

Tag: deadline

CBDT extends deadline for filing ITRs with audit reports to Oct 31, 2018

CBDT extends deadline for filing ITRs with audit reports to Oct 31, 2018

Finance
NEW DELHI: The government today extended by a fortnight till October 31 the deadline for filing Income Tax return (ITR) and audit report for financial year 2017-18. This is the second extension within a fortnight of the Central Board of Direct Taxes (CBDT), earlier extending the deadline for tax payers whose accounts have to be audited from September 30 to October 15. Tax audit is a review of accounts of taxpayers with business or profession from an income tax point of view such as incomes, deduction, compliance with tax laws, etc. Taxpayers with turnover exceeding Rs 1 crore in business (not opted for presumptive taxation scheme) or whose gross professional income is over Rs 50 lakh need to get a tax audit done. Tax audit report needs to be filed on or before the 30 September of the subse...
UIDAI extends deadline to deploy Virtual ID system to July 1

UIDAI extends deadline to deploy Virtual ID system to July 1

Finance
NEW DELHI: UIDAI has extended by one month to July 1 the deadline for service providers and agencies like banks and telecom companies to fully deploy Virtual ID system and accept these IDs in lieu of Aadhaar number. The Virtual ID (VID) feature is aimed at giving users the option of not sharing their Aadhaar number at the time of authentication. UIDAI - which had earlier said it will be compulsory for all agencies that undertake authentication to accept VID from their users from June 1, 2018 - has decided to give one more month after the user agencies said they needed more time to switch to the new system. "We are ready but the agencies wanted some more time to switch to the VID system. We have, therefore, given one more month till July 1," UIDAI CEO Ajay Bhushan Pandey told PTI. The exten...
Deadline to amend UK surveillance laws

Deadline to amend UK surveillance laws

Technology
High Court judges have given the UK government six months to revise parts of its Investigatory Powers Act.Rules governing the British surveillance system must be changed quickly because they are "incompatible" with European laws, said judges.The government has been given a deadline of 1 November this year to make the changes.The court decision came out of legal action by human rights group Liberty.Holding dataIt started its legal challenge to the Act saying clauses that allow personal data to be gathered and scrutinised violated citizens' basic rights to privacy.The court did not agree that the Investigatory Powers Act called for a "general and indiscriminate retention" of data on individuals, as Liberty claimed. However, the judges did call on the government to speed up the process of upd...
1,500 companies miss gender pay deadline

1,500 companies miss gender pay deadline

Business
Media playback is unsupported on your deviceMore than 1,500 companies have broken the law by failing to report their gender pay gap figures before Wednesday night's deadline.The Equalities and Human Rights Commission said 1,557 firms had missed the deadline.It will contact these companies to remind them of their legal obligations.Those that fail to comply will face an investigation by the equalities watchdog, followed by legal action and an unlimited fine.All companies, charities and public sector bodies with more than 250 employees were required to submit their gender pay figures before Wednesday's deadline.The EHRC will check whether those firms that failed to report fall into this category.One organisation that missed the deadline was the Unite union, which belatedly published its figur...
Aadhaar linking deadline likely to be extended for all financial services, instruments

Aadhaar linking deadline likely to be extended for all financial services, instruments

Finance
NEW DELHI: The government is likely to extend the deadline for linking Aadhaar with other financial investments/instruments beyond December 31. This is clear from the amendment in the Prevention of Money Laundering Rules made via a notification yesterday. The amendment removes the deadline of December 31, 2017 and replaces it with 'a date to be notified by the government'. This means that now the government can simply extend the date for linking of Aadhaar with bank accounts, mutual funds, insurance, PF accounts, post office schemes, and so on by issuing a notification. The amendment makes it clear that if the linking of Aadhaar is not done by the date to be notified by the government, the account or folio of the individual would be blocked. Earlier, the government had set a deadli...