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9 million Americans will get letters about missing stimulus checks. Here’s where those notices are going

Finance
Sarah Casillas | DigitalVision | Getty ImagesThe IRS has a message for about 9 million Americans: You could still be eligible for a $ 1,200 stimulus check.The government has sent out about 160 million stimulus checks since legislation authorized those payments in the spring.Still, millions of Americans have yet to receive any money for one key reason: They typically don't file federal tax returns, usually because their income is too low, and consequently do not have information on file with the IRS.More from Personal Finance:At least 20 states start paying extra $ 300 weekly unemploymentThe CDC banned evictions, but some renters are still vulnerableStill haven't filed a 2019 tax return? Penalties about to get steeperThose Americans have until Oct. 15 to use the tax agency's non-filer too...
NCLT issues notices to Axis, StanC, Ramesh Bawa kin

NCLT issues notices to Axis, StanC, Ramesh Bawa kin

Finance
MUMBAI: A Mumbai bench of the National Company Law Tribunal (NCLT) has issued notices to the CEOs of Axis Bank and Standard Chartered Bank on a plea by the Ministry of Corporate Affairs (MCA) after it was found that former IL&FS executive Ramesh Bawa had transferred Rs 1.14 crore from his bank accounts to the accounts of his wife and daughter despite the court ordering the freezing of his accounts. Investigations by the MCA showed that Rs 1.14 crore were was transferred from Ramesh Bawa’s account to the accounts of his wife Asha Kiran and daughter Akansha after the court had ordered the freezing of his accounts on December 3. Besides the withdrawal of money the lockers in the name of Bawa were also opened in Axis and Standard Chartered Bank, some as late as March 27 2019. “It is clear ...
Thousands of taxpayers get notices for minor defaults

Thousands of taxpayers get notices for minor defaults

Finance
MUMBAI: Mridula stood shivering outside the magistrate court in Mumbai. It wasn’t the drop in temperature, but the thought that she could land in jail owing to a rigorous Income-Tax (I-T) provision, which did not look into the severity of her tax default. She had defaulted by 30-odd days on depositing TDS collected from her employees’ salary. Her two-year-old content company has six full-time employees and deals with freelancers when there is a spike in work. Mridula was shocked to get a notice from the I-T department saying: ‘To show-cause as why prosecution under section 276B, read with section 278B of the I-T Act, should not be launched.’ The sections deal with failure to deposit TDS with government, and the maximum imprisonment is 7 years. According to Mridula (name changed...