Author: Prakhar Sachdeo

Hewlett Foundation will need prior govt approval for funding Indian NGOs: Officials

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Hewlett Foundation, one of the top American philanthropic institutions, has been barred by the Ministry of Home Affairs from donating funds to any Indian NGO without prior government approval after the alleged violation of laws by recipients, officials said. The US-based donor gave over USD 465 million to scores of organisations globally, including in India, in 2020.

The Hewlett Foundation provides funds to the NGOs working in diverse fields of education, environment, gender equity and governance. The American donor has been put on the ‘Prior Reference Category (PRC)’ under the Foreign Contribution Regulation Act, 2010 (FCRA), a Home Ministry official said.

Placing on the PRC or the MHA’s watch list means the foreign donor will not be able to send any fund to any NGO in India without prior approval of the government. The funds donated by the Hewlett Foundation were used by the Indian NGOs for purposes not allowed under the FCRA, the official alleged, without disclosing details.

The foundation was established in 1966 by engineer and entrepreneur William R. Hewlett and his wife Flora Lamson Hewlett with their eldest son Walter Hewlett. William R. Hewlett was the co-founder of the global technology giant Hewlett-Packard (HP).

Under the new rules, all FCRA registered NGOs have to maintain an account at the State Bank of India’s parliament street branch in New Delhi. Once an NGO is placed under the PRC, the bank has to inform the MHA if there is any fund transfer from abroad before being credited to the account concerned.

It is the MHA that takes the final decision whether the foreign fund will be allowed to be credited to the account of the Indian NGO concerned, another official said. The prohibitive action against the Hewlett Foundation has been taken since November 2021.

The government has cancelled the FCRA registration of nearly 1,900 NGOs for violating various provisions of the law in the last five years. There were 22,762 FCRA-registered organisations till December-end 2021.

Officials said the FCRA licence of 18,778 organisations expired between September 29, 2020 and December 31, 2021. Out of them, as many as 12,989 organisations have applied for the renewal of the FCRA licence between September 30, 2020 and December 31, 2021. Since 5,789 organisations did not apply for the renewal of the FCRA licence last month, they were deemed to have ceased to be FCRA registered organisations, an official said.

Registration under the FCRA is a must for any NGO to receive funds from abroad.

Also Read: Govt’s decision to restrict flow of foreign funds affects crucial humanitarian work, says Oxfam India

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Govt working on classification of cryptocurrency under GST law

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The government is working on the classification of cryptocurrency as goods or services under the GST law, so that tax can be levied on the entire value of transactions. Currently, 18 per cent Goods and Services Tax (GST) is levied only on services provided by crypto exchanges and is categorised as financial services.

GST officers are of the view that cryptos, by nature, are similar to lottery, casinos, betting, gambling, horse racing, which have 28 per cent of GST on the entire value. Besides, GST at 3 per cent is levied on the entire transaction value in case of gold. “There is a clarity needed in regard to levy of GST on cryptocurrencies and whether it has to be levied on the entire value, We are seeing whether cryptocurrencies can be classified as goods or services and also removing any doubt on whether it can be called an actionable claim,” an official said.

Another official said that if the GST is levied on the entire transaction of cryptocurrencies then the rate could be in the range of 0.1 to 1 per cent. “Discussions are in a nascent stage on the rate of tax, whether it would be 0.1 per cent or 1 per cent. First a decision on classification will have to be finalised and then rate will be discussed,” the official told PTI.

The Goods and Services Tax (GST) law does not clearly state about the classification of cryptocurrency and in the absence of a law on regulating such virtual digital currencies, the classification has to take into account whether the legal framework classifies it as an actionable claim. An actionable claim is a claim which can be made by a creditor, for any type of debt other than a debt secured by a mortgage of immovable property.

The 2022-23 Budget has brought in clarity with regard to the levy of income tax on crypto assets. From April 1, a 30 per cent I-T plus cess and surcharges, will be levied on such transactions in the same manner as it treats winnings from horse races or other speculative transactions. The Budget 2022-23 also proposed a 1 per cent TDS on payments towards virtual currencies beyond Rs 10,000 in a year and taxation of such gifts in the hands of the recipient. The threshold limit for TDS would be Rs 50,000 a year for specified persons, which include individuals/HUFs who are required to get their accounts audited under the I-T Act.

The provisions related to 1 per cent TDS will come into effect from July 1, 2022, while the gains will be taxed effective April 1. Separately, the government is working on legislation to regulate cryptocurrencies, but no draft has yet been released publicly.

AMRG & Associates Senior Partner Rajat Mohan said actionable claims, other than lottery, betting and gambling are not exigible to GST. “Private cryptocurrency can neither be termed ‘money’ nor be categorized as ‘securities’ for taxation, thereby, what remains to be checked is whether the legal framework would categorize the same as ‘actionable claim’ or not,” Mohan added.

Also Read: Can cryptocurrency replace loyalty rewards programmes?

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

EPFO adds 15.29 lakh subscribers in January

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Retirement fund body EPFO added 15.29 lakh subscribers on a net basis in January 2022, an increase of over 21 per cent compared to 12.60 lakh in December 2021, according to the latest payroll data. “The provisional payroll data of EPFO has been released today, i.e., 20th March 2022, which highlights that EPFO has added 15.29 lakh net subscribers during January 2022. Month-on-month comparison of payroll data also indicates an increase of 2.69 lakh net subscribers addition in January 2022, as compared to the net additions during the previous month of December 2021,” a labour ministry statement said on Sunday.

As per the data, 12.60 lakh net new members were added in December 2021. Of the total 15.29 lakh net subscribers added in January, around 8.64 lakh new members have been registered under the social security ambit of the EPF & MP Act, 1952, according to the statement. Approximately 6.65 lakh net subscribers exited the scheme but re-joined EPFO by continuing their membership with EPFO instead of opting for final withdrawal.

The payroll data also reflects a declining trend in the number of members exited since July 2021, the statement said. Age-wise comparison of payroll data revealed that the age group of 18-25 years has recorded the highest number of net enrolment with 6.90 lakh additions in January 2022, around 45.11 per cent of total net subscribers added in the month.

The age group of 29-35 years registered a healthy addition of around 3.23 lakh net enrolments. This indicates that first-time job seekers are joining the organised sector workforce in large numbers and signifies a crucial stage for an individual’s potential in terms of earning capacity. State-wise comparison of payroll figures highlights that the establishments covered in Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka are leading by adding approximately 9.33 lakh subscribers during the month, which is around 61 per cent of total net payroll addition across all age groups.

Gender-wise analysis indicates that net female payroll addition during the month is approximately 3.20 lakh. The share of female enrolment is about 21 per cent of the total net subscriber’s addition in January 2022, with a rise of 57,722 net enrolments over the previous month. Industry-wise payroll data shows that the ‘expert services’ category (consisting of manpower agencies, private security agencies and small contractors etc) constitutes 39.95 per cent of total subscriber addition during the month. The growing trend in net payroll additions has been noted in industries like expert services, engineering contractors, trading (commercial establishments) and building & construction industry etc.

The EPFO has recorded net new subscribers of 1.02 crore from April to January this fiscal year. It had added net new subscribers 77.08 lakh in 2020-21 and 78.58 lakh in 2019-20 and 61.12 lakh in 2018-19. The payroll data is provisional since the data generation is a continuous exercise, as updation of employee record is a continuous process. The previous data hence gets updated every month. From the month of April-2018, EPFO has been releasing payroll data covering the period September 2017 onwards.

The EPFO is committed to extending social security benefits in the form of Provident, Pension and Insurance Funds to the organised workforce of the country, covered under the aegis of Employees’ Provident Funds & Miscellaneous Provisions Act, 1952. With extensive use of social media nowadays, EPFO is also available on Twitter, WhatsApp and Facebook to help the subscribers and address their issues, the statement added.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Three grenades found at deserted ground near school in Ambala

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Three live hand grenades were recovered on Sunday from a deserted ground near the campus of a public school in Sadopur village close to the Ambala – Chandigarh highway and around three kilometers from Ambala City, police said. A multi-storey under-construction building of a medical college is also near the ground, they said.

Police said the matter came to light when one of the labourers working in the under-construction building went to the ground this morning and noticed bomb-like articles lying there. The labourer reported the matter to his supervisor, who informed the police. After getting information, Ambala’s Superintendent of Police, Jashandeep Singh along with police force rushed to the site.

A bomb disposal squad was also summoned to the spot. The squad defused all the three live hand grenades in the adjoining abandoned area. Police said that it could not be ascertained how the hand grenades reached there. The matter is being investigated, they said.

The area from where the grenades were found has three public schools in its vicinity. Ambala- Chandigarh rail track also crosses nearby it.

Also Read: Make no illegal recommendation, work to resolve people’s problems: Punjab CM Bhagwant Mann to party MLAs

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

I-T department detects Rs 224-crore undisclosed income after raids on start-up firm Infra.Market

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Income Tax department has detected “undisclosed” income of more than Rs 224 crore after it recently raided Maharashtra-based unicorn start-up Infra. Market, officials said on Sunday. The searches were launched on March 9 at the firm’s 23 premises in Maharashtra, Karnataka, Andhra Pradesh, Uttar Pradesh and Madhya Pradesh.

The CBDT said the group, founded by Souvik Sengupta and Aaditya Sharda in 2016, is “engaged in wholesale and retail (business) of construction materials and has a pan-India presence with an annual turnover exceeding Rs 6,000 crore.” The Central Board of Direct Taxes (CBDT) is the policy-making body for the I-T department. Officials identified the searched entity as the Infra.Market group.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Make no illegal recommendation, work to resolve people’s problems: Punjab CM Bhagwant Mann to party MLAs

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Punjab Chief Minister Bhagwant Mann on Sunday cautioned his party MLAs against making any recommendation for any illegitimate work while asking them to work for resolving people’s problems. He also asked the Aam Aadmi Party legislators to work hard for turning Punjab into a vibrant state.

Cautioning the MLAs against making any illegitimate recommendation, he said, If you recommend for anybody, it means you are taking away somebody else’s right. Mann gave the advice while addressing his party’s 91 MLAs at Mohali here.

People have given us a very big mandate. We have to reach every nook and corner to resolve people’s issues. We have to bring change in people’s lives, said Mann in his address. Wherever there is a problem we have to go there. We should not see we got less number of votes from this village, said Mann.

This government is also of those people who did not vote for the AAP, said Mann, flanked by AAP’s Punjab co-incharge Raghav Chadha. People of all sections have voted for us, be it farmers, youths, traders, lawyers or government employees. Everyone came together to form the government of the Aam Aadmi Party. So listen to people without discrimination and solve their problems, said Mann.

He asked the MLAs to be polite with everyone and not to use any objectionable language against anyone. He also cautioned them against indulging in any vendetta politics.

Without naming anyone, Mann said he has received some complaints in which objectionable language was used on social media. Pointing out that the people have high expectations from them, the chief minister asked the MLAs to treat everyone with love and never misbehave with anyone.

He said his government will soon issue a notification and an advertisement for 25,000 government jobs within a month. In the first decision of his first Cabinet meeting on Saturday, Mann had thrown open 25,000 jobs in various state government departments, including 10,000 in Police Department.

Mann said in Delhi, the performance of each MLA is surveyed. In the 2020 Delhi Assembly elections, 22 sitting MLAs were denied tickets due to negative survey reports about them, he said.

He said in other rival parties like Congress and Akalis, tickets are guaranteed for some family or clan but it does not happen in the AAP. Mann told the MLAs that if they want their seats to remain confirmed for the next time, they should work for the people in their respective constituencies.

He further pointed out that if any work was done in the wrong way, the party will get a report on the same. I am giving you a suggestion. I am not scaring you, Mann told the MLAs.

He said they can meet ministers for any work for the people. The work should be legitimate. Do not make recommendations for any wrong work, he told the MLAs.

He further said the portfolio of newly-appointed ministers will be announced soon. Mann asked the MLAs to open offices in their respective constituencies for meeting people and addressing their issues.

He also asked them to be punctual. We should not waste time. We have to work 18 hours a day, he said.

Mann said their target should be to turn Punjab prosperous once again, to make it ‘Rangla’ (vibrant) Punjab.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

F1 drivers to support UNICEF appeal for Ukraine at Bahrain Grand Prix 2022

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Formula One drivers will gather together on the grid ahead of Sunday’s season-opening Bahrain Grand Prix to raise awareness of UNICEF’s emergency fundraising appeal for its programmes helping children and families in Ukraine and other conflict zones, the sport said on Sunday.

The 20 drivers will stand on the grid behind a banner in support of the appeal, urging fans to consider donating to the United Nations children’s agency’s appeal.

Formula One and teams have already made a “generous donation”, the sport said, without specifying a number.

Russia invaded Ukraine on Feb. 24.

Over three million have fled the fighting for other countries, according to United Nations data, in what has become Europe’s fastest-growing refugee crisis since World War Two.

Russia calls its actions in Ukraine a “special military operation”.

Check: Russia-Ukraine war updates here

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

ICC rates Bengaluru pitch used for IND vs SL 2nd Test as ‘below average’

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Chinnaswamy Stadium pitch in Bengaluru, which was used for the second Test between India and Sri Lanka earlier this month, was on Sunday rated “below average” by the International Cricket Council (ICC).

India had defeated Sri Lanka by 238 runs in the Test which began on March 12 and ended inside three days.

The venue thus received one demerit point under the ICC Pitch and Outfield Monitoring Process. “The pitch offered a lot of turn on the first day itself and though it improved with every session, in my view, it was not an even contest between the bat and ball,” match referee Javagal Srinath said in a statement issued by ICC.

Srinath’s report has been forwarded to the BCCI. In 2017, the Bangalore wicket was rated as below average by ICC match referee Chris Broad after the second Test between India and Australia. According to the revised ICC Pitch and Outfield Monitoring Process, which was introduced on January 4, 2018, “if a pitch or outfield is rated as being substandard, that venue will be allocated a number of demerit points.” “One demerit point will be awarded to venues whose pitches are rated by the match referees as below average, while three and five demerit points will be awarded to venues whose pitches are marked as poor and unfit, respectively.

“No demerit point will be awarded when the outfield is rated as below average, but two and five demerit points will be awarded to venues whose outfields are marked as poor and unfit, respectively.” Demerit points will remain active for a rolling five-year period. When a venue accumulates five demerit points (or crosses that threshold), it will be suspended from hosting any international cricket for a period of 12 months, the ICC said. A venue will be suspended from staging any international cricket for 24 months when it reaches the threshold of 10 demerit points.

Also Read: IPL 2022 – Navdeep Saini eager to connect with Trent Boult at Rajasthan Royals

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

IPL 2022: Navdeep Saini eager to connect with Trent Boult at Rajasthan Royals

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian quick Navdeep Saini is eager to observe Trent Boult “go about his business” and pick the New Zealand pace spearhead’s brain in a bid to improve his game during his stint with the Rajasthan Royals in the IPL this season.

One of the fastest bowlers in the country currently, Saini will be an important cog in the Royals’ newly forged fast bowling line-up alongside Boult.

“I am most looking forward to connecting with Trent Boult during the IPL. He is someone who has achieved so much in both international and IPL cricket, and it’ll be a great experience to just speak to him about various aspects of fast bowling,” Saini was quoted as saying in a release. “I’ll be most focused on observing him go about his business, and hopefully that should also help in improving my own game, added Saini, who has 17 wickets in the IPL at an economy of 8.47.

Having recently been a part of the Delhi squad during the league stage of the Ranji Trophy, where he picked up five wickets in two matches, the Karnal Express hopes to get better as he shifts his focus to the white-ball game, aiming to contribute and help the Royals.

“I’m looking forward to working with the very experienced coaching group and a talented group of players. The Royals are known for fostering a fantastic atmosphere around the group, and I’m simply looking to experience that and connect with everyone and get going this season.” I’m also really excited to work with Kumar Sangakkara and Lasith Malinga, and pick their brains on various aspects of the game. I think this will be a great opportunity for me to learn and groom myself, further evolving my skills and contributing to the team’s performances, Saini added.

The 29-year-old also revealed he shares a good bond with the Royals skipper Sanju Samson.

“I share a great rapport with Sanju. I have spent a lot of time with him at the national team and have had a lot of discussions with him off the field. I feel it’s going to be a fresh experience, playing under him; he’s someone who creates a fun atmosphere around the team which helps everyone settle in quickly and feel a part of the team.” Saini said.

Having missed the majority of IPL 2021 due to injury concerns, Saini said he’s been putting in the hard yards.

“I wasn’t able to play a lot of matches last season, but I think I’m coming into this season on the back of a lot of hard work that I’ve put into myself, both on and off the field.  I’m feeling good about my bowling again, and can’t wait to get back into the IPL and perform for the team.”Saini said.

The speedster signed off by touching upon his ambitions for the season with the Royals. I feel we’ve got a good squad with a mix of exciting and experienced players, all of whom have done well for their respective nations and state sides in the build-up to the IPL. There’s been a nice feeling around the camp even at training, and some really intense sessions.”

“On a more personal note, the goal is to help the team with my abilities and performances, be it bowling with the new ball, in the middle overs, or at the death. “It is important to plan smartly and then execute them properly, especially, given the nature of modern-day T20 cricket, where there’s no margin for error for the bowlers, he said.

Check: IPL 2022 – Full schedule, match timing and venues 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

IPL 2022: Retained players have a responsibility to guide youngsters, says Delhi Capitals coach Ricky Ponting

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Having bought a lot of new faces at the IPL mega auction this year, Delhi Capitals head coach Ricky Ponting stressed that the players who have been retained by the franchise now have a responsibility to guide the youngsters in the team.

The Capitals had retained four players — skipper Rishabh Pant, opener Prithiv Shaw, spin all-rounder Axar Patel and South Africa pacer Anrich Nortje — ahead of the auction and the coach is trying his best to get to know the rest of the squad ahead of the league which begins on March 26.

“I have told the boys to keep their doors open when they are in their rooms and get to know each other. I am going to have breakfast, lunch and dinner with all the younger guys that I don’t know,” Ponting was quoted as saying in a media release. “When you show love towards the younger guys as a coach or a senior player, you know that they are going to give it back.” “The guys who have been in the Delhi Capitals camp for a while definitely have the responsibility of guiding the youngsters in the team. “Rishabh’s captain, so he’s going to do that anyway, but guys like Prithvi, Axar and Nortje will also have their roles and responsibilities within the team,” he added.

Ponting was impressed with the energetic vibe around the group of players when he attended his first training session with the team. “At the moment, we need to really focus on what we need to do to get ready for game one. I had a great first session with the players. There’s an energetic vibe around the team, which is what we always strive for,” Ponting said.

Delhi Capitals’ new foreign recruits include David Warner, Mitchell Marsh, Tim Seifert and Rovman Powell. Vicky Ostwal, Chetan Sakaria, Yash Dhull, Sarfaraz Khan and Kamlesh Nagarkoti are the youngsters in the side.

Delhi Capitals will open their campaign against Mumbai Indians on March 27.

Check: IPL 2022 full schedule, match timing and venues

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow