MINISTRY OF LAW AND JUSTICE
Lakshadweep Value Added Tax Regulation, 2022 (SEP 20, 2022)
In exercise of the powers conferred by article 240 of the Constitution, the President is pleased to promulgate the following Regulation made by her. It extends to the whole of the Union territory of Lakshadweep.
The provisions of this Regulation shall come into force on such date as the Administrator may, by notification in the Official Gazette, appoint.
CENTRAL BOARD OF DIRECT TAXES
Income-tax (31st Amendment) Rules, 2022 (SEP 20, 2022)
In the Income-tax Rules, 1962, after rule 12AC, the following rule shall be inserted, namely: ––
‘12AD. Return of income under section 170A.— (1) The modified return of income to be furnished by a successor entity to a business reorganisation, for an assessment year, shall be in the Form ITR-A and verified in the manner specified therein.'
SUPREME COURT
Supreme Court upholds validity of Haryana Sikh Gurdwara Management Act (SEP 20,2022)
The Supreme Court on September 20, 2022 upheld the constitutional validity of the Haryana Sikh Gurdwara (Management) Act, 2014 under which a separate committee was formed to manage the affairs of gurdwaras in the state.
A bench of Justices Hemant Gupta and Vikram Nath dismissed the plea filed by a member of the Shiromani Gurdwara Prabandhak Committee seeking quashing of the Haryana Sikh Gurdwara Act.
Ministry of Labour & Employment
ALL-INDIA CONSUMER PRICE INDEX NUMBERS FOR AGRICULTURAL AND RURAL LABOURERS – AUGUST, 2022 (SEP 20, 2022)
The All-India Consumer Price Index Number for Agricultural Labourers and Rural Labourers (Base: 1986-87=100) for the month of August, 2022 increased by 9 points each to stand at 1140 (One thousand one hundred and forty) and 1152 (One thousand one hundred and fifty two) points respectively.
The major contribution towards the rise in general index of Agricultural Labourers and Rural Labourers came from food group to the extent of 7.74 & 7.36 points respectively mainly due to increase in prices of rice, Wheat-Atta, Bajra, Maize, Pulses, Milk, Onion, Chillies Green/Dry, Turmeric whole, mixed spices, Vegetables & Fruits, Gur, etc.
WORLD AFFAIRS
Morgan Stanley to pay $35 mln to settle SEC charges it mishandled customer data (SEP 20, 2022)
Dating back to 2015, the firm failed to properly dispose of devices containing sensitive information, including repeatedly hiring a moving and storage company with no proper expertise to decommission thousands of hard drives and servers, the SEC said. Those devices wound up being sold to a third party and ultimately auctioned online with the personal information intact and unencrypted. Only a portion of those devices were recovered, according to the regulator.
NEWS AT GLANCE
- Election Commission seeks limits on cash donations to political parties.
- India and Egypt agree to identify expanding cooperation between their defence industries.
- Number of domestic travellers doubled in the country in the last eight years.
- ED summons Aam Aadmi Party MLA Durgesh Pathak in connection with Delhi liquor policy scam.
- CBI files chargesheet against Yes Bank co-founder Rana Kapoor in 466 crore rupees bank fraud case.
- World leaders to begin their high-level meeting of UN General Assembly in New York today; Global polarisation, Russia-Ukraine conflict, food & energy crisis, economic problems and natural disasters likely to dominate agenda.
WORD OF THE DAY
An a priori assumption is an assumption that is presumed to be true without any assessment of the facts or without further proof. It is assumed the sun will come up tomorrow.
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