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  • The Central Board of Direct Taxes (CBDT) has directed the Income-Tax Department to initiate penalty proceedings by June 30 against non-filers and ‘drop filers’ of tax returns. Typically, the penalty for non-filing is pursued under Section 271F of the Income Tax Act, and that for late filing under Section 234. If an assessee files returns after the due date of August 31 but before December 31, it will attract a penalty of Rs 5,000. For those who file returns after December 31, the penalty rises to Rs 10,000. However, there is an exemption for small taxpayers — if the total income does not exceed Rs 5 lakh per annum, the maximum penalty will be Rs 1,000.newnew

  • After Madras HC ban ,TikTok vanishes from Apple app stores following the line of  Google. 
  • The Madras High Court on April 17, 2019, upheld the Election Commission’s decision of cancelling polling in Vellore Lok Sabha constituency in Tamil Nadu.
  • “Accepting the recommendation of Election Commission of India dated April 14, 2019, the honourable President is pleased to rescind election to 8-Vellore Parliamentary Constituency Tamil Nadu to elect a member to Lok Sabha,” said ECI spokesperson Sheyphali Sharan.
  • The Reserve Bank of India (RBI) on April 16th, 2019 told the National Company Law Appellate Tribunal (NCLAT) that banks had an obligation to mark bad loans as a non-performing asset (NPA) after the default of 90 days and that the lenders could not be relieved of the same.

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