Month: August 2021

A bill that seeks to do away with the contentious retrospective tax provision and will impact retro tax cases of Cairn Energy and Vodafone was introduced by Finance Minister Nirmala Sitharaman in Lok Sabha on Thursday.

The Taxation Laws (Amendment) Bill, 2021 was introduced by the Finance Minister in Lok Sabha on Thursday.
The bill was introduced among protests by opposition members over their demand for a probe into allegations of surveillance through Pegasus spyware and repeal of farm bills.

The Central Universities (Amendment) Bill, 2021 was also introduced in Lok Sabha.

The Rajya Sabha passed three bills – Commission for Air Quality Management in NCR and Adjoining Areas Bill, 2021, the Essential Defence Services Bill, 2021, and the Constitution (Scheduled Tribes) Order (Amendment) Bill, 2021. The bills were passed amid opposition protests over their demands.

The Taxation Laws (Amendment) Bill proposes to amend the Income Tax Act, 1961 to provide that no tax demand shall be raised in future on the basis of the retrospective amendment for any indirect transfer of Indian assets if the transaction was undertaken before May 28, 2012.

The Finance Bill, 2012 had received the assent of the President on this day.

The new bill proposes that the demand raised for indirect transfer of Indian assets made before May 28, 2012 shall be nullified on fulfilment of specified conditions such as withdrawal or furnishing of undertaking for withdrawal of pending litigation and furnishing of an undertaking to the effect that no claim for cost, damages, interest shall be filed.

British oil and gas company Cairn Energy is seeking to recover USD 1.2 billion from India after winning an arbitration against retro tax. An appeal against the order was filed in the Hague Court of Appeal on March 22, 2021 by the Indian Government.

The Finance Act, 2012 provided for validation of demand under the Income-tax Act, 1961 for cases relating to indirect transfer of Indian assets.

In its pursuance, income tax demand had been raised in seventeen cases.

In two cases, assessments are pending due to stay granted by High Court. Arbitration under Bilateral Investment Protection Treaty with United Kingdom and Netherlands had been invoked in four cases. In two cases, the Arbitration Tribunal ruled in favour of taxpayer and against the Income Tax Department.

The statement of objects and reasons of the new bill states that clarificatory amendments made by the Finance Act, 2012 invited criticism from stakeholders mainly with respect to retrospective effect given to the amendments.

“It is argued that such retrospective amendments militate against the principle of tax certainty and damage India’s reputation as an attractive destination. In the past few years, major reforms have been initiated in the financial and infrastructure sector which has created a positive environment for investment in the country,” it says.

“However, this retrospective clarificatory amendment and consequent demand created in a few cases continues to be a sore point with potential investors,” it adds

The statement says that the country today stands at a juncture when quick recovery of the economy after the COVID-19 pandemic is the need of the hour and foreign investment has an important role to play in promoting faster economic growth and employment.

Congress leader Adhir Ranjan Chowdhury accused the government of passing bills in hurry amid protests by the oppositon.

“We haven’t demanded much, our only demand is that there should be a discussion on Pegasus snooping. Or demand is valid, but this government is trying to frame it as invalid,” said the Congress leader. (ANI)

India said on Thursday that it is closely monitoring the evolving security situation in Afghanistan and continues to call for an immediate and comprehensive ceasefire.

India also said that it will share its vision and perspective on Afghanistan at the United Nations Security Council meet on Friday.

Addressing the weekly media briefing here, Ministry of External Affairs Spokesperson Arindam Bagchi said India has been supporting the government and people of Afghanistan in realizing their aspiration for a peaceful, democratic and prosperous future where the interest of all sections of Afghan society including the women and minorities are protected.

“Our relationship covers various aspects, including a strong development partnership component. We’re also strategic partners and our relationship is guided by a strategic partnership agreement that both countries signed in 2011,” he said.
Bagchi said India will continue to back the Afghan-owned, Afghan-led and Afghan-controlled peace process.

“We are closely monitoring the evolving security situation in Afghanistan. We continue to call for an immediate and comprehensive ceasefire,” he said.

The UNSC will be meeting on Friday under India’s presidency to discuss the surge in violence by the Taliban and the deteriorating security situation.

“As regards to the UN security council, the issue of Afghanistan will be deliberated there tomorrow. During tomorrow’s debate, we will share our vision and perspective on Afghanistan. And we look forward to important deliberation on this important issue,” the spokesperson said.
He backed the UN statement issued earlier this month which condemned the ongoing violence in Afghanistan.

The members of the United Nations Security Council (UNSC) earlier this week expressed deep concern about the high levels of violence in Afghanistan and called for an immediate reduction of violence.

Afghanistan has witnessed a surge in violence as the Taliban has intensified their offensive against civilians and Afghan security forces with the complete pullback of the US and NATO forces just a few weeks away. (ANI)

Indian wrestler Ravi Dahiya on Thursday settled for silver after going down against Russian Olympic Committee’s (ROC) Zavur Uguev in the men’s 57 kg freestyle category at the Tokyo Olympics.

Uguev dominated the match and didn’t give any chance to the Indian grappler to come out with flying colours as India lost the chance to win its first gold medal in wrestling.
Despite starting off cautiously Uguev got off to the mark and doubled his lead within seconds.

Ravi might have equalled the scoreboard at 2-2 but Uguev showing off his immense power again took the lead as the Indian wrestler trailed 4-2 after the conclusion of the first period.
Uguev came firing on all cylinders and further extended his lead as he gave no chance to Ravi to dominate the game.

At one point, Uguev was leading the match 7-2 when Ravi earned two more points to come close to his opponent.

Earlier in the day, wrestler Anshu Malik bowed out after losing to Russian Olympic Committee’s Valeria Koblova in the Women’s freestyle 57 kg repechage.

Also, grappler Vinesh Phogat’s hopes of winning a bronze medal were dashed on Thursday as her quarter-final opponent Vanesa Kaladzinskaya of Belarus lost in the semi-final of the multi-sporting event.

As a result of this loss, Vinesh’s hopes of winning bronze through repechage was also dashed. (ANI)

India], August 5 (ANI): Prime Minister Narendra Modi on Thursday said no matter how much the Opposition parties try to disrupt Parliament proceedings during the ongoing Monsoon Session and stall the development, the “country cannot become hostage to such selfishness and politics”.

“No matter how much some people (Opposition) try to disrupt Parliament proceedings and stall the development of the country, our country cannot become hostage to such selfishness and politics,” said the Prime Minister.
The Prime Minister was speaking at an interactive session with the beneficiaries of ‘Pradhan Mantri Garib Kalyan Anna Yojana’ in Uttar Pradesh via video-conference.

Earlier on Thursday, slamming Congress for disrupting the ongoing Monsoon session, BJP leader Ravi Shankar Prasad alleged that the Congress’ intention is to let the Houses function only “if the Parliament subserves the interest of their Parivar”.

Referring to the several adjournment motions and stalemates in the Parliament, Prasad said the exchequer has suffered a loss of Rs 130 crores during the disruptions.

The business of both the Houses of the Parliament remained majorly disrupted due to the continuous ruckus created by the Opposition over the issues including farmers’ protest, Pegasus spyware, COVID-19 and inflation.

The Monsoon Session commenced on July 19 and is scheduled to continue till August 13. (ANI)

Seems like it is a ‘throwback Thursday’ for Bollywood superstar Deepika Padukone as she shared a montage of her childhood pictures for fans on social media with a hilarious twist in it.

Taking to her Instagram handle, Deepika shared a snippet from one of her interviews, in which she could be heard telling “For as long as I remember, I have always been that student or child, who wanted to do things outside of classroom.”
The clip further continues to show a montage of Deepika’s childhood memories featuring the things she did “outside of the classroom”- the glimpses of her from school plays, with a trophy for winning a sports competition and more.

Sharing the video, she wrote, “Outstanding Student Indeed…!”

For the unversed, Deepika was badminton like her athlete father Prakash Padukone before she stepped into the glamour industry at the age of 16. The actor made her Bollywood debut in 2007 alongside megastar Shah Rukh Khan in the Farah Khan directorial movie ‘Om Shanti Om’.

Leaving a strong imprint in each one of her fans with her exemplary persona, Deepika thrived to be one of the highest-paid female actors in India. With her impeccable journey in the cinema industry, she made her way to an international platform and bagged a role in the American action drama xXx: Return of Xander Cage.

Meanwhile, on the film front, Deepika will be seen next in Shakun Batra’s yet-to-be-titled film.

The actor also has an impressive line-up of projects in the pipeline including ’83’, ‘Baiju Bawra’, ‘Fighter’, ‘Sanki’, ‘Pathan’, and ‘K’, which is the Indian adaptation of Nancy Meyers’s 2015 hit Hollywood film ‘The Intern’, and will also feature megastar Amitabh Bachchan. (ANI)

India men’s hockey skipper Manpreet Singh on Thursday dedicated the bronze medal win at the ongoing Tokyo Olympics to all the COVID-19 warriors who have been working to save lives during the pandemic.

It took 41 years, but the dream of every Indian was finally realised on Thursday as the men’s hockey team beat Germany 5-4 to win the bronze medal here at the Oi Hockey Stadium — North Pitch.

“And, now the long waiting dream has been fulfilled. This was a collective effort, from all the players, coaches and support staff. Their unrelenting backing has resulted in a positive outcome today. I dedicate this victory to the COVID warriors, who have been working relentlessly to save lives. This medal came after 41 long years and I’m confident that my team will continue to improve and perform better in the upcoming events also,” Manpreet said in a statement on Twitter.

“At the end, a gratitude to our Prime Minister Narendra Modi ji, Ministry of Sports, Hockey India, SAI, 10A, Punjab Police for the constant support and motivation towards the National Hockey Team,” he added.

The Men in Blue showed absolute resilience, strength, and winning spirit to register a remarkable comeback win against a strong German team.

Minutes after the Indian men’s hockey team won the bronze medal, Prime Minister Narendra Modi spoke to skipper Manpreet Singh and coach Graham Reid and said the hard work put in by them over the months had finally paid off.

“Many many congratulations to you and the entire team, you have made history. The entire country is filled with joy. Your hard work has paid off. You have done a lot of hard work, please wish the entire side on my behalf. The entire country is happy, congratulations coach Reid, you have created history. My best wishes are with you,” PM Modi was heard saying to Manpreet and Reid in a video posted on the official Twitter handle of SAI Media. (ANI)

A host of Bollywood celebrities and fans have taken to social media to wish actor Kajol on her birthday.

Actor Ajay Devgn posted a happy picture of himself with his wife Kajol, saying she always brings a smile to his face.

“You have managed to bring a smile to my face for the longest time now…Happy birthday dearest Kajol, will try to make it as special as you are rose,” he wrote on Twitter.

Kajol’s younger sister Tanishaa Mukerji, too, penned an adorable post for the birthday girl.

“Happy birthday my phenomenal woman. May you always receive the kind of love you give,” she posted on Instagram.

Kajol’s reel life sister Kareena Kapoor Khan also wished the former on her 47th birthday.

Taking to Instagram Story, Kareena posted a still of the two from their hit song ‘Bole Chudiyan’ from the movie ‘Kabhi Khushi Kabhie Gham’.

“Happy birthday to the loveliest Kajol,” Kareena captioned the image.

Actor Anushka Sharma extended birthday greetings to Kajol on Instagram Story.

“Happy birthday Kajol. Wish you a magical one,” she wrote.

Actor-director Renuka Shahne called Kajol her ‘dearest angel’ while wishing her a happy birthday on Instagram.

“Happy happy birthday @kajol my dearest angel ( in Devil’s clothes? Perhaps as long as the Devil’s wearing Manish Malhotra, Ana Singh, Ritu Kumar) Have a terrific year full of love, joy, family time, you- time. Be blessed always and slay it in your unique unfiltered, unfettered style. You are unstoppable!!! Loads of unconditional love,” she posted.

Kajol has been entertaining the audience with her acting since 1992. ‘Dilwale Dulhaniya Le Jayenge’, ‘Kuch Kuch Hota Hai’, ‘Gupt: The Hidden Truth’, ‘Baazigar’, ‘Kabhi Khushi Kabhie Gham’ and ‘Fanaa’ are some of her remarkable movies to date. (ANI)

Actor Aadar Jain received a plethora of heartfelt wishes as he turned a year older on Thursday. However, it was his lady love Tara Sutaria’s wish that created a buzz on social media.

Taking to her Instagram handle, Tara shared an unseen close-up picture of Aadar in which he can be seen raising the temperature with his charming looks.

Sharing the picture, the ‘Student Of The Year 2’ actor wrote, “Happy birthday, my light,” along with heart emoticons in the caption.

The ‘Hello Charlie’ actor was quick to reply back to his lady love on Instagram. In the comments section of Tara’s post, he wrote, “I love you, sunshine girl.”

The rumours of Tara Sutaria and Aadar Jain’s relationship started doing the rounds when the duo was spotted multiple times on various occasions together.

The couple confirmed their relationship after Tara joined Aadar’s brother Armaan Jain’s wedding.

Tara made her relationship Instagram official with Aadar after she posted a loved-up picture of them with a heartfelt message on his birthday last year.

Meanwhile, on the work front, Aadar Jain was last seen in Excel Entertainment’s comedy film ‘Hello Charlie’.

On the other hand, Tara Sutaria is currently shooting for ‘Ek Villain Returns’ and ‘Heropanti 2’. She also has ‘Tadap’ with veteran actor Suniel Shetty’s son Ahan Shetty in the pipeline. (ANI)

As the Indian men’s hockey team won a bronze medal in the ongoing Tokyo Olympics on Thursday, Prime Minister Narendra Modi spoke to skipper Manpreet Singh and coach Graham Reid and congratulated the side on the remarkable accomplishment.

PM Modi also spoke to assistant coach Piyush Dubey. During the telephonic conversation, PM Modi told Manpreet that the entire side had scripted history.
He also pointed out how Manpreet’s voice is loud and clear as compared to his voice when PM Modi last spoke to him following the defeat against Belgium in the semi-finals.

After speaking to PM Modi, Manpreet thanked the Prime Minister for his encouragement throughout.

It took 41 years, but the dream of every Indian was finally realised on Thursday as the men’s hockey team beat Germany 5-4 to win the bronze medal here at the Oi Hockey Stadium — North Pitch.

The Men in Blue showed absolute resilience, strength, and winning spirit to register a remarkable comeback win against a strong German team.

The German team got off the block very quickly in the first quarter after the Indian defence was caught napping. Timur Oruz scored past Sreejesh from the scramble in the D. The European team continued with their relentless pressure and got series of penalty corners which the Indian defence withheld brilliantly during the dying moments of the first fifteen minutes.

Graham Reid’s men responded well in the second quarter as the team scored a brilliant field goal from the counterattack. Nilakanta found Simranjeet with a long ball into the D and he finished the move brilliantly on the turn. Germany soon regained their lead from the goal by Wellen on the counter. After that, the floodgates of goals opened for both teams as Furk capitalised on the error of Surender to give Germany a 3-1 lead in the game.

India again came back in the game as Hardik Singh pounced on Harmanpreet’s drag-flick to peg the Germans one back. In the dying moments of the first half, Harmanpreet Singh again came clutch for India with his superb drag-flick to level the match 3-3.

The second half started with a bang for the Men in Blue as Rupinder Pal Singh converted a penalty stroke and in the preceding phase, Germany lost their referral too. For the fifth goal for India, Gurjant beautifully outran the German defender on the right flank to find Simranjeet in the center as he scored his second of the match.

In the fourth quarter of the match, Windfeder converted the PC as he smashed the ball through the legs of Sreejesh and reduced the lead of India by one goal. But Indian defenders made sure they gave no chance to the German team to create any upset as they saw the match through with that one-goal lead. (ANI)