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Girl Power! Over 800 Women compete in car Rally ahead of International Women’s Day in Mumbai

A picnic-like atmosphere reigned at Hotel Sahara where the flag-off took place at 8 a.m.

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Women rally in India, Wikimedia

Mumbai, March 5, 2017: Mumbai witnessed girl power at its brightest and strongest as over 800 ladies turned up to compete in an all-womens car rally here on Sunday.

A picnic-like atmosphere reigned at Hotel Sahara where the flag-off took place at 8 a.m. as one after the other over 260 freshly painted and decorated cars set off on their 150-kilometre quest for glory, according to a release.

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In a unique gesture, most of the participants used the occasion to send out their messages to the society, with women’s empowerment as the most common theme. ‘One girl with courage is a revolution’ screamed one message; ‘To hell with sugar n spice’ said another, ‘we are all about talent, commitment, guts, toughness’ it added.

Interestingly, demonetisation was another popular theme with a number of colours painted in the colours of the new 2000-rupee note. Pink and green were the most common colours while a brave young girl turned her car into a chariot, with five stallions painted on her bonnet.

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The rally, organised by Western India Automobile Association (WIAA) for the third year in succession to mark International Women’s Day, is primed to create road safety awareness for ladies and is blessed by the FMSCI, the parent body for motor sports in the country.

The winners will be felicitated at a grand awards function on March 8, International Women’s Day. (IANS)

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Income Tax Officers Announce 17-point Checklist to Track Unaccounted Cash During Demonetisation

I-T Dept issues 17-point checklist to trace unaccounted DeMO cash

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income tax
Examination will take place of cash deposits from period April 2015 to November 8, 2016. Pixabay

In a bid to seize illegal cash, the Income Tax Department has issued a 17-point checklist to tax commissioners across the country to track those who deposited unaccounted cash during demonetisation.

In a directive to the Principal Chief Commissioners of Income Tax and Principal Director Generals of Income Tax, the Central Board of Direct Taxes (CBDT) said that in continuation of the handling of cases related to demonetisation, a verification checklist of cash deposits has been prepared to assist the assessing officers so that deviant cases can be taken up for further study.

The CBDT move is aimed at spreading the department’s net wide and deep to catch those who deposited unaccounted cash during demonetisation.

In this latest directive to tax officers, a 17-point checklist has been created, which has to be updated on the department’s server for further action. All unaccounted cash deposits made between November 9, 2016, and December 31, 2016, will be examined as part of this plan.

The checklist also says that if a taxpayer disputes the amount, the correct amount has to be mentioned after checking with the bank.

The particulars in the checklist are — return filing compliance, the total income of the taxpayer in 2016-17, gross total income (including exempt income) of the taxpayer in FY 2016-17 and percentage of cash deposit to gross total income (including exempt income).

IT Officers
This move is aimed to catch those who deposited unaccounted cash during demonetisation. Pixabay

The assessing officers will have to check on the checklist with regard to the nature of deposit on assessment of the explanation provided by the taxpayer and the quantum of unaccounted deposits as determined by the assessing officers.

On the response side, they have to file if the explanation was acceptable, partially acceptable or not acceptable. The nature of the deposit option could be sale or advance for sale of land or any other capital asset, gift, repayment of loan and cash in hand.

Some other verification checkpoints are whether the quarterly VAT return is revised in the post-demonetisation period, if small part of the cash is deposited in or withdrawn from the bank despite having huge cash in hand, if there are large changes in the purchase and sales figures between the original and the revised VAT returns and if the changes are for genuine reasons.

The assessment procedures as per the checklist are — if the books of the accounts have been rejected, if additions have been made u/s 68 to 69D and if tax is calculated as per section 115BBE and if penalty u/s 271AAC has been levied.

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On November 8, 2016, the Government of India had announced demonetisation of all Rs 500 and Rs 1,000 banknotes. Pixabay

The examination of monthly cash sales and cash deposits lists the period from April 2015 to November 8, 2016.

Also Read: Gold Price May Increase to Rs 40,000 per 10 Gram by Diwali

On November 8, 2016, the Government of India had announced demonetisation of all Rs 500 and Rs 1,000 banknotes. It also announced the issuance of new Rs 500 and Rs 2,000 banknotes. (IANS)