Page 16 - Banking Finance October 2020

ROUNDUP

change (NSE) for investing in six com- nomic growth as the business activities meant to identify an extensioncum-
panies unrelated or non-incidental to are unlocking gradually and despite training programme to be taken up by
the stock exchange business without adverse impact of Covid-19, there are the Indian Council of Agricultural Re-
approval from the capital markets indicators of economic recovery," search through Krishi Vigyan Kendras,
regulator. added Pandey. State agriculture departments, and
The exchange invested in Power Ex- On GST collections, Pandey said some others.
change India (PXIL), Computer Age major industrial States have shown
Management Systems (CAMS), NSEIT, positive growth percentage in collec- Information on GST re-
NSDL E-Governance Infrastructure tions which is indicative of the process turns to be included in
(NEIL), Market Simplified India (MSIL) of economic recovery being on track.
and Receivables Exchange of India Form 26AS
(RXIL). Natural farming set to get Information on GST returns will appear
The NSE held 25-100 per cent stakes a policy push in an income tax statement form
in these entities through its subsidiary called Form 26AS. Experts feel this will
The government is exploring ways and ensure better compliance and curb tax
NSE Investments without the Sebi ap-
means to promote natural farming in evasion.
proval as of September.
the country, with the NITI Aayog hold- "The Central Board of Direct Taxes
Record 26.19 lakh e-Way ing a high-level consultation to de- (CBDT) authorises the Principal Direc-
velop a systematic approach for adopt- tor General of Income-tax (Systems) or
bills generated on Septem- ing and implementing eco-friendly the Director General of Income-tax
ber 30 farming. Natural farming is said to (Systems) to upload information relat-
have several socioeconomic and envi-
A record 26.19 lakh e-Way bill was ing to GST returns, which is in his pos-
generated on September 30 and this ronmental benefits for boosting farm- session, in the Annual Information
was the highest ever count so far on a ers' welfare, consumer health, food Statement in Form 26AS, within three
single day. security and nutrition. months from the end of the month in
Data about record e-Way bill genera- Agriculture Minister Narendra Singh which the information is received by
Tomar said the Ministry has set aside him," an order by the CBDT said. Fur-
tion came on a day when the Finance
Ministry reported GST collection turn- funds to propagate natural farming. ther, it was mentioned that the Princi-
ing positive on a yearly basis for the first He also said proposals for talking up pal DG/DG (System) will specify the
time in the current fiscal. GST collec- natural farming have been received procedures, formats and standards for
tion in September surged to Rs. 95,480 from Andhra Pradesh, Chhattisgarh the purposes of uploading of Annual
crore, which is 4 per cent higher than and Kerala and are under active con- Information Statement in Form 26AS.
figure of the corresponding month last sideration. Form 26AS is an annual consolidated
fiscal and 10 per cent higher than Similarly, Gujarat plans to bring about income tax credit statement. It helps
mobilisation in August. 112 lakh hectares under natural farm- the taxpayer to ascertain the tax de-
Finance Secretary Ajay Bhushan ing over the next five years, said State ducted and the advance tax paid dur-
Pandey said: "This is Ajay Bhushan Governor Acharya Devvrat, who par- ing the year and match with the tax
Pandey, Finance Secretary the third ticipated in the consultation. As of deposited as per the tax department's
day in this year when the e-Way bills now, approximately 1.20 lakh farmers records.
have been generated to mark a record in Gujarat adopted natural farming Now, one can directly import the Form
count. Before September 30, on Feb- during the ongoing kharif season and 26AS information, while filing Income
ruary 29 this year 25.19 lakh e-way bills another 5.50 lakh farmers have evinced Tax Returns. The form can directly be
were generated while on January 31 interest in the practice. accessed through net banking facility
around 24.74 lakh e-Way bills were Apart from developing a systematic or through efiling website of the In-
generated." approach to help adopt natural farm- come Tax Department (https://
"These are affirmative signs of eco- ing at farm level, the consultation was incometaxindiaefiling.gov.in). T

16 | 2020 | OCTOBER | BANKING FINANCE