Page 17 - Banking Finance August 2024

ROUNDUP

Speaking to PTI, the head of the direct Double toll fee for vehicles
taxes administration in the country Attention Subscribers
said that a "substantial" number of with no FASTag on wind- Please renew your Subscription of The
income tax appeals are logged at the shield Insurance Times Journal to receive
appellate stage in different forums and To deter National Highway users from copy of the journal uninterruptedly.
it is expected that a "reasonable" deliberately not fixing FASTag on the
number of taxpayers will avail the new windscreen of the vehicle, NHAI has You can now pay by GPAY, Phonepe,
scheme. issued guidelines to collect double user Paytm, Amazon, ICICI Pay, BHIM UPI
fee from such users entering the toll
The first 'Vivad se Vishwas' scheme for
cases under the direct taxes or income lane with non-affixed FASTag on the
front windshield from the inside, an
tax category was brought out by the official release said.
government in 2020 and, according to
NHAI said deliberate non-affixation of
the CBDT chief, it was "quite success-
FASTag on the windscreen leads to
ful" with about Rs 75,000 crore rev-
enue being garnered and about a lakh unnecessary delays at the toll plazas
causing inconvenience to fellow Na-
taxpayers availing the scheme.
tional Highway users.
Defence ministry notifies "Detailed Standard Operating Proce-
dures (SOP) has been issued to all User
fifth indigenisation list Fee Collection Agencies and Conces-

Move aims to boost Aatmanirbhar in sionaires to charge double user fee in
defence production and minimising case of non-affixation of FASTag on the
front windshield," it said.
imports by defence public sector under-
takings (DPSUs), the Ministry of De-
fence (MoD) has notified a fifth posi- Centre relaxes Corporate
tive indigenisation list (PIL) comprising disclosure regime
346 defence items. In a much-required revamp of corpo-
The MoD has ordered that "these rate disclosures, the government has
items will only be procured from the simplified the reporting process for
Indian industry after the timelines of companies on unclaimed dividends,
indigenisation as indicated in the list deposits and share application refunds- Sashi Publications Easy Payment
available on the MoD's Srijan portal." a move that will also further smoothen Modes :-
the claim process for investors. i) UPI ID: SASHIBOOKS@KOTAK
A PIL is expected to provide assurance
To reduce the compliance burden on ii) GPAY: 9830171022@okbizaxis
to the domestic defence industry,
which has frequently burned its fingers companies, the ministry of corporate iii) PAYTM: 9830171022@paytm
by expending the money and effort on affairs (MCA) in a recent order simpli- iv) NEFT: Current A/C
fied how businesses need to report the 402120110000327 of 'SASHI
developing a defence product. It led to transfer of unclaimed dividends and
the MoD importing them from the glo- PUBLICATIONS PRIVATE
underlying shares to a fund maintained
bal market instead. LIMITED, Bank of India, VVK
by the Investor Education and Protec- Road Branch., Kolkata, India,
The MoD had launched the Srijan por- tion Fund Authority (IEPFA).
IFSC Code : BKID0004021
tal in 2020. It provides a forum for For investors and their heirs, the gov-
DPSUs and service headquarters (SHQs) ernment is working on a platform that v) Credit Card:
to offer defence items for will allow them to search the database www.sashipublications.com
indigenisation to private industries. to see if amounts owed to them by For any query please call
They include micro, small and medium companies are lying with the Investor 9073791022/9883398055
enterprises (MSMEs) and startups. Education and Protection Fund. www.sashipublications.com

16 | 2024 | AUGUST | BANKING FINANCE