Vivad se Vishwas scheme 2.0:
THE GOVERNMENT has notified October 1 as the starting date for direct tax dispute resolution scheme Vivad Se Vishwas 2.0.
Vivad Se Vishwas scheme 2.0 was originally announced in Budget 2024-25 presented in July for resolution of certain income tax disputes pending appeal.
Around 2.7 crore direct tax demands totalling about Rs 35 lakh crore are being disputed at various legal forums.
Finance Minister Nirmala Sitharaman in her Budget speech
had said that the government will continue its efforts to simplify taxes, improve taxpayer services, provide tax certainty and reduce litigation while enhancing revenues.
The scheme can be availed by
taxpayers who have disputes/ap- peals, including writs and special leave petitions(appeals) whether filed by the taxpayer or the tax au- thorities are pending as on July 22, - 2024 before the Supreme Court, high courts, Income Tax Appellate Tribunal, Commissioner/Joint Commissioner (Appeals). It would also include cases pending before Dispute Resolution Panel (DRP) and revision petitions pending before the Commissioner of Income Tax.
THE GOVERNMENT has notified October 1 as the starting date for direct tax dispute resolution scheme Vivad Se Vishwas 2.0.
Vivad Se Vishwas scheme 2.0 was originally announced in Budget 2024-25 presented in July for resolution of certain income tax disputes pending appeal.
Around 2.7 crore direct tax demands totalling about Rs 35 lakh crore are being disputed at various legal forums.
Finance Minister Nirmala Sitharaman in her Budget speech
had said that the government will continue its efforts to simplify taxes, improve taxpayer services, provide tax certainty and reduce litigation while enhancing revenues.
The scheme can be availed by
taxpayers who have disputes/ap- peals, including writs and special leave petitions(appeals) whether filed by the taxpayer or the tax au- thorities are pending as on July 22, - 2024 before the Supreme Court, high courts, Income Tax Appellate Tribunal, Commissioner/Joint Commissioner (Appeals). It would also include cases pending before Dispute Resolution Panel (DRP) and revision petitions pending before the Commissioner of Income Tax.
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National Mission on Edible Oils
Approved by Union Cabinet.
The Mission will be implemented over a seven-year period, from 2024-25 to 2030-31, with a financial outlay of Rs 10,103 crore. The mission focuses on
1. Enhancing the production of key primary oilseed crops such as Rapeseed-Mustard, Groundnut, Soybean, Sunflower, and Sesamum
2. Increasing collection and extraction efficiency from secondary sources like Cottonseed, Rice Bran, and Tree Borne Oils
3. Targets to increase domestic edible oil production to 25.45 million tonnes by 2030-31 meeting around 72% of our projected domestic requirement. This will be achieved by promoting adoption of high-yielding high oil content seed varieties, extending cultivation into rice fallow areas, and promoting intercropping.
4. Over 600 Value Chain Clusters will be developed across 347 unique districts which will be managed by value chain partners such as FPOs, cooperatives, and public or private entities
5. The Mission will harness ongoing development of high-quality seeds by using cutting-edge global technologies such as genome editing.
6. The Mission aims to significantly enhance domestic oilseed production, advancing the goal of Atmanirbharta (self-reliance) in edible oils, thereby reducing import dependency and conserving valuable foreign exchange while boosting farmers' incomes.
7. It will also accrue significant environmental benefits in the form of low water usage and improved soil health and making productive use of crop fallow areas.
Note: Presently the country is heavily reliant on imports which account for 57% of its domestic demand for edible oils.
Approved by Union Cabinet.
The Mission will be implemented over a seven-year period, from 2024-25 to 2030-31, with a financial outlay of Rs 10,103 crore. The mission focuses on
1. Enhancing the production of key primary oilseed crops such as Rapeseed-Mustard, Groundnut, Soybean, Sunflower, and Sesamum
2. Increasing collection and extraction efficiency from secondary sources like Cottonseed, Rice Bran, and Tree Borne Oils
3. Targets to increase domestic edible oil production to 25.45 million tonnes by 2030-31 meeting around 72% of our projected domestic requirement. This will be achieved by promoting adoption of high-yielding high oil content seed varieties, extending cultivation into rice fallow areas, and promoting intercropping.
4. Over 600 Value Chain Clusters will be developed across 347 unique districts which will be managed by value chain partners such as FPOs, cooperatives, and public or private entities
5. The Mission will harness ongoing development of high-quality seeds by using cutting-edge global technologies such as genome editing.
6. The Mission aims to significantly enhance domestic oilseed production, advancing the goal of Atmanirbharta (self-reliance) in edible oils, thereby reducing import dependency and conserving valuable foreign exchange while boosting farmers' incomes.
7. It will also accrue significant environmental benefits in the form of low water usage and improved soil health and making productive use of crop fallow areas.
Note: Presently the country is heavily reliant on imports which account for 57% of its domestic demand for edible oils.
The Union Cabinet extended the “classical language” tag to Marathi, Pali, Prakrit, Assamese, and Bengali. Tamil, Sanskrit, Telugu, Kannada, Malayalam, and Odia already enjoy this status.