THE OLD SETTLERS OF SIKKIM....................e.newsletter of the old settlers living in Sikkim prior to its merger with India who have a history of 130 years in Sikkim: .....Editor: S K Sarda
Friday, September 28, 2012
CBDT, under Section 119 (sub-section 2a and 2b) of the I-T Act, and Section 234 B (d) dealing with waiver of interest, has the power to grant relief to a class of taxpayers. The board has in the past used these powers to waive penalty and interest, and allowed just the payment of tax in installments to remove hardship due to any retrospective change in tax law.
End to Vodafone tax row in sight as interest, penalties on retrospective tax may go
End to Vodafone tax row in sight as interest, penalties on retrospective tax may go
28 SEP, 2012, 07.39AM IST, DEEPSHIKHA SIKARWAR,ET BUREAU
The country's apex direct taxes body is likely to moot a proposal to exempt companies caught in the controversial retrospective tax net from paying interest and penalties, potentially paving the way for a settlement with Vodafone in the multi-billion-dollar tax dispute.
A senior I-T official said the Central Board of Direct Taxes (CBDT) is considering issuing a circular to waive off interest and penalty on the outstanding tax liabilities of such 'taxpayers'. "A proposal to this effect is likely to be taken to the finance minister for final clearance," he said. The official said a decision will be taken by Finance Minister P Chidambaram after the Parthasarthi Shome-headed panel, examining the retrospective tax amendment issue, submits its report on Monday.
While the waiver will benefit at least half-a-dozen companies, the biggest beneficiary will be Vodafone. Under the retrospective tax amendment introduced this year, the UK-based telecom company is liable to pay over. Rs 20,000 crore to income-tax authorities for not withholding tax on the $11.2-billion payment it made to Hutchison Whampoa for acquiring Hutchison Essar in 2007 through an overseas transaction. If the interest and penalty are deducted, the tax liability will drop to . Rs 8,000 crore.
CBDT, under Section 119 (sub-section 2a and 2b) of the I-T Act, and Section 234 B (d) dealing with waiver of interest, has the power to grant relief to a class of taxpayers. The board has in the past used these powers to waive penalty and interest, and allowed just the payment of tax in installments to remove hardship due to any retrospective change in tax law.
Government has Softened its Stand
For instance, during Chidambaram's stint as finance minister in UPA's first term, when Section 80 HHC was amended in 2005 and applied retrospectively from 1998-99, the CBDT had issued a circular to exempt interest and penalty and also allowed taxpayers to pay the amount over five years.
Tuesday, September 25, 2012
HUMAN RIGHTS ORGANISATION- PL RISE UP
OUR SALUTE TO THE INDIAN ARMY
Lt. Saurabh Kalia of 4 JAT Regiment of the Indian Army laid down his life at the young age of 22 for the nation while guarding the frontiers at Kargil. His parents, indeed the Indian Army and nation itself, lost a dedicated, honest and brave son. He was the first officer to detect and inform about Pakistani intrusion. Pakistan captured him and his patrol party of 5 brave men alive on May 15, 1999 from the Indian side of LOC. They were kept in captivity for three weeks and subjected to unprecedented brutal torture, evident from their bodies handed over by Pakistan Army on June 9, 1999. The Pakistanis indulged in dastardly acts of inflicting burns on these Indian officers with cigarettes, piercing their ears with hot rods, removing their eyes before puncturing them and breaking most of the bones and teeth. They even chopped off various limbs and private organs of the Indian soldiers besides inflicting unimaginable physical and mental torture.
After 22 days of torture, the brave soldiers were ultimately shot dead. A detailed post-mortem report is with the Indian Army. Pakistan dared to humiliate India this way flouting all international norms.
They proved the extent to which they can degrade humanity. However, the Indian soldiers did not break while undergoing all this unimaginable barbarism, which speaks volumes of their patriotism, grit, determination, tenacity and valour - something all of India should be proud of.
Sacrificing oneself for the nation is an honour every soldier would be proud of, but no parent, army or nation can accept what happened to these brave sons of India. I am afraid every parent may think twice to send their child in the armed forces if we all fall short of our duty in safeguarding the PRISONERS OF WAR AND LET THEM MEET THE FATE OF LT.SAURABH KALIA.
It may also send a demoralising signal to the army personnel fighting for the Nation that our POWs in Pak cannot be taken care of.
It is a matter of shame and disgust that most of Indian Human Rights Organisations by and large, showed apathy in this matter.
Through this humble submission, may I appeal to all the civilized people irrespective of colour, caste, region, religion and political lineage to stir their conscience and rise to take this as a NATIONAL ISSUE !!!
International Human Rights Organizations must be approached to expose and pressure Pakistan to identify, book and punish all those who perpetrated this heinous crime to our men in uniform. If Pakistan is allowed to go unpunished in this case, we can only imagine the consequences.
Below is the list of 5 other soldiers who preferred to die for the country rather than open their mouths in front of enemy -
1. Sep. Arjun Ram s/o Sh. Chokka Ram; Village & PO
Gudi. Teh. & Dist.
Nagaur, (Rajasthan)
2. Sep. Bhanwar Lal Bagaria h/o Smt. Santosh Devi;
Village Sivelara;Teh.&
Dist.Sikar (Rajasthan)
3. Sep. Bhikaram h/o Smt. Bhawri Devi; Village
Patasar; Teh.
Pachpatva;Distt.Barmer (Rajasthan)
4. Sep. Moola Ram h/o Smt. Rameshwari Devi; Village
Katori; Teh. Jayal;Dist.
Nagaur(Rajasthan)
5. Sep. Naresh Singh h/o Smt. Kalpana Devi; Village
Chhoti Tallam;
Teh.Iglab; Dist.Aligarh (UP)
Yours truly,
Dr. N.K. Kalia (Lt.. Saurabh Kalia's father).
Saurabh Nagar,
Palampur-176061
Himachal Pradesh
Tel: +91 (01894) 32065 a
Saturday, September 22, 2012
TDS & Tax Rate on Interest Income of Non-Resident redued to 5% from 20%
Interest Income of a Non-Resident Investor to be
taxed at the reduced rate of 5 per cent instead of the existing rate of 20 per
cent and withhold Tax on such Income to be also at the Reduced Rate of 5 per
cent
Section 194LC of the Income-tax Act, 1961
– Income by way of Interest from Indian Company – Approval of loan agreements/long term infrastructure bonds and
rate of interest for the purpose
of Section 194LC
CIRCULAR NO. 7/2012 [F.No. 142/17/2012-SO(TPL)],
dated 21-9-2012
The Finance Act, 2012 has introduced section
194LC in the Income Tax Act. This section provides for lower withholding tax at the rate of 5% on interest payments by Indian companies
on borrowings made in foreign currency by such companies from a source outside
India. There are principally two modes of borrowing (referred to as “monies
borrowed” in the said section) which are covered, subject to approval of the
Central Government:
a. Monies borrowed under a loan agreement
b. Long term Infrastructure Bonds
2. It is further provided that
the rate of interest on such borrowings, for the
purpose of eligibility under the section 194LC, shall be as approved by the
Central Government.
3. The lower rate of
withholding tax is for monies borrowed or bonds issued
during the period from 1-7-2012 to 30-6-2015.
4. Therefore, the approval of
the Central Government is required in respect of both the
loan agreement or bond issue and the
rate of interest to be paid on such borrowings.
5. Considering the fact that
there would be a large number of cases of overseas borrowings or bond issues to
be undertaken by Indian companies, providing a mechanism involving approval in
each and every specific case would entail avoidable compliance burden on the
borrower/issuer of bond. In order to mitigate the compliance burden and
hardship, the Central Board of Direct Taxes [with the approval of Central
Government] hereby conveys the approval of Central Government for the purposes
of section 194LC in respect of the loan agreements and
issue of long term infrastructure term bond by Indian companies which satisfy
the conditions mentioned in paras A, B and C below: -
A. In respect of agreements for
loan
a. The borrowing of money should be
under a loan agreement.
b. The monies borrowed under the
loan agreement by the Indian company should comply
with clause (d) of sub-section (3) of section 6 of the Foreign Exchange Management Act, 1999 read with
Notification No. FEMA3/2000-RB
viz. Foreign Exchange Management (Borrowing
or Lending in Foreign exchange) Regulations 2000,
dated May 3, 2000, as amended from time to time, (hereafter referred to as “ECB
regulations”), either under the automatic route or under the approval route.
c. The borrowing company should have
obtained a Loan Registration Number (LRN) issued by the Reserve Bank of India
(RBI) in respect of the Agreement.
d. No part of the borrowing has taken
place under the said agreement before 1st July, 2012.
e. The agreement should not be
restructuring of an existing agreement for borrowing in foreign currency solely
for taking benefit of reduced withholding tax rates.
f. The end use of the funds and other
conditions as laid out by the RBI under ECB regulations should be followed
during the entire term of the loan agreement under
which the borrowing has been made.
B. In respect of issue of
Bonds
a. The bond issue by the Indian
company should be authorized under ECB regulations either under the automatic
route or under the approval route.
b. The bond issue should have a
loan Registration Number
issued by the RBI.
c. The term “long term” means that
the bond to be issued should have original maturity term of three years or
more.
d. The bond issue proceeds should be
utilized in the “infrastructure sector” only.
e. The term “infrastructure sector”
shall have same meaning as is assigned to it by RBI under the ECB
regulations.
C. Rate of
interest
Further, the Central Government has also approved
the interest rate for the purpose
of section 194LC as any rate of interest which is within the All-in-cost
ceilings specified by the RBI under ECB regulations as is applicable to the
borrowing by loan agreement or through a bond issue,
as the case may be, having regard to the tenure thereof.
6. In view of the above, any
loan agreement or bond issue, which satisfies the
above conditions, would be treated as approved by the Central Government for the
purposes of section 194LC.
7. In the case of other
long-term Infrastructure Bonds where the Indian company receives subscription of
such Bonds in foreign currency and such bond issue is not covered under ECB
regulations, the approval, for purpose of section 194LC shall be on case to case
basis.
8. The Indian company, for the
purpose of obtaining the necessary approval u/s 194LC in respect of such
long-term bond issue, may, therefore, apply in writing to Member (IT), Central Board of Direct Taxes
with the relevant details of the purpose, period and rate of
interest.
Wednesday, September 12, 2012
Tax deduction on Interest income
by Balwant Jain, CFO, Apnapaisa.com
Many of us keep our money either with banks or with cooperative credit societies, be it in fixed deposits or recurring deposits or in saving accounts. Not only this, we also invest in various Government run schemes like NSC, PPF and Senior Citizen Saving schemes. While making these investments everyone wants to plan these investments in such a manner so that no TDS (Tax Deducted at Source) is effected on our interest income.
In this article I shall discuss the various provisions related with TDS on such interest income which can help you understand when tax will be deducted and when you will get your interest without deduction of TDS.
No deduction of tax on interest income without any limit
As per the provisions of Income Tax Act, there are certain investments/deposits on which no tax is required to be deducted without any limit of the amount of such interest. Tax is not deducted on any interest paid on any savings account or deposit in any of your recurring deposit account, be it with any bank, or Co-operative credit society or Cooperative bank. Even in case of any cooperative society any interest paid to its share holders, the Cooperative society does not have to deduct any TDS whatever be the quantum of interest. In addition to the above no TDS is required to be deducted by the post office on any interest paid on any deposit with post office like saving accounts, recurring deposits, fixed deposits or monthly scheme schemes. Likewise no TDS is applicable on various saving certificates like Kisan Vikas Patra and Indira Vikas Patra. Since interest on PPF account is exempt from tax, hence it is not subject to any TDS.
No deduction of Tax upto a limit
Unlike the benefits of no TDS without any limit available on the accounts and schemes discussed above, the Income Tax Act provides the benefit of no deduction of tax at source when the income is within a certain limit. For all the fixed deposit with banks, Credit societies, Cooperative banks etc., the payer will deduct tax at source if the income from such fixed deposit exceeds a limit of Rs. 10,000. Please note that the limit of Rs. 10,000 shall be calculated with reference to interest on aggregate of all the fixed deposits made with the bank. However while calculating the limit of Rs.10,000, each branch shall be treated separately. So if you earn interest less than Rs. 10,000 from each branch of the same bank though your overall interest on fixed deposit maybe higher than the limit of Rs. 10,000, no tax will be deducted by any of the branch. Please note that though no tax is required to be deducted on various deposits with post office or various saving certificates without any ceiling, but there is one exception. In case interest on Senior Citizen Saving Scheme exceeds Rs. 10,000 in a year, the bank or post office will deduct TDS at the rate of 10%.
TDS at higher rates or nil rates
Though the rate of TDS is 10% on such interest income, the Income tax Act provides that a person who is entitled to receive such interest which is subject to TDS can submit form No. 15 G or 15H for no deduction of tax at source. In such cases the bank can pay you interest without deducting any tax from your interest even if the same exceeds the ceiling of Rs. 10,000.
One very important aspect which one needs to keep in mind is that even if you are fine with tax being deducted by the bank from interest being paid to you, even in such case you have to furnish your PAN number to the bank. If you fail to furnish the PAN number, the bank shall deduct tax at the rate of 20% instead of 10% generally applicable.
Even in the case where you are eligible to furnish either form No. 15G or 15 H, you should furnish your PAN number to the bank. If you fail to mention your PAN number in the form no. 15G or 15H, the bank will deduct tax at the rate of 20% so instead of receiving interest without TDS you will be subjected to TDS at the rate of 20%. Please ensure the correctness of the PAN number when you communicate the same to the bank. If the PAN number mentioned by you is found to be incorrect, the bank will be obliged to deduct tax at the rate of 20%
I am sure by now you have become aware of the intricacies of the TDS provisions as applicable to interest, thus you can plan your investment in such a way so as to minimize the incidence of TDS and escape from the hassle of having to claim the refund in case your income is below taxable limit or in cases when you want to receive the income without TDS legitimately for any reason.
Interest under Section 234B/234C is mandatory – SC
sourcre:Tax Guru
The short point involved in the present case is whether levy of interest under Section 234A/234B of the Income Tax Act, 1961, is mandatory or not. At one point of time there was a doubt on the nature of interest payable by the assessee under Section 234A/234B of the Act. That controversy stood finally settled by a Five-Judge Bench decision of this Court in the case of Commissioner of Income-Tax v. Anjum M.H. Ghaswala and Others, [2001] 252 ITR 1. This judgment is binding on us. In the said judgment, this Court held in unequivocal terms that interest under Section 234B/234C is mandatory in nature. In view of the said decision, we are of the opinion that there was no need for the Assessing Officer to specifically recite in the Order of Assessment that penalty proceedings should be initiated, as contended on behalf of the assessee.
SUPREME COURT OF INDIA
Karanvir Singh Gossal
v.
Commissioner of Income-tax
CIVIL APPEAL NO. 1937 OF 2007
SEPTEMBER 6, 2012
ORDER
Heard learned counsel on both sides.
The civil appeal is allowed in terms of the signed order.
No order as to costs.
ORDER
Heard learned counsel on both sides.
The short point involved in the present case is whether levy of interest under Section 234A/234B of the Income Tax Act, 1961, [for short, 'the Act'], is mandatory or not. At one point of time there was a doubt on the nature of interest payable by the assessee under Section 234A/234B of the Act. That controversy stood finally settled by a Five-Judge Bench decision of this Court in the case of Commissioner of Income-Tax v. Anjum M.H. Ghaswala and Others, [2001] 252 ITR 1. This judgment is binding on us. In the said judgment, this Court held in unequivocal terms that interest under Section 234B/234C is mandatory in nature. In view of the said decision, we are of the opinion that there was no need for the Assessing Officer to specifically recite in the Order of Assessment that penalty proceedings should be initiated, as contended on behalf of the assessee.
It is true that at one point of time, prior to the decision in Anjum Ghaswala’s case (supra), there was a conflict of opinion amongst various High Courts in India. One such case was the judgment of Patna High Court in the case of Ranchi Club Ltd. v. Commissioner of Income-Tax and Others, [1996] 222 ITR 44. Against the judgment of the Patna High Court, the civil appeal(s) was dismissed by this Court in the case of Commissioner of Income-Tax and Others v. Ranchi Club Ltd. [2001] 247 ITR 209. However, that dismissal is by a Three-Judge Bench, whereas the judgment of Anjum Ghaswala’s case (supra) is of a Five-Judge Bench of this Court. Be that as it may, the position that emerges after the judgment of this Court in Anjum Ghaswala’s case (supra) is that if interest is leviable in a given case under Section 234B/234C, then in such a case that levy is mandatory and compensatory in nature. The recitation by the Assessing Officer directing institution of penal proceedings is not obligatory and penal proceedings could be initiated for such default without a specific direction from the Assessing Officer. In this particular case we have to follow the judgment in Anjum Ghaswala’s case (supra) in toto. In the said judgment it has been held that in appropriate cases, the Chief Commissioner has an authority to waive the interest. We quote herein below the relevant portion of the judgment in Anjum Ghaswala’s case (supra), which reads as under:
“The learned Solicitor General has pointed out that by virtue of the power vested in the Board under Section 119(2)(a) of the Act, the Board has issued circulars by Notification No. F. No.400/234/95-IT(B), dated May 23, 1996. As per this circular, it has empowered that the Chief Commissioner of Income-tax and Director-General of Income-tax may waive or reduce interest charged under sections 234A, 234B and 234C of the Act in the class of cases or class of incomes specified in paragraph 2 of the said order for the period and on conditions which are enumerated therein. He submitted that in view of the said circular, the same authority can be exercised by the Commission since the said circular would amount to relaxation of the rigour of sections 234A, 234B and 234C of the Act. We are in unison with this submission of the learned Solicitor General. This court in a catena of cases has held that the circulars of the Central Board of Direct Taxes are legally binding on the Revenue : see UCO Bank v. CIT [1999] 237 ITR 889 (SC). Since these circulars are beneficial to assessees, such benefit can be conferred also on assessees who have approached the Settlement Commission under Section 245C of the Act on such terms and conditions as contained in the circular. In our opinion, it is for this purpose that section 245F of the Act has empowered the Settlement Commission to exercise the power of an income-tax authority under the Act. We must clarify here that while exercising the power derived under the circulars of the Board, the Commission does not act as a subordinate to the Board but will be enforcing the relaxed provisions of the circulars for the benefit of the assessee in the process of settlement.
For the reasons stated above, we hold that the Commission in exercise of its power under Section 245D(4) and (6) does not have the power to reduce or waive interest statutorily payable under sections 234A, 234B and 234C except to the extent of granting relief under the circulars issued by the Board under Section 119 of the Act.”
In the present case, the assessee is placing reliance on the Circular issued by the CBDT, which has been referred to and mentioned in the above extracted portion in Anjum Ghaswala’s case (supra). This aspect has not been considered in the present case by the High Court in its impugned order. It has not been considered even by the Tribunal.
For the above reasons, we set aside the impugned orders of the Tribunal as also of the High Court. We direct the Tribunal to consider whether the assessee would be entitled to waiver of interest under the Circular bearing No. 400/234/95-IT(B) dated 23rd May, 1996, which has been referred to by this Court in the case of Anjum Ghaswala (supra).
To this limited extent, the civil appeal stands allowed and the matter is remitted to the Tribunal to decide the question of applicability of the said circular to the facts of this case.
No order as to costs.
Friday, September 7, 2012
Guar Gum Exports From India to Drop on Halliburton Stocks
By Prabhudatta Mishra - Sep 3, 2012 12:27 PM GMT+0530
source blomberg.com
India’s exports of guar gum, a thickening agent used for oil and gas extraction, are poised to drop 20 percent this year as high inventory and a slump in prices cool demand among users including Halliburton Co. (HAL)
Shipments may total 400,000 metric tons in the year that began on April 1, compared with 500,000 tons a year earlier, said P.K. Hissaria, president of the Indian Guar Gum Manufacturers Association. Prices plunged 69 percent to about 30,000 rupees ($539) per 100 kilograms from a record 95,920 rupees in March after India banned futures trading, he said.
Enlarge image
Guar Gum powder. Source: Magnus Manske/Wikipedia
An increase in inventory amid declining demand will pressure prices further, Hissaria said. A nine-fold surge in prices in a year prompted Halliburton, the world’s largest provider of hydraulic-fracturing services, to warn of negative impact on profit margins in April.
“Export queries are less now because oil-services companies built huge inventory fearing that guar gum might not be available,” Hissaria said in a phone interview on Aug. 31. “Since prices have come down, they are not buying and are using their inventory.”
Halliburton’s North American operating profit margin dropped 4.8 percentage points to 20.7 percent in the second quarter compared with the first quarter as the company purchased too much guar gum too early with high prices. “We should not have purchased the extra inventory,” Chief Executive Officer Dave Lesar told said on a conference call on July 24.
Fracking Slows
Halliburton helps companies drill and complete oil and gas wells using a pressure-pumping technique known as fracking, which blasts water mixed with sand and chemicals underground to free trapped hydrocarbons from shale formations. Guar gum, made from beans, is used to blend materials in fracking.
“Fracking activities in shale gas have drastically come down as prices of shale gas have come down,” Hissaria said.
The shale gas boom helped the U.S. meet 81 percent of its energy demand in 2011, the highest level since 1992, according to Energy Department data compiled by Bloomberg. Improved drilling techniques including fracking contributed to record U.S. output. Natural gas prices, which have fallen for four straight years, are 11 percent higher this year on the New York Mercantile Exchange.
Falling prices for fracking work spread to more liquid basins in North America in the second quarter, Paal Kibsgaard, chief executive officer of Schlumberger Ltd. (SLB), the world’s largest oilfield-services provider, said on July 21. Operating profit margins for fracking will continue to fall in the third quarter due to lower prices and more expensive materials, he said. Prices that Schlumberger is bidding for fracking jobs are down about 20 percent from their peak, Kibsgaard said.
Food Emulsifier
Demand may reemerge from late October with the arrival of fresh crop, Hissaria said. Indian processors are running their plants at about 30 percent of the capacity due to lower demand and a lack of seeds, according to the group.
Guar gum, extracted from the seeds of a leguminous plant grown in India, Pakistan and the U.S., is also an ingredient in food emulsifiers, additives and thickeners. India accounts for more than 70 percent of the global seed production, according to the Multi Commodity Exchange of India Ltd.
The area under guar in Rajasthan, Haryana and Gujarat, the biggest producers, increased to 3.53 million hectares (8.7 million acres) as of Aug. 31 from 3.09 million hectares a year earlier, according to government data. Farmers in Rajasthan, which produces 70 percent of the nation’s crop, sowed the crop in 2.75 million hectares after monsoon rains revived in August.
“My initial expectation in April was that the sowing area would be doubled as the weather bureau predicted normal rainfall,” Hissaria said. When the rain arrived after a delay, it was insufficient and dashed predictions, he said.
The rainfall has been 12 percent below a 50-year average since the start of the monsoon season on June 1, according to the India Meteorological Department.
To contact the reporter on this story: Prabhudatta Mishra in New Delhi at pmishra8@bloomberg.net
Bill for special status for six districts in Hyderabad-Karnataka region introduced
source:the Hindu
Amid din in the Lok Sabha on Friday, Home Minister Sushilkumar
Shinde introduced a Bill to amend the Constitution and thus provide a special
status to the Hyderabad-Karnataka region, under a new Article 371 (J), thus
fulfilling the 11-year demand of the people of the area.
Once it is approved by Parliament with two-thirds majority, which
is possible only in the winter session as the monsoon session got washed out,
the Hyderabad-Karnataka region covering six backwards districts – Bidar,
Gulbarga, Koppal, Yadgir, Raichur and Bellary – will get more central funds for
development and will be on par with the Telananga region of Andhra Pradesh.
Besides, there will be reservation in jobs and education for the locals.
“The special provisions aim to establish an institutional
mechanism for equitable allocation of funds to meet development needs of this
region and to enhance human resources and promote employment by providing for
local cadres in service and reservation in educational and vocational training
institutions,” said the objects and reasons appended to the Bill.
There is also a provision to establish a regional council under
the special status.
Thursday, September 6, 2012
A Journey to Dzongu
Wed, 09/05/2012 - 4:03pm
Samir (center) with colleagues during his trip to
Dzongu
Smoke escaping from chimneys wafts over the village
Lepcha culture is rich with stories and traditions – such as the all-night singing festival in which young Lepcha men and women woo their potential mate through songs – and rivers play a central role in many of these stories and in their beliefs. For example, the Lepcha believe that in death, the departed soul travels up the Teesta and Rangyong rivers to the base of Mt. Kanchendzonga, their sacred final resting place.
There are water powered prayer wheels in many Lepcha
villages
The 300 MW Panan Dam is planned for the heart of Dzongu on the Rangyong River. The Lepchas are fighting this project and believe that they have the blessings of their ancestors in doing so: On the day that developers for the Panam project addressed communities who would be displaced by the dam, the Rangyong River experienced a flash flood, without any warning – there was no cloud burst, nor any rain. Was this just coincidence, or could it be something more?
Construction on the Teesta III Dam
Another project that is tearing at the hearts of the Lepcha tribe is the 520 MW Teesta IV Dam – planned for the Teesta River– that forms the eastern boundary of Dzongu Reserve. The Teesta River flows through the length of Sikkim and is considered to be the lifeline of the state. The Teesta IV Dam is planned for the last free-flowing stretch of the Teesta River between Teesta III – currently under construction – and Teesta V, already completed. The proposed Teesta IV Dam and its construction, especially the intake tunnel, would destroy a sacred lake that is believed to be the heart of where a Lepcha clan originated.
The Teesta River
The Lepchas boycotted the public hearing that is part of
the environmental clearance process. The Expert Committee of the (Federal)
Ministry of Environment and Forests is scheduled to consider granting
environmental clearance for the project at a meeting this month. While the
threats of the Teesta IV Dam are very real, all is not lost. NGOs like Affected Citizens of Teesta,
Sikkim Bhutia Lepcha Apex
Committee and others have been relentlessly opposing dams in the region. To
date, the government of
Sikkim has scrapped 10 dams, due to local opposition. People are concerned
about the impacts of the dams on the environment and their way of life. They
think and feel that the large migrant worker population, mainly from the plains,
that will arrive during the construction of the dams will threaten their
society’s social and cultural fabric. I have observed that across the width of
the Indian Himalayas the hill people are different from those in the plains. The
hill people are simpler, warmer, friendlier and trusting.
Affected Citizens of Teesta organized an action for the
International Day of Action for Rivers
Then I hope you will help me spread the word about the threat to the Teesta River by sharing the slideshow with your friends and family. Check back for more updates on how you can take action to support the groups in Sikkim who are fighting to protect their last stretch of free-flowing river.
http://www.internationalrivers.org/blogs/257/a-journey-to-dzongu
High Court restores ownership of land wrongly recorded as govt’s
GANGTOK, 05 Sept: In what is being termed as a landmark judgment, the High Court of Sikkim on 03 September 2012 has given back a petitioner his land which had been wrongly recorded as government land without proper verification of the original land records and without inquiring about the same from the original landowners.
Dr. Doma T Bhutia, Advocate of the petitioner informs that Kumar Pradhan of Rangpo had approached the High Court of Sikkim challenging the survey order of land record of 1979-1980 prepared by the Department of Land Revenue And Disaster Management.
The petitioner had stated that two plots of land belonging to him situated at Sawney and Kumrek areas had been wrongly recorded in the name of government under the said survey conducted by the concerned department in the year 1979-80, and that this had been done in a superficial manner without proper verification from the original lands record or enquiry from the original land owners.
In the course of the hearing, the necessary rectification of the lands bearing no. 2158/P. measuring 1.07 acres have been made and accordingly Parcha Khatian has been issued to him.
With regards to another plot of land no.1100 measuring about 1.16 acres at Sawney under Central Pendam Block falling under Pakyong Sub-division, the DC East has informed that there being a dispute over its title between the petitioner and his paternal uncle, Durga Das Pradhan by a letter dated 13.8.2012 addressed to Additional Advocate General by the DC East, Mr. Kumar was asked to approach the appropriate court of law for the purpose.
The writ petition was heard by the single bench of the Sikkim High Court Justice SP Wangdi. While disposing the petition, Justice Wangdi observed that since the land is recorded in the name of Kumar Pradhan’s grandfather Harka Bdr. Pradhan, there would be no impediment in getting the land record restored in the name of the grandfather as per the existing Parcha Khatian.
He further directed that the State Respondent may, therefore, take necessary steps for getting the land records restored in the name of Harka Bahadur Pradhan. State counsel, Karma Thinlay Namgyal, submitted that there would be no difficulty to comply with the direction and that he shall convey about it personally to the DC East, for its expeditious compliance.
It was also learnt that a huge forest land measuring 26.2313 hectares is allotted to a private company i.e. Madhya Bharati by the State Government by accepting the compensation from the private company.
The advocate informed that Kumar Pradhan is jubilant and thankful to the State government for restoring his land back to him.
Advocate Dr. Doma T. Bhutia and her juniors have welcomed the outcome of the writ petition and appreciated the positive steps shown by the State and further welcomed the observation of Justice SP Wangdi in the said petition.
Source:SikkimNow
Tuesday, September 4, 2012
A Tough, Rewarding Journey to India’s Valley of Flowers
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A Tough, Rewarding Journey to India’s Valley of Flowers
By RAKSHA KUMAR
.The Valley of Flowers, a national park in Uttarakhand State in the western Himalayas, is a four-mile uphill trek from the village of Ghangaria. Ghangaria can be reached by hiking (or taking a short helicopter ride) from the town of Govindghat. A view of Ghangaria from the Valley of Flowers. The valley was given its name by the British mountaineer Frank S. Smythe, who came upon it in 1931 while returning from an expedition.
Entry to the park is restricted to daylight hours, 6 a.m. to 6 p.m. Camping is prohibited.
In Hindu mythology the valley, which is 14,000 feet above sea level, is known as Nandan Kanan, the garden of Lord Indra in paradise.
Stachys melissifolia blossoms are common in the valley.
The valley is known for asters, blue aster being the most common variety.
Bistorta affinis, also known as the Himalayan fleeceflower.
Cherophyllum blossoms are found in abundance near the Tipra glacier in the valley.
Ligularia blossoms are common to the Pushpawati River banks in the valley.
A pink-browed rosefinch.
A yellow-breasted greenfinch.
A grueling four-hour trek from the village of Ghangria in the Garhwal district of Uttaranchal brings visitors to one of India’s most stunning national parks, the Valley of Flowers. These grassy pastures, at an altitude of 13,000 feet in the western Himalayas, are covered in snow most of the year. During July and August, though, many of the valley’s more than 600 varieties of flora are in stunning bloom. The trek, which runs across streams and below shining, snow-covered peaks, eventually brings the traveler to a field of pink and white flowers.
Several Hindu legends are associated with this valley – it is said to be where Hanuman collected herbs to revive Lakshmana, younger brother of Rama, after he was poisoned by a demon’s arrow.
The English mountaineer, explorer and botanist Frank S. Smith camped in the valley for several weeks during the monsoon of 1937 and gave it its name. It was declared part of the Nanda Devi national park in 1982, and it is now a Unesco World Heritage site.
Getting there is a slog, even before you start hiking, and the summer months bring monsoon rains that make the trails a slippery mess. Travelers should budget about six days for the trip in order to acclimate to the altitude.
Several Web sites, including India Mike and TripAdvisor, offer advice from past visitors about the best routes to take. An entrance gate to the valley closes at 6 p.m. during the summer, which makes it necessary to get an early-morning start on the hiking portion of the journey.
Here are some travel tips:
By Road
Delhi-Rishikesh (140 miles)
Take a bus from Kashmere Gate Inter State Bus Terminus in Delhi. The journey takes about six hours. You can book tickets with the Uttar Pradesh State Road Transport Corporation (UPSRTC).
Alternatively, take one of the many trains to Haridwar, then take a bus to Rishikesh, about 16 miles away. It’s a good idea to spend the night at Rishikesh, which has a better selection of accommodations.
Rishikesh-Joshimath (155 miles)
The small town of Joshimath is situated at the confluence of Alaknanda and Dhauliganga valleys, at an altitude of 6,200 feet. Tourist taxis leave Rishikesh early in the morning and reach Joshimath in the evening. A shared taxi will cost about 500 Indian rupees, or about $9, per person, or a car can be hired for about 4,500 rupees.
Joshimath-Govindghat-Ghangria (25-mile drive and 9-mile trek)
Joshimath is about 14 miles below Govindghat, the first base camp before the trek to the Valley of Flowers begins. Taxis travel between Govindghat and Joshimath throughout the day. Govindghat is where the Alaknanda and Laxman Ganga rivers meet; it is a 9-mile trek from there to Ghangria (altitude 10,000 feet), the last base camp before the valley.
Ghangria is also a base camp for treks to Hemkund, a pilgrimage site for Sikhs; lodging and boarding are available there. From Ghangria , the Valley of Flowers is a rigorous trek of nearly four miles, past enchanting waterfalls and glaciers.
Where to stay
Rishikesh
Hotel Vasundhara Palace: located on the Rishikesh-Badrinath Highway, a single room is 3,540 rupees.
Hotel Ganga Kinare: Less than a mile away from the Rishikesh railway station, the cheapest deluxe room is 3,999 rupees.
Joshimath
GMVN guesthouse: An Uttarakhand State government guesthouse, located in the upper bazaar; basic, clean double rooms cost 630 rupees.
Ghangria
The GMVN guesthouse here is the best option: Double rooms are 1,200 rupees for deluxe and 850 for economy. The guesthouse also has a dormitory that charges 180 rupees per bed.
MG Kiran takes charge as Commissioner-cum-Secretary, Finance GANGTOK, 03 Sept: MG Kiran, (SK-1993), Commissioner-cum-Secretary to the Governor, on deputation will now take charge of the state’s Finance Department. Mr Kiran has been repatriated and posted as Commissioner-cum Secretary, Finance, Revenue & Expenditure Department in place of KN Bhutia who proceeded on retirement on 31 August, last Friday.
Monday, September 3, 2012
registration/ applying importer exporter code (IEC)
Procedure for registration/ applying importer exporter code (IEC)
by CS Mohit Saluja
To import in India or export out of India, IEC Code i.e. Importer Exporter Code is mandatory. IEC Code is unique 10 digit code issued by DGFT – Director General of Foreign Trade, Ministry of Commerce, Government of India. No person or entity shall make any Import or Export without IEC Code Number.
Eligibility condition and Legal Provisions are given for IEC Code Number Application in Foreign Trade (Regulation) Rules, 1993 Ministry of Commerce, Notification No. GSR 791 (E), dated 30-12-1993. However, Directorate General of Foreign Trade(DGFT) issued a Policy Circular No.15 (RE-2006)/2004-2009 Date: 27th July, 2006) for New System for issuance of Importer-Exporter Code Number.
Eligibility and other provisions for applying IEC
1. No export or import shall be made by any person without an Importer-Exporter Code (IEC) Number unless specifically exempted. An Importer/Exporter Code (IEC) number shall be granted on application to the competent authority. Every application for grant of IEC number shall be made by the Registered/Head Office of the applicant, unless otherwise specified, shall be submitted to the Regional Authority of Directorate General Foreign Trade, as per the territorial jurisdiction of the Regional authorities and shall be accompanied by documents prescribed therein. In case of STPI/ EHTP/ BTP units, the Regional Offices of the DGFT having jurisdiction over the district in which the Registered/ Head Office of the STPI unit is located shall issue or amend the IECs.
2. The Licensing Authority concerned shall issue an IEC number in the format as given in Appendix 2B and will dispatch to the applicant’s address. IEC is dispatched through Speed Post to verify the address of the Firm/ Entity which intends to carry on the Business of Import Export Therefore not handed to the applicant over the counter. So it is mandatory for the entity to affix the Board indicating name and address of the Firm at the Business Place.
3. An IEC Number allotted to an applicant shall be valid for all its branches/divisions/units/factories as indicated on the IEC number.
4. Where an IEC Number is lost or misplaced, the issuing authority may consider requests for grant of a duplicate copy of IEC number, if accompanied by following documents:
1.Request letter on Letter Head for issue of duplicate IEC.
2.Application form as per Appendix 2 and 3 in duplicate.
3.Copy of IEC OR IEC No.
4.Copy of FIR.
5.Affidavit on Rs.20/- Stamp Paper duly notorised.
6.Challan or D.D. of Rs. 200 in favour of Jt.D.G.F.T
7.Self Addressed Envelope affixed with Rs.25/- postal stamp
5. If an IEC holder does not wish to operate the allotted IEC number, he may surrender the same by informing the issuing authority. On receipt of such intimation, the issuing authority shall immediately cancel the same and electronically transmit it to DGFT for onward transmission to the Customs and Regional Authorities to intimate that the said IEC number has become inoperative.
6. If there is any change in the name/address or constitution of IEC holder/licensee, the Actual User eligible for import without a license/recognised status holders, as the case may be, shall cease to be eligible to import or export against the license /IEC Number or any other facility permitted under the Policy and Handbook, after expiry of 60 days from the date of such change in his name or constitution.
Documents Required for Applying the IEC Code
1.Covering Letter on Firm/ company’s letter head for issue of new IEC Code Number.
2.Two copies of the application in prescribed format (Aayaat Niryaat Form ANF 2A ) must be submitted to the Regional Jt..DGFT Office.
3.Each individual page of the application has to be signed by the applicant.
4.Part D In respect to Declaration/ Undertaking ahs to be filled in and signed by the Applicant and has to be submitted along with the application.
5.Rs 250.00 Bank Receipt (in duplicate)/Demand Draft evidencing payment of application fee in terms of Appendix 21B.
6.Certificate from the Banker of the applicant firm in the format given in Appendix 18A.
7.Self certified copy of PAN issuing letter or PAN (Permanent Account Number) Card issued by Income Tax Authority. Photocopy of PAN card has to be submitted along the application. If PAN card not issued to the applicant then a copy of PAN allotment letter from I.T. Department will also be accepted. Only one IEC would be issued against a single PAN number. Any proprietor can have only one IEC number and in case there are more than one IECs allotted to a proprietor, the same may be surrendered to the Regional Office for cancellation. Two IEC can not be issued against one PAN
8. Two copies of passport size photographs of the applicant. The photograph pasted on the banker’s certificate must be attested by the banker with Seal and Signature of the applicant.
9.The applicant shall furnish a self addressed envelope of 40 x 15 cm with postal stamp affixed on the envelope for all documents required to be sent by Speed Post. These documents may be kept secured in a file cover.
10.The application must be submitted in Duplicate.
Application can be submitted in person/by Authorised Employee of the Firm/ Company at the counter in person at the office or it can be sent through Post/Courier. An acknowledgement in form of a receipt having File Number is generated on receipt of application. The file number is used for any correspondence/query regarding the IEC application submitted to the office. The application is then sent to IEC section where it is processed. If the application is found complete in all aspects (as per requirements prescribed) an IEC is generated, or else a deficiency letter stating the nature of deficiency is prepared and sent to the applicant. Replies are awaited in cases where deficiency letter is issued and after due compliance by the applicant the IEC is allotted.
IEC allotment letter is sent through post at the registered office mentioned by the applicant in the application. Similarly deficiency letters are sent to applicant by post.
ONLINE APPLICATION FOR IEC CODE
Earlier the applications were submitted physically with the Regional Jt. Director General of Foreign Trade Office. But vide Policy Circular No. 10 (RE-2010)/ 2009-14 DATED 31ST December, 2010, facility for Online Application for IEC Code has been given to the applicants w.e.f. 01.01.2011 at the DGFT website (http:/ /dgft.gov.in)to reduce the Transaction cost and time for the applicant which will further ensure easy, flexible filing of application and reduce human interface and paper work in the process. But still under this policy circular, the option of online application is not mandatory rather the option to file the application physically is also given. Note: The Documents required under Online Application are same as that were used while Physical submission of documents which have been mentioned above.
Policy Circular No. 10 (RE-2010)/ 2009-14 DATED 31ST December, 2010 can be accessed at the following Link :-
Now apply for Importer Exporter Code code (IEC) online
source:Tax Guru
Sunday, September 2, 2012
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