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[ad_1] H&M Q1 profit falls far short of expectations [ad_2] Source link

[ad_1] The filing of Income Tax Return (ITR) for the Assessment Year (AY) 2021-22 – that is for the Financial Year (FY) 2020-21 – could start only after the normal due date of July 31, 2021 due to technical issues in the new Income Tax Portal, resulting in postponement of several deadlines, including the due date of filing return to December 31, 2021 for those assessees whose incomes are not subject to audit. As a result, due to postponement of the due date by 5 months, many assessees were confused if they had filed the return for the FY 2020-21 or not, especially after the due date got over in January 2022. The taxpayers who, due to the confusion, failed to file their return within the due date of filing return, were awakened from their slumber by repeated messages from the Income Tax Department in March 2022, asking them to file the return latest by March 31, 2022. Although the messages let the non-filers know that they are yet to file their return of income for the AY 2021-22, many of the assessees started gathering data for the FY 2021-22 – instead of FY 2020-21. Take, for example, the case of Shiv Pal (name changed), who lost his job in August 2020, when the newspaper in which he was working stopped its publication. Thinking that the message to file ITR is for FY 2021-22, he was wondering why he should file the return without any income. Not received your income tax refund yet? Know the possible reasons and how to deal with it However, after fetching the relevant information from the Income Tax Portal after logging in, he was able to remember that he worked till August 2020 and taxes were also deducted at source (TDS) from the salary he got. When he asked the financial institution – from which he has availed a home loan – to give a statement containing the figures of interest paid and principal repayment, to file the return for AY 2021-22, the institution provided him the statement for FY 2021-22 instead. In another case, despite having rich experience in handling the compliance for her company as a seasoned Company Secretary, Ananya Gupt (name changed) got confused while meeting her own tax filing compliance. After revealing a mix of data related to FY 2020-21 and FY 2021-22 in her ITR for the AY 2021-22, she is now wondering if she will have to revise the return that she has just filed. It appears that confusions are there even in the Income Tax Department – as in one case, the Self Assessment Tax paid on January 10, 2021 for the AY 2020-21 was appearing under FY 2020-21 in the Annual Information Statement (AIS). Tax Saving through HUF: Who can form a Hindu Undivided Family and how? With the time running out fast to complete filing of return for AY 2021-22 (FY 2020-21) by the midnight of March 31, 2022, such confusion makes the late filers nervous, that makes them even more confused. To avoid such a situation, instead of sending repeated messaged at the fag end of AY 2021-22, the Income Tax Department should have informed them periodically soon after the due date of filing return got over on December 31, 2021. [ad_2] Source link

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[ad_1] The Reserve Bank of India on Thursday gave another extension till March 2023 to banks to implement its direction on use of only lockable cassettes for replenishing cash in their ATMs. Currently, most of the ATMs (Automated Teller Machines) are replenished by way of open cash top-up or by loading cash in the machines on the spot. To do away with the current system, the Reserve Bank of India (RBI) had asked banks to ensure that lockable cassettes are swapped at the time of cash replenishment in the ATMs. In April 2018, the regulator had asked banks to consider using lockable cassettes in their ATMs, which shall be swapped at the time of cash replenishment. It was to be implemented in a phased manner, covering at least one-third ATMs operated by the banks every year, so that all ATMs achieve cassette swap by March 31, 2021. However, in July last year, RBI had extended the deadline till March 31, 2022. “Representations have been received from various banks and Indian Banks’ Association, expressing difficulties in meeting the timeline. Accordingly, it has been decided to extend the timeline for implementation of cassette swap in all ATMs till March 31, 2023,” the RBI said in a circular. The RBI has also asked banks to set a board-approved internal timeline to adhere to the extended deadline and submit quarterly status reports. Boards of the banks shall monitor the progress to ensure compliance, the circular said. The recommendation to switch to lockable cassettes in ATMs was based on a report of the Committee on Currency Movement set up by the central bank. At the end of February, 2022, there were 1,20,597 ATMs on the site of banks and 1,00,909 off-site ATMs in the country. [ad_2] Source link

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Read on to learn more about the best selections from across BMO’s 11 credit card offerings, including recommended cards for travellers and Air Miles collectors, as well as the most attractive no-fee, cash back and low interest cards. The best BMO credit cards in Canada 2022 Best BMO no-fee credit card — BMO CashBack Mastercard Best BMO cash back credit card — BMO CashBack World Elite Mastercard Best BMO credit card for dining and transit — BMO Eclipse Visa Infinite Best BMO travel credit card — BMO World Elite Mastercard Best BMO Air Miles credit card — BMO Air Miles World Elite Mastercard Best BMO low interest credit card — BMO Preferred Rate Mastercard Best BMO rewards credit card — BMO Cashback World Elite Mastercard Best BMO premium rewards credit card — BMO Eclipse Visa Infinite Privilege Best BMO student credit card —BMO Cashback Mastercard for Students Best BMO no-fee credit card BMO CashBack Mastercard* You know what we all need? More cash in our pockets. 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This card does away with tiered rewards or categories and offers a flat cash back rate of 1% on all credit card purchases, and you can earn even more on bonus categories: 5% on groceries (on the first $500 spent each billing cycle, 1% thereafter), 4% on transit (taxis, rideshare, public transit), 3% on gas and 2% on recurring bills. Even better, unlike some cards that automatically deposit rewards once a calendar year, this product allows the account holder to choose when to redeem points in $10 increments (as long as they’ve accumulated at least $50), and where to apply them; the money can be deposited into an InvestorLine account, a chequing or savings account or applied to credit card debt. A welcome bonus of 10% cash back for the first three months sweetens the deal. As an Elite Mastercard, this product offers its users a suite of perks, including BMO CashBack World Elite travel and medical protection, roadside assistance and complimentary membership in Mastercard Airport Experiences provided by LoungeKey. 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But look closer: It’s a Visa credit card, too. That’s because this is a new partnership for BMO. Your attention to those details will likely be brief, though, once you see what’s on offer with this card. The BMO Eclipse Visa Infinite earns a whopping 5 BMO Rewards points per $1 spent on almost anything to do with food or transit. This means 5 points per $1 on groceries, eating out, and food delivery, plus gas, public transit, taxis and rideshares, including

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[ad_1] Canada's oil industry at odds with Trudeau over new 2030 climate plans [ad_2] Source link

[ad_1] Government-owned power giant NTPC along with its joint ventures and subsidiaries clocked highest ever annual electricity generation of 360 billion units in 2021-22, registering a growth of 14.6 per cent compared to the previous year. The country’s largest power producer also recorded the maximum single-day generation of 1,215.68 MU (Group) and 1,013.45 MU (NTPC) during 2021-22. “NTPC, India’s largest integrated power generating company, delivered a phenomenal performance with highest ever annual group generation of 360 BU, a growth of 14.6 per cent compared to previous year,” a company statement said. The coal-based plants recorded a PLF (Plant Load Factor), or capacity utilisation, of 70.7 per cent with an availability factor of 88.8 per cent. On a standalone basis, the NTPC generated 299 BU in 2021-22, an increase of 10.4 per cent over the previous year. BU refers to Billion Units and MU stands for Million Units. The total installed capacity of NTPC Group increased by 4.7 per cent to 68,940 MW with 3,130 MW of capacity addition in the fiscal year under review. On a standalone basis, the NTPC’s capacity increased by 4.1 per cent to 54,575 MW. NTPC Korba in Chhattisgarh and NTPC Singrauli in Uttar Pradesh recorded remarkable achievements in the current year. Korba Unit-3 and Singrauli Unit-4, commissioned 38 years ago, have achieved more than 101 per cent and 99 per cent annual PLF, respectively. The stellar performance is a testimony to the expertise of NTPC engineers, operation and maintenance practices and technical systems, it said. The company is also increasing its renewable portfolio, and has received approval from the Ministry of New and Renewable Energy (MNRE) for setting up of one of the largest 4,750 MW renewable energy parks in Rann of Kutch, Gujarat. NTPC also expects to set up 10,000 MW capacity in Rajasthan for which a Letter of Intent (LoI) has been issued. The NTPC has set a new target of installing 60 GW of renewable energy capacity by 2032. The year also witnessed NTPC expanding its footprint in new business areas like green hydrogen, waste-to energy and e-mobility. NTPC said it is aiming at 10 per cent reduction in net energy intensity by 2032. It has become the country’s first energy company to declare its energy compact goals as part of the UN High-Level Dialogue on Energy (HLDE), it said. [ad_2] Source link

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