#WeeklyNewsRoundUp: I-T Dept To Slap Penalty On Fraudulently Revised ITRs

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Prime Minister Narendra Modi inaugurated the much-awaited Hyderabad Metro Rail. The 30 kilometre-long first phase of the Metro rail project between Miyapur and Nagole was launched by the prime minister at the Miyapur station.  Under the project, sky-walks will be built to connect stations to commercial complexes, stadiums and offices.

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The Central Bureau of Direct Taxes (CBDT) has asked the taxman to go after taxpayers who have filed a revised income tax return (ITR) after demonetization. The CBDT has told the Income-Tax (I-T) Department to slap a "higher tax rate" in case there is any hint of unaccounted money in such cases. The policy-making body of the I-T Department has issued a two-page directive to all regional chiefs of the department on November 24, suggesting ways to assess cases selected for suspicious financial activity after the note ban.

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The Indian Railways' ambitious project of reducing travel time by interconnecting four major metros with a high-speed network of trains running at 160 kmph could be launched by August 2022. The four metros include Delhi, Mumbai, Chennai and Kolkata. The current average speed of trains on this network is around 88-90 kmph. Christened the Golden Quadrilateral, the project envisages creation of a 10,000 km network of semi-high speed routes.

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The Delhi government has directed all resident welfare associations (RWAs) to provide electric heaters to night security guards, and ensure that they are not forced to burn coal or wood to keep warm during chilly nights. Such open burning leads to emission of particulate matter which is readily trapped near the surface, especially during the winter months, due to a number of factors such as low temperature, high moisture and lack of winds.

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The Kerala government has decided to amend the state Panchayat Raj Act and Municipalities Act with an aim to regularise unauthorised buildings, constructed on or before July 31, 2017. Unauthorised constructions would be regularised without compromising on the safety and strength of the structure, and the owners will have to pay a compound fee to avail of the benefits of this move.

Source: Media reports