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Clarification on PAN-Aadhaar Linking: CBDT Issues Important Announcement.

PAN Aadhaar Linking

For those having trouble integrating their PAN and Aadhaar, the income tax department has provided explanation on its official Twitter account. The clarification was made just a few hours before the deadline for connecting PAN and Aadhaar was set to expire. PAN and Aadhaar can no longer be linked after June 30, 2023.

According to a tweet from the income tax department, incidents where people have paid their fine for linking their PAN with Aadhaar and given their agreement but the linking is not completed till June 30, 2023 will be taken into consideration before the PAN is rendered useless. It is crucial to remember that PAN would stop functioning if Aadhaar and PAN are not linked by June 30, 2023. This would imply that a person would not possess a valid PAN whenever its citation is required.

As of July 1, 2017, the income tax law that links PAN with Aadhaar is in effect. The deadline to link PAN with Aadhaar has been repeatedly extended since that time. Additionally, the government included Section 234H in Budget 2021 to create a penalty for associating PAN with Aadhaar after the cutoff date. There was no penalty amount to link the same up to March 31, 2022.

However, as of April 1, 2022, a two-tiered penalty structure was in place. In accordance with Section 234H, if the PAN is linked to the Aadhaar between April 1, 2022, and June 20, 2022, a fine of Rs 500 will be assessed. However, a fine of Rs 1,000 would be assessed if the PAN is connected to the Aadhaar on or after July 1, 2022.

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The previous deadline for linking PAN and Aadhaar was March 31, 2023. The income tax agency did, however, extend this deadline by three months, to June 30, 2023. The income tax division has not yet stated whether or not this deadline would be extended once more.

PAN Aadhaar Linking

 

Please take note that the PAN will stop functioning if it is not connected to Aadhaar by June 30, 2023. Some effects of the PAN’s loss of functionality include the inability to process income tax returns, increased TDS and TCS on earnings and expenses, and the inability to invest in bank FDs, mutual fund schemes, etc.

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TCS Witnesses First Net Headcount Drop in Two Decades

Tata Consultancy Services

TCS Witnesses First Net Headcount Drop in Two Decades

On Friday, Tata Consultancy Services (TCS) disclosed that during the fiscal year 2023–24 (FY24), the company’s headcount decreased by 13,249 people (year over year). The top provider of IT software has seen a decline in personnel for the first time in 19 years.

601,546 people worked for the company at the end of FY24, according to TCS’s stock exchange filing. The top IT software company has experienced a decline in staff for the first time in 19 years.

As per TCS’s stock exchange statement, the company had 601,546 workers at the end of FY24. In the fourth quarter (Q4) of FY 2024, TCS experienced a 1,759 workforce reduction (January to March).

The company’s headcount has decreased for the third straight quarter with this one. There were 5,680 fewer employees in Q2 than there were in Q1 (quarter over quarter), and the corporation saw a net decline of 6,333 workers.

At Rs 12,434 crore for the January-March quarter of FY24, TCS recorded a 9% increase in net profit over the same time the previous year, when it was Rs 11,392 crore.

Also Read: India Emerges as Global Leader in Web3 Adoption with Over 1,000 Startups: Report

“Our delivery centers are much more lively, and the morale of our associates has increased due to the reduced attrition at 12.5%, the positive response to our campus hiring, the increased customer visits, and the employees returning to the office,” chief HR officer Milind Lakkad said in a statement. To Rs 61,237 crore during the quarter, the company’s revenue climbed by 3.5 percent.

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India Emerges as Global Leader in Web3 Adoption with Over 1,000 Startups: Report

Web3

India Emerges as Global Leader in Web3 Adoption with Over 1,000 Startups: Report

According to recent research released on Tuesday, India now boasts one of the biggest Web3 ecosystems globally, home to over 35 million merchants and over 1,000 firms.

Globally, the percentage of Blockchain developers in the nation climbed from 3% in 2018 to 12% last year, the highest percentage among emerging nations, according to a report by Web3 venture capital firm Hashed Emergent.

Tak Lee, CEO and Managing Partner of Hashed Emergent, stated, “The findings underscore India’s remarkable ascent in Web3 adoption and show that it is on a trajectory to become the global leader.”

Lee continued, “We think the regulatory environment is slowly changing in the right direction, but more beneficial regulatory developments are needed to spur growth.”

Out of more than 150 nations, India topped the list for on-chain usage in the previous year.

The Head of Web3 at KPMG in India, Krishna Tyagi, claims that “blockchains have enabled various innovative use cases such as DeFi, tokenization of real-world assets, self-sovereign identities, track and trace, etc., which were not possible earlier.”

Also Read: Report: Over 51% of Indians Utilize Untranslatable Words and Phrases in Their Language

Startups in India are receiving more funding in the Web3 subsectors of infrastructure, entertainment, and finance.

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Report: Over 51% of Indians Utilize Untranslatable Words and Phrases in Their Language

Language

Report: Over 51% of Indians Utilize Untranslatable Words and Phrases in Their Language

According to research conducted on Monday, more than half of urban Indians (approximately 51%) utilize terms or phrases from particular regional languages to express affection or in clever or hilarious circumstances that are difficult to properly translate into English. The study by language learning app Duolingo is based on a poll that was conducted in association with YouGov to ascertain urban Indians’ opinions regarding language and expression.

The results showed that more than half (51%) of Indians frequently use unusual phrases (from other languages) in everyday speech. Regarding phrases or words that convey nuanced meanings that cannot be fully translated or expressed in English, roughly 68% of urban Indians acknowledged this. Similarly, 69% acknowledged that they have used language-specific phrases or words that cannot be fully translated into English to express emotions or feelings (such as happiness or sadness) or to have conversations with family and friends.

Furthermore, 51% admitted to utilizing these idioms to add wit and humor to their conversations or as terms of endearment or love language. Recently, the company celebrated this language diversity by asking users to go on a voyage of linguistic discoveries with the “#EnglishMeinNahiJamta” campaign, which was posted on Duolingo India’s Instagram page. Favorite words from their local languages that become less magical when translated into English were shared by users under the guidance of the lovable characters Duo and Lily.

Also Read: Reed Hastings: Netflix’s Success Strategy Includes Firing Employees with Adequate Performance

“At Duolingo, we understand that languages are more than just communication tools—they’re expressions of culture, emotion, and identity,” says Karandeep Singh Kapany, Regional Marketing Director. Our “#EnglishMeinNahiJamta” campaign, which highlights phrases that defy translation and demonstrate a growing appreciation for linguistic diversity, celebrates this beauty. We enable people to embrace expression, improve lives, and create international relationships through programs like this,” he continued.

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