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A bill seeking to provide for four nominees by a bank account holder was introduced in the <keyword id="19895394" type="General" weightage="20" keywordseo="Lok-Sabha" source="keywords" meta.keywordsubtype="org" meta.entityname="Lok Sabha" meta.hostid="153" meta.entityid="Lok Sabha">Lok Sabha</keyword> on Friday to ensure better protection of depositors and enhance customer convenience. Introduced by Minister of State for Finance Pankaj Chaudhary in the Lower House, the Banking Laws (Amendment) Bill, 2024, has a provision for simultaneous and successive nominations to bank accounts, lockers, etc. As per the provision of the bill, a bank account holder can nominate up to four persons. The bill also seeks to transfer of unclaimed dividends, shares, and interest or redemption of bonds to the Investor Education and Protection Fund (IEPF), allowing individuals to claim transfers or refunds from the fund, and thus safeguarding investors' interests. As the banking sector has evolved over the years, and with a view to improving bank governance and investor protection, it has become necessary to make certain amendments to five Acts, according to Statement of Objects and Reasons of the Bill. The Bill, which was approved by the <keyword id="19916620" type="General" weightage="20" keywordseo="Union-Cabinet" source="keywords" meta.keywordsubtype="org" meta.entityname="Union Cabinet" meta.hostid="153" meta.entityid="Union Cabinet">Union Cabinet</keyword> last week, proposes to amend the <keyword id="20824389" type="General" weightage="20" keywordseo="Reserve-Bank-of-India-Act" source="keywords">Reserve Bank of India Act</keyword>, 1934, the Banking Regulation Act, 1949, the State Bank of India Act, 1955, the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980. The proposed bill seeks to improve governance standards, provide consistency in reporting by banks to the Reserve Bank of India, ensure better protection for depositors and investors, improve audit quality in public sector banks, bring customer convenience in respect of nominations, and to provide for increase in the tenure of the directors in co-operative banks. Another proposed change relates to redefining 'substantial interest' for directorships, which could increase to Rs 2 crore instead of the current limit of Rs 5 lakh, which was fixed almost six decades ago. Congress member Manish Tewari opposed the introduction of the bill, saying the power to legislate with regard to cooperatives vests with state governments. RSP member N K Premachandran opposed amending five legislations through one bill, while TMC member Saugata Roy termed the bill "superfluous", saying the the amendments proposed in the bill could have been done through administrative decisions. Responding to opposition's remarks, <keyword id="19956758" type="General" weightage="20" keywordseo="Finance-Minister" source="keywords">Finance Minister</keyword> Nirmala Sitharaman said the various amendments done in Banking Regulations Act with respect to <keyword id="20814377" type="General" weightage="20" keywordseo="cooperative-banks" source="keywords">cooperative banks</keyword> are not just one or two but several. "Simple understanding is we are not touching any aspect of the cooperatives other than that which claims under the name of banking...the sections which have been brought in for amendments, as also the court verdicts, have repeatedly reinforced the point that Banking Regulation Act and the Cooperative Banks do have this relationship and therefore it has to be taken through this route," she said. Otherwise, there is no attempt to undermine the cooperatives, particularly cooperatives dealing with everything other than banks, she said defending the Bill. The bill proposes to increase the tenure of directors (excluding the chairman and whole-time director) in cooperative banks from 8 years to 10 years, so as to align with the Constitution (Ninety-Seventh Amendment) Act, 2011. Once passed, the bill would allow a director of a Central Cooperative Bank to serve on the board of a State Cooperative Bank. The bill also seeks to give greater freedom to banks in deciding the remuneration to be paid to statutory auditors. It also seeks to redefine the reporting dates for banks for regulatory compliance to the 15th and last day of every month, instead of the second and fourth Fridays. "What's the rationale behind it? The current reporting Friday system has several limitations that impact the accuracy and effectiveness of the reporting of data. "These limitations are incomplete coverage of monthly data, seasonal fluctuations in banking activity which lead to inconsistent reporting, and the need for adjustment every 11th year which introduces complications and inconsistencies. That is why, in order to address the issue, it is proposed to amend the legislation," she said. The announcement about amendments to the Banking Regulation Act was made by the Finance Minister in the 2023-24 Budget speech. "To improve bank governance and enhance <keyword id="22728161" type="General" weightage="20" keywordseo="investors-protection" source="keywords">investors' protection</keyword>, certain amendments to the Banking Regulation Act, the Banking Companies Act and the Reserve Bank of India Act are proposed," she had said.

Bill to provide up to four nominees to a bank account introduced in Lok Sabha

The <keyword id="19895221" type="General" weightage="100" keywordseo="Competition-Commission-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Competition Commission of India" meta.hostid="261" meta.entityid="Competition Commission of India">Competition Commission of India</keyword> has dismissed a complaint against <keyword id="20201307" type="General" weightage="20" keywordseo="Google-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Google India" meta.hostid="261" meta.entityid="Google India">Google India</keyword> alleging that the tech giant abused its <keyword id="22202852" type="General" weightage="20" keywordseo="Dominant-Position" source="keywords">dominant position</keyword> to favour <keyword id="20200171" type="General" weightage="20" keywordseo="Truecaller" source="keywords" meta.keywordsubtype="org" meta.entityname="Truecaller" meta.hostid="261" meta.entityid="Truecaller">Truecaller</keyword> in the market for caller ID and spam protection apps, as it found no evidence of violation of <keyword id="20854369" type="General" weightage="20" keywordseo="Competition-Law" source="keywords">competition law</keyword>. While dismissing the complaint, the fair trade regulator said, "The Commission finds that no prima facie case of contravention of the provisions of Section 4 of the Act is made out against <keyword id="6355629" type="General" weightage="20" keywordseo="Google" source="Orion">Google</keyword> in the instant matter". Section 4 of the Competition Act, deals with the abuse of dominant position. The ruling came on a complaint filed by Rachna Khaira (informant) accusing Google of granting exclusive access to Truecaller to share private contact information while prohibiting other apps from doing the same. Further, she alleged that this practice has distorted the market and created a monopoly for Truecaller. The informant also alleged that Google's developer policy prohibits unauthorised disclosure of non-public contacts, and Truecaller's privacy policy, to which she argued allowed the sharing of such information. Further, Khaira alleged that Google favoured Truecaller due to commercial arrangements involving Google's cloud storage and advertising services. The regulator after reviewing submissions from both Google and Khaira, found that the informant's claims were unsubstantiated. "...the allegation of the informant remains unsubstantiated and despite sufficient opportunity, the informant has not provided any evidence to prima facie establish that Google is according either preferential treatment to Truecaller or resorting to discriminatory practises by allowing access to user's contact data to Truecaller while denying the same to the competing applications," CCI said in an order on June 24. The competition watchdog also addressed the commercial relationship allegations against the tech major, stating that mere commercial relationships do not imply preferential treatment unless proven. However, the regulator found no evidence suggesting that these changes granted Truecaller a competitive advantage over its rivals. The request for interim relief by the informant to temporarily block Truecaller from operating on the Play Store was also rejected by the competition watchdog."The Commission finds that no prima facie case of contravention of the provisions of Section 4 of the Act is made out against Google in the instant matter. Accordingly, the Information is ordered to be closed," the fair trade regulator said.

Competition Commission dismisses complaint against Google India

<ul class="summary-list"><li>Nan Ray moved from India to live with her son and his wife in America when her granddaughter was 2.</li><li>While the cultural shock was huge, she felt it was her duty as a grandmother to provide childcare.</li></ul>This as-told-to essay is based on a conversation with Nan Ray, 73, of Minnesota. It has been edited for length and clarity.My granddaughter was a toddler when my husband and I moved permanently from India to the US.We got our green cards in 2010 when she was 2 years old. The sole reason was to take care of her — and, subsequently, her brother, who was born in 2012.We decided to leave our native country after one particularly fraught phone conversation with our only child, my son, who had stayed in America working after graduating from college in India."Mom, I need your help," he said. He and my daughter-in-law had full-time jobs and were under much stress <a target="_blank" class="" href="https://www.businessinsider.com/moms-stressed-juggle-family-work-kids-spouse-home-labor-2023-5">juggling careers and parenting</a>.They'd <a target="_blank" class="" href="https://www.businessinsider.com/nanny-who-worked-for-billionaire-families-shares-experience-2022-11">employed a nanny</a>, but it hadn't worked out. When you're in a high-stress profession, you don't want to keep dashing home from work to fill in the gaps in childcare. You need support and a buffer."I'm his mom," I thought. "Even though he's grown up now, it's my responsibility to look after him and the rest of his family."To be honest, I didn't consider the consequences of leaving my old life behind. It just felt like the right thing to do. In India, it's relatively common for <a target="_blank" class="" href="https://www.businessinsider.com/living-multigenerational-home-lessons-pateince-openness-death-2024-3">generations to live together</a>, and everybody does their bit to help out.<h2 id="70bf4995-4451-4f67-b229-a611cc5973ff">My son and daughter-in-law trust us</h2>My husband, now 82, had already formed a particularly strong bond with our granddaughter during the extended vacations we'd spent with her.She didn't go to sleep easily. But when my daughter-in-law put her in my husband's arms, she'd drift off hearing his heartbeats. She and my son trusted us entirely.When we arrived, I was 59 and still had a lot of energy. I did everything from changing <a target="_blank" class="" href="https://www.businessinsider.com/how-to-potty-train-children-following-the-montessori-way-2021-9">diapers and potty training </a>to cooking and taking the kids to fun places like the zoo.I'm a former teacher who ran a school in Delhi. I took pride in teaching my grandchildren their first words in English and then a smattering of my mother tongue. We introduced them to Indian cuisine, but there was also the occasional McDonalds.<h2 id="af3fe168-6ef7-46e4-b7bb-a316dc1661c9">My husband and I have made sacrifices by leaving India</h2>As for <a target="_blank" class="" href="https://www.businessinsider.com/parenting-style-break-generational-curses-raise-child-parents-2023-8">parenting style</a>, we were mostly on the same page as my son and daughter-in-law, who was born in the US. The techniques we used reflected the way we raised our son when he was growing up.It never occurred to us or my son and daughter-in-law to pay us even the smallest amount for childcare. They pay us in love. We preferred to think of their salaries going toward their future as they progressed in their careers as tech executives. It has helped them reach their potential; we're so proud they've come far.We live in a big house where everyone has their own space. We share a kitchen, though, and eat together. We celebrate all the holidays and festivals, whether Indian or American.Still, I feel I've sacrificed for our philosophy of having a village to raise children. I don't have much of a network of friends in Minnesota. I miss my relatives in Delhi.But I tell myself, why have a family if you don't want to be with them every step of the way?Do you have an interesting story to share with Business Insider about grandparents and childcare? Please send details to <a target="_blank" href="mailto:jridley@insider.com">jridley@businessinsider.com</a>

I moved across the world to live with my son and daughter-in-law. It was a sacrifice, but I wanted to help with childcare.

<ul class="summary-list"><li>After months of fighting with the country's courts, Elon Musk abandoned his free speech battle in Brazil.</li><li>But the billionaire hasn't picked the same fight in other countries where the legal risks are higher.</li></ul>After months of refusing to comply with court orders and being slapped with hefty fines, <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk">Elon Musk</a> folded in his <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-x-brazil-free-speech-battle-over-2024-9">free speech battle in Brazil</a> — and a corporate law expert says he'll have to be choosy about where he picks his fights in the future.Access to Musk's social media platform, X, should be restored in Brazil within the next week once the company appoints a legal representative to respond to government requests to restrict or remove content on the site following local laws, <a target="_blank" class="" href="https://www.nytimes.com/2024/09/21/world/americas/elon-musk-x-brazil.html">The New York Times</a> reported. X had been <a target="_blank" class="" href="https://www.businessinsider.com/brazil-judge-orders-elon-musk-x-stop-operations-2024-8">blocked across the country</a> since late August, and over the last several weeks, Brazil's Supreme Court imposed substantial fines on X and Starlink — a subsidiary of Musk's SpaceX — for refusing to obey the court's demands.Musk framed the months of <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-brazil-x-ban-feud-content-moderation-free-speech-2024-9">legal back-and-forth</a> as a principled battle for free speech, painting Brazilian Supreme Court judge <a target="_blank" class="" href="https://www.businessinsider.com/x-closes-brazil-office-elon-musk-alexandre-de-moraes-2024-8">Alexandre de Moraes</a> as an overstepping tyrant bent on censoring his political opponents.The Brazilian high court last week <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-brazil-free-speech-content-moderation-fines-seizure-2024-9">seized over $3 million</a> from X and SpaceX to settle the fines levied against X, and earlier this month telecom regulators in the country threatened to <a target="_blank" class="" href="https://www.businessinsider.com/brazil-starlink-sanctions-amid-feud-elon-musk-x-2024-9">revoke Starlink's license</a> to operate in Brazil. The Times reported that a loss of revenue in one of X's largest markets could have contributed to the company's decision to comply with court orders now.But an expert on corporate law told Business Insider that there's a reason the billionaire isn't taking his <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-free-speech-argument-brazil-x-twitter-2024-9">battle of free speech principles</a> to, say, France.<h2 id="b512bc7f-5eb3-4cec-a150-50dd314c0f99">Pavel Durov's arrest was a warning</h2>"All you have to see is what happened to Telegram, with Pavel," Anat Alon-Beck, a researcher focused on corporate law and governance at Case Western Reserve University's School of Law, told BI.In August, Telegram CEO <a target="_blank" class="" href="https://www.businessinsider.com/telegram-ceo-pavel-durov-arrested-french-airport-2024-8">Pavel Durov was arrested</a> in France and charged with six crimes related to illegal content being hosted on his messaging platform, including "complicity" in the distribution of child sexual abuse material and drug trafficking on <a target="_blank" rel="" class="" href="https://www.businessinsider.com/pavel-durov-arrest-france-what-is-telegram-explained-2024-8">Telegram,</a> as well as refusing to cooperate with an official investigation into the platform.<a target="_blank" class="" href="https://www.businessinsider.com/telegram-ceo-pavel-durov-charges-questions-free-speech-censorship-2024-8">Durov's arrest</a> raised international questions about tech executives' responsibility for the content hosted on their sites. Telegram, in a statement released shortly after his arrest, said Durov has "nothing to hide" and called the CEO's detainment "absurd."Outside the US, Alon-Beck noted, there's more privacy protection for consumers, more enforcement of content moderation laws, as well as different types of regulation, which forces tech executives to reconsider their approach to content moderation on their platforms to mitigate the risk of overstepping local laws and facing legal consequences — as Musk did in Brazil, and Durov did in France."In those markets, you have to comply. Nobody is above the law — not even Elon Musk," Alon-Beck said, adding that it doesn't matter what Musk feels about international laws, or how they compare to American regulations: "The point is, when you have global businesses and you're operating outside the US, you do have to listen to those laws or pay the price. If Elon wants to be able to travel freely, he'll have to comply, just like others will have to."Musk has previously complied with content moderation requests from other governments, including the increasingly authoritarian nations of <a target="_blank" class="" href="https://www.businessinsider.com/free-speech-censorship-elon-musk-throttled-tweets-turkey-presidential-election-2023-5">Turkey</a> and <a target="_blank" class="" href="https://www.businessinsider.com/musk-twitter-no-actual-choice-censorship-governmental-request-free-speech-2023-5">India</a>. In 2023, he indicated he would abide by the European Union's rulebook on content moderation, known as the Digital Services Act, <a target="_blank" class="" href="https://www.politico.eu/article/musk-twitter-will-respect-eu-content-moderation-rulebook/">Politico</a> reported.Alon-Beck said Durov's arrest served as a warning by French authorities to all tech executives who try to skirt local regulations, especially those related to content moderation on social media."I think that point was very well taken — or should be taken — by others," Alon-Beck said.After the Telegram CEO was arrested, Musk quickly chimed in on the situation with a series of posts on X, including adding a "<a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-telegram-ceo-pavel-durov-arrest-france-free-speech-2024-8">FreePavel</a>" hashtag to a clip of Durov being interviewed by Tucker Carlson.Alon-Beck told BI that, in countries like France with strict laws around content moderation, Musk is no different than Durov, and she would expect he could be arrested if he continues to push the boundaries of local content moderation laws."It doesn't matter whether it's Instagram, or X, or Telegram — they're all platforms in those countries that are doing things differently than what we do here in the US," Alon-Beck said. "It doesn't matter if I agree or disagree. The point is, they have those enforcement systems — and as you can see, they're strict about them."Representatives for X, Telegram, and the Brazilian Supreme Court did not immediately respond to requests for comment from Business Insider.

Elon Musk has to be picky about where he fights for free speech, corporate law  expert says     

After years of navigating regulatory challenges, <keyword id="19903807" type="General" weightage="20" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword>'s <keyword id="20034982" type="General" weightage="20" keywordseo="satellite-internet" source="keywords">satellite internet</keyword> project, <keyword id="20034452" type="General" weightage="100" keywordseo="Starlink" source="keywords" meta.keywordsubtype="org" meta.entityname="Starlink" meta.hostid="261" meta.entityid="Starlink">Starlink</keyword>, is on the verge of officially entering the Indian market. A recent decision by the Indian government to allocate satellite spectrum through administrative means, rather than auctioning it, has paved the way for Starlink to expand its global reach into one of the largest untapped markets for satellite-based <keyword id="21433895" type="General" weightage="20" keywordseo="broadband-services" source="keywords">broadband services</keyword>. <h2>What does the decision mean?</h2>Recently, <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s Department of Telecommunications (DoT) decided to administratively allocate spectrum for satellite communication services. This move rebuffed demands from local <keyword id="22223051" type="General" weightage="20" keywordseo="telecom-giants" source="keywords">telecom giants</keyword> like <keyword id="19896911" type="General" weightage="20" keywordseo="Reliance-Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Jio" meta.hostid="261" meta.entityid="Reliance Jio">Reliance Jio</keyword> and Bharti Airtel, which lobbied for an auction-based approach, arguing it would create a level playing field. Instead, the government followed the global norm of administrative allocation, which Musk has publicly supported as the standard for satellite communications worldwide. This administrative route means Starlink and other satellite internet providers, such as <keyword id="20561894" type="General" weightage="20" keywordseo="OneWeb" source="keywords" meta.keywordsubtype="org" meta.entityname="OneWeb" meta.hostid="261" meta.entityid="OneWeb">OneWeb</keyword> and <keyword id="20045803" type="General" weightage="20" keywordseo="Jio-Satellite-Communications" source="keywords">Jio Satellite Communications</keyword>, can now gain access to satellite spectrum without competing in costly auctions. The pricing of the spectrum will still be regulated by the Telecom Regulatory Authority of India (TRAI), ensuring fairness. <h2>Starlink’s history in India</h2>Starlink has long been eyeing the Indian market due to the country’s large rural population, many of whom lack reliable internet connectivity. Initially, Starlink began offering pre-orders for its satellite-based internet services in 2021. However, the company ran into regulatory hurdles and was forced to refund customers after the Indian government instructed it to comply with local laws before accepting bookings. Since then, Starlink has been working behind the scenes to secure the necessary approvals. <div type="Article" hostid="261" msid="114243497" title="India set to lead global 6G revolution: Telecom Minister Jyotiraditya Scindia" mstype="2" mssubtype="0"></div>This recent shift in policy could finally allow Starlink to enter the market officially, a significant victory after nearly three years of attempts. <h2>Musk’s comments</h2>Elon Musk has been vocal about his support for administrative <keyword id="20926400" type="General" weightage="20" keywordseo="spectrum-allocation" source="keywords">spectrum allocation</keyword>, calling any move to auction satellite spectrum "unprecedented." He believes that auctioning spectrum reserved for satellite communications, as was lobbied for by Mukesh Ambani’s Reliance, could limit the ability of satellite providers like Starlink to offer affordable services. The introduction of Starlink into India’s internet landscape is expected to revolutionise connectivity in rural and underserved areas. Starlink’s low-Earth orbit (LEO) satellites promise high-speed broadband services in regions where laying fiber or other traditional infrastructure is either impractical or too costly. This could significantly reduce the digital divide, offering millions of Indians access to reliable internet for the first time. <div type="Article" hostid="261" msid="114250683" title="We&amp;#39;re about to enter the Digital Dark Ages" mstype="2" mssubtype="0"></div>While the decision to allocate spectrum administratively is a win for Starlink, it faces competition from local satellite players like Jio Satellite Communications and Airtel-backed OneWeb, which have already received regulatory clearances. The pricing model set by TRAI will be crucial in determining how competitively Starlink can operate in India. Moreover, the company will need to navigate India's complex regulatory landscape, which includes securing further clearances from various government bodies. Overall, the stage is set for a transformative shift in India's internet connectivity landscape, with Starlink poised to play a central role in bringing high-speed internet to even the most remote corners of the country.

India sets stage for Elon Musk’s Starlink internet services to finally enter India with latest spectrum decision

An internal committee of the <keyword id="19903456" type="General" weightage="20" keywordseo="Income-Tax-Department" source="keywords" meta.keywordsubtype="org" meta.entityname="Income Tax Department" meta.hostid="153" meta.entityid="Income Tax Department">Income Tax Department</keyword> will review the 1961 <keyword id="22868046" type="General" weightage="20" keywordseo="direct-tax-law" source="keywords">direct tax law</keyword> to eliminate redundant clauses, and adopt best global practices to simplify it for taxpayers for better compliance, <keyword id="19980145" type="General" weightage="20" keywordseo="CBDT" source="keywords">CBDT</keyword> chief Ravi Agrawal has said. The panel, comprising income tax (IT) officials from across the country, has started working on identifying areas of improvement in the Income Tax Act, 1961, he said, and added that the exercise is being conducted under a central government-mandated comprehensive review of the law, which was mentioned by FM Nirmala Sitharaman in the recent <keyword id="19936553" type="General" weightage="20" keywordseo="budget" source="keywords">budget</keyword> presented on July 23rd, 2024. <keyword id="19942037" type="General" weightage="20" keywordseo="Central-Board-of-Direct-Taxes" source="keywords" meta.keywordsubtype="org" meta.entityname="Central Board of Direct Taxes" meta.hostid="153" meta.entityid="Central Board of Direct Taxes">Central Board of Direct Taxes</keyword> (CBDT) chairman Agrawal said the committee is looking at the best global practices that can be adopted, as well as cutting redundancies in the existing law and finding those clauses that have reached their sunset, and hence, can be eliminated. "An internal committee of competent officers of the department from all across the country has been formed. They have started working on identifying areas of improvement. This is a work in progress," he told PTI on Wednesday during an event to mark 165 years of income tax in India. He said the committee is looking at the "problem statement" given to it in the recent Budget. It is trying to find the "best way forward" in giving the country a new direct tax law, Agrawal said. During the event, the CBDT chief assured Union Finance Minister Nirmala Sitharaman that the work of reviewing the Act will be done within the stipulated time-frame of six months, as announced by her in the Budget presented last month. The minister, during the Wednesday event, asked the I-T department to use simple language in its notices and communications with taxpayers, so that they are able to understand these quickly without getting intimidated. Agrawal said this factor is also a part of the I-T law review. The committee is trying to make tax communication simple and easy to understand to encourage compliance of rules by taxpayers, he said. The Income Tax Act, 1961, started its journey in 1922. It contains 298 sections and 23 chapters and other provisions in its current form of 1961. Sitharaman, while presenting the 2024-25 Union Budget, had announced a "comprehensive" review of the Income Tax Act. The purpose is to make the Act concise, lucid, easy to read and understand. This will reduce disputes and litigation, thereby providing tax certainty to the taxpayers. It will also bring down the demand embroiled in litigation. It is proposed to be completed in six months, she had said. Agrawal also said the CBDT will "put more officers" within the next 10-15 days to "expeditiously" clear the "substantial" number of appeals pending at the Income Tax Department level.

CBDT forms committee for IT Act review; 'sunset' clauses to be eliminated

Defending its 2019 law criminalising <keyword id="20415107" type="General" weightage="100" keywordseo="triple-talaq" source="keywords">triple talaq</keyword>, the Centre has told the <keyword id="19895345" type="General" weightage="20" keywordseo="Supreme-Court" source="keywords">Supreme Court</keyword> that the practice is "fatal" for the social institution of <keyword id="19896575" type="General" weightage="20" keywordseo="marriage" source="keywords">marriage</keyword>. In an affidavit filed in response to petitions challenging the law, the Union of India said despite the top court setting aside the practice in 2017, it has "not worked as a sufficient deterrent in bringing down the number of divorces by this practice" among the members of the community. "It is submitted that Parliament in its wisdom has enacted the impugned Act to protect the rights of married <keyword id="19943278" type="General" weightage="20" keywordseo="Muslim-women" source="keywords">Muslim women</keyword> who are being divorced by triple talaq. "The impugned Act helps in ensuring the larger constitutional goals of <keyword id="20809677" type="General" weightage="20" keywordseo="gender-justice" source="keywords">gender justice</keyword> and <keyword id="20250318" type="General" weightage="20" keywordseo="gender-equality" source="keywords">gender equality</keyword> of married Muslim women and helps subserve their fundamental rights of non-discrimination and empowerment," the affidavit said. On 22 August 2017, the <keyword id="19936355" type="General" weightage="20" keywordseo="apex-court" source="keywords">apex court</keyword> had declared instant triple talaq (talaq-e-biddah) unconstitutional. On August 23, 2019, the top court agreed to examine the validity of the Muslim Women (Protection of Rights on Marriage) Act, 2019. Violation of the law entails imprisonment of up to three years. Two Muslim organisations -- <keyword id="22278513" type="General" weightage="20" keywordseo="Jamiat-Ulama-I-Hind" source="keywords" meta.keywordsubtype="org" meta.entityname="Jamiat Ulama-I-Hind" meta.hostid="261" meta.entityid="Jamiat Ulama-I-Hind">Jamiat Ulama-I-Hind</keyword> and Samastha Kerala Jamiathul Ulema -- have urged the court to declare the law "unconstitutional". Jamiat claimed in its petition that "criminalising a mode of <keyword id="19911325" type="General" weightage="20" keywordseo="divorce" source="keywords">divorce</keyword> in one particular religion while keeping the subject of marriage and divorce in other religions only within the purview of civil law, leads to discrimination, which is not in conformity with the mandate of Article 15".

Centre defends 2019 law on triple talaq in SC, says practice 'fatal' for marriage

With Indians rushing to file their ITRs ahead of the July 31st deadline that's coming up tomorrow, did you know that residents of just one Indian state are exempt from filing <keyword id="19901478" type="General" weightage="20" keywordseo="income-tax" source="keywords">income tax</keyword> returns, or paying taxes at all? Yes, <keyword id="19903425" type="General" weightage="20" keywordseo="Sikkim" source="keywords">Sikkim</keyword> is the only state in the country where the residents do not have to pay income tax. But why is that the case? Let's delve into it. An erstwhile princely kingdom for almost 333 years prior to its amalgamation, Sikkim merged into independent India in 1975, thereby becoming the country's 22nd state. But this happened on one condition- that it will be allowed to continue with its old <keyword id="21152786" type="General" weightage="20" keywordseo="tax-laws" source="keywords">tax laws</keyword> post the merger. Sikkim has its own income tax manual, which stipulated that no resident of Sikkim was to pay taxes to the center. Hence, honoring the merger agreement, the Indian government granted a special tax exemption to Sikkimese residents from Indian income tax regulations. This changed in 2008, when the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union budget</keyword> repealed the state's tax laws. However, to maintain the exemption status enjoyed by the state's residents, it inserted section 10 (26AAA). Under this section, any income generated by a Sikkimese, be it from a source within the state, or by way of dividend or interest on securities, would be tax-exempt. At present, any individual who has been domiciled (noted as having fixed, principal and permanent residence) in Sikkim as of April 26, 1975 would be considered a Sikkimese, and hence, exempt from paying income tax. As per data from PRS Legislative Research, the state's estimated own tax revenue for 2023-24 stood at Rs 1,727 crore. However, if a Sikkimese has rental income from properties situated outside of the state, or has an income from source that is not located in Sikkim, it will be subject to relevant taxes. Nevertheless, the provisions of tax exemptions would not apply to any Sikkimese woman, who marries a non-Sikkimese or an outsider, on or after April 1, 2008. Market regulator SEBI has also exempted residents of Sikkim from mandatorily having a PAN card for investing in Indian stock markets, equities, cash market and even mutual funds. <h2>Decoding Section 10 (26) of the IT Act</h2>All these income-tax exemptions also extend to a few other regions in the country, but only if you are a member of the scheduled tribes. Section 10(26) of the Income Tax Act applies to Ladakh, Arunachal Pradesh, Manipur, Mizoram, Nagaland and <keyword id="19919396" type="General" weightage="20" keywordseo="tripura" source="keywords">Tripura</keyword>, along with the North Cashar hills district, Karbi Anglang district, Chakma district, Mara district, and Lai District. Simply put, it stipulates that if you belong to the scheduled tribes and generate any income, the source of which lies in the above mentioned regions, or by way of dividend or interest on securities, your income would be tax-exempt. But any income generated outside of these regions would be taxable.

Did you know about the only Indian state exempt from paying any income tax? Know all about it here

Byju's Founder <keyword id="1702989" type="General" weightage="100" keywordseo="Byju-Raveendran" source="Orion">Byju Raveendran</keyword>'s plea against the insolvency of <keyword id="19901241" type="General" weightage="20" keywordseo="Think-Learn" source="keywords">Think &amp; Learn</keyword> before the NCLAT was adjourned on Monday, as one of the members of the bench recused from the hearing. The matter will be placed before a bench headed by <keyword id="19916403" type="General" weightage="20" keywordseo="National-Company-Law-Appellate-Tribunal" source="keywords" meta.keywordsubtype="org" meta.entityname="National Company Law Appellate Tribunal" meta.hostid="345" meta.entityid="National Company Law Appellate Tribunal">National Company Law Appellate Tribunal</keyword> (NCLAT) Chairman Justice Ashok Bhushan, who will assign a different bench to hear the matter. Raveendran had filed a petition challenging the initiation of <keyword id="19965539" type="General" weightage="20" keywordseo="insolvency-proceedings" source="keywords">insolvency proceedings</keyword> against Think &amp; Learn, which runs edtech company Byju's. The matter was listed on Monday before a two-member Chennai-based bench of the NCLAT comprising Justice Sharad Kumar Sharma, Member (Judicial), and Jatindranath Swain, Member (Technical). However, Justice Sharma recused himself from the hearing, saying he had appeared as the counsel for the Board of Control for Cricket in India (<keyword id="19901245" type="General" weightage="20" keywordseo="BCCI" source="keywords" meta.keywordsubtype="org" meta.entityname="BCCI" meta.hostid="345" meta.entityid="BCCI">BCCI</keyword>) before his elevation. "I have appeared as a senior counsel for (the) BCCI. Since they are the main beneficiaries of this order, I cannot take this up," said Sharma. The Bengaluru bench of the National Company Law Tribunal (<keyword id="19901085" type="General" weightage="20" keywordseo="NCLT" source="keywords">NCLT</keyword>) on July 16 directed Corporate Insolvency Resolution Proceedings (CIRP), admitting the plea filed by the BCCI. The BCCI had approached the NCLT under the Insolvency and Bankruptcy Code (IBC) over a default of Rs 158.9 crore by Think &amp; Learn -- once India's most valuable startup worth an estimated $22 billion. NCLT has suspended the board of Think &amp; Learn Pvt Ltd as per the provisions of the IBC and had appointed an interim resolution professional (IRP) to take care of the debt-ridden firm. Raveendran challenged the NCLT order before the appellate tribunal NCLAT. He has also approached the Karnataka High Court. The high court had, on July 26 deferred Raveendran's plea to July 30. At the high court, Raveendran challenged the validity of the order and suspension of the NCLT order till the NCLAT hears the appeal.

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Did you know about the only Indian state exempt from paying any income tax? Know all about it here

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