I-T refunds worth ₹ 1.64 lakh crore issued to 1.41 crore taxpayers till Jan 4
The Income Tax department on Wednesday said it has issued refunds worth over ₹ 1.64 lakh crore to over 1.41 crore taxpayers so far this fiscal.
This includes Personal income tax (PIT) refunds amounting to ₹ 53,070 crore and corporate tax refunds of over ₹ 1.10 lakh crore during this period.
"CBDT issues refunds of over ₹ 1,64,016 crore to more than 1.41 crore taxpayers between 1st April, 2020 to 04th January, 2021. Income tax refunds of ₹ 53,070 crore have been issued in 1,38,85,044 cases & corporate tax refunds of ₹ 1,10,946 crore have been issued in 2,06,847 cases," the Income Tax department tweeted.
The Department on Tuesday had said that over 5 crore income tax returns (ITRs) for fiscal year 2019-20 have been filed till January 4.
The government has extended the ITR filing deadline for individuals till January 10, and for companies till February 15.
Iran Tells U.S. It May Avenge Soleimani ‘In Your House’: Tasnim
The head of Iran’s elite Quds Force said Iran may take revenge for the U.S. killing of his predecessor Qassem Soleimani “in your house,” the semi-official Tasnim news agency reported.
“You no longer have peace in your own houses and it’s not unlikely that we take revenge in your house,” Esmail Ghaani said at a speech on Wednesday in the city of Kerman, as part of events for the anniversary of Soleimani’s killing last year.
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Chinese regulator says it will avoid disorderly fluctuation in 2021 currency market
BEIJING/SHANGHAI, Jan 6 (Reuters) – China’s foreign exchange regulator said on Wednesday it will avoid disorderly fluctuation in the currency market in 2021.
The State Administration of Foreign Exchange (SAFE) said it will also improve capital management of foreign institutions’ onshore equity and bond issuance, while encouraging financial institutions to introduce more FX derivatives to meet market demand.
Mnuchin Arrives in Sudan for Talks on Economic Crisis, Aid
Treasury Secretary Steven Mnuchin arrived in Sudan for talks on the economy, the latest U.S. official to visit the North African country that’s rebuilding ties with Washington after decades as a pariah.
Mnuchin is due to meet the chairman of Sudan’s Sovereign Council, Abdel Fattah al-Burhan, and Prime Minister Abdalla Hamdok during Wednesday’s visit, according to the state-run news agency SUNA.
Economic aid will be among the issues discussed, SUNA cited a foreign ministry official as saying before the visit. The U.S. in mid-December rescinded Sudan’s almost three-decade designation as a state sponsor of terror, paving the way for it to rejoin the global community and boost its ravaged economy after the ouster of long-time dictator Omar al-Bashir in 2019.
Mnuchin arrived from Egypt, where on Tuesday he discussed with President Abdel-Fattah El-Sisi the Palestinian issue and the megadam Ethiopia is building on a Nile River tributary, according to a statement from the Egyptian presidency.
— With assistance by Abdel Latif Wahba
Taiwan forex reserves rocket in December, log record monthly rise
TAIPEI, Jan 6 (Reuters) – Taiwan’s foreign exchange reserves rose by $16.514 billion in December, the fastest monthly rise on record, the central bank said on Wednesday, adding it had had to intervene in the forex market owing to the flood of foreign capital.
Taiwan’s foreign currency reserves hit $529.911 billion in total last month, the central bank added.
Israel to Tighten Lockdown as Coronavirus Cases Soar
Israel will tighten lockdown restrictions in a bid to reverse the sharp rise in coronavirus infections that’s taking place as vaccine supplies dwindle.
The cabinet voted to close all schools and non-essential businesses for two weeks, beginning midnight Thursday. Airline travel will be permitted only for those who purchased tickets before.
A partial lockdown, which began Dec. 27 and restricted movement and banned most client-facing business activity, hasn’t managed to tame the virus.
While Israel says it has inoculated about 15% of the population with a first dose of vaccine, it is running low on supply. Second doses have been set aside for those already immunized, but the government has warned that there will be a lull in new inoculations until more supplies arrive.
A first shipment of 100,000 Moderna Inc. doses are to arrive this week, according to reports in the local press.
The virus variant identified in Britain is spreading in Israel as well, exacerbating the outbreak, according to the government. More than 8,000 new cases in the country of 9.3 million were confirmed in each of the past two days, bringing the total since the beginning of the pandemic to more than 458,000, including 3,495 fatalities.
Sartorius Stedim Biotech To Buy Chromatography Process Equipment Unit Of Novasep
French biopharmaceutical company Sartorius Stedim Biotech, affiliated to Germany’s Sartorius AG (SDMHF.PK), announced Wednesday that it has entered into an agreement to acquire the chromatography process equipment division of Novasep.
The companies agreed not to disclose the purchase price until the necessary regulatory approvals have been obtained.
Novasep’s division expects to generate sales revenue of approximately 37 million euros in 2020 at double-digit profit margins. The unit employs approximately 100 people, the majority of whom work at its Pompey site in northern France and some in the USA, China and India.
Sartorius expects to close the deal during the first half of 2021, subject to antitrust approvals and the information and consultation of Novasep’s works council.
Novasep’s chromatography unit comprises resin-based batch and intensified chromatography systems. It mainly focuses on high-pressure, multi-use applications for smaller molecules, such as oligonucleotides, peptides and insulin.
Since 2018, both companies have been collaborating in the joint development of an optimized system for a membrane-based, low-pressure chromatography that processes larger molecules more productively. The system will be launched soon.