Latest news with #AIS
Time of India
2 hours ago
- Automotive
- Time of India
Next-gen road ambulances to have vital equipment to extricate injured crash victims
NEW DELHI: To ensure that road crash victims get medical assistance in the quickest possible time, the next-generation ambulances will have equipment such as glassbreak or window punch tool, rescue axe, bolt cutter, heavy-duty hydraulic jack and basic vehicle tool set to extricate persons trapped inside vehicles, as happens often after accidents. The Centre is finalising changes in the Automotive Industry Standards (AIS) for ambulances to ensure availability of these equipment in the vehicles and has published the draft notification. Some of the ambulances will be equipped to transport sick or premature newborns from one hospital to another for better care and function as neonatal ambulance. There will be multiple stretcher ambulances also to help in road crashes, fires and other accidents or disasters. The draft AIS mentions nine pieces of equipment that ambulances must have, besides a fire extinguisher and respiratory protection masks. 'The changes needed will be incorporated soon,' said an official. T he ambulances will also have LED flashlights or torches, reflective warning triangles, emergency light bars and reflective safety jackets for all crew members to avoid an accident during rescue operations. These changes gain importance considering that there have been several instances of ambulances not being of much use even after reaching accident sites, as the injured trapped inside vehicles could not be taken out on time. Road transport minister Nitin Gadkari has been stressing the need to equip ambulances with such equipment and train their personnel to use them. 'Most of the time it is difficult to find or source cutting tools after crashes. More often than not, ambulances and cranes parked at toll plazas are showpieces, being non-functional,' he has said on several occasions. As per some estimates, lives of around 50% of road crash victims could be saved if they get medical help in the first, or golden, hour.
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Business Standard
8 hours ago
- Business
- Business Standard
High-value transactions can catch IT dept's eye: Here's what to watch for
Individuals making high-value transactions must tread carefully as the Income Tax department keeps a close watch on such deals. Any mismatch between income reported and lifestyle reflected through transactions can trigger a tax notice. Here's how to stay on the right side of the law. What can trigger scrutiny? According to Amit Bansal, partner, Singhania & Co., the tax department pays special attention to transactions that appear inconsistent with a person's income profile. These include: Cash deposits exceeding Rs 10 lakh in a savings account in one financial year Credit card payments above Rs 1 lakh in cash or over Rs 10 lakh by cheque or digital modes Investment in mutual funds, stocks, bonds exceeding Rs 10 lakh in a year Purchase or sale of immovable property worth Rs 30 lakh or more Foreign exchange transactions crossing Rs 10 lakh annually Large insurance premiums or unusually high-value donations 'These transactions are routinely flagged under the Statement of Financial Transactions (SFT) filed by financial institutions, enabling tax authorities to detect discrepancies,' says Bansal. Mandatory reporting limits to know Bansal explains that financial entities must report the following under SFT: Savings account deposits: Over Rs 10 lakh Current account deposits: Over Rs 50 lakh Credit card payments: Above Rs 10 lakh annually Mutual funds, debentures, shares: Over Rs 10 lakh invested in a financial year Property transactions: Valued at Rs 30 lakh or more Foreign exchange purchases: Over Rs 10 lakh in a year Knowing these thresholds helps taxpayers understand what activity might be visible to the tax department even if they haven't disclosed it themselves. How to stay compliant? Taxpayers must follow best practices to avoid triggering a notice. Kunal Savani, partner, Cyril Amarchand Mangaldas, advises individuals to maintain complete and accurate records. 'File returns timely, disclose all sources of income including exempt income, and keep documentation like bank statements, invoices, and proof of fund sources,' says Savani. Bansal adds that ensuring payments are made through traceable banking channels, verifying entries in the Annual Information Statement (AIS) and Form 26AS, and aligning your return details with actual transactions are critical. 'Professional help is recommended for big transactions like property deals or foreign remittances,' he says. Received a tax notice? Here's what to do 'Don't panic,' says Bansal. The first step is to read the notice carefully, understand the issue raised, and gather all relevant documents, like property papers, bank records, or transaction proofs. Timely and transparent response via the Income Tax e-filing portal is essential. 'If the case is complex, consult a chartered accountant to ensure your response is accurate and comprehensive,' Bansal suggests. Timely cooperation can resolve most issues without further escalation. Bottom line: If you're making high-value transactions, ensure you're not only financially prepared. But also tax-compliant. The taxman knows more than you think.
New Straits Times
2 days ago
- General
- New Straits Times
Indonesia confirms US warship's passage through Straits of Melaka
JAKARTA: Indonesia's military said Saturday that the United States (US) aircraft carrier USS Nimitz was transiting the Straits of Melaka in line with international maritime law when it was last detected last week. The vessel was travelling from the South China Sea to the Indian Ocean via the Singapore Strait and the Straits of Melaka, the Indonesian Armed Forces Information Centre (Puspen TNI) said. "The ship was exercising its right of transit passage under the 1982 UN Convention on the Law of the Sea (UNCLOS)," the centre's head, Major General Kristomei Sianturi, stated in a statement. He noted that the convention allows foreign warships to pass through international straits without prior notification, provided they do not pose a threat to the security of coastal states. The statement came in response to public concern after a video showing the vessel near Aceh province on June 17 circulated widely on local social media, amid rising tensions in the Middle East involving Israel and Iran. According to the Indonesian navy, the USS Nimitz was last detected with its automatic identification system (AIS) active in waters north of Belawan, near Medan in North Sumatra, on Tuesday.
Barnama
2 days ago
- Politics
- Barnama
Indonesia Confirms US Warship's Passage Through Strait Of Malacca
By Mohd Iswandi Kasan Anuar JAKARTA, June 21 (Bernama) -- Indonesia's military said Saturday that the United States (US) aircraft carrier USS Nimitz was transiting the Strait of Malacca in line with international maritime law when it was last detected last week. The vessel was travelling from the South China Sea to the Indian Ocean via the Singapore Strait and the Strait of Malacca, the Indonesian Armed Forces Information Centre (Puspen TNI) said. bootstrap slideshow 'The ship was exercising its right of transit passage under the 1982 UN Convention on the Law of the Sea (UNCLOS),' the centre's head, Major General Kristomei Sianturi, stated in a statement. He noted that the convention allows foreign warships to pass through international straits without prior notification, provided they do not pose a threat to the security of coastal states. The statement came in response to public concern after a video showing the vessel near Aceh province on June 17 circulated widely on local social media, amid rising tensions in the Middle East involving Israel and Iran. According to the Indonesian navy, the USS Nimitz was last detected with its automatic identification system (AIS) active in waters north of Belawan, near Medan in North Sumatra, on Tuesday. Kristomei said the Indonesian Armed Forces continued to monitor all foreign maritime activity in the country's waters and remained vigilant in safeguarding national sovereignty. -- BERNAMA
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Business Standard
3 days ago
- Business
- Business Standard
Taxman knows more than you think: Here's why clean ITR filing matters
Some taxpayers underreport income or inflate deductions in order to save money that goes to the government. But experts warn that this is a high-stakes gamble in today's data-driven tax environment. With the Income Tax Department now armed with sophisticated tools and deep access to financial information, from your bank transactions and property deals to your stock market activity, there's little room to hide. Taxman's eyes everywhere: What the department already knows 'The Income Tax Department gets financial data from multiple channels, banks, mutual funds, employers, registrars, and more,' says Suresh Surana, charter accountant. This includes: TDS/TCS details from Form 24Q/26Q High-value transactions under the Statement of Financial Transactions (SFT) Integrated PAN-linked records from property sales, share investments, and foreign remittances Salary, rent, capital gains, and GST data through the Annual Information Statement (AIS) and Form 26AS According to Kinjal Bhuta, secretary of the Bombay Chartered Accountants' Society, the department also uses 'AI tools, regulatory data-sharing, and even social media activity' to detect suspicious patterns. Common mistakes (and misdeeds) that can trigger trouble From fudging rent receipts to ignoring side income, many taxpayers, especially salaried and self-employed, unknowingly (or knowingly) cross the line. 'False Section 80C claims, hiding freelance income, or underreporting cash sales are frequent issues,' says Sudhir Kaushik, chief executive officer of TaxSpanner. Surana adds that claiming deductions without valid proofs or routing business income through personal accounts is another red flag. Bhuta also warns against 'non-disclosure of foreign assets, ignoring bank interest, or assuming that TDS alone covers tax obligations.' Penalties can be steep, even jail time Taxpayers caught misreporting face penalties under Section 270A: 50 per cent of tax due for underreporting 200 per cent if it's deemed wilful misreporting 'In extreme cases,' says Surana, 'Section 276C can trigger prosecution with jail up to seven years if tax evasion exceeds Rs 25 lakh.' Kaushik concurs, 'With AIS and digital tracking, ignorance is no longer a valid excuse.' Staying safe: Honest filing starts with these steps Experts say the best protection is vigilance. Cross-check prefilled ITRs with your Form 16, AIS and TIS Report all income salary, capital gains, FD interest, foreign income Correct mismatches, if any, and maintain proof for deductions 'Even exempt income like agricultural earnings should be disclosed,' says Bhuta. TaxBuddy's founder, Sujit Bangar adds, 'AIS should be your checklist. If a transaction appears there, explain or report it.' As Kaushik puts it, 'Tax transparency is tighter than ever. The best strategy is to stay ahead by being accurate.'
