L&T shipyard completes order for 54 fast interceptor boats ahead of time

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In an emphatic statement of warship building capability in the private sector, Larsen & Toubro’s Hazira shipyard handed over the last vessel in an order of 54 fast interceptor craft to the Coast Guard on Sunday — ahead of time and within the budget.


With the four public sector shipyards — Mazagon Dock, Mumbai; Garden Reach Shipbuilders & Engineers, Kolkata; Goa Shipyard; and Hindustan Shipyard, Visakhapatnam — invariably delivering warships years behind schedule and beyond budget, L&T has staked a powerful claim to be considered for future shipbuilding orders.



The FICs delivered to the Coast Guard are 90-tonne vessels that can patrol the coastline at a scorching speed of 45 knots (83 kilometres per hour). L&T has built the 54 vessels for just under Rs 1,500 crore.


L&T is now contending strongly for a number of naval contracts.


The biggest of these, which will indicate how serious the defence ministry is about bringing in the private sector into defence production, is for building six New Generation Missile Vessels (NGMVs) for an estimated Rs 13,600 crore. Multiple shipyards submitted bids in February in response to the navy’s Request

How to reduce the business or personal tax you will pay this year

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One good way to focus on tax savings this year is to ensure you have a tax plan.  Unless you specifically plan to save it is very unlikely to happen.

And in addition, you are likely to pay more tax than necessary. This applies to both business and personal tax.

Avoid retrospective tax planning and aggressive tax schemes – Jonathan Amponsah CTA FCCA, The Tax Guys explains here that there might be are areas you or your accountant have neglected. Despite what you may have heard, there are still plenty of legitimate ways to save tax and sleep well at night.

Let’s look at some areas where tax can often be saved so that you can see if they are likely to apply to your situation:

Save Income Tax by Using A Property Company

If you’re a landlord with a portfolio of properties in your name, you’re likely to be paying more tax via the self-assessment system because of the recent changes in property tax and, notably, the mortgage interest restriction. Companies are not affected by the mortgage interest restriction and they do pay lower rates of tax. However please do seek specialist tax advice because there are some tax

25,000 defaulting taxpayers to be persuaded to file GST returns by Nov 30

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The Network (GSTN) along with tax officials have decided to persuade 25,000 taxpayers, who have defaulted to file their GSTR-3B returns by the November 20 due date for the month of October, to file the same.


Tax officials have been directed to follow up personally with these defaulting so that their GSTR-3B returns due for October get filed by Nov 30.



These 25,000 taxpayers, who have not yet filed their returns, were identified on the basis of last month’s statistics, said sources in the Department of Revenue on the condition of anonymity, after a high-level review meeting of the officials.


According to sources, in the review meeting, it was highlighted that about 25,000 top of the last month have not yet filed their returns this month. Also, that so far this month, about 80 lakh GSTR-3B returns have been filed. It was also decided at the meeting that all such who have not yet filed their returns shall be sent SMS and email communications and the GST registration cancellation process can be started for about 5.43 lakh taxpayers who have not filed

IndiGrid inks pact to acquire 74% stake in Parbati Koldam from Reliance Infra

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India Grid Trust on Saturday said that it has inked an agreement to acquire 74 per cent stake in Parbati Koldam TransmissionCompanyfrom


“India Grid Trust has signed sharepurchase agreement on November 28th, 2020 for acquisition of 74 per centin Parbati Koldam TransmissionCompany Ltd(PKTCL) from Ltd,” a BSE filing said.



The completion of acquisition would dependupon receipt of relevant approvals and completion of contractual obligations, it added.


According to filing, the implied enterprise value (for 100% equity shares) is Rs900 croreinclusive of cash & cash reserves andnormalised tariff receivables, subject to adjustments on account of movement in cash, deviation in outstandingdebt, tariff receivables, assets, liabilities outstanding.


PKTCL was incorporated on September 2, 2002. PKTCLis joint venture between Limited (74%) and Power Grid Corporation of India Limited(26%).


PKTCL operates 458 circuitkilometres of transmission lines constituting inter-statetransmission system for evacuation of power from theParbati-II HEP implemented by NHPC Limited andKoldam HEP implemented by NTPC Limited.


The Assetwas fully commissioned in June 2015. During the FY2019-20, PKTCL had a total Revenue of Rs 209 crores.

(Only the headline and picture of

French Protesters Clash With Police Over New Security Law

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Violent clashes erupted in Paris Saturday as tens of thousands took to the streets to protest against new security legislation, with tensions intensified by the police beating and racial abuse of a black man that shocked France.

Several fires were started in Paris, sending acrid smoke into the air, as protesters vented their anger against the security law which would restrict the publication of police officers’ faces.





Protesters are calling for the controversial article to be withdrawn
 AFP / JEAN-FRANCOIS MONIER

Some 46,000 people marched in Paris and 133,000 in total nationwide, the interior ministry said. Protest organisers said some 500,000 joined nationwide, including 200,000 in the capital.

President Emmanuel Macron said late Friday that the images of the beating of black music producer Michel Zecler by police officers in Paris last weekend “shame us”. The incident had magnified concerns about alleged systemic racism in the police force.



The article in the "global security" draft law seeks to limit filming and photographing police officers on duty with the intent of harming their "physical or psychological integrity


The article in the “global security” draft law seeks to limit filming and photographing police officers on duty with the intent of harming their “physical or psychological integrity”
 AFP / JEAN-FRANCOIS MONIER

“Police everywhere, justice nowhere” and “police state” and “smile while you are beaten” were among the slogans brandished as protesters

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