Showing posts with label be. Show all posts
Showing posts with label be. Show all posts

Sunday, April 9, 2017

Govt says deposits above Rs 2 5 lakh to be taxed Your 4 questions answered

Govt says deposits above Rs 2 5 lakh to be taxed Your 4 questions answered



?“The tax amount plus a penalty of 200 per cent of the tax payable would be levied as per the Section 270(A) of the Income Tax Act.”

?In another late night announcement, the government warned that cash deposits above Rs 2.5 lakh during the 50-day window to return 1000 and 500 rupee notes could be taxed while a 200% penalty would be applied to deposits that don’t match declared incomes.

?“We will be getting reports of all cash deposited during the period of November 10 to December 30, 2016, above a threshold of Rs 2.5 lakh in every account. The (tax) department would do matching of this with income returns filed by the depositors.

?Cash deposits above Rs 2.5 lakh could attract tax and penalty and authorities might take away 90% of your money if there is an income mismatch, according to a government decision on Wednesday.

?The announcement came a day after Prime Minister Narendra Modi created a flutter by abolishing 1000 and 500 rupee banknotes in a move to flush out money hidden from the tax man. New 500 and 2000 rupee bills will replace about 86% of all currency in circulation by value.

?Hasmukh Adhia said small businessmen, housewives, artisans and workers who had some cash lying as their savings at home need not be worried about any tax department scrutiny.

?“Such group of people need not worry about deposits up to Rs 1.5 or 2 lakh since it would be below the taxable income. There will be no harassment by the Income Tax Department for such small deposits made,” he said.

?For people buying jewellery, he said the PAN number will need to be given.

?“We are issuing instructions to the field authorities to check with all the jewellers to ensure this requirement is not compromised. Action will be taken against those jewellers who fail to take PAN numbers from such buyers. When the cash deposits of the jewellers is scrutinised against the sales made, whether they have taken the PAN number of the buyer or not will also be checked,” 



Revenue secretary Hasmukh Adhia answers the four frequently asked questions:


1.A lot of small businessmen, housewives, artisans, workers may have some cash lying around as their savings at home. Will the income tax department ask questions if the same is deposited in banks?

Such group of people, as mentioned in the question, need not worry about such small amount of deposits up to Rs 1.5-2 lakh, since it would be below the taxable income. There will be no harassment by income tax department for such small deposits made.

2.Will the income tax department be getting reports of cash deposits made during this period? If so, will the current threshold of reporting requirement of reporting cash deposits of more than Rs 10 lakh will only continue?

We would be getting reports of all cash deposited during the period of November 10 to December 30 above a threshold of Rs 2.5 lakh in every account. The department would match this with income returns filled by the depositors. And suitable action may follow.

3.Suppose the department finds that huge amount of cash above Rs 10 lakh is deposited in a bank account, which is not matching with the income declared, what would be the tax and penalty to be paid on the same?

This would be treated as a case of tax evasion and the tax amount plus a penalty of 200% of the tax payable would be levied as per the section 270(A) of the income tax act.

4.It is believed that a lot of people are buying jewellery now. How does department plan to tackle this?

The person who buys jewellery has to give his PAN number. We are issuing instructions to the field authorities to check with all the jewellers to ensure that this requirement is not compromised. Action will be taken against those jewellers who fail to take PAN numbers from such buyers. When the cash deposits of the jewellers would be scrutinised against the sales made, whether they have taken the PAN number of the buyer or not will also be checked

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Monday, March 13, 2017

Latest Job Vacancy In Nigeria And Tips On How To Be Employed 2016 2017

Latest Job Vacancy In Nigeria And Tips On How To Be Employed 2016 2017



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Latest Job Vacancy In Nigeria And Tips On How To Be Employed 2016/2017 - Nigeria been the most populated country in the Africa today with over 374.6 million citizens and  with over 206.1 million of them with in the age of labor force. In this article we shall be looking at  Latest Job Vacancy In Nigeria 2016/2017 And Tips On How To Be Employed.


We have have been receiving calls form our fans consigning job vacancies in Nigeria and how to apply and get employed. Based on that we shall be out listing the Latest Job Vacancy In Nigeria 2016/2017 and their locations and must importantly the tips on how to get employed, be it in Government sector or Private organization.

However we are not deceitful and we are not going to mislead any body into the hands of feud stars  that will end up not giving you a job. That is the major reason why we confirm  from the Government or Private establish organization before informing the general public on any new development relating to 2016/2017 Latest Job Vacancy In Nigeria.

Below Are Latest Job Vacancy In Nigeria 2016/2017.


Black Gold Media - Black Gold Media is a private organization that is into entertainment industry in Nigeria. Who duty is to produce interesting films.

POSITION: ENTERTAINMENT WRITER

Black Gold Media yesterday advance of the  office of the entertainment writer in to the company. According to the advate by the media officer of the company. " It was stated that an experienced entertainment writer is urgently needed by Black Gold Media.

LOCATION: Ogba Lagos, Nigeria.

Click Here: Nigeria Police Academy 2016 Application Form Is Out


Method Of Application

Note: All interested applicant of the office of entertainment writer into Black Gold Media should kindly send their CV and cover letter to  bgmedialtd@gmail.com.

Tips On How To Be Employed

 We shall be looking that five (5) major tips on how to get 2016/2017 Latest Job Vacancy In Nigeria.

   *  Identify your transferable skills
   *  Set a goal to yourself
   *  Network ( Information ) 
   *  Never you give up
   *  Have a plan-B   

Identify your transferable skills: Indeed, i must tell you my brothers and sisters, that one of the major ways of getting 2016/2017 Latest Job Vacancy In Nigeria is by identifying yourself and knowing the jobs that best suit you. Once that is done and you know the work that you will sell perfectly in and excel perfectly in with or without the assents of anybody.

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Set a goal to yourself: Getting a job for yourself is as easy as ABC, but first you must have to set a working goal to yourself. If you want to get, say 3 interviews per month, then you might have to apply for 12 positions per week. Set objectives for networking, applications, interviews, skill development, research.

Network ( Information ): Many Nigerians will always sit down in their house and be thinking on how to get good job opportunity without working to actualize  it into been. Information as there say is to key to success and anybody seeking good job in Nigeria must be online and most also call his/her friends in other offices to know if their is a job vacancy.

 Never you give up: Indeed as their say " noting good good comes easy " and for you to employment in the present day economy of Nigeria you need not to wait for your ideal job or give up for any reason here on earth because you have goon to any job interview and non favors you. Tender your application letter again and again and pray that one day the Lord shall bless you effort.

Have a plan-B: In life it is necessary of one to have a plan-B in all he those  on daily bases. If you have ties and it seems that all doors are lock why dont you think of being the boos of your own by starting up a business plan of your own and working towards making it outstanding and great. Many who has looked back to the changes of their careers have come to say that indeed, this is the best thing that very ever happen in my life.

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Saturday, March 11, 2017

– 30 000 youths are expected to be employed by Dangote by 2019

– 30 000 youths are expected to be employed by Dangote by 2019


Alhaji Aliko Dangote is set to put smiles on the faces of 30,000 unemployed youths as his 17 billion-dollar refinery project is set to provide jobs to the employed in the country.
In an interview with NAN, Mr Olakunle Alake who is the chief operating officer of Dangote Industries Limited said that by the first quarter of 2019, the company would have employed Nigerians.
Professor Yemi Osinbajo, Governor Akinwunmi Ambode and Alhaji Aliko Dngote at his refinery
Alake noted that the refinery which is located in Lagos would be the single largest stream in the world.
READ ALSO: Sale of national assets: President Buhari under fire
He said: “The refinery and fertiliser projects will create job opportunities for the communities and Nigerians when it becomes operational.
“The refinery will have a refining capacity of about 650,000 barrels of crude a day.”
He noted that local refining of petrol will bring the price down and help the country to save money.
The project which also has petrochemicals and fertiliser plants is expected to help in the country’s plan for diversification.
He said that 98 per cent of basic engineering on the fertiliser plant had been executed, while the construction had progressed by 30 per cent.
“By the time we finish our gas pipeline it will be able to generate about 12,000mw which can be exported to other African countries.
“We will have the capacity to store four billion litres of products and load 2,680 trucks per day.
“The project will aid the country with about 7.5 billion dollars forex savings on importation.
“It will also generate five billion dollars forex earnings from savings and another 5.5 billion dollars export earnings.”
Alake noted that by 2019, Nigeria will be able to save five billion dollars on oil importation.
He expressed optimism in a readily available market to purchase the oil only three countries in Africa had effective and functional refineries.
“By the time we complete this project, there will be opportunity to take on agriculture and say bye to poverty because there will be jobs; no sector has more job potential than agriculture.
Dangote’s Lagos plant is expected to generate 30,000 jobs for Nigerians
“Though the project is an ambitious one but when completed it will give Nigeria a new economic direction in its quest for economic diversification.’’
“That is when diversification starts.”
“We aim to complete the projects within the time frame to assist in easing the forex problem.
“We appeal to the Federal Government to support these private initiatives by providing funding for the projects.
“However, government through the Bank of Industry schemes has given us a credit facility of N50 billion to develop the fertiliser plant.
“We have also gotten another N75 billion approval for the refinery, which we have not yet accessed.”
Dangote is the highest employer of labour after the federal government and is African’s richest man.


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