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HM 25 MAY Page 08.Qxd 8 JAMMU TUESDAY MAY 25, 2021 NEWS The Himalayan Mail This bank's IFSC codes to be COVID-19 vaccine: Bharat Biotech to seek disabled from July 1 emergency use listing from WHO for Covaxin NEW DELHI, MAY and the last six characters NEW DELHI, MAY risk-benefit assessment for 24: IFSC or Indian Finan- representing the branch. 24: Bharat Biotech is likely an independent recommen- cial System Code is an al- The fifth character is zero. to hold a pre-submission dation on whether a vaccine pha-numeric code that In 2019, Finance Minis- meeting with the World can be listed for emergency uniquely identifies a ter Nirmala Sitharaman Health Organization use and, if so, under which bank-branch for online had announced merger of (WHO) this month or in conditions. June before applying for fund transfer through Syndicate Bank into Ca- The assessment process emergency use listing NEFT, RTGS and IMPS. nara Bank as part of the may also include on-site in- (EUL) for its COVID-19 vac- After merger of Syndi- Centre's plan to consoli- spection of production facil- cine Covaxin. cate Bank with Canara date 10 state-owned banks ity. A guidance document on Bank, all eSyndicate IFSC to four mega banks to Bharat Biotech has so far WHO website, updated last codes starting with SYNB make them more competi- not produced the complete week, showed that Bharat phase III trial data for Cov- have been changed, Ca- tive. The merger came Biotech submitted expres- nara Bank said. into effect from April 1, axin. Announcing the in- sion of interest for EUL on terim results from Phase III All the IFSC codes of all eSyndicate IFSC codes ing NEFT/RTGS/IMPS, 2020. phase III clinical trial data EUL assesses the quality, April 19. However, the trials of Covaxin, Bharat Syndicate Bank will be starting with SYNB have from now itself," the bank Earlier in February, In- as well as substantial addi- safety and efficacy of health agency sought more Biotech had in April said disabled from July 1 be- been changed. All the added.IFSC or Indian Fi- dian Bank had informed details from the company. tional data on safety, effi- COVID-19 vaccines, as well cause of its merger with IFSC starting with SYNB nancial System Code is an that branch codes and cacy, quality and a risk as risk management plans that the vaccine showed an WHO's EUL is a prereq- overall interim clinical effi- Canara Bank. Syndicate will be disabled with effect alpha-numeric code that IFSC codes of erstwhile uisite for COVAX facility management plan. and programmatic suitabil- Bank's customers will now from 01.07.2021," Canara uniquely identifies a Allahabad Bank branches "In the pre-submission ity, such as cold chain re- cacy of 78 per cent and 100 vaccine supply. It also al- per cent efficacy against se- have to use the new IFSC Bank said on its website. bank-branch for online would change because of lows countries to expedite meeting, Bharat Biotech quirements. The assess- vere COVID-19 disease. codes for their bank "We request you to in- fund transfer through its merger with the for- their own regulatory ap- will state what data they ment is performed by the WHO has so far given branch. form the remitters NEFT, RTGS and IMPS. mer. The bank had said proval to import and ad- have and will receive guid- product evaluation group, EUL to COVID-19 vaccines "This is to inform that (senders) to use only your It's a 11-digit code with the new IFSC codes would be minister COVID-19 vac- ance from the WHO on composed by regulatory ex- after merger of Syndicate new IFSC code starting first four alpha characters effective from February cines. what documents have to be perts from around the of Pfizer/BioNTech, As- Bank with Canara Bank, with "CNRB" while send- representing the bank, 15, 2021. The EUL pathway in- submitted," Mint quoted a world and a Technical Advi- traZeneca/Oxford, Janssen volves a rigorous assess- vaccine regulations expert sory Group (TAG), in (Johnson & Johnson) and Ask Money Today: Received donations from ment of late phase II and as saying. charge of performing the China's Sinopharm. friends and family; will it be taxable? Newspaper ad seeking PM Modi's permission NEW DELHI, MAY the gifts as explained to invest $500 bn in India raises eyebrows 24: The money received by above will be taxed under NEW DELHI,MAY 24: you though mentioned as the head "Income from An advertisement from a donation is nothing but other sources" and the company purportedly based gifts. All gifts whether re- same will be taxed at the in the US has raised eye- ceived in cash or kind are slab rate applicable to you brows on social media with tax-free in the hands of a re- on your total income. the way it has approached cipient as long as the aggre- I understand this is the government for an in- gate value of all the gifts re- harsh on you but we can- vestment worth $500 bil- ceived during a year does not change the law. Look- lion in various infra projects not exceed Rs 50,000. Once ing at the gravity of the sit- under the National Infra- the value exceeds this uation the government structure Pipeline (NIP) threshold limit, the full- should exempt all such do- and Non-NIP projects. value of all the gifts be- nations/gifts from Questions are being raised comes taxable in the hands purview of taxation. as to why a company that of the recipient. The thresh- Even though these dona- claims to invest funds worth old is determined with ref- does not exceed Rs the recipient and the par- tions are taxable in your $500 billion in India needs erence to each recipient and 50,000. ents, spouse of these per- hands, you still will have to to do so via an ad in news- not for all the family as a Not all gifts received are sons, etc. In case the dona- prove the identity of the papers and not seek an ap- whole. So, in case the gifts taxed. Gifts received from tions have been received donor and his credibility to pointment with Prime Min- have been received in the specified close relatives from some of your close avoid it being taxed at a flat ister Narendra Modi name of various family are not taxed and are fully relatives, the same will be rate of 60 per cent. Please directly. members the same would tax-free in the hands of the tax free and you need not obtain confirmation with The newspaper ad placed be tax free in the hands of recipient. Broadly the def- include these donations in the PAN number of all the in prominent newspapers of the respective family inition of relatives in- your taxable gifts. donors to avoid any compli- the country today says members where the value cludes parents, siblings of The taxable value of all cation in future. "Landomus Realty Ven- tures Inc, USA, would like to invest USD 500 Billion" PhonePe's acquisition of Indus OS in legal in Equity as the first phase of investment into the Na- tional Infrastructure hurdle with investors Affle, Ventureast Pipeline (NIP) and Non- NIP projects listed by the NEW DELHI,MAY in Singapore.PhonePe government of India the In- 24: PhonePe's $60 million spokesperson said that the dia Investment Grid for "In- acquisition of content dis- deal would be completed vest India" initiative". covery platform Indus OS soon after a decision on A simple search on the Kumar and Rakshith Gan- Food Processing & Agricul- from an unknown com- has run into legal trouble. court proceedings. It said company reveals Landomus gadhar are the directors of ture, Water & Sanitation, pany expressing interest to The fintech company is bat- the legal hurdles will not Realty Ventures is a private Landomus Realty Ventures etc." Seeking an opportu- invest $500bn in India. Is tling two of Indus OS' exist- impact PhonePe's plans to company incorporated on Private Limited. The ad- nity from PM Modi to "con- this the way to approach ing investors, Affle Global acquire Indus OS at all.In- 17 July 2015. It is classified dress on its website shows tribute to your vision of a the PM for such a big in- and Ventureast, in a Singa- dus OS has been made a de- as a non-government com- at Manipal Centre, Dicken- New India", Landomus vestment? Who are these pore court. Both sides have fendant in the case but pany and is registered at son Road, Bengaluru. says it wants to assist the people? Is it so difficult to filed competing lawsuits PhonePe is not seeking the registrar of companies, The newspaper ad claims government in its endeav- get a meeting with the against each other at the damages from it. Bengaluru. Though the the company aims to make our to rebuild India and PM?" one Sanjeev Kumar Supreme Court of Singa- Walmart-backed company wants to invest India "a global destination achieve the USD 5 trillion asked. pore. This legal tussle PhonePe is suing Ven- $500 billion in India, its by supporting the comple- GDP target. "Authorised share capital comes ahead of PhonePe's tureast because Affle re- paid-up capital seems less. tion of NIP and Non-NIP Meanwhile, social media is Rs 10,00,000 and paid- completion of the acquisi- portedly held talks with the "Authorised share capital is projects along with in- users are questioning the up is Rs 1,00,000.
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