
Keonjhar steel plant project on right track: Odisha CM
On a two-day visit to his home district, the chief minister took a comprehensive review of major industrial, infrastructure and development projects including the mega steel plant proposed to be set up jointly by JSW and POSCO with an investment of around Rs 40,000 crore in Patna area.
He took stock of the progress in identification of land for the project and steps taken for acquisition. He later told mediapersons that the project has moved two-step ahead with one of the project proponent already depositing money for land acquisition. 'Apart from the mega steel plant, nine industrial projects will be set up in the district and necessary steps are being taken for their expeditious grounding,' Majhi said. The district administration has identified two patches of land, one at Taramakanta village under Banspal block, about 47 km from the Keonjhar town, and another at Patna for the steel plant.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Time of India
an hour ago
- Time of India
MP Waje seeks immigration checkpoint at Nashik airport
Nashik: Nashik MP Rajabhau Waje recently met with Union aviation minister Ram Mohan Naidu to push for significant developments at Nashik airport ahead of the upcoming Simhastha Kumbh Mela in 2026-2028. Waje submitted a memorandum requesting an immigration checkpoint and a major airport expansion to handle the expected influx of devotees. The proposed expansion includes constructing a new terminal building with seating for 1,000 passengers, developing new taxiways, and increasing the number of aircraft parking bays. Waje also called for the construction of separate helipads at the airport, in Nashik city, and in Trimbakeshwar to manage the massive crowd. Naidu has assured Waje that he would look into these requests. Additionally, Waje proposed that the airport be named after Yashwantrao Chavan, Maharashtra's first chief minister who was instrumental in bringing the Hindustan Aeronautics Limited (HAL) unit to Nashik. Currently, the Nashik-Delhi flight has been reduced from daily to four days a week. This service should be made daily again. Waje also requested a slot at Delhi airport for the second Nashik-Delhi flight at night. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Do you have a mouse? Desert Order Undo The MP also called for expanded air connectivity to Nashik airport, specifically requesting new routes to major cities like Kolkata, Varanasi, and Chennai. All these demands come ahead of the upcoming Kumbh Mela, where the airport expects a significant increase in passenger traffic. The airport, a joint venture between the state government and Hindustan Aeronautics Limited (HAL), was developed between 2013 and 2014 at a cost of Rs 94 crore. The current terminal can only accommodate 300 passengers at a time. With the footfall expected to reach 1,000 passengers per hour during the Kumbh Mela, HAL has submitted a proposal to state govt for a much-needed upgrade. However, a decision on the development plan is still pending.


Time of India
an hour ago
- Time of India
AIS mismatch causes chaos for taxpayers with stock market exposure
Ahmedabad: With the income-tax return (ITR) filing deadline fast approaching, chartered accountants and tax practitioners are raising alarm over widespread mismatches in the Annual Information Statement (AIS), particularly for individuals with stock market investments including mutual funds. Several taxpayers have flagged discrepancies between actual stock market transactions and the data reflected in the AIS. According to sources, a key concern is that in many instances, the AIS shows a purchase value of zero for listed securities. This significantly inflates the capital gains — and consequently the tax liability — for the taxpayer. The inconsistencies are attributed to the use of multiple data sources by the Income Tax Department, such as stock exchanges, mutual funds and depositories. You Can Also Check: Ahmedabad AQI | Weather in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad Further complications arise in cases involving equities and equity-oriented mutual funds acquired prior to 31 Jan 2018 — the cut-off date for the grandfathering clause — which are also appearing in majority cases with a zero purchase value in the AIS as there is no source of auto-capturing the cost in cases where shares were received as gift or inheritance etc. Karim Lakhani, a chartered accountant, said, "AIS has been a useful tool in recent years for retrieving transaction details at the time of filing returns. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas in Dubai | Search Ads Get Info Undo However, this year, the number of mismatches has been exceptionally high, making the process far more complex and time-consuming. Most salaried individuals now have stock market exposure, and this year, the AIS data related to such investments has been riddled with errors. " "For instance, one of my clients' AIS shows dividend income of around Rs 1.5 lakh from a company in which he holds no shares. We've also faced difficulty in calculating short-term or long-term capital gains because the data provided by the client's broker often does not align with the AIS or the Taxpayer Information Summary (TIS). In many stock market-related cases, the purchase value is recorded as zero, resulting in inflated tax liabilities. We are forced to raise feedback within the return to get it corrected," Lakhani explained. CA Jainik Vakil, chairman of the direct tax committee of the Gujarat Chamber of Commerce and Industry (GCCI) said, "Mutual funds entry is sometimes reflected twice in AIS because same transactions are reported twice-- one by registrar and one by depository." Mukesh Patel, international tax expert said, "There are multiple data mismatch in AIS but fortunately, vigilante tax payers can compare their own data with AIS and correct it with feedback. It will help them in case of scrutiny." A senior chartered accountant added, "Return filing has become far more complicated this year due to the existence of two slabs for short-term and long-term capital gains — one applicable before 23 July 2024, and another post that date. We've also observed that in cases where shares were received as gifts, via succession, or acquired before 31 January 2018, the AIS lists the purchase cost as zero. The same issue applies in cases related to the grandfathering clause. " Tax experts advise taxpayers with stock market exposure to cross-check AIS and TIS data carefully against their demat statements and broker reports before filing. Where discrepancies exist, raising timely feedback within the ITR portal is key to rectification.


Time of India
an hour ago
- Time of India
Property tax scam hits 1k+ Amdavadis
Ahmedabad: Imagine waking up one morning to find the civic body dropping a hefty property tax bill at your doorstep, demanding payment for something you thought was settled years ago. This is now the reality for many Amdavadis, caught in the middle of a "property tax scam". The con, affecting all city zones but most severely in the West Zone, has left over 1,000 property owners — who had already paid their dues — receiving bills from the Ahmedabad Municipal Corporation (AMC), some of which add up to lakhs of rupees. All, because of the scam that lay hidden for nearly five years. A group of touts or agents that liaised on behalf of citizens with AMC's property tax department five years ago is suspected to be behind the scam, said a senior AMC official. You Can Also Check: Ahmedabad AQI | Weather in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad "They allegedly misused the login credentials of an employee of Ahmedabad Municipal Corporation's West Zone. The agents, allegedly, collected cash from property owners, claiming to pay their outstanding dues. They are believed to have pocketed the cash then using the employee login to tamper with the system and falsely show 'zero outstanding dues' for several properties," said a senior civic official in the know. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Blood cancer is taking our curious baby away from us! Donate For Health Donate Now Undo An investigation by the e-governance department exposed the manipulation. AMC's system recalculated the dues, and the falsely cleared bills have been reclassified as unpaid. As of now, the estimated value of the scam ranges between Rs 1.5 crore and Rs 2 crore. One such case emerged in Khadia, where a family owning five small shops was issued fresh bills in 2025-26 showing total dues of Rs 1.59 lakh, despite their old receipts showing "zero" dues. "The scam has impacted dues from as far back as 2017–18, 2018–19, and 2019–20. The outstanding amount ranges from Rs 21,000 to Rs 46,000 per property," said a family member, refusing to be named. The family immediately reported the matter to AMC's tax department. Another AMC official, speaking on condition of anonymity, told TOI, "The manipulation involved using credit and debit cards to create the illusion of payment. Only those who retained card receipts have been refunded. Those who paid in cash and do not have receipts are now being asked to pay again," the official said. Despite the scale of the scam, AMC has yet to take decisive action. Repeated requests over the past week to officials from the property tax and e-governance departments have yielded no official data on the recovery of outstanding dues. "The actual number of citizens affected by this scam is yet to be ascertained. The issue spans all zones, with the West Zone showing the highest irregularities. No disciplinary action has yet been taken against any involved personnel," added the AMC official.