Pictures released by the Jammu and Kashmir Police.

Shopian, May 12

The Jammu and Kashmir Police have identified three suspected Hizbul Mujahideen and Lashkar-e-Taiba (LeT) terrorists believed to be involved in the killing of young Kashmiri Army officer Ummer Fayaz.The police on Friday pasted the posters of the three terrorists in Shopian claiming that they were a part of the group, who abducted and killed the Lieutenant on Tuesday night.The police have also announced rewards for any information on the suspects.Fayaz, a Rajputana Rifles officer, was kidnapped from a relative’s home and killed. A resident of south Kashmir’s Shopian district, he had gone to attend his cousin’s wedding.Lieutenant Fayaz, a farmer’s son, was commissioned into the Indian Army in December 2016.The police said the officer was shot by terrorists five times in an orchard. His body was found in the Harman orchard by locals. —ANI

Chandigarh, June 10

It was a proud moment for the faculty and cadets of Maharaja Ranjit Singh Armed Forces Preparatory Institute (AFPI), Mohali, as six cadets of the first batch were commissioned as officers today. The passing out parade at the Indian Military Academy (IMA), Dehradun, was reviewed by Chief of the Army Staff Gen Bipin Rawat.The new commissioned officers had joined the AFPI in 2011 and completed their two years of training in 2013. Thereafter they have undergone three years of training at the National Defence Academy (NDA), Khadakwasla, followed by one year at the IMA.The six are Lt Danish Chadha, Lt Abhay Singh Rana, Lt Sahil Manhas, Lt Ajaypal Singh Waraich, Lt Rajat Sarangal and Lt Vishavdeep Singh Nandha. Out of these six, four held senior cadet appointments at the academy. Lt Nandha was selected to be the standard bearer to carry the academy colours during the parade. —TNS

US President Donald Trump ordered the USS Carl Vinson carrier strike group to sail to waters off the Korean peninsula. Reuters file photo

Seoul, April 23

North Korea said on Sunday it was ready to sink a US aircraft carrier to demonstrate its military might, as two Japanese navy ships joined a US carrier group for exercises in the western Pacific.

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US President Donald Trump ordered the USS Carl Vinson carrier strike group to sail to waters off the Korean peninsula in response to rising tension over the North’s nuclear and missile tests, and its threats to attack the United States and its Asian allies.

The United States has not specified where the carrier strike group is as it approaches the area. U.S. Vice President Mike Pence said on Saturday it would arrive “within days” but gave no other details.

North Korea remained defiant.

“Our revolutionary forces are combat-ready to sink a US nuclear powered aircraft carrier with a single strike,” the Rodong Sinmun, the newspaper of the North’s ruling Workers’ Party, said in a commentary.

The paper likened the aircraft carrier to a “gross animal” and said a strike on it would be “an actual example to show our military’s force”.

The commentary was carried on page three of the newspaper, after a two-page feature about leader Kim Jong Un inspecting a pig farm.

North Korea will mark the 85^th anniversary of the foundation of its Korean People’s Army on Tuesday.

It has in the past marked important anniversaries with tests of its weapons.

North Korea has conducted five nuclear tests, two of them last year, and is working to develop nuclear-tipped missiles that can reach the United States.

It has also carried out a series of ballistic missile tests in defiance of United Nations sanctions.

North Korea’s growing nuclear and missile threat is perhaps the most serious security challenge confronting Trump.

He has vowed to prevent the North from being able to hit the United States with a nuclear missile and has said all options are on the table, including a military strike.

Worry in japan

North Korea says its nuclear programme is for self-defence and has warned the United States of a nuclear attack in response to any aggression. It has also threatened to lay waste to South Korea and Japan.

U.S. Defense Secretary Jim Mattis said on Friday North Korea’s recent statements were provocative but had proven to be hollow in the past and should not be trusted.

“We’ve all come to hear their words repeatedly, their word has not proven honest,” Mattis told a news conference in Tel Aviv, before the latest threat to the aircraft carrier.

Japan’s show of naval force reflects growing concern that North Korea could strike it with nuclear or chemical warheads.

Some Japanese ruling party lawmakers are urging Prime Minister Shinzo Abe to acquire strike weapons that could hit North Korean missile forces before any imminent attack.

Japan’s navy, which is mostly a destroyer fleet, is the second largest in Asia after China’s.

The two Japanese warships, the Samidare and Ashigara, left western Japan on Friday to join the Carl Vinson and will “practice a variety of tactics” with the U.S. strike group, the Japan Maritime Self Defence Force said in a statement.

The Japanese force did not specify where the exercises were taking place but by Sunday the destroyers could have reached an area 2,500 km (1,500 miles) south of Japan, which would be waters east of the Philippines.

From there, it could take three days to reach waters off the Korean peninsula. Japan’s ships would accompany the Carl Vinson north at least into the East China Sea, a source with knowledge of the plan said.

U.S. and South Korean officials have been saying for weeks that the North could soon stage another nuclear test, something the United States, China and others have warned against.

South Korea has put is forces on heightened alert.

China, North Korea’s sole major ally which nevertheless opposes Pyongyang’s weapons programmes and belligerence, has appealed for calm. The United States has called on China to do more to help defuse the tension.

Last Thursday, Trump praised Chinese efforts to rein in “the menace of North Korea”, after North Korean state media warned the United States of a “super-mighty preemptive strike”. — Reuters

Ajay Banerjee

Tribune News Service

New Delhi, June 7

China could set up a military base in Pakistan and it has capabilities to launch precision strikes at distances of 10,000 km or more with its road-mobile nuclear missiles, warns a report of the US Department of Defence released today by the Pentagon in the US.Titled “Annual report to the Congress: Military and Security Developments Involving the People’s Republic of China 2017”, it says: “China, most likely, will seek to establish additional military bases in countries with which it has a longstanding friendly relationship and similar strategic interests, such as Pakistan.”(Follow The Tribune on Facebook; and Twitter @thetribunechd)The US report said Pakistan had a precedent for hosting foreign militaries. It did not specify what kind of base could China have in Pakistan — a seaport or a land-based port. The China Pakistan Economic Corridor (CPEC) has the provision of making a huge port at Gawadar — some 100 miles west of Karachi. Chinese submarines have used the Pakistan Navy’s facilities at Karachi to dock and refuel.In another India-related aspect, the report says the focus areas of the People’s Liberation Army (PLA) include China’s borders with India and North Korea, East China Sea, the South China Sea. India has un-demarcated 3,488-km-long Line of Actual Control (LAC) which is deemed to be the boundary with China.In February 2016, Beijing started construction of first overseas military base at Djibouti on the north-eastern African Coast. The report hinted at how China was also supplying submarines to India’s neighbours. “Last year, China signed an agreement with Pakistan for the sale of eight submarines. The first four will be built in China, with the remaining four in Pakistan,” the 106-page report said. It listed Bangladesh and Burma — both India’s neighbours — as the other customers of China.The US report talks about China’s military reforms started in February 2016, saying: “These seek to enhance the PLA’s ability to conduct joint operations; improve its ability to fight short-duration and high-intensity regional conflicts at greater distances from the Chinese mainland.”The PLA, which is biggest standing Army in the world, established five regionally based joint theaters, replacing the decades-old ground force-dominated seven military regions (MR). “PLA reforms appear to have oriented each new theatre command towards a specific set of contingencies,” said the report. India faces the PLA’s Western theatre and also the Tibet Area command.The PLA Navy places a high priority on the modernisation of its submarine force. It currently possesses five nuclear-powered attack submarines (SSN), four nuclear-powered ballistic missile submarines (SSBN), and 54 diesel-powered attack submarines (SS). By 2020, this force is likely to grow to anywhere between 69 and 78 submarines.

India to UNHRC: Pak fuelling J&K unrest

• At the 35th session of the UN Human Rights Council in Geneva on Wednesday, India said the cross-border terrorism emanating from Pakistan has been the primary source of unrest in Jammu and Kashmir
• Rajiv K Chander, India’s permanent representative at the UN, said: “The central problem in J&K is cross-border terrorism, and Pakistan’s use of terrorism as an instrument of state policy. This fact needs due recognition by one and all. We firmly believe that a policy of zero tolerance to terrorism is as much an international obligation as it is a commitment to our own people.” tns

SNAPSHOT

Tribune News Service

New Delhi, May 6

Amid reports that Assam is considering approaching the Centre to get the Armed Forces (Special Powers) Act lifted from some parts of the state, the Home Affairs Ministry on Friday issued a notification declaring the state “disturbed” under the law for three more months.The notification, which cited violent activities by insurgent groups such as ULFA and NDFB, came after the last extension issued on November 5, 2016, ended yesterday. The MHA said the entire Assam and bordering areas covering 20 km of Meghalaya have been declared “disturbed” under the AFSPA for three months with effect from May 3.The move also comes in the backdrop of India reportedly facing severe criticism from over 100 countries, including the US, for its “poor human rights records” during the 3rd universal periodic review at the UN Human Rights Council.

Photo source: iStock

Tribune News Service

New Delhi, March 31

With the passage of Finance Bill, a host of tax measures and changes will kick in from April 1, including a new Income Tax Return (ITR) form, lower returns from small savings schemes and a cap on cash transactions exceeding Rs 2 lakh.The Central Board of Direct Taxes has notified new Income Tax Returns (ITRs) forms for assessment year 2017-18. A key change in the notified forms is the one-page simplified ITR Form-1 (Sahaj). It can be filed by an individual having income up to Rs 50 lakh from salary, one-house property or income from interest or other sources. This initiative will benefit over two crore taxpayers.(Follow The Tribune on Facebook; and Twitter @thetribunechd)Parts relating to tax computation and deductions have been rationalised and simplified, reducing the compliance burden to a significant extent on the individual taxpayer.Sahaj makes quoting of the 12-digit biometric Aadhaar number mandatory along with Permanent Account Number (PAN). It also seeks details of cash in excess of Rs 2 lakh deposited in bank accounts during the post-demonetisation window — between November 9 and December 30, 2016. The last date for filing of ITRs for 2017-18 is July 31.From April 1, small savings will fetch lower returns as the government has lowered interest rates on small savings schemes such as Public Provident Fund, Kisan Vikas Patra and Sukanya Samriddhi scheme by 0.1 per cent for the April-June quarter. However, interest on savings deposits has been retained at 4 per cent annually. A Finance Ministry notification said investments in the PPF scheme will fetch a lower annual rate of 7.9 per cent, the same as five-year National Savings Certificate. The existing rate for these two schemes is 8 per cent.Among the tax changes, Aadhaar number has to be quoted from July 1, 2017, in the return of income. Anyone allotted PAN as on July 1 must list the Aadhaar number to the tax authority, failing which, PAN allotted to such person shall be deemed to be invalid. As per the Finance Bill changes, no one can receive more than Rs 2 lakh in cash.

Disclose deposits over Rs 2L post-note ban

• Taxpayers who deposited Rs 2 lakh or more in banks post-demonetisation will have to make the disclosure in the new ITR form. Column Part-E of ITR Form-1 (Sahaj) seeks information on cash deposits made by the assessee between November 9 and December 30, 2016 for “aggregate cash deposits” of Rs 2 lakh or more.

Returns simplified for 20 m taxpayers

CURBING EVASION Individuals need to make more disclosures in the one­page form, including linking of tax returns with Aadhaar

THE DEPARTMENT HAS MANDATED THAT TAXPAYERS WILL HAVE TO DISCLOSE ANY CASH DEPOSIT ABOVE ₹2 LAKH MADE DURING NOV 9 AND DEC 30

From page 01 NEW DELHI: The income-tax department has notified a simplified one-page tax-return form aimed at making it easier for taxpayers to file their annual returns.

HT/FILEPeople queue up to file their returns. There are around 40 million taxpayers in India

At the same time, the new form also requires taxpayers to make additional disclosures —including mandatory linking of tax returns with an individual’s Aadhaar number — which will help curb tax evasion.

Not only will this make it easier for 50% of the country’s 40 million taxpayers and encourage more people to file their tax returns, the new disclosures will also encourage better compliance.

A press release issued by the tax department says individuals earning up to ₹50 lakh and possessing one house will need to file only a single-page tax return form called ITR-1 (Sahaj) for financial year 2016-17.

However, the department has mandated that the taxpayer will have to disclose any cash deposit above ₹2 lakh made during November 9 and December 30 as it moves to track instances where high-value cash deposits post-demonetisation do not match with the income profile of the taxpayer.

Further, in line with the changes proposed to the incometax Act, providing the Aadhaar number or the Aadhaar enrolment number in the I-T return form has been made mandatory.

The tax department has also rationalised various columns relating to tax computation and deductions for easy compliance.

“This will reduce the compliance burden to a significant extent on the individual taxpayer. This initiative will benefit more than two crore taxpayers who will be eligible to file their return of income in this simplified form,” said the income-tax department in a statement.

However, taxpayers who have more than one house will have to file a much more detailed ITR-2.

The number of income-tax return forms have also been reduced from the existing nine to seven. Further, only those individuals above the age of 80 years or whose income does not exceed ₹5 lakh and have not claimed any refund of income tax will be able to file paper returns.

Earlier, taxpayers filing ITR-1 and ITR-2 could file paper returns and claim a refund.

Also, the tax department has now made it mandatory to report exempted long-term capital gains in the tax return form; dividend income also has to be disclosed. “The government has shifted focus to those earning upwards of ₹50 lakh and having income from sources other than salary with multiple home ownership. Income-tax return filing will be detailed for them. Besides, the government has kept up the momentum on efforts of demonetisation,” said Archit Gupta, founder and CEO of ClearTax, a website which helps people file tax returns.

Around 37 million people filed their income-tax returns in 2015-16, of which 9.9 million reported annual income below the exemption limit of ₹2.5 lakh, 19.5 million reported an annual income between ₹2.5 lakh and ₹5 lakh, 5.2 million showed income between ₹5 lakh and ₹10 lakh and only 2.4 million people showed income above ₹10 lakh, according to the tax department.

Further, only 172,000 people reported income above ₹50 lakh in the entire country. A majority of the individual assessees reporting income above ₹5 lakh were from the salaried class.

Small savings schemes to fetch less interest now; what it means for you

NEW DELHI: The government on Friday slashed interest rates on small savings schemes, including Public provident Fund (PPF) and Kisan Vikas Patra (KVP), by 10 basis points to align them with market rates, a move that may facilitate further rate cuts by commercial banks in the absence of policy rate cuts by the Reserve Bank of India (RBI).

A basis point is one-hundredth of a percentage point.

RBI is expected to hold rates in its quarterly monetary policy review on April 6. The central bank in its last policy review in February changed its stance to neutral from accommodative, citing inflationary pressure. However, the linking of interest rates of small savings schemes to the yields of government bonds is expected to allow banks to pass on policy rate cuts by the central bank through lower lending rates.

“We are doing it keeping in mind the interests of small investors,” economic affairs secretary Shaktikanta Das said.

So, should you rethink your investments in these schemes?

RATE CUTS

According to the finance ministry notification, the interest rate on a savings accounts with post offices will stay at 4% annually, whereas all other schemes will fetch 0.10% less starting next quarter. Investments in PPF will fetch an annual interest rate of 7.9%, compared to 8% in the quarter ending March 2017; similarly five-year National Savings Certificate will give interest of 7.9% instead of 8%. KVP investments will now provide 7.6% return and mature in 113 months.

The scheme for the girl child, Sukanya Samriddhi Account Scheme, and five-year Senior Citizens Savings Scheme will provide 8.4% return. The five-year monthly income scheme will offer 7.6% returns. Term deposits of 1-5 years will offer 6.9-7.7%. The five-year recurring deposit will earn 7.2% interest.

SHOULD YOU KEEP INVESTING?

“0.10% decrease in the interest rate of PPF is not huge in the current falling interest rate scenario. Given that PPF still offer a return of 7.9%, that too tax free, which no other instrument provide, one can continue investing in it,” said Suresh Sadagopan, founder, Ladder7 Financial Advisories, a Mumbai-based financial planner.

However, when it comes to other small savings schemes such as time deposits, where returns are not only low but are taxable too, “one should look for alternatives,” Sadagopan suggested.

“An investor can consider investing in a debt mutual fund instead, if the time horizon for investment is more than three years. Though debt mutual funds will also provide similar returns, but available indexation benefit while calculating tax on return will increase the investor’s overall profit.”

New Delhi, June 6

The CPM has criticised Army Chief Bipin Rawat for defending the use of a “human shield” in Kashmir, saying his comments reflected the views of the Modi government, which seeks to “suppress” the people there.The Left party said the Army and Kashmiris would suffer “irreparable damage” because of the government’s “blind” adherence to the use of force against civilians in the Valley.“Unfortunately, the Army Chief is reflecting the views of the Modi government which seeks to suppress the people of Kashmir, who are voicing their political protest, through sole reliance on the use of force,” former CPM general secretary Prakash Karat said.Karat’s comments appeared in the editorial of the latest issue of the party mouthpiece “People’s Democracy”. Karat alleged Rawat made no distinction between young protesters throwing stones and armed militants.“To taunt protesters to take up arms, so that the Army could deal with them appropriately, is a needless provocation and displays an attitude which is unbecoming of a senior Army officer,” he added.Karat said the Army Chief’s remarks exemplified “all that is wrong” with the way the Modi government was dealing with the situation there. “The Army Chief of Staff, by commending this act, has let down the high professional standards of the Army,” the Marxist leader said.Karat was asked questions by reporters on the sidelines of a CPM politburo meeting here, but refused to speak more on the subject. “It was an editorial (which is) the party stand,” he said.Meanwhile, The CPM today defended its criticism of the Army for backing the use of a “human shield” against stone-throwers by an Army major in Jammu and Kashmir, saying it stood by “every word” it had said in this regard. — PTI