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JLR launches Evoque Landmark edition at Rs 50.20 lakh

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Land Rover has launched the Landmark Edition of the Range Rover Evoque in India. Priced at Rs 50.20 lakh (ex-showroom), the Landmark Edition is based on the SE variant and is offered in three colour options. This edition was revealed first in May last year to mark the production milestone of 6 lakh units at the Halewood plant in UK. Now, the British manufacturer has launched the same in India to commemorate six years of the SUV in our country.
Changes to the exterior include a new body kit with body coloured lower door cladding, new Gloss Black 18-inch wheels (19-inch internationally) and a Carpathian Grey contrast roof. Inside, you have a dark satin brushed aluminium centre console, grained Ebony Leather seats with contrasting light lunar stitching and a perforated mid-section. Also standard on the Landmark Edition is a gesture-powered tailgate, WiFi Hotspot, Pro Services and keyless entry.
Powering the Land Rover Range Rover Evoque Landmark Edition (that’s one big name) is the same 2.0-litre diesel engine of the stock SUV which makes 177PS of power and 430Nm of torque. Transmission duties are also handled by the same 9-speed automatic gearbox which lets the Evoque reach 100kmph in 9 seconds flat before clocking a top speed of 195kmph.
At the launch, Rohit Suri, President and Managing Director, Jaguar Land Rover India Ltd. (JLRIL), said, “The Range Rover Evoque has brought Range Rover luxury and refinement to new customers around the world and in India. Its critically acclaimed design, desirability and all-terrain capability have been further enhanced with the Model Year 2018 Range Rover Landmark Edition and we are happy to offer it to our discerning customers. With its striking looks and updated feature set, we are confident that the Range Rover Evoque fan base will grow even further.”
The Evoque rivals the likes of the BMW X3, Volvo XC60, Mercedes GLC and the upcoming Audi Q5 in terms of price, but in essence, as a stylish lifestyle SUV, it has no direct competitors. Land Rover has also revealed the prices for the all-new Velar in India.


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Income Tax return processing time to reduce from 63 days to just 1 day

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Mumbai:The Union Cabinet approved an integrated income-tax e-filing and centralised processing centre (CPC) portal, which will reduce the return processing time from 63 days to just one day. The new portal is also expected to process the refunds within one day of filing of tax returns, in huge relief for taxpayers. However, one will have to wait for 18 months to see its launch.

“Earlier, taxpayers would face troubles because of delay in refund processing and the CBDT used to spend a lot of money every year as interest on pending refunds, which will be history now,” Union minister Piyush Goyal told reporters after the Cabinet meeting here.

Last month, Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra had said a simplified return form and process would be put in place soon in which the department would process the self-declaration made by the taxpayer. The new Rs 4,241-crore project will incorporate these changes.

 

“This is a laudable initiative and will go a long way to ease tax compliance, and enhanced experience for taxpayers. However, the real success of this will be measured when it brings ease to a common man and is accompanied by changes in the culture of the tax authorities at the operational level,” said Neeru Ahuja, partner, Deloitte India.

Currently, the e-filing portal and the CPC work separately. While e-filing is being managed by Tata Consultancy Services (TCS), the CPC is run by Infosys.

In the bids invited by the government, Infosys emerged as the lowest bidder and it would develop the ITR-CPC 2.0 project in 18 months from now, Goyal said.

Under the new system, Infosys will handle end-to-end solution — from e-filing to return assessment to refund processing. The CBDT and Infosys would work in a revenue-sharing model, sources in the know said.

Goyal said ramping up scrutiny was not the mandate of the new portal. Currently, about 0.3 per cent of the I-T returns are scrutinised, he said. The system intends to resolve taxpayer grievances as well as tax demands from the CBDT faster and equitably, he said.

“The decision will ensure horizontal equity by processing returns filed by all categories of taxpayers across the country in a consistent, uniform, rule driven, identity blind manner. This will assure fairness in tax treatment to every taxpayer irrespective of their status,” a government release said.

But even under the new ecosystem, only those applications which are clean would have the chance of getting processed in a day, sources said.

About 23 crore I-T returns have been processed, along with Rs 2.62 trillion worth of refunds, till September 2018 cumulatively. Of this, refunds worth Rs 1.83 trillion have been processed in 2018-19, said Goyal.

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Lenders considering resolution plan for Jet Airways: SBI

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Mumbai: State Bank of India (SBI) on Thursday said lenders are considering a resolution plan for Jet Airways to ensure long-term viability of the debt-laden company.

The SBI statement comes a day after the crisis-hit airline said discussions were “progressing well” with stakeholders on a comprehensive resolution plan that also contemplates equity infusion and consequent changes in its board of directors.

There are rising concerns over financial health of Jet Airways, whose shares have also taken a beating at stock exchanges.

 

“We would like to state that lenders are considering a restructuring plan under the RBI framework for resolution of stressed assets that would ensure a long-term viability of the company,” SBI said in a statement.

It said the restructuring plan for the cash-strapped airline would need approval from boards of lenders.

“Any such plan would be subject to approval of boards of the lenders and subject to adherence and clearance, if required, from the RBI and/or Sebi (takeover code, ICDR regulations.) and Ministry of Civil Aviation and in compliance with all regulatory prescriptions,” the statement said.

Shares of the airline are trading 4.24 per cent lower at Rs 259.50 apiece on BSE.

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NGT slams Volkswagen for not depositing Rs 100 crore as per its 2018 order

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New Delhi: The National Green Tribunal (NGT) slammed German auto major Volkswagen for not depositing Rs 100 crore in accordance with its November 16, 2018 order and directed it to submit the amount within 24 hours.

A bench headed by NGT chairperson Adarsh Kumar Goel took strong exception to the non-compliance of its order by the automobile giant and asked it to give an undertaking that it will submit the amount by 5 PM Friday.

“Why have you not complied with our order when there is no stay. We will not give you any further time,” the bench, also comprising Justice S P Wangdi, said while asking Volkswagen to submit an affidavit of compliance after deposit.

 

The tribunal deferred the matter for hearing after it was informed that the Supreme Court is also seized of the issue.

On November 16 last year, the tribunal had said that the use of ”cheat device” by Volkswagen in diesel cars in India leads to inference of environmental damage and had asked the German auto major to deposit an interim amount of Rs 100 crore with the Central Pollution Control Board (CPCB).

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