If advance tax revenue fails to meet the expected growth, these PSUs could be asked to pay taxes on past demands raised against them.
According to ED sources Sunil Mehta said the fraud took place due to "systemic failure" and "procedural lapses", owing to lack of interface or proper links between the core banking software and the SWIFT interbank messaging system.
Among the seizures were Indian masters such as FN Souza, VS Gaitonde, SH Raza, Amrita Sher-Gil and Akbar Padamsee, sculptures from Italy and the US, Chinese artwork and masterpieces by Xu Lei and Zeng Xiaojun.
Overseas bourses may take similar action and stop providing data on foreign indices and commodities traded in India, Ashish Chauhan, chief executive officer, BSE said.
The move is meant to curb or reverse the export of India's financial markets to overseas trading platforms.
Likely to select from 3 shortlisted; follows Sanjeev Kaushik's refusal to take the job if made to retire from IAS
The allegation against Khan is that he had applied to purchase the agricultural land for farming but constructed a farmhouse for personal use instead.
Do you save more money if you use bank portals for online shopping?
The tax filing season is here, and mutual funds have launched tax-saving products.
Don't let knotty financial issues weaken your marital bond. Heavy liabilities of one partner have the potential to sour a new relationship. So, develop a plan for how you will deal with these.
The regulator will conduct forensic audit of all the seized documents, laptops, and mobile phones, which are suspected to be involved in the fraudulent activity, reports Shrimi Choudhary.
Given its focus on the real estate sector, financial planners feel this scheme is not meant for first-time investors and any investor should only have 5 to 10 per cent exposure to this fund.
Keki Mistry, vice chairman and CEO, HDFC tells Joydeep Ghosh and Chirag Madia that unlike some other players it never went for excesses and never took unreasonable risks.
Staying healthy can reduce your next premium. Through wellness programmes, policyholders can get discounts ranging from 8 per cent to 30 per cent.
Experts said the outcome isn't surprising as the action initiated by Sebi was not after an investigation or findings.
Analysts say IT major cleaning up act before new CEO takes over; regulator might take a year
'A subscriber will know exactly how much of his money is in debt and how much in equity.'
The assets mentioned in the Sebi order are already in possession of the ED for violation of an anti-money laundering law by Mallya and PMLA overrides all other laws, providing ED first right over the assets.
Use whole life term policies for legacy planning. By doing so, your annual outgo will come down and returns will improve, suggest Chirag Madia and Tinesh Bhasin.
Specific sections of the Companies Act need to be amended to empower Sebi to regulate or take penal action against an unlisted entity and its promoters for violating the insider trading and other securities norms.
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