ONGC, Hindustan Petroleum, Bharat Petroleum, Indian Oil and Oil India listed the spending as part of their mandatory CSR commitment, but CAG noted that the Sardar Patel statue did not qualify for CSR funding.
The civil aviation ministry initiated and then made a mess of the merger of the erstwhile Indian Airlines with Air India, according to a Comptroller and Auditor General report.
'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
The fund generated a lot of interest immediately after Prime Minister Narendra Modi announced its formation of the fund in the last week of March after the COVID-19 outbreak and appealed for donations, prompting several private firms, government bodies and individuals, including celebrities, to donate money.
The only reason for the new deal is to give Rs 30,000 crore to industrialist Anil Ambani, the Congress chief alleged.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Government auditor Comptroller and Auditor General has started a comprehensive audit into the role of armed forces, Coast Guard and Colaba administration in land allotment to the scam-tainted Adarsh Housing Society.
Comptroller and Auditor General Vinod Rai on Monday appeared before the Joint Parliamentary Committee, which is probing the 2G spectrum scam, to explain how the government auditor quantified the losses in the spectrum allocation at Rs 1.76 lakh crore. Rai was asked to brief the Committee, chaired by Congress leader P C Chacko, on the allocation and pricing of telecom licences and spectrum during 1998 to 2009.
Over the next five years, it will be Narendra not Nitish who will be under pressure to deliver vikas and atmanirbharta in Bihar, notes Kanika Datta.
United States aid worth one billion dollars has wound up in the hands of the Taliban and other insurgency groups, according to war analysts and government auditors
The company's accounts were audited by CAG as its shareholders include public sector banks.
India's winning streak in elections to UN bodies demonstrates it is time for the country to become a permanent member of the Security Council and those who doubt this can no longer behave like "ostriches in sand", the Indian envoy to the world body has said.
Government's decision comes in the backdrop of several complaints being flagged by domestic traders on heavy discounts being given by e-commerce players to consumers.
Rahul Khullar's guiding credo was that a civil servant must never lose sight of his client: The little guy. The evil men are those who are decision-makers but abdicate their responsibility of taking decisions, leading people to lose confidence in public institutions.
Consumers can effectively make payments using UPI and other debit cards, credit cards and internet banking across 120 banks and over 120 billers, Xiaomi said.
The Congress has launched an offensive against the Bharatiya Janata Party government over the Rafale deal, alleging corruption and violation of rules by Prime Minister Narendra Modi and demanded answers from him.
'The Modi government has been taking credit for improvement in respect of the ease of doing business in India.' 'But when I look at the scams I cannot help feeling that it is too easy to do business with banks in India, if one is a Harshad Mehta, Vijay Mallya or Nirav Modi and their tribe,' says former Union home secretary Madhav Godbole.
'We don't have any agenda in that, there will be no discrimination against anyone. Constitution will be Gita in that'
The government has paid commitment charges of Rs 86.11 crore (Rs 861.1 million) during 2009-10 in the form of penalty for not timely utilising the aid approved by multilateral and bilateral lending agencies.
The Comptroller and Auditor General of India report for 2010-11 on direct taxes, tabled in Parliament on Friday, revealed that 958 lakh (95.8 million) PANs were issued up to March 2010 but IT returns filed in the last fiscal were only 340.9 lakh (34.09 million).
Amidst the controversy over its figures of revenue loss on account of allocation of 2G spectrum, government auditor, the Comptroller and Auditor General, on Monday said it stood by the report submitted to Parliament late last year.
Navy has refused to disclose any details about procurement of six phased-out helicopters from the US worth Rs 182 crore for which it recently received a rap from the Comptroller and Auditor General.
The Comptroller and Auditor General, whose report on a presumed loss of Rs 1.76 lakh crore in 2G spectrum allocation created a storm in Parliament, will appear before the Public Accounts Committee on Monday.
The Comptroller and Auditor General, whose report on a presumed loss of Rs 1.76 lakh crore in 2G spectrum allocation created a storm in Parliament, will appear before the Public Accounts Committee on Monday.
The market buzz is that the GoAir promoters are hoping for a valuation that is at least a little more than double its closest rival SpiceJet.
The probe agency has found that the company's vast network of sales agents across the globe was not independent of Jet Airways and several of these entities were linked to its founder, Naresh Goyal.
These benefits would only be available to individuals and corporates, and professionals like auditors will not be able to use this route as they are duty-bound to report any wrongdoing.
When the third round of bids was opened, Oaktree's offer was the highest, but with several riders. While Piramal offered higher upfront cash and offered to merge its financial business with DHFL, Adani was ranked third in the race, reports Dev Chatterjee.
The Supreme Court on Wednesday said it would hear after two weeks the applications which have raised issues relating to the Board of Control for Cricket in India. The matter came up for hearing before a bench comprising Chief Justice S A Bobde and Justice L Nageswara Rao.
RBI proposed that at least half of the compensation of a CEO should be variable. It also said that stock options should be part of the variable pay, against the extant practice of keeping it beyond and above the scope of the official compensation package.
The Institute of Chartered Accountants of India has recommended strict penal action, including imprisonment, for auditors who are found associated with serious accounting frauds.
When he speaks of them, it is either in denial or to highlight successes that are only part of a larger story that is worrisome in its totality, observes T N Ninan.
Government auditor CAG on Friday pulled up the Income Tax Department (ITD) for allowing irregular tax exemption to two Tata trusts involving tax implication of over Rs 1,000 crore (Rs 10 billion).
Apex auditor CAG on Friday lamented that private telecom operators are not providing their account books to it, despite a request from the government.
'We feel there is definitely something murky in the system.' 'Will anyone believe that Nirav Modi will go to a branch and bribe a low-level officer?' 'Just look at the people with whom he had moved around.'
Institute of Chartered Accountants of India has sought broad-ranging information about the association of its member institutions with foreign auditing firms.The move assumes significance following the accountancy fraud by the promoters of Satyam Computers that brought the role of auditors under scrutiny. The auditors concerned were associate firms of international auditing entity PricewaterHouseCoopers.
BCCI Apex Council will work on finalising India's revised Future Tours Program and the domestic season.
Job opportunities arise as companies try to cut costs and conform to laws, says Joyita Chatterjee.
The DoT had last week sent a detailed reply to all the issues raised by the CAG.
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