The higher dividend will help Tata Trusts, which owns 67 per cent stake in Tata Sons, to invest in its charitable activities. The total dividend outgo will be Rs 404 crore.
Those spending over Rs 2 lakh on foreign travel, incurring more than Rs 1 lakh electricity bills, or depositing over Rs 1 crore in current account will have to mandatorily file ITR even if their total income is below the taxable limit. The last date for filing has been extended to Nov 30 from Jul 31.
The government holds 90 per cent stake in ITI which is valued at Rs 7,550 crore.
The PM has assets worth Rs 2.5 crore including a residential plot in Gujarat's Gandhinagar, fixed deposits of Rs 1.27 crore and Rs 38,750 cash in hand.
State-run Life Insurance Corporation of India has raised its holding in cement and construction major Larsen & Toubro by about one percentage point to 18.4 per cent.\n\n
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The Central Bureau of Investigation on Wednesday arrested eight people, including the chief executive officer of LIC Housing Finance, for allegedly giving corporate loans for monetary considerations.
Chartered accountant and Sebi registered investment advisor, Harsh Vardhan Roongta, answers your home loan queries
Tax Guru Anil Rego answers your personal income tax queries.
Retirement fund manager EPFO has decided to suspend further investments in the LIC Housing Finance till CBI completes investigations into the alleged involvement of its top official in the bribes-for-loans scam.
There are four public sector general insurance companies.
Nine days after their arrest in a cross-country housing loan scam, a special CBI court on Friday granted bail to all the eight accused, including LIC Housing Finance CEO Ramchandran Nair, after observing that their custody is not required further.
Prime Minister Narendra Modi on Wednesday said the government has no business to be in business and his administration is committed to privatising all PSUs barring the bare minimum in four strategic sectors. "It is government's duty to support enterprises and businesses. But it is not essential that it should own and run enterprises," he said. Modi also said the Centre's policy is to either monetise or modernise public sector enterprises, with the intent that the government has "no business to be in business".
The Government today said it has not directed public sector banks to cut exposure in real estate following the housing-finance bribery scam. "No why should we say this," Financial Services Secretary R Gopalan told reporters when asked if the government has given such directions to the state-run banks.
The plan panel on Thursday termed the housing finance racket, involving the chief of LIC Housing Finance and several other officials of PSU banks, as a "very small" incident as far as banking system as a whole was concerned.
The rating agency revised the outlook for EXIM, SBI, Bank of Baroda, Bank of Baroda (New Zealand), Bank of India, Canara Bank, Punjab National Bank, ICICI Bank, Axis Bank while affirming their ratings. At the same time, Fitch has affirmed IDBI Bank Ltd's (IDBI) rating, while maintaining the outlook at negative.
The government of India holds 24.5 per cent stake in GSTN while states together hold another 24.5 per cent
It has so far managed to raise only Rs 1,700 crore (Rs 17 billion), by divesting a 5% stake in Steel Authority of India.
Ambani now holds 80.52 lakh shares or 0.12 per cent of RIL, up from 75 lakh shares held before the rights issue. His wife Nita and children Isha, Akash, and Anant too got 5.52 lakh shares each after they subscribed to the rights offering. They, too, hold 0.12 per cent each in the firm.
The right investment at the right age will help you enjoy a secured post retirement life.
State-run National Thermal Power Corporation on Friday said it will borrow Rs 1,000 crore (Rs 10 billion) from Life Insurance Corporation during the fourth quarter of the current fiscal to fund its capital expenditure requirements.
Players seek separate deduction for long term savings, or alternatively hike in exemption limit U/s 80 C; also seek longer period of carry forward of losses under Income Tax Act and also to increase FDI limit from 26% to 49%
We asked you, dear readers to share your best tips on saving money. Irish Verma shares these tips.
Life Insurance Corporation of India, the country's largest institutional investor, is planning to pump in at least Rs 75,000 crore in equities during the next financial year.
The banks also received a warning from the rating agency Care, in February 2016, after Firestar's financials deteriorated.
The top-100 wealth creators generated Rs 49 lakh crore during 2014-19, the highest-ever quantum of wealth added, according to Motilal Oswal's Annual Wealth Creation Study 2019. According to the study, Reliance Industries, Indiabulls Ventures and IndusInd Bank are the biggest, fastest and most-consistent wealth creators, respectively. The number of PSUs in the top-100 wealth creators is only nine, namely IOC, BPCL, HPCL, Power Grid Corporation, Petronet LNG, Indraprastha Gas, LIC Housing, Bharat Electronics and NBCC.
In a bid to resurrect Air India privatisation, the government is planning to give flexibility to potential investors to decide on the humongous debt with the national carrier, a top official has said. The flexibility to potential investors on the quantum of the Rs 60,074 crore debt that they want to absorb will replace the current condition of the buyer taking over more than a third of the debt and transferring the rest to a special purpose vehicle, Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey said.
Independent market analyst Ambareesh Baliga points out the red flags that retail investors should not have ignored and lists three scenarios -two of these scenarios offer a glimmer of hope to retail shareholders of Yes Bank - that could play out in the coming days.
The due date for filing Income Tax returns for 2019-20 has already been extended till November 30, 2020.
Life Insurance Corporation has mopped up over Rs 5,200 crore (Rs 52 billion) from Varishtha Pension Bima Yojana, but its market share from other products dipped further to 87.76 per cent till January.
'We may bite the bullet and draw up plans for privatisation.' 'If that is done now, the sale of the government stake will fetch money; a delay will see erosion in whatever value is left in these banks,' says Tamal Bandyopadhyay.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Life Insurance Corporation of India chairman S B Mathur on Monday said the corporation had no intention to pick up strategic stake in UTI Bank or in any other bank.
The airline's 100 per cent shareholding in profit-making budget carrier Air India Express as well as 50 per cent shareholding in equal joint venture Air India SATS Airport Services would also be sold.
In what could be a major relief to policy holders, LIC and other insurers are likely to absorb the 10 per cent service tax and 2 per cent education cess this fiscal.
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