The cost of paying the subsidy in cash has increased the money spent by the government.
USL board said its second forensic audit by EY has revealed fund diversion worth Rs 1,225 cr to Mallya companies.
The country's exports are expected to contract by 5.8 per cent and imports by 11.3 per cent during the second half of the current financial year, though implementation of several measures by the government would help support exports going forward, according to the Economic Survey 2021. With gradual recovery of economic activities, the survey said that imports and exports have picked up. During the first half of 2020-21 (April-September), exports dipped by 21.31 per cent to $125.25 billion while imports declined by 40 per cent to $148.69 billion.
India's cities must switch over to piped gas leaving LPG cylinders.
The most difficult case for the consumer is when your card is cloned and used online.
Case in the US relates to an Airbus Corporate Jet
The US is pressing for taxing digital economy through the 'marketing intangibles' principle and the UK through a 'user-base' principle.
MEIL has become one of the fastest growing and most successful infrastructure and engineering, procurement, and construction companies in the country in recent times.
Not declaring the black money under the scheme now, but showing it as income in the tax return form would lead to a total levy of 77.25 per cent in taxes and penalty. In case the disclosure is not made either using the scheme or in return, a further 10 per cent penalty on tax will be levied followed by prosecution.
The agency filed the prosecution complaint under the Prevention of Money Laundering Act before a special court in Mumbai and said Naik's "inflammatory speeches and lectures have inspired and incited a number of Muslim youths in India to commit unlawful activities and terrorist acts."
'... not even a moral one, let alone a legal one.' 'Even if it is assumed that Deepak Kochhar tried to influence his wife into doing something dodgy for his 'social acquaintance', why would she do it?' 'By all accounts she has been granted share options in ICICI Bank of a very substantial amount which easily makes her a multi billion-pati.' 'She did not become CEO against some stiff competition by being stupid and concocting devious cock-and-bull renewable energy stories.' S Murlidharan, former managing director, BNP Paribas, unravels the Deepak Kochhar-Videocon controversy.
Assuming that demonetisation had not happened, the value of notes in circulation this year could have increased to Rs 19.3 lakh crore. But what we have, instead, by the end of August is a 20 per cent lower figure for currency notes in circulation, says A K Bhattacharya.
The Indian authorities feared that these apps were transferring consumer data to locations outside the country, especially China, in an unauthorised and surreptitious manner. With servers in India, the data of local consumers would be stored in the country.
Tax Guru Anil Rego answers your personal income tax queries.
The demand for extension of the GST cess regime among others was made by several state finance ministers at a pre-budget consultation called by Union Finance Minister Nirmala Sitharaman in New Delhi. Besides, many states also demanded raising the share of the Union government in the Centrally Sponsored Schemes (CSS). Currently, the central government and state government share in some CSS is 60:40 while in others it is 75:25.
New schemes allows consumers without Aadhaar to receive cash directly in their bank accounts
Over 25,600 cases of banking fraud reported up to December 21, 2017, says Minister RS Prasad.
As many as 75 million households that do not have access to banking services will be covered and at least one bank account opened for each household, against the earlier proposal of two.
Air India pilots and crew often play musical chairs, leading to a substantial revenue loss for the airline in an inefficiently managed set-up
India's economy has bounced back amazingly from the Covid-19 pandemic and nationwide lockdown over the last one year, but it is not out of the woods yet, according to the World Bank, which in its latest report has predicted that the country's real GDP growth for fiscal year 21/22 could range from 7.5 to 12.5 per cent.
Take part in the growth story, Amit A Shah tells Corporate India.
It is absolutely difficult to retain a healthy credit report if you have a history that shows your inability to cover up debts and repay loans regularly.
The company will transfer its wallet business, which has over 218 million mobile wallet users, to the newly incorporated entity -- PPBL -- under the payments bank licence awarded to Vijay Shekhar Sharma, the founder of One97 Communications that owns Paytm.
The annual earnings of a non-executive chairman of a PSB is capped at Rs 10 lakh, inclusive of fees for attending board meetings. This is way below the compensation of the chairman of any private bank, reveals Tamal Bandyopadhyay.
The sources further said that the government has implemented a series of interventions in the past four months to provide relief to the sugarcane farmers and to ensure clearance of their dues.
The Centre has projected reining in its fiscal deficit at 3.3 per cent of GDP in FY19.
The agency has issued a provisional order attaching the farmhouse located in south Delhi's Mehrauli area under the provisions of the Prevention of Money Laundering Act. It said the book value of the asset is Rs 6.61 crore but its market value is "worth Rs 27 crore and is in the name of Maple Destinations & Dreambuild".
FBT was an unpopular tax and withdrawn before the General Elections in 2009
The move came a day after the Election Commission announced dates for the forthcoming assembly polls in his state.
The experience of direct cash transfer under PM-Kisan will be useful in designing a larger scheme of DBT for farmers combining all subsidies and support for the agriculture sector in the future, say Ramesh Chand & SK Srivastava.
EPFO had started allotting UAN numbers in July 2014.
The Finance Commission has substantially increased the allocation of funds to panchayats, but a large part of it is apportioned by state governments.
'If 99.99 per cent of these micro borrowers are good at repaying their loans, why can't we look at the SMEs and MSMEs and replicate the same model for them with our stringent risk management system,' Chandra Shekhar Ghosh, chairman and managing director of India's newest private sector bank, tells Prasanna D Zore/Rediff.com.
Stay ahead of the game; learn the tricks from Ecom king Jack Ma.
As many as 24.27 crore accounts have been opened under the scheme and the percentage of zero balance has come down to 24.43 per cent
Three recent initiatives kicked off with renewed vigour to improve governance were actually started, perhaps in a different format by the UPA government.
CBI has registered a case against general secretary of Mumbai BJP Mohit Kamboj, his jewellery manufacturing firm Avyaan Overseas, its directors, few mid-level bankers and others for alleged diversion of funds by availing fraudulent foreign bills negotiation limit and export packaging credit limit, issued by lender Bank of India between 2013 and 2018.
'China would want to take a tougher stance against India forming those strategic partnerships and prevent Quad from becoming a military alliance.'
The project is expected to be activated by the end of this month.
The government has opted for the RuPay debit card over the Aadhaar-based platform for "last-mile" authentication in its Pradhan Mantri Jan Dhan Yojana.
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