The new provision under the Income-Tax Act may enable the authorities to seize trustees' personal assets if there's a breach of objectives governing registered charitable trusts.
The fair market value of an immovable property will be higher from the acquisition cost.
The S&P BSE Midcap and S&P BSE Smallcap indices gained 0.4% and 1%, respectively
In the aftermath of the Karvy incident, lending against third-party collateral facility raises questions over regulations concerning banks and brokers which are at loggerheads. While Sebi and NSDL have ordered the transfer of securities, which were kept as collateral, lenders followed the old business model of sanctioning loan against shares and allegedly overlooked certain parameters. Legal experts feel that this could lead to a collapse of the loan-against-shares market as it raises questions over the sanctity of the pledged securities.
The Competition Commission of India (CCI) is to be congratulated for imposing a large fine, of nearly Rs 1,800 crore (Rs 18 billion), on Coal India Ltd for alleged abuse of its monopolistic position.
What's required is proper implementation of the rules and better coordination between market intermediaries such as stock exchanges and clearing members who play a key role in monitoring brokerages.
Indian promoters Poddars to relinquish control for severance package.
Out of 3.3 crore applicants, over 19 lakh people were excluded from the final NRC published on Saturday.
Vodafone's operating loss from India business jumped to 692 million euros in April-September from 133 million euros in the same period last year.
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Stating that there are strong inter-linkages between banks, NBFCs and other deposit-taking entities, he said for monetary policy to be effective and financial markets to remain stable, they should be regulated by the central bank.
The origin of the challenge is the so-called "fresh start" process. Many in the MFI industry apprehend that such a law in India will encourage small unsecured borrowers to default and destroy the credit culture. So, while'Fresh start' is a welcome step as it will free up the debtors from the archaic laws of the colonial era, debtors need handholding and counselling to prevent any misuse, says Tamal Bandyopadhyay.
For the PMO this is urgent as the Digital India framework would depend on how the telecom companies perform. It is also linked to the proposed auction of 5G airwaves.
For the June quarter, sales for DLF were down 25 per cent at Rs 1,725 crore (Rs 17.25 billion) over the same quarter a year earlier.
This is one of the rare orders by Sebi where it has barred a bluechip firm and its top promoter/executives.
The stock fell by 24.5 per cent to its 52-week low level of Rs 111.25 in opening trade at the BSE.
Under the new system, put in place as per recommendations of an independent consultant, this 12-month target would apply to all the cases where an investigation has been initiated this year onwards, Sebi Chairman U K Sinha said.
Representatives of the British telecom company on Friday met senior finance ministry officials, in search of an amicable solution.
CBI not to need prior approval to probe corrupt govt officials.
A Bangladeshi court on Tuesday night granted a last minute reprieve to senior Jamaat-e-Islami leader Abdul Quader Mollah, staying his execution shortly before he was to be hanged for genocide during the country's 1971 liberation war.
As NCLAT chair, lack of basic infrastructure remains Justice Mukhopadhaya's biggest challenge. The lack of permanent staff to take down orders in shorthand and later type them out for him to correct is just one among many. In cases where there are a number of intervening parties and applicants, the courtroom is often so jam-packed that even the senior advocates have failed to find place inside.
The Finance Ministry is of the opinion that Vodafone might drag its tax dispute to court.
Under the hybrid-till model, a portion of non-aeronautical revenue (commercial revenue) at the airport is taken into consideration while fixing the landing and parking charges, user fees and other aeronautical charges.
Looking beyond the lesser penalty regime, in its 10th year of existence, the CCI needs more branches, according to experts
Almost 2,000 companies whose private provident and pension funds have invested in non-convertible debentures of IL&FS group firms are staring at the prospect of booking losses to the tune of Rs 9,000 crore or more if the interest income is added.
Reliance Infra-backed BSES discoms have sought Rs 450 crore "dues" from Delhi government and the Municipal Corporation of Delhi to overcome their immediate "financial difficulties" and avoid black outs in 70 per cent areas even as the AAP dispensation maintained it will not adopt a "lenient" approach in dealing with the firms.
The bill would prohibit unaccounted money from being pumped into the sector and as now 70 per cent of the money has to be deposited in bank accounts through cheques.
The only objective of the government's ordinance was to protect it's loyal ally, says BJP's Arun Jaitley
The United Progressive Alliance government's confidence about getting legislative business done in the monsoon session of Parliament, beginning August 5, might be misplaced.
A declining rupee, elevated crude oil prices and sustained foreign fund outflows added to the gloom
'Under this government, tax laws have become more draconian, and the government itself is setting stiff, unrealistic targets for tax officials, who have got more powers to harass us,' points out Debashis Basu.
Senior India hockey player Gurbaj Singh was suspended for nine months on Monday for allegedly indulging in groupism and creating disharmony within the team.
It further said that he cannot live merely on 'past glory' as the trust has been reposed in him for defending the country.
Adulterated food can cause cancer, insomnia and other neurological problems, and adulteration is a growing concern across India
Undisclosed overseas assets such as immovable property, jewellery, shares and art works will be valued at fair market price for the purpose of tax and penalty under the new black money law.
Selling property below market value can lead to litigation. Tinesh Bhasin offers tips on how to avoid it.
The top court was hearing an appeal of the former judge against whom a full court of the Allahabad high court, on September 02, 2006, had resolved to punish him with curtailment of 90 per cent of pensionary benefits with immediate effect.
DLFknowingly suppressed material facts: Sebi
The new Insolvency and Bankruptcy Code has serious drawbacks, finds out Somasekhar Sundaresan.
They just wanted their angst noticed, and as a symbol of recognition, Jallikattu, restored without the annual ritual of court cases and adjournments, explains N Sathya Moorthy.
