Penalties for non-disclosure or inaccurate disclosure of these details can be severe.
The Supreme Court came down heavily on cash-rich BCCI on Tuesday, saying the cricket body was running like a "mutually beneficial society" and "practically corrupting" its members by not seeking any explanation on how crores of rupees allotted to them were being spent. While scrutinising the fund allocation and expenses of the Board of Control for Cricket in India (BCCI), the apex court also pulled it up for not giving funds to neglected states for promotion of cricket and said it has done nothing to encourage the game. It was also critical of the discrimination meted out to different states by BCCI and said the states begged for money from the board which follows a "no questions asked" policy as a method to buy votes in a certain manner. Lauding the work done by Justice R M Lodha-led committee for bringing out massive structural change in functioning of BCCI, the bench said "this is not an ordinary panel. It is a committee on which we have complete faith. It is committee of judges and its findings have to be relied upon. We cannot say that the findings are perverse."
SIPs keep MFs afloat as investors redeem Rs 1.3 lakh crore in one year
India and the US on Thursday said they are looking forward to the reconvening of the India-US Trade Policy Forum later this year to further enhance trade relationship and identify new areas for engagement.
Agents often influence customers into buying new products every year instead of continuing with their existing policies
The inflows meant assets under management of gold ETFs climbed by over 4 per cent to Rs 13,503 crore at the end of August from Rs 12,941 crore at July-end.
The forthcoming budget is an excellent opportunity for the Government to fulfill its promise of high economic growth.
Exemption from minimum alternate tax for REITs & infrastructure investment trusts; Depository receipts on all securities eligible for tax benefit
For the wealthy, post-tax returns of debt funds would work out better
Retail investors have matured and have moved away from investing in only in-vogue products, says the managing director and chief executive officer of ICICI Prudential AMC.
In India, younger workers willing to work at lower salaries are easily available, so you could find yourself out of a job before 60. Therefore, save for retirement with urgency, advises Sanjay Kumar Singh.
The government has sold SGBs worth Rs 1,990 crore in April and May alone.
The governor made it clear that the RBI is aware of what's happening and acts accordingly, but doesn't make a noise about that, points out Tamal Bandyopadhyay.
The trick is to know how long you are supposed to hold which document, observes Bindisha Sarang.
Modi attended the 20th ASEAN-India Summit in Jakarta. Secretary-General of ASEAN Dr Kao Kim Hourn also attended the summit.
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
In a mixed bag for HDFC Bank ahead of the parent HDFC's merger with itself, the Reserve Bank of India has declined to make exceptions on certain aspects, and has offered some leeway on others. The country's largest private sector lender, which is aiming to conclude the merger with the home finance major by July, had written to the central bank seeking certain forbearances after announcing the $40-billion merger in April last year. In an exchange filing this evening, HDFC Bank said it received a response from RBI on Thursday and also said that there are a few pending issues.
Automotive (auto) major Mahindra & Mahindra (M&M), which is readying to launch nine sport utility vehicles (internal combustion engine/ICE), seven Born Electric Vehicles (BEVs), and seven light commercial vehicles by 2030, has outlined an investment of Rs 27,000 crore in its auto business between 2024-25 (FY25) and 2026-27 (FY27). Over the next three years, the company will deploy Rs 37,000 crore, including its auto business, farm business (Rs 5,000 crore), and service business (Rs 5,000 crore).
In April, the inflows into equity schemes dropped 60% compared to the previous month to Rs 4,608 crore, the lowest since Sept 2016.
The government on Friday proposed hiking the securities transaction tax on Futures & Options (F&O) contracts, a move that will increase the trading costs in the derivatives segment as well as help in curbing excessive trades. In the Finance Bill 2023, passed by the Lok Sabha on Friday, the Securities Transaction Tax (STT) on options is proposed to be increased to 0.0625 per cent from 0.05 per cent and on futures contracts to 0.0125 from 0.01 per cent. Analysts opined that higher STT will shore up the government's revenues to some extent and also discourage excessive trading since a large number of retail traders are losing money in the segment.
Dhanteras has cheered up jewellers as it has turned out to be the best in three years, thanks to the lower price of the yellow metal and pent-up demand. In Mumbai's Zaveri bazaar, buyers came in out force and jewellers did not have to depend on freebies to induce sales, even though all of them had announced some offers. In fact, more discounts were announced for diamond and studded jewellery.
Missing the deadline for filing Income Tax returns can lead to consequences.
Debt fund managers think the Reserve Bank governor might at best go for one rate cut in April.
Retail investors should not invest for bonus or dividend because in order to make money over the long term.
Zee and its lenders had decided to enter into an agreement to not offload the pledged shares amid a sharp slide in the prices of the underlying securities during end-Janury. The terms give the lenders a greater say, upside benefit from the proposed strategic sale, more cover and personal guarantee.
This is aimed at improving liquidity in all schemes and would help them to meet sudden redemption pressures, said Sebi chairman Ajay Tyagi.
India has received the fourth set of Swiss bank account details of its nationals and organisations as part of an annual automatic information exchange under which Switzerland has shared particulars of nearly 34 lakh financial accounts with 101 countries.
Stick to low-cost ULIPs launched in the past few years. Go with an insurer with a good investment team and solid track record of long-term returns, suggests Sanjay Kumar Singh.
About Rs 2,000 crore of realty money has flown into stocks in the National Capital Region in the months after demonetisation.
The declaration said the SCO leaders reaffirmed their commitment to peaceful settlement of disagreements and disputes between countries through dialogue and consultations.
Should you expect 15 per cent return over a period of 20 years? Dwaipayan Bose has the answer
DDinesh Kumar Khara is someone who cares for others's ideas and suggestions.
If he takes the people along with him (which he always does); cares for the customers (80 per cent of SBI's new customers are in the 20-40 age group); and doesn't take his eyes off technology, his job is done, says Tamal Bandyopadhyay.
The new owners of Air India will have to retain all the employees of the national carrier for at least one year post which they can offer a VRS. The gratuity, pension fund and post retirement medical benefits of existing and past employees too would be honoured by the new owner, civil aviation secretary Rajiv Bansal said. Tata Sons has emerged as the winning bidder for Air India with the government accepting its Rs 18,000 crore offer to acquire 100 per cent of the debt-laden state-run carrier.
Sebi had also ordered the fund house to compensate investors who had redeemed their units since the date of allotment of shares in the I-Sec IPO.
A group of pro-Khalistani protesters on Sunday attacked and damaged the Indian consulate in San Francisco, prompting sharp condemnation from Indian-Americans who demanded immediate action against those responsible for it.
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."
While using the family to save tax is legal and smart, ensure you use the ones where clubbing income laws isn't a concern, advises Bindisha Sarang.
In its 59-page order, the capital markets regulator Sebi said that the 10-year restraint period for them would be calculated after taking into account the restraint already undergone by him vide an interim order dated June 17, 2010.
After three consecutive years of infusing huge funds, foreign portfolio investors retreated from the Indian equity markets in a big way in 2022 with the highest-ever yearly net outflow of nearly Rs 1.21 lakh crore. The huge outflow, which surpasses by a big margin the previous record of Rs 53,000 crore net withdrawal in 2008, came amid aggressive rate hikes by central banks globally but 2023 is expected to be better on positivity about overall macroeconomic trends in India, experts said. Apart from global monetary tightening, volatile crude, rising commodity prices along with Russia and Ukraine conflict led to an exodus of foreign money in 2022.
