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."
Restrict investment to Rs 50,000 for tax benefits, experts tell Sanjay Kumar Singh, but caution that taxation at maturity and compulsory annuities are dampers.
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).
The Specified Undertaker of Unit Trust of India (SUUTI) is ready to pay the Rs 8,000 crore due to the 1.2 million investors in Unit Scheme 1964 (US-64), many of whom have been associated with India's oldest mutual fund scheme for 44 years.
SIPs keep MFs afloat as investors redeem Rs 1.3 lakh crore in one year
Penalties for non-disclosure or inaccurate disclosure of these details can be severe.
Real estate firms like DLF, Prestige, Phoenix Mills to benefit.
Total assets under management (AUM) for September stood at Rs 20.4 lakh crore compared with Rs 20.6 lakh crore at the end of August.
Diageo-USL integration pushed by at least two months; Firm likely to rework agreements and seek approval again
The new AIS is expected to make the taxpayer's task of filing ITR easier and faster, points out Bindisha Sarang.
Agents often influence customers into buying new products every year instead of continuing with their existing policies
R H Patil was on Thursday appointed chairman of UTI Asset Management Company, the country's largest mutual fund.\n\n
SEBI said it has cancelled the portfolio management licence held by Sahara Asset Management Company Pvt Ltd
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.
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.
For the wealthy, post-tax returns of debt funds would work out better
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.
Nasreen, who served as the director of the Indian Cultural Centre at the high commission of India in Male, Republic of Maldives, from 2019 to 2023, shared insights into the growing influence of China and Pakistan in countering India's soft power.
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.
Exemption from minimum alternate tax for REITs & infrastructure investment trusts; Depository receipts on all securities eligible for tax benefit
The trick is to know how long you are supposed to hold which document, observes Bindisha Sarang.
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.
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.
It is very important for founders and entrepreneurs to do thorough background research about the investors, before confirming any association, says Nikesh Patadia.
Manipal Group chairman Ranjan Pai is in early discussions to invest in Byju's-owned Aakash Educational Services Limited (AESL). According to sources in the know, Byju's founder and chief executive officer Byju Raveendran, who owns a 30 per cent stake in Aakash, is expected to partially offload his holding to Pai for $80-90 million (about Rs 650-740 crore). Raveendran may use the money to repay a large part of the Rs 800 crore loan that Byju's raised from US-based investment firm Davidson Kempner Capital Management in May, after facing a 'technical default', the sources said.
Missing the deadline for filing Income Tax returns can lead to consequences.
Senior citizens should avoid putting their entire retirement corpus in SCSS.
Modi attended the 20th ASEAN-India Summit in Jakarta. Secretary-General of ASEAN Dr Kao Kim Hourn also attended the summit.
The 35-year-old fails to understand how to decide whether a particular scheme should be kept in one's portfolio or not.
Debt fund managers think the Reserve Bank governor might at best go for one rate cut in April.
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.
In April, the inflows into equity schemes dropped 60% compared to the previous month to Rs 4,608 crore, the lowest since Sept 2016.
Salil Dhawan explains why you must invest early in life.
Retail investors should not invest for bonus or dividend because in order to make money over the long term.
The declaration said the SCO leaders reaffirmed their commitment to peaceful settlement of disagreements and disputes between countries through dialogue and consultations.
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.
The target was for banks to sell Rs 2 trillion worth of non-performing assets to NARCL, the so-called 'bad bank, by 2021-2022. Only 10 per cent of this has been executed.
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.
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