A whopping 29 per cent growth in the Centre's fiscal deficit to Rs 1,55,833 crore (Rs 1558.33 billion) or 6.8 per cent of GDP in 2001-02 has made the Comptroller and Auditor General sceptical of the long term target of two per cent by 2006.
The shift to a shorter T+3 settlement cycle for initial public offerings (IPOs) will be a big test of the domestic market structure, requiring players in the ecosystem to work harder to meet the squeezed timelines, according to industry insiders. The Securities and Exchange Board of India (Sebi), has announced that the transition to the T+3 cycle will be voluntary starting next month and mandatory from December 1. The new mechanism will necessitate quicker confirmations from banks and speedy verification of permanent account numbers (PANs) for all applicants.
The Congress leader is also being probed by ED in two separate money-laundering cases of Aircel-Maxis and INX Media.
Missing the deadline for filing Income Tax returns can lead to consequences.
Tax consultants and chartered accountants have started receiving a flurry of calls from their clients - both corporate and individuals - seeking clarity over changes in the reassessment regime made during the recently concluded Budget Session of Parliament. Tax experts apprehend the amendments may lead to the income-tax (I-T) department sending out more notices. The new provisions, effective from April 1, have extended the scope for tax sleuths to reopen the past assessments.
The Congress declared Rs 526 crore as income from unknown sources which is 15.57 per cent of the total income of the national parties from unknown sources, the ADR said.
Many federations and former athletes alike have been calling for an anti-doping legislation to implement the existing rules.
The Delhi high court on Friday advanced to December 10 the hearing on pleas to declare the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund a 'State' under the Constitution and a 'public authority' under the Right to Information Act to ensure transparency in its functioning.
What the INDIA alliance needs is neither a counter to Modi's tall personality and undiminished charisma nor a counter-narrative to his Hindutva agenda, now centred on the Ayodhya temple consecration on January 22, argues N Sathiya Moorthy.
The minister also said that four cases of corruption in defence deals have been registered by the CBI since 2015.
The fall in the ratio of customs and excise duty collection to GDP has resulted in an overall decline of tax-GDP ratio from an average of 9.32 per cent during the 8th Plan
As per norms, sanction for prosecution of government employees accused of corruption has to be given within four months' stipulated time.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
A special audit will look into any pricing anomalies in the transactions between the two, according to a source. FTIL had a contract for helping the exchange with its technology needs.
If they are made accountable, bad loan cases will shrink dramatically, recoveries will rise, and the NCLT process will be more manageable, asserts Debashis Basu.
Vinod Rai, former Comptroller and Auditor General of India, former India women's captain Diana Edulji and banker Vikram Limaye were present at the meeting held at the IDFC Bank's premises in suburban Bandra-Kurla Complex.
The PM CARES Fund is not a Government of India fund and the amount collected by it does not go to the Consolidated Fund of India, the Delhi High Court has been informed.
In its report tabled in Parliament, the national auditor said the Dassault Aviation and the MBDA proposed in September 2015 to discharge 30 per cent of their offset obligations by offering high technology to the Defence Research and Development Organisation (DRDO), but the two firms are yet to do it.
The only reason for the new deal is to give Rs 30,000 crore to industrialist Anil Ambani, the Congress chief alleged.
The solicitor general said that the PM CARES Fund is a 'voluntary fund'. "It is a public trust. It is a body where you can make voluntary contributions and no budgetary allocations to the NDRF or SDRF are being touched. What has to be spent will be spent," the law officer said.
A Congress minister has defended the former Ghulam Nabi Azad-led Congress government in Jammu and Kashmir in the wake of the Comptroller and Auditor General's disclosure that it framed rules in violation of the Roshni Act under a Rs 25,000 crore land-transfer scam.
Supplementary provisions exceeded the original provision by as much as 239,900 per cent in 2014-15.
Some doctors were absent from duty for 20 years, others for 15, some for 12. About 64 doctors remained absent from duty for more than five years.
India's winning streak in elections to UN bodies demonstrates it is time for the country to become a permanent member of the Security Council and those who doubt this can no longer behave like "ostriches in sand", the Indian envoy to the world body has said.
CAG recommended fixing a definite time frame for rolling out simplified GST return forms.
Total outflow and inflow of foreign investment in general for 2014-15 fiscal was $6.42 bn and $75.71 bn, respectively
The government's decision to buy 36 Rafale fighter jets from French company Dassault has become a controversial political issue, with the main opposition party Congress levelling allegations of corruption and impropriety, and the ruling dispensation defending the move.
Lt Governor says discoms must cooperate or face cancellation of licences. Ficci cries interference.
Jaitley assured the Lok Sabha amid the ongoing standoff between Indian and Chinese military in the Doklam area.
The Comptroller and Auditor General in 2012-13 had made certain observation in a report and 'we are improving it', he said.
In a proposal to FinMin, the Banks Board Bureau suggests asset sales to PSUs within a deadline to recover bad loans.
DoT though failed to implement TRAI's recommendations to levy spectrum usage charge
Violation of the rules will attract a fine of Rs 4000, the chief minister said.
Prime Minister Modi saw a reflection of himself -- she does not come from a political background, has no lineage, and had a lifetime of personal struggle and sacrifice.
Government auditor CAG on Friday pulled up the Income Tax Department (ITD) for allowing irregular tax exemption to two Tata trusts involving tax implication of over Rs 1,000 crore (Rs 10 billion).
Opposing the Centre's stand that the PM CARES Fund was not a government fund, a lawyer told the Delhi High Court Wednesday that there was no factor to show that the fund was private in nature.
The Income-tax Department has allowed irregular exemptions on TV rights from BCCI to four cricket associations resulting in non-levy of tax to the tune of Rs 37.23 crore, the Comptroller and Auditor General (CAG) said on Friday.
Congress leader Sanjay Nirupam on Monday slapped a legal notice on ex-Comptroller Auditor General Vinod Rai accusing him of defamation and threatened to launch criminal proceedings if he did not apologise for remarks that the MP had asked the former chief auditor to drop Manmohan Singh's name from 2G report.
India was among the top-five economies with the largest general government capital stock level, said, in 2015, an International Monetary Fund report called "Making Public Investment More Efficient". The report fuelled a debate on countries sitting on piles of cash that could be used better. India was believed to have public assets worth $4.5 trillion. The report urged countries to start asset recycling. Six years after the report, Australia's success in asset recycling has turned India into a believer; despite doing averagely in its previous efforts on roads, railways or meeting its divestment targets.
The BBMP advocate informed the court that the number of potholes being filled up is being updated every day and a total of 2,010 potholes had been filled and only 221 potholes remained till September 14, 2022.
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