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 trustees would meet at the regional office of the EPFO in Bengaluru, the capital of the Labour Minister Mallikarjun Kharge's home state Karnataka.
The bill to amend payment of gratuity Act in order to double the ceiling of tax-free gratuity to Rs 20 lakh, would soon be placed before the Union Cabinet for approval.
Reliance Capital Asset Management Company (RCAM) and ICICI Securities Primary Dealership have been selected to manage Rs 60,000 crore (Rs 600 billion) provident fund corpus of coal industry workers.
An appraisal of performance of the board and practice of values and their synergy with the organisational strategy are all crucial for an organisation to evolve into an institution, say Ramachandran Kavil & Sougata Ray.
The company said, due internal processes as applicable for sanctions of loans of such nature and value were followed
The EPFO had decided that 8.15 per cent interest from its debt income would be credited immediately and the remaining 0.35 per cent capital gains from the equity sale would be given later, subject to its redemption.
The Finance Ministry has been pitching for EPFO funds to be invested in the equity markets to maximise their yields.
The trust has around 35 kg of gold and will deposit the gold which is not in day-to-day use of the temple.
Prakash Amte, son of well-known social activist Baba Amte and his Mandakini Amte have been awarded the 2008 Ramon Magasaysau Award for community leadership.
In Chanda's defence, one can always say, why would the Videocon Group take care of her husband as a quid pro quo to get a loan? After all, the group has taken money from the entire banking industry and ICICI Bank's share in the pie is not even 10 per cent. So, if it had a quid pro quo with Chanda to get the money, it must have had similar arrangements with other banks, too. If this is not the case, one must accept that it had got money from all banks, including ICICI, without any under-the-table conditions, points out Tamal Bandyopadhyay.
hashtag 'Mori, please resign' was trending on Twitter in Japan
Few people know Ratan Tata as well as R K Krishna Kumar does. Widely perceived to be among the managers closest to Tata, Krishna Kumar assesses Ratan Tata, the man and business leader, in this exclusive interview to Rediff.com's Vaihayasi Pande Daniel.
The fund house had offered two options to affected investors -- either monetisation of assets by trustees or hiring a third party to conduct the process.
'Looking at the speed at which changes were made post the Franklin Templeton issue, we are awaiting more stricter norms in the months to come.'
Debt-ridden Vodafone Idea (VIL) has decided to opt for converting about Rs 16,000 crore interest dues liability payable to the government into equity which will amount to around 35.8 per cent stake in the company, as per a regulatory filing of the telecom firm. If the plan goes through, the government will become the biggest shareholder in the company which is reeling under a debt burden of about Rs 1.95 lakh crore. "...the board of directors, at its meeting held on 10th January 2022, has approved the conversion of the full amount of such interest related to spectrum auction instalments and AGR dues into equity.
Former Cricket Association of Bengal (CAB) treasurer Biswarup Dey has launched a fresh tirade against the Sourav Ganguly-led Cricket Association of Bengal alleging discrepancy in ticket distribution for the India-England ODI on January 22.
The Hindu members in the Council for a Parliament of the World's Religions resigned protesting the decision to withdraw the council's sponsorship to the 150th birth anniversary celebrations of Swami Vivekananda in Chicago, scheduled for September 27-28.
The EPFO started investing in ETFs in August last year after the CBT in March cleared proposal to invest in equity markets.
R Venkataramanan, the managing trustee of the Sir Dorabji Tata Trust who is responsible for all Tata-run trusts, prefers to keep a low profile but has emerged as a power centre in the group - with more clout than many established CEOs, says Dev Chatterjee.
The Supreme Court on Friday upheld the validity of e-voting process for the winding up of six mutual fund schemes of Franklin Templeton, and said disbursal of funds to unit holders will continue.
The CBT headed by Union labour minister would meet on September 4.
The steep one percentage points increase has taken the interest on PF deposits of 4.71 crore organised sector workers to a five-year high.
Franklin Templeton Asset Management (India) on Monday said the Securities Appellate Tribunal (SAT) has stayed Sebi's order, whereby the regulator had barred the asset management firm from launching any new debt scheme for two years. In addition, the regulator had asked Franklin Templeton to refund investment management and advisory fees to the tune of Rs 512 crore, including interest, collected with respect to its six debt schemes which are now shut. "With reference to the order issued by Whole Time Member(WTM) of Sebi on June 7, 2021, Franklin Templeton Asset Management (India) Pvt Ltd filed an appeal and an application for stay before the Hon'ble SAT. "After hearing the parties, the Hon'ble SAT has stayed the operation of the order passed by the WTM," a Franklin Templeton spokesperson said in a statement. The matter has been listed on August 30, 2021 for further directions, he added.
There will be tripartite pact with member, bank/housing agency and EPFO.
Trustees of Retirement fund body EPFO will decide tomorrow on amending the scheme to provide a minimum monthly pension of Rs 1,000, which will immediately benefit about its 28 lakh pensioners.
The government has asked the Employees Provident Fund Organisation (EPFO) to begin parking three to five per cent of its subscribers' retirement funds in stocks for better returns -- a move that would also increase flow of funds to capital markets by up to Rs 13,000 crore (Rs 130 billion).
The Securities Appellate Tribunal has stayed a Sebi order that barred Franklin Templeton's Asia Pacific head Vivek Kudva and his wife Roopa from the securities market for one year.
The EPFO has about 5 crore (50 million) subscribers and the decision will have a bearing on their retirement fund.
"We are waiting for any input from any quarter," Civil Aviation Secretary R N Choubey said, adding, "We have not received anything so far".
The government will investigate every Indian name appearing in an unprecedented leak of financial records, known as the 'Pandora Papers', which alleged that many world leaders have secret offshore stores of wealth.
The Central Board of Trustees of Employees Provident Fund Organisation is likely to cut the EPF interest by one per cent from the present 9.5 per cent when it meets on May 31.
A 5-judge Constitution Bench headed by Chief Justice Ranjan Gogoi, in its historic verdict delivered on a court holiday, held that the lawsuit of the deity was "within the period of limitation" and granted the title decree in its favour.
Rupa Gurunath, the first woman president of a BCCI affiliated unit, is a full-time Director of India Cements Limited (ICL). She has been found guilty of indirect conflict of interest for ICL's close association with Chennai Super Kings Cricket Limited (CSKCL).
"Reaching an international agreement on how large digital companies are taxed has been a priority for the chancellor since he took office," said a spokesperson for his UK treasury office. "The chancellor's consistent position has been that it matters where tax is paid, and any agreement must ensure digital businesses pay tax in the UK that reflects their economic activities. That is what our taxpayers would expect and is the right thing," the spokesperson said.
The famous pilgrim place of Lord Shiva, the Somnath temple in Gujarat will now be off-limits for non-Hindus as authorities have decided against entry to people following other faiths without prior permission.
This decision would pave the way for crediting Rs 54,000 crore as 8.65 per cent interest for 2018-19, into the accounts of more than 6 crore EPFO subscribers.
NCLT in its judgement said: "The removal of Cyrus Mistry as executive chairperson was because the board lost confidence and not because they were contemplating that he would cause discomfort to Ratan Tata, N Soonawala and others.' "The Board is competent to remove an executive chairman. Mr Mistry's removal from the position of director came because he admittedly sent out company information to the I-T (department), press, and came out in public against the board and the trust."
The Supreme Court on Wednesday issued notices to the Centre and the Reserve Bank of India on a petition seeking probe into the alleged money laundering by the trustees of Mumbai's Lilawati Hospital.
