Alternative Investment Fund refers to any fund established or incorporated in India which is a privately pooled investment vehicle that collects funds from sophisticated investors, whether Indian or foreign.
The bank made a Rs 67 crore net profit, up 21% from the previous year. Its deposits grew 8%, the loan book 10%. Net bad loans dropped from 7.53% to 6.07%. So why was the banker, who headed the bank, not promoted?
"Heard. Judgement reserved. Learned counsels of the Union of India and Reserve Bank of India are directed to produce the relevant records," the bench, also comprising Justices B R Gavai, A S Bopanna, V Ramasubramanian, and B V Nagarathna, said.
Though the system is called faceless, it would have a room for inviting tax payers through video conferencing.
Aadhaar-based electronic verification code will do away with need to send physical ITR-V copies to I-T centre
To decide whether capital gains on surrender of call options are taxable
The Centre received 5.59 lakh public grievances against various government departments in the first half of this year, with the Department of Financial Services (DFS) getting most of such complaints, according to an official report.
The US Trade Representative noted that India's average applied tariff rate stood at 17% per cent, the highest of any major world economy.
The facility can be accessed using internet banking, Aadhaar number, ATM and email.
The specter of how the Munambam issue was exploited during the November by-elections is proof of the price Kerala is paying for its emergent politics. Controversies become the stuff of slow-burn and brinkmanship. The former promises mileage; the latter searches for an advantage, notes Shyam G Menon.
The panel, headed by former Central Board of Direct Taxes chairman N Rangachary, will be in addition to the one set up to review the General Anti-Avoidance Rules provisions to address the concerns of foreign investors.
Opposition MPs in the parliamentary committee scrutinising the Waqf (Amendment) Bill are scheduled to meet Lok Sabha Speaker Om Birla on Tuesday to protest its chairperson Jagdambika Pal's alleged 'unilateral' decisions and attempts to 'bulldoze' proceedings, indicating that they may disassociate themselves from the panel.
With the government clearing the decks for direct listing at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans. In the meantime, most companies may continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk. Sources said that a few key things need to be ironed out further.
This facility, initially, will be available at select ATMs in the major centres.
Taxpayers who have not e-verified their ITRs for 2019-20 fiscal can complete the verification process by February 28, 2022, as the Income Tax department has given a one-time relaxation to assessees. As per law, an income tax return (ITR), filed electronically without a digital signature, has to be verified electronically through Aadhaar OTP, or net-banking, or code sent through demat account, pre-validated bank account and ATM within 120 days of filing the return. Alternatively, taxpayers can send a physical copy of the ITR filed to the Centralised Processing Centre (CPC) office in Bengaluru.
Crypto exchanges have been asked to furnish details this month itself.
The claims were made after the Income Tax department had on July 6 raided 36 premises of the Bengaluru-based Micro Labs Ltd. across nine states.
E-proceeding of tax scrutiny has certain technical and practical issues which need to be addressed before making the system fully electronically driven.
This amount will include Rs 13,100 crore that Economic Affairs Secretary Subhash Garg has been publicly seeking from the central bank's contingency reserve fund since 2017-18 (FY18).
CBDT circular issued last month had raised multiple taxation concerns.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
Income Tax dept to enhance prosecution against large defaulters.
This is the seventh time that the government has extended the deadline for individuals to link their PAN with Aadhaar.
This is not her first stint in North Block or in leading a major economic ministry. She started Prime Minister Narendra Modi's first term as minister of state for finance, was made the commerce minister, and then became the defence minister.
On Aug 28-31, an average of 1.5 mn e-filed tax returns a day, against IRCTC's daily average bookings of 600,000 & Flipkart's 100,000.
The Centre has taken a major step towards increasing efficiency in decision-making by empowering joint secretaries to report to secretaries directly, officials said on Wednesday.
The faceless authority has suggested a host of changes in the assessment process following conflicts and practical difficulties raised by taxpayers since the new regime was introduced. On August 3, the National Faceless Assessment Centre issued a set of standard operating procedures (SOPs) to address several anomalies in the regime. The faceless centre, constituted by the Central Board of Direct Taxes, is the nodal authority and works as an interface for the faceless regime.
The bill to nullify retrospective taxation offers a fair solution within the framework of Indian law and Parliamentary sovereignty to companies which have been subjected to such demands, Finance Secretary T V Somanathan said on Thursday. Finance Minister Nirmala Sitharaman introduced 'The Taxation Laws (Amendment) Bill, 2021' in the Lok Sabha that seeks to withdraw tax demands made using a 2012 retrospective legislation to tax the indirect transfer of Indian assets. The Bill provides for the withdrawal of tax demand made on "indirect transfer of Indian assets if the transaction was undertaken before May 28, 2012 (i.e. the day the retrospective tax legislation came into being)."
The plea, filed by advocate Manohar Lal Sharma, termed the notification "illegal, unconstitutional and ultra vires to the law".
This is the eighth time that the CBDT has extended the deadline for individuals to link their PAN with Aadhaar.
The income tax department is asked to keep names of blackmoney holders under wraps.
The Supreme Court is scheduled to pronounce on Thursday its order on a batch of PILs on the recent Adani group shares crash triggered by the Hindenburg Research's fraud allegations.
The Union finance ministry has asked field officers of the income tax department to not be adversarial to assessees, and to not send high-pitched demands without a proper basis.
The finance ministry has initiated an internal survey of the faceless regime to examine its effectiveness.
The crucial hearing on the PILs by a bench headed by Chief Justice D Y Chandrachud assumes significance in the wake of recent developments in which the Centre agreed to the apex court's proposal to set up a committee, likely to be headed by a former Supreme Court judge, to look into the regulatory regimes.
The government's plan to cut the corporation tax rate while phasing out exemptions may be sound, but it may not mean a reduced tax burden for India Inc.
The due date for filing Income Tax returns for 2019-20 has already been extended till November 30, 2020.
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
A fresh PIL was filed on Thursday in the Supreme Court seeking a probe by multiple central government agencies under the supervision of a panel or a former apex court judge against the Adani Group of companies following allegations of fraud and share price manipulation made by the US-based Hindenburg Research.
