The market intermediaries have also been told to appoint designated directors to ensure compliance with new norms, who would face penal action for any lapses.
The Income-Tax (I-T) Department nowadays provides pre-filled forms to make the filing of income-tax return (ITR) easier. Nonetheless, you must have a number of documents handy at the time of filing return so that you can cross-check the data in the pre-filled form. "Filing ITR doesn't require you to upload any document. But in case an assessing officer makes an inquiry, you will need to present documents and certificates as proof," says Deepak Jain, chief executive, TaxManager.in.
Government strategists are trying to ensure that the requisite 16 of the 31 states ratify the Bill by the end of this month
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
The Finance Ministry said it has followed standard practice and has not violated any Constitutional provision by not showing interest on tax refund as separate expenditure in the Budget.
'This is a long haul, god knows where it will end.' 'So it is best to conserve all the funds right now for fighting the COVID-19 pandemic.'
Sitharaman's Budget missed deficit target for the third year in a row, pushing shortfall to 3.8 per cent of GDP in the current fiscal as compared to 3.3 per cent previously planned.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Call for fiscal autonomy to Union Territories with Assemblies may get louder with 'special status' to J&K in the Finance Commission, say experts.
Fitch Ratings on Thursday said the resurgence of COVID-19 infections may delay India's economic recovery, but won't derail it, as it kept the sovereign rating unchanged at 'BBB-' with a negative outlook. It projected a 12.8 per cent recovery in GDP in the fiscal year ending March 2022 (FY22), moderating to 5.8 per cent in FY23, from an estimated contraction of 7.5 per cent in 2020-21. Fitch had in June last year revised outlook for India to 'negative' from 'stable' on grounds that the coronavirus pandemic had significantly weakened the country's growth outlook and exposed the challenges associated with a high public debt burden.
Let there be a rule that if the Budget is not passed and funds cannot be drawn from the Consolidated Fund of India, there will be a government shutdown as it happens in the United States, says A K Bhattacharya.
'Had it not been for the complicity of the state and Biren Singh's leadership, these riots would not have spread this far and for so long.'
Performance-based incentives were recommended by the 13th Finance Commission, but omitted by the 14th Finance Commission
Labour Minister Santosh Gangwar said, the purpose of labour reforms is to provide a transparent system to suit the changed business environment.
Reliance Industries, the Tata group, Bharti Airtel and Aditya Birla are among Indian conglomerates that have hedged their revenue and costs linked to the US dollar, giving them financial cover as the rupee fell past 80 against the greenback on Tuesday.
Drop in the number of schemes is less than 3%, despite merger of 38 schemes between Sept 2017 and May this year
As markets complete the first half of the calendar year 2022 (CY22) with a fall of around 9 per cent, the interest-rate hike trajectory by global central banks, paired with the conundrum of inflation and growth, will move the needle for the market, observe experts. Here's a quick rundown on what they'll react to over the next six months.
'Government's focus should be on the expenditure side in this Budget, not so much on the taxation side.'
Nirmala Sitharaman's messaging was clear when she presented a well-balanced Budget with an eye on state elections in nine states followed by a general election next year, observes Ramesh Menon.
Bharti recorded $5 billion liability for past-due AGR fees, but is still completing its self-assessment to determine the final amount.
'There is merit in keeping the central bank's balance sheet strong if the government's fiscal balance sheet is weak.'
The industry is looking at a promising 2016, though experts and even the investors anticipate correction on the valuation side
'This government has always been fiscally conservative. It never resorted to fiscal profligacy.'
Jaitley said the government had earmarked Rs 25,000 crore (Rs 250 billion) for recapitalisation.
Here are the key numbers to watch out for in the Budget for 2022-23, which is widely expected to boost spending towards policies that create jobs, boost manufacturing, helping rural and agri-economy and infrastructure creation. Sitharaman, who had in her first budget in 2019 replaced leather briefcase -- which had been in use for decades for carrying budget documents -- with a traditional red cloth 'bahi-khata', has spurt in tax collections to her aid in the budget that is expected to a spend-all budget.
'That is the one headline the world is reading about India this week, and it is a potentially damaging story...' 'I don't think a panic mentality has set in, but this story is one that investors and market watchers are absolutely seized with.'
Bhupendra Patel can never really break free of intervention from New Delhi. But if he can win over the Gujaratis and improve the BJP's tally substantially, he will have proved that he should be taken seriously.
'We would advise investors to invest in a disciplined way in equities for the long term.'
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Essar group on Friday announced the signing of a USD 2.4 billion (Rs 19,000 crore) deal to sell certain ports and power infrastructure to ArcelorMittal Nippon Steel in one of the largest post-pandemic merger and acquisition deals in India. In a statement, the Ruia-run firm said the deal also envisages a 50-50 joint venture between Essar and ArcelorMittal for building a 4 million tonnes a year LNG import terminal at Hazira in Gujarat. Without giving details, it only identified certain ports and power infrastructure that are primarily captive to operations of the Hazira steel plant, which was acquired by ArcelorMittal Nippon Steel (AM/NS) in 2018-19, as part of the deal.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
This will help the company reduce its debt that has doubled to Rs 40,177.6 crore in four years.
Overall, small savings have amassed Rs 1.17 trillion from April-September - 26 per cent more than the previous year. But in those six months, the economy lost 24 per cent in the first three months, and is slated to lose 10 per cent in the second quarter.
'Everyone says never waste a crisis.' 'When we went into Covid and we were in total lockdown, we were at work.' 'The planes were not flying and we wondered what to do.' 'We looked at each of our performance metrics -- what are customers complaining about, how do employees feel, how do investors feel?'
When the Centre tries to encroach upon the subjects that are under the prerogative of the state, or where the centre tries to evade from any responsibility guaranteed to a state through a constitutional provision/obligation, it poses a threat to federalism.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Private equity players said their research had shown that the PE share after COVID-19 could go up to 8-10 per cent.
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