It is also considering to hike FDI cap for public sector from 20 per cent to 49 per cent
This Act had to be excluded from the list of the obsolete laws to be repealed as some of its provisions provide security to the pensioners against attachment of pension
As per the bank sources, senior-most MDs -- A Krishna kumar and Hemant Contractor -- are part of the committee.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The Santacruz observatory recorded 286.4 mm rainfall during the 24-hour period ending at 8.30 am on Wednesday, making it the fourth highest rainfall in Mumbai since 1974, an Indian Meteorological Department official said.
FinMin does not expect tax or non-tax revenue to reach anywhere close to the targets set in the interim Budget. Sources say that the challenge before the new government will be either to accept the reduced projection and tailor the Budget accordingly or set a more ambitious target.
Finance Secretary Hasmukh Adhia vacates his post on November 30 and Expenditure Secretary Ajay Narayan Jha, the second seniormost bureaucrat in the finance ministry, retires on January 31, the day before Jaitley presents the 2019-20 interim budget.
His statement assumes significance in the light of scams in the state-owned banks.
The trains will, however, only carry essential services personnel identified by the State government.
The training programme will contain thought leadership courses, group exercises, simulations, including role plays and situation analysis and personal explorations workshops
Shankar Prajapati, a 57-year-old potter in Dharavi, has given up hope of getting a bigger house for his family. He lives cheek by jowl in a hutment measuring 200 square (sq.) feet (ft) in the nondescript shanty town. "We have surrendered to our fate. We cannot wait forever for better accommodation. "Perhaps we are not meant to dream big," despairs Prajapati. Raju Korde, president, Dharavi Redevelopment Committee, and a local resident, agrees with Prajapati.
The benchmark index on Wednesday surged 314.92 points or 1.05 per cent to close at 30,248.17 on widespread buying spurred by forecast of a normal monsoon this year.
The North-West is expected to be hit the most.
A proposal to hike the FDI cap in the sector was first mooted by the previous UPA government.
If an assessee misses the December 31 deadline, s/he can file a belated tax return by paying a late filing fee. 'This must be done within three months from the original filing date.'
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The government has notified the agreement between Air India and special purpose vehicle AIAHL for the transfer of non-core assets, ahead of the national airline's takeover by the Tata Group. The government had in October last year, inked the share purchase agreement with the Tata Group for the sale of national carrier Air India for Rs 18,000 crore. The Tata Group is expected to take full control of the airline, it founded in 1932, on Thursday. The cash component of the deal would come once the handover process is completed. The Tata Group would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
RBI will make a presentation on January 24 before the panel on the state of NPAs and stressed loans.
The meeting is expected to chart a road map for cleaning up their balance sheets and boost credit flows, reports Somesh Jha.
Tuesday's meeting at the PM's residence, attended by all the five secretaries in the finance ministry besides top officials of other economic ministries and NITI Aayog, cleared a five-year vision plan for the government to make India a $5-trillion economy by 2024.
Tata Sons has started the process of due diligence of state-owned Air India and its subsidiary Air India Express. Sources said the group has appointed Bain and Company and Seabury Group for this purpose. Once complete, a financial bid will be submitted and a deal to take over the airline is likely to fructify by end of this year or even earlier, people involved in the process said. Simultaneously, the group has brought in veterans in the aviation business from Delta and United Airlines to prepare a plan for post-merger integration of Air India with its existing airline ventures. Tata Sons operates Vistara - a 51:49 percent joint venture with Singapore Airlines and Air Asia India, in which Tatas hold 83.67 per cent stakes.
The airline's 100 per cent shareholding in profit-making budget carrier Air India Express as well as 50 per cent shareholding in equal joint venture Air India SATS Airport Services would also be sold.
With Western corporations, including Microsoft, AWS and Oracle, shutting down their operations in Russia, the rest of the world has become acutely aware of its dependence on a clutch of technology service providers.
A 38-year-old Indian frontline warrior in the United Arab Emirates was on Thursday discharged from hospital after he made a miraculous recovery from COVID-19 that seriously damaged his lungs and left him in an unconscious state for six months.
The ministry seeks to make lending requirements flexible for banks financing key stalled projects.
Nationalisation has served its purpose. It's time to move ahead, keeping majority ownership of the government in a few banks to serve the people, argues Tamal Bandyopadhyay.
The number of terror incidents in Jammu and Kashmir has shown significant decline since the abrogation of Article 370 in August 2019, the Lok Sabha was informed on Tuesday.
Conversion of debt of the stressed telecom player Vodafone Idea Ltd (VIL) into equity could be an option to emerge out of the crisis, lenders led by State Bank of India (SBI) have suggested to Department of Telecommunications (DoT). DoT had called senior bank officials on Friday to discuss the stress in the telecom sector arising out of the Supreme Court order last month on the adjusted gross revenue (AGR)-related dues payable by telecom majors, including Vodafone Idea and Bharti Airtel, sources said. The top court has given a time period of 10 years to telecom service providers struggling to pay Rs 93,520 crore of AGR-related dues to clear their outstanding amount to the government.
However, the road to profitability has already hit some hurdles for the Delhi-based bank as the Union government has rejected its demand for an additional capital infusion of around Rs 8,000 crore in 2018-19
Since December 2018, monetary policy has been eased substantially by RBI with policy rates being cut by 75 bps and policy outlook being changed to 'accommodative'.
"We see the Indian economy rebounding from our projected 6.1 per cent growth this fiscal year to something like 7 per cent in the next fiscal year (2020). We see the factors that will support growth, including monetary policy stimulus, working their way through the pipeline," Jonathan Ostry, Deputy Director, Asia Pacific Department at the IMF, told reporters.
That would result in the military under-spending about Rs 80,000 crore over the financial year.
Office politics exists in many organisations, so don't let that bother you, advises HR Guru Mayank Rautela.
Jet's staff strength stands whittled down to around 4,000, with many former employees having joined airlines in India and abroad.
Even as Microsoft has seen exponential growth for its cloud platform Azure in India, the firm has not yet set up local servers.
In the year-long crackdown on tax evasion, the GST authorities have unearthed over Rs 35,000 crore of tax fraud committed by misuse of input tax credit provision under the Goods and Services Tax (GST) regime. During the 2020-21 financial year, the CGST zones and the Directorate General of GST Intelligence (DGGI) booked about 8,000 cases involving fake ITC of over Rs 35,000 crore, a statement from CBIC said. Under the GST regime, at the time of paying tax on output, entities can reduce the tax they have already paid on inputs.
India Inc gets about Rs 67,000 crore worth of fresh orders in the Sept quarter, a rise of 45% sequentially.
The complaint alleges that Thakur misused his position as IG and both, he and his wife, possessed properties disproportionate to their income.
In a proposal to FinMin, the Banks Board Bureau suggests asset sales to PSUs within a deadline to recover bad loans.
Changes in I-T rules kick in today; to help govt track taxpayers' income, reports Dilasha Seth.
