The income-tax (I-T) authorities have tightened disclosure norms for charitable trusts. They now have to declare the nature of their activities from October 1 for tax purposes. The Central Board of Direct Taxes (CBDT) has notified changes in reporting rules where the charitable institutions have to mention whether the activities undertaken are charitable, religious, or both to claim tax benefits.
The Supreme Court on Wednesday asked the Jalan-Kalrock consortium, the new owners of cash-strapped Jet Airways, how much have they paid towards dues on account of provident fund and gratuity to the former employees of the troubled airline. The top court made the query while commencing the hearing on a batch of petitions, including the one filed by the Jet Aircraft Maintenance Engineers Welfare Association, against the October 21, 2022 order of the insolvency appellate tribunal NCLAT.
Kumar said the Commission will follow the time-tested methods of consultations and consensus building in bringing about any reforms and will not shy away from tough decisions, according to an Election Commission (EC) statement.
HNIs are scrambling to do so, as they fear government might introduce inheritance tax. This haste could cost them dear, reports Sanjay Kumar Singh
The petition has referred to the Centre's PM Kisan Samman Nidhi Scheme and other programmes announced by some state governments such as Andhra Pradesh, West Bengal, Telangana, Odisha and Jharkhand which, it claimed, helped the parties in power at the Centre and states get political advantage in the recently concluded general elections.
The bench referred to the June 9 judgement passed by the apex court in which it had upheld the validity of an Income Tax Act provision making Aadhaar mandatory for allotment of PAN cards
Russia's unprecedented rapprochement with North Korea has raised concerns about the re-emergence of a Russia-China-North Korea alliance which could increase the probability of conflict on the Korean Peninsula, explains Dr Rajaram Panda.
The outgo for major subsides, is the highest in the first quarter.
In a bid to control the coronavirus pandemic, Saudi Arabia said it has barred international visitors from making the Islamic pilgrimage.
One out of every two Indians would have Aadhaar number by the middle of 2014, UIDAI Chairman Nandan Nilekani has said as he underlined the unique attributes of the identification system that will lead to public sector reform and governance transformation.
There are about 15.3 crore LPG consumers in the country.
The Odisha government told the assembly over 40,000 workers migrated from the state last year, with the highest number -- 26,151 -- from Balangir.
Team Amazon would also educate and train the khadi artisans to directly sell their products to online customers.
A senior RBI official said the regulator was focusing on performance of banks' statewise and in each district.
Govt targets 1 cr consumers to give up LPG subsidy.
Exchange rates play an important factor in international fund transfers
The govt has a lot more to do then just open bank accounts for the poor in the Jan Dhan scheme.
A remarkable story which helped in transforming a bureaucratic organization, to a customer centric organization. This experience may inspire several government / private organizations to modify or adopt digitisation to transform their business, notes Professor N Ravichandran (retd).
The law officer said the money trail showed that Rs 45 crore "kickback" used in the Goa assembly elections came from four hawala routes.
The addition of new flights at airports will now be based on passenger-handling capacity at security checkpoints, according to the Bureau of Civil Aviation Security (BCAS). The civil aviation security regulator issued directions in this regard on May 22 in a move to reduce congestion and delays inside airport terminals. Following this, airports will have to check passenger-handling capacity at security checkpoints before allotting slots.
The department of financial services has decided to give banks commission, to ensure these accounts are kept active.
'In the long run, I don't foresee major ramifications [about Trudeau's allegations].' 'There's just enough hypocrisy among Western nations for India to douse the outrage.'
It is increasingly clear that Rajasthan, under the leadership of Chief Minister Vasundhara Raje, will lead the country in terms of policy reform.
In her first address to the joint sitting of Parliament as the Budget session began, she said 'Amrit Kaal', described by the government as the 25-year period culminating in the centenary of India's independence, is the time to build an India which is 'aatmanirbhar' (self reliant) and also fulfils its humanitarian obligations.
If suitable action is not taken in corruption cases, it becomes normalised in society, the prime minister said. When a generation sees that a corrupt person in the family is let off without or very little punishment, their courage to indulge in corrupt activities grows manifolds, he said.
A few state-owned banks such as IDBI Bank, Union Bank, Indian Overseas Bank have announced results for FY14.
The government is determined to stop generation of black money, he said.
'BJP has achieved its aim by making him a regional leader dependent on them.'
Says GDP growth rate from 2014-15 to 2015-16 will be greater than that of 2014-15 from 2013-14
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
Many users did not know that their entitlement was not coming to their regular bank account but going to an account which they had not applied for.
On the extension of the PMGKAY, he said it will cost the government Rs 90,000 crore more.
The Finance Ministry on Thursday expressed hope that domestic diesel prices will soon become market linked in the backdrop of softening global crude oil rates.
The Supreme Court on Thursday set aside the Bombay high court verdict cancelling the caste certificate of Amravati MP and BJP leader Navneet Kaur Rana.
Total payments in the economy grew 24.08 per cent to Rs117.43 trillion in value terms in June, compared to Rs94.64 trillion in May.
Telecom and IT Minister Ravi Shankar Prasad said one of the primary focus areas of Digital India is Pillar 5: eKranti - electronic delivery of services.
Deduction on home loan interest cannot be claimed when the house is under construction
In an online chat with Rediff.com readers, G Srikanth, partner, GSV Associates, chartered accountants, Chennai and member of the Institute of Cost and Management Accountants, answered queries about the new income tax proposals mooted in the Union Budget 2020-2021.
'The agenda in politics should be service-oriented. But in Telangana the mandate of those who got mandate -- their entire focus is to abuse Modi'
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