'Customers are coming in; if they aren't buying, they are at least visiting the stores, which was not the case before the Budget.'
The auditor will also investigate into the circumstance under which Coffee Day Enterprises late founder V G Siddhartha had written the purported letter dated July 27, 2019, alleging harassment by the Income Tax department.
The 75-year-old Congress president, who was supposed to depose before the agency on Thursday, wrote a letter seeking more time on the grounds that the doctors had 'strictly advised her to rest at home following her hospitalisation on account of Covid and lung infection'.
Life Insurance Corporation of India (LIC) February 8 for the first time ever crossed the Rs 7 trillion market capitalisation, as the stock price of state-owned insurer hit a new high of Rs 1,144,45, on rallying 10 per cent on the BSE. The board of directors of the Corporation are scheduled to meet today i.e. February 8, 2024, to consider a proposal for declaration of interim dividend for the financial year 2023-24 (FY24). The board will also consider and approve the unaudited financial results for the quarter and nine-month period ended on December 31, 2023.
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
Aditya Birla Management Corporation has received cash from certain group companies through hawala operators in Delhi, say investigators
A UK court on Monday ruled that Sanjay Bhandari, an accused middleman and consultant in arms deals, can be extradited to India to face charges of tax evasion and money laundering.
Officials said the three were arrested on Monday under provisions of the Prevention of Money Laundering Act after they were called for questioning by the ED in Chennai.
The Bharatiya Janata Party also slammed Kejriwal's continuation as the chief minister of Delhi despite being under arrest, saying it is the most unfortunate moment in the country's political journey and the worst kind of politics.
Double tax exemption on wages paid to women can encourage companies to hire, retain and compensate women better, argues Nitin Pai.
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.'
Reliance Industries Ltd on Monday reported a 5 per cent fall in the net profit for the July-September quarter, as weak oil refining and petrochemical business hurt operational performance.
These products are extremely transparent and are the lowest charged products in the insurance space. The policyholder has to only pay the fund management charge. Hence, from the cost side, ULIPs are very competitive.
The work we have done in the south and the northeast over the last 10 years under Prime Minister Modi's leadership, we have started getting results of the same, he said.
Among the Sensex firms, Larsen & Toubro, UltraTech Cement, JSW Steel, Titan, Bajaj Finance, Wipro, Tech Mahindra and Nestle were the major laggards. Maruti, Power Grid, Axis Bank, State Bank of India, NTPC, HDFC Bank, ITC and IndusInd Bank were the gainers.
A record GST tax collection, an overhaul of the income tax return filing portal and the landmark move to scrap retrospective taxation have set the stage for the next level of reforms in tax administration that include bringing a framework for cryptocurrencies and rationalising the GST rate structure. With tax reforms such as faceless assessment taking roots, 2021 will go down as the year that pivoted the tax administration in a country aspiring to become the world's favourite investment destination. The task ahead is going to be a tough one as the tax department would grapple with taxing cryptocurrencies, rationalising Goods and Services Tax (GST) rates to shore up revenues and post June 2022, the scenario of how the GST revenue plays out for states without the Centre's support of compensation.
'She was lying there and I mustered up enough guts to lay next to her and hold her tight.' 'And she said, "Oh my, Girish, isn't he supposed to be nervous?"' 'Making light of the situation, Girish said, "No, he's been practicing with a pillow the whole day".'
The Enforcement Directorate on Friday conducted multiple raids in connection with its money laundering probe into the alleged irregularities in the National Stock Exchange (NSE) co-location case, officials said. The central probe agency is covering nine premises in Delhi and neighbouring Gurugram including those of some brokers involved in the case, they said. The raids are being carried out under the provisions of the Prevention of Money Laundering Act (PMLA).
Rajasthan Chief Minister Bhajanlal Sharma, state BJP president C P Joshi and Union minister Bhupendra Yadav welcomed them into the party at its state headquarters in Jaipur.
The Central Bureau of Investigation has arrested four income tax officials, including the Kanpur-based Director of Investigations, along with a leading builder to whom the tax officials were suspected to be extending undue favours.
Earlier this month, Sobha Kapoor and Ekta Kapoor, part of the promoter group of Balaji Telefilms, faced shareholder ire when they failed to obtain the requisite votes on resolutions proposing pay increases for them. In recent months, several promoter-directors, including Siddharth Lal of Eicher Motors and Pawan Munjal of Hero MotoCorp, have faced similar situations. Clearly, large institutional shareholders - and public shareholders - are not taking kindly to promoter-directors upping their remuneration takeaways at a time when the prospects of business recovery are clouded by the anticipated third wave of the Covid-19 pandemic.
The Enforcement Directorate on Friday questioned Karnataka Congress president D K Shivakumar in the National Herald money laundering case, officials said.
The combined share of customs and excise duties, service tax, and value-added tax in India's gross domestic product reached an all-time high of 10.5%.
If a house is sold and the proceeds are used to buy another, whoever contributed to the purchase of the first house can claim exemption on capital gains tax
Karnataka Congress president D K Shivakumar on Monday appeared before the Enforcement Directorate in Delhi for a fresh round of questioning in the National Herald money laundering case.
The Delhi high court on Monday refused to quash an Enforcement Directorate money laundering case against media baron Raghav Bahl, saying the plea was "premature".
The Enforcement Directorate (ED) on Tuesday conducted searches at 44 places across the country in a money laundering investigation against Chinese smartphone manufacturing company Vivo and related firms, officials said. The searches are being carried out under sections of the Prevention of Money Laundering Act (PMLA) at locations in several states including in Delhi, Uttar Pradesh, Meghalaya, Maharashtra and others. The agency is conducting searches at 44 places related to Vivo and associated companies, they said.
GST authorities have detected GST fraud of Rs 55,575 crore over the last two years and arrested over 700 persons for causing loss to the exchequer, an official said on Thursday. Over 22,300 fake GST identification numbers (GSTIN) were detected by the officers of the Directorate General of GST Intelligence (DGGI). The government on November 9, 2020, launched a nationwide special drive against unscrupulous entities for availing and passing on Input Tax Credit (ITC) fraudulently by issuing fake/bogus invoices, thereby evading Goods and Services Tax (GST).
Economic stagnation is the advance payment for polarisation, which extracts a terrible price.
Actor Taapsee Pannu and director Anurag Kashyap resumed shooting for their film Dobaaraa on Saturday, both using social media to speak for the first time since Income Tax raids on their premises with posts indicating their spirit remained intact.
Purchase of three plots of land in Haryana in 2005-06 by Congress leader Sonia Gandhi's son-in-law Robert Vadra from a real estate agent is being probed along with a land deal made by his wife Priyanka Gandhi Vadra, the Enforcement Directorate (ED) claimed in a recently filed money laundering case charge sheet.
A bench comprising Justices Sanjiv Khanna and Dipankar Datta took note of the submissions of lawyer Prashant Bhushan, appearing for NGOs 'Common Cause' and the Centre for Public Interest Litigation, that the plea needed to be listed for hearing at the earliest.
CBDT circular issued last month had raised multiple taxation concerns.
Section 276CC provides for prosecution and makes tax evasion punishable with rigorous imprisonment of three months to seven years along with a monetary penalty depending on the amount dodged.
The e-filing website of the I-T department would now provide a facility to pre-validate bank account details.
Government on Monday asked income tax department to take steps to unearth domestic black money.
The purported letter, which is believed to be the final note by the late promoter and widely circulated on social media, contained statements alleging harassment on VG Siddhartha by the Income Tax department.
Many life insurance companies are yet to see a sharp spike in the sale of high-value policies as was widely expected in the aftermath of the government's decision to tax income from insurance policies having an aggregate premium above Rs 5 lakh in a year.
The Income Tax department on Friday conducted separate 'survey operations' at the premises of online news portals Newsclick and Newslaundry in New Delhi, officials said.
'...be it a comedy, thriller or a love story.' 'The bhindi costs Rs 30 per kilo, but the price of potato remains unchanged.'
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