Tax department sends notices saying they are liable to pay MAT.
Oil and gas players' wish list includes incentivising E&P investments and reintroduction of income tax holiday for exploration and production activities, among others.
Insurance companies are seeking a separate deduction limit of Rs 1 lakh for insurance premium payment under Section 80C of the Income Tax Act in the upcoming Union Budget to bring in more people under the ambit of insurance. The insurers also want reduction in the goods and services tax (GST) rate of 18 per cent currently applied on health insurance products to 5 per cent to make such products more affordable to common people. Finance Minister Nirmala Sitharaman will present the Union Budget for 2022-23 on February 1.
After coming out of CBI headquarters in New Delhi, Chidambaram said he had appeared before the CBI and the first information report did not contain any allegations against him.
The CBI has lodged an FIR against three persons and unidentified officials of the Central Board of Film Certification (CBFC) over the allegations of actor Vishal that he had to pay Rs 6.5 lakh to get a certificate for his film Mark Antony, officials said on Thursday.
The raids were conducted on Wednesday evening to Thursday morning, he said. There was no objection to the raids by Hossain, a two-time TMC MLA and a businessman.
It is expected that her statement will be recorded under the Prevention of Money Laundering Act and she would be confronted with documents and statements made by Shivakumar with regard to a trip to Singapore he made with his daughter in 2017.
Maran challenged reports that he and another company official have been summoned as accused by a Delhi court in two tax evasion cases
In nearly 100 seats, the BJP stands almost no chance of winning. In 200 seats, it is a direct fight between the BJP and the Congress where the BJP has an upper hand. In 243 seats, the BJP is pitted against regional parties and it is not going to be easy. That is why 400 seats may end up as a pipe dream, states Ramesh Menon, author of Modi Demystified: The Making of a Prime Minister.
The two-wheeler segment has shown signs of recovery in the first half (H1) of calendar year (CY) 2024, largely driven by improving performance in rural areas. According to the Federation of Automobile Dealers Associations, rural contribution to two-wheeler sales surged by 57-60 per cent in the April-June quarter of 2024-25, indicating a rising demand in these regions. Experts believe that this trend will continue, supported by a favourable monsoon season and government initiatives aimed at rural development.
The Enforcement Directorate has questioned Yash Birla, Chairman of Yash Birla Group, in connection with certain overseas financial transactions, officials in the central agency said on Monday.
The DMK also warned of legal action against those who attempt to link Sadiq with either the party or its leaders.
The Income Tax Department had earlier instituted an inquiry on the expenses incurred on the wedding of Laloo and Rabri's daughter.
The Centre and states are looking to further tighten the GST registration process and legal measures to deal with the rising cases of fake invoicing. A meeting of the law committee of the GST Council has been convened on Wednesday to discuss these issues, finance ministry sources said. The committee, comprising senior central and state tax officers, would also discuss the GST fake invoice frauds, further tightening of the GST registration process and work out other legal measures including necessary law amendment required in the GST Act to curb the menace of fake invoicing, they added. Also the provisions related to deemed registration under Goods and Services Tax (GST) law may be tightened to prevent the misuse of such provisions by fake dealers and the provisions related to suspension of registration may also be streamlined to make the procedure of suspension and cancellation of registration more efficient and faster, so that such fraud operators can be prevented in time from continuing to pass on fake credit down the chain.
The tax portal problem is a goof-up by both sides, and making Infosys the only villain in the story is quite unfair, argues Shyamal Majumdar.
'If equities perform well in a year, withdraw money from equities. If the equity market is down, shift withdrawal to the debt portion.'
Chaudhari was released from Arthur Road Jail in central Mumbai after completion of formalities, including furnishing of a cash bail of Rs 1 lakh, his lawyer Mohan Tekavde said.
The special court, however, did not permit the ED to attach the paintings owned by Modi and seized by the Income Tax department as the Bombay high court had earlier directed for the artworks to be auctioned but the money to be deposited and not disbursed.
This is because no prosecution complaint has been filed in any of these cases under the Black Money Act.
Chidambaram said that if the government is of the view that Karti has alleged undisclosed assets he would ask it to make a list in this regard and his son will voluntarily execute any document necessary to transfer such assets to it for a nominal consideration of Rs 1.
Enhanced scrutiny, modified auditors' report and new return form part of exercise to curb misuse of tax exemption.
A readout of the meeting reportedly said Lord Johnson "made clear that he was keen to see a bigger Infosys presence in the UK and would be happy to do what he could to facilitate that".
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.
A Delhi court on Monday sent to 14-day judicial custody the former managing director and chief executive officer of National Stock Exchange Chitra Ramkrishna in connection with the co-location scam case.
They said Chaudhary was arrested on Tuesday night after he was questioned at length in the case at the office of the central investigative agency in south Mumbai.
The step had been taken to lend the required 'authenticity' to electronic communications.
The CBI had sought the sanction of the government to prosecute the international human rights organisation because of mandatory clause of Section 40 of the FCRA.
Calling the action of the ED as harassment, he questioned the timing of the summons when the Congress' Bharat Jodo Yatra was on and when the State Assembly session was underway.
The court directed her to intimate to it as well as the Enforcement Directorate at least three days before leaving the country instead of taking prior permission.
With big data analyses, your investments, spends and big purchases are being tracked more closely now by the income tax department.
The government on Tuesday extended the deadline for filing income tax and GST returns, raised the threshold of default that could trigger insolvency of a company, and waived charges on cash withdrawals from ATMs of other banks as a precursor to a broader stimulus package for the economy distressed by the coronavirus outbreak.
ED orders Chanda Kochhar to appear with asset lists also provide income-tax returns in her individual capacity and of companies if she was a director or held any position.
Check the status and immediately act on it
Rediff.com's Syed Firdaus Ashraf traces the journey of PM-CARES from its founding to finally admitting it is not a government fund.
The Crime Branch and Delhi Police had earlier on December 11carried out raids at the office of his firm T&T Law and seized nearly Rs 13.5 crore, of which Rs 2.6 crore was in new banknotes released after demonetisation.
The searches are linked to suspected movement of hawala money during the ongoing polls season and tax evasion, they said.
'India's emergence as a top crypto market comes despite a regulatory and tax environment that can be challenging for the industry to navigate.'
It will be in Modi's interest to reinvent his party, read the writing on the wall that voters wrote, and move ahead. He has little choice now. The country is watching, asserts Ramesh Menon.
The inter-ministerial committee will coordinate investigation against Rajiv Gandhi Foundation, Rajiv Gandhi Charitable Trust and Indira Gandhi Memorial Trust.
Taking part in a debate on the motion of confidence moved by the new 'mahagathbandhan' government, Yadav accused the BJP of having tried to 'break' Chief Minister Nitish Kumar's party in a bid to 'wipe out socialist ideology'.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances