Rules applicable from April 1, 2014; investors who have already redeemed will also have to pay tax
Business Standard brings to you the many different numbers of crorepatis that are floating around.
CBDT stated the searches were on a group based at Chennai and Tiruchirappalli, strictly in line with the Income Tax Act
The taxmen provisionally sent orders to attach their properties in Mumbai, New Delhi, Pune, Goa and also over two dozen land parcels across the state with a combined market value of around Rs 1,400 crore
ED has initiated action against these account holders in Mumbai, Delhi and other cities.
The case against Balaji and his aides pertains to his tenure as the state transport minister in the All India Anna Dravida Munnetra Kazhagam government during 2011-15.
'We are expected to grow at above 28 per cent this year, higher than the industry.'
It was not immediately known if the residential premises of the industrialist were also being searched by the sleuths.
A bench comprising Justices R F Nariman and S Ravindra Bhat rejected the request of the Solicitor General, appearing for the Enforcement Directorate, to issue a notice to the other side on the appeal.
The money was allegedly diverted by an ATM servicing company in criminal conspiracy with bank officials.
'Non-par plans returns are not market-linked. Hence, they can offer guaranteed returns.'
Long-term tax on capital gains arising from selling a house can be invested in another property under Section 54.
Group term insurance is far more cost-effective than an individual cover.
Every patriot should learn from our history and recognise that celebrating size will neither negate nor obscure the huge economic challenges that India faces, asserts Rathin Roy.
The Income Tax department is mulling to arm its soon-to-be-appointed 'special agents' who will be tasked to crack high-profile tax evasion and money laundering cases in the country.
Court cases, investigations, dwindling sales and fall in market capitalisation could make recovery a tough challenge.
Last year's Budget had created uncertainty about the quantum of tax to be withheld on dividends paid to non-residents, as the exact tax rate was not specified under section 195.
The CBI has registered a case related to the alleged diversion of fertilisers meant for farmers against Agrasen Gehlot, Rajasthan Chief Minister Ashok Gehlot's brother, and 14 others, and carried out searches at his Jodhpur home and 16 other locations in three states, officials said.
The government is expected to dole out some populist policies, especially for the rural / farm sector while presenting the interim budget, given that the country is heading towards general elections over the next few months.
The probe gave a clean chit to the tax department that was being alleged to have harassed Siddhartha.
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After setting up a committee under N Rangachary last year to look at taxation issues regarding the sector, the government has issued several notifications in the last eight months.
Hindustan Unilever Ltd on Thursday reported a 6.9 per cent rise in consolidated profit after tax at Rs 2,556 crore in the first quarter ended June 30, 2023, riding on a gradual recovery in the FMCG industry despite operating in challenging environment. The company had posted a consolidated net profit of Rs 2,391 crore in the same quarter last fiscal, Hindustan Unilever Ltd said in a regulatory filing. Consolidated total income in the first quarter stood at Rs 15,679 crore as against Rs 14,757 crore in the corresponding period last fiscal.
Representatives of the British telecom company on Friday met senior finance ministry officials, in search of an amicable solution.
There are no major legal complications in implementing the bill right now but the Narendra Modi government putting it off for 10 years, he said.
The Enforcement Directorate on Wednesday carried out searches at the Pune residence as also the office of Sunil Shinde, the chartered accountant of businessman Hasan Ali Khan, who is facing charges of money laundering and tax evasion.
The Enforcement Directorate has begun a "preliminary enquiry" into the financial transactions that took place in connection with the Antrix-Devas deal.
Sebi's action on Sahara is showing results, but problems remain.
The note guides taxman to avoid seeking voluminous details.
The court also questioned how Amrapali Group could mortgage the entire projects and secure loan worth thousands of crores of rupees from banks when it was only an agent to develop the property.
Sebi on Monday barred total 85 entities, including Sunrise Asian Ltd, from the capital markets for up to one year for manipulating the company's share price. In its order, the regulator restrained Sunrise Asian and its then five directors from the capital markets for one year and the 79 connected entities for six months. The Securities and Exchange Board of India (Sebi) had conducted an investigation in the scrip of Sunrise Asian for the period from October 16, 2012 to September 30, 2015, based on a reference received from the Principal Director of Income Tax (Investigation), Kolkata.
Want to know how to claim tax deduction on property income you earn? Do you know how to withdraw unclaimed EPF money?
The department of economic affairs is said to be in discussions with various probe agencies, including the income tax department and the Enforcement Directorate, and bankers in drafting the final rules.
The income tax department on Wednesday sealed some rooms and almirahs at the Ranchi residence of former Jharkhand chief minister Madhu Koda, embroiled in the alleged hawala transaction and illegal investments running into more than Rs 2,000 crore.
Malik also alleged that Rajput's girlfriend Rhea Chakraborty was implicated in a 'fake case' by the NCB.
'This move rendered the chiefs of important investigative agencies to the status of daily wage earners. It undermined the autonomy and independence of the agencies.'
Salaried employees get several benefits under Sections 80C, 80D, 80G and others.
Do you have financial planning queries? Ask rediffGURU Kirtan A Shah.
A case was registered against Burman under the Income Tax Act for the offences relating to concealment of income and tax evasion.
A K Bhattacharya digs into the yet-to-be-public report on ways to curb black money and finds out that Modi's next moves could include action on dabba trading, hawala, and education.
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