Sebi has also been asked to put in place a mechanism to monitor the beneficial owner of P-notes
Meanwhile, the Directorate General of Civil Aviation has also ordered an engineering audit of the airline after the carrier is said to have found it difficult to provide equipment to operate some flights.
The net profit of the listed Adani group companies more than doubled year-on-year (Y-o-Y) in the first half of 2023-24 (H1FY24), even as their revenue declined in this period. The nine firms posted a 107.7 per cent jump in net profit at Rs 23,929 crore in April-September compared to the year-ago period. Net sales, on the other hand, were down 14 per cent to Rs 1.49 trillion in H1FY24, data collated by Business Standard showed.
Revised tax forms will be simple; stress on foreign travel and assets has been reduced
Official sources said the ED will focus on the event managers and will also issue summons to them under the Foreign Exchange Management Act (FEMA) to explain how they got the foreign exchange that was paid to the singer.
Keep these things in mind while buying a retirement plan to ensure that you have a smooth sailing in your golden years.
As government makes effort to bring illicit money stashed abroad, Finance Minister Arun Jaitley on Monday asked the I-T department to focus its effort on unearthing 'quite large' black money within the country as well.
The ED is also probing alleged violations of foreign exchange rules by the company since 2006.
These plans aren't likely to put substantial cash in your hands.
The new scheme came into effect on Thursday. However, even after a scrutiny assessment, appeals will continue to be done through personal representation.
CBDT has sought explanation from B R Balakrishnan, former director-general of I-T (investigation wing) and former principal chief commissioner of I-T for Karnataka and Goa, who had ordered attachment of CCD's shares when he was in charge of the Bengaluru region. He retired last month.
It was a unique celebration; there is no other instance where Harijans were feted to celebrate India's Independence, says Prakash Bhandari.
Corporate India continues to be generous in rewarding its shareholders with big dividend payouts. This is especially true for shareholders of companies such as Tata Consultancy Services (TCS), Hindustan Zinc (HZL), and Coal India (CIL) which are seen as cash cows of large business groups and the government. Boosted by a big payout by these three companies, the combined equity dividend payout by listed companies was up 38 per cent year-on-year (YoY) to a record high of Rs 2.27 trillion in 2022-23 (FY23), compared with Rs 1.65 trillion in 2021-22 (FY22).
There may be those who could want to go slow, citing the large pendency of follow-up action and court cases that they would have to process and/or proceed with, before raiding more politicians, observes N Sathiya Moorthy.
In a major relief to Indian information technology (IT) companies operating in Australia, Canberra has agreed to amend its domestic laws to stop taxing offshore income of such Indian companies, as part of the free trade deal inked. This may lead to savings up to $200 million each year for over 100 Indian IT companies operating in Australia. "The Government of Australia has agreed to amend the domestic taxation law to stop the taxation of offshore income of Indian firms providing technical services to Australia. "This will resolve the issue that the Indian government has raised about the double taxation avoidance agreement (DTAA) between the two governments for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income," said a commerce ministry official.
Kapil Sharma: I'm Not Done Yet is truly outstanding, applauds Syed Firdaus Ashraf.
There was no relief for existing home buyers who are stuck in stalled projects and are paying both rent and EMI on their home loans.
A probe report will also be submitted to the apex court investigations are complete.
Under a blueprint currently being vetted by the I-T department, the directorate will house a centralised repository of data culled from telephone and Internet intercepts, banking and market transactions, cross-border deals and even your friendly neighbourhood ATM.
An NCD's credit rating will tell you whether risk possibility is high or low. Instruments rated below AA are regarded as high-risk.
Congress president Sonia Gandhi has sought more time from the Enforcement Directorate to appear before it as she is still suffering from Covid, party sources said on Tuesday.
The arbitration clause is present in almost 95 per cent of corporate agreements, according to tax and audit firm Ernst & Young.
Gandhi, 75, was earlier asked to depose on June 8 but she sought a fresh date from the federal probe agency after she contracted the coronavirus infection.
Businesses with monthly turnover of over Rs 50 lakh will have to mandatorily pay at least 1 per cent of their GST liability in cash, the finance ministry said as it moved to curb evasion by fake invoicing. The Central Board of Indirect Taxes and Customs (CBIC) has introduced Rule 86B in Goods and Services Tax (GST) rules which restricts use of input tax credit (ITC) for discharging GST liability to 99 per cent. "... The registered person shall not use the amount available in electronic credit ledger to discharge his liability towards output tax in excess of 99 per cent of tax liability, in cases where the value of taxable supply ... in a month exceeds Rs 50 lakh," the CBIC said.
The statement from the CBDT came as raids on the homes and offices of Bollywood actor Taapsee Pannu, director Anurag Kashyap and his partners who launched the now shuttered Phantom Films continued in Mumbai, Pune and Hyderabad for the second day. The searches also covered some executives of celebrity and talent management companies KWAN and Exceed, officials said.
The case was registered recently to probe alleged financial irregularities in the party-promoted Young Indian that owns the National Herald newspaper.
Journalist Rana Ayyub rejected allegations on Friday that she "misused" donor funds raised in the wake of the Covid-19 pandemic, saying money-laundering charges levelled against her are "preposterous and wholly mala fide".
The move is believed to be coming after Directorate General of Central Excise Intelligence slapped a notice demanding Rs 252 crore (Rs 2.52 billion) that was allegedly evaded by the chocolate maker for its new unit in Baddi, Himachal Pradesh even before it came into existence, official sources said.
Initially, she was summoned by the agency on Monday but it was deferred by a day.
The key demand drivers -- such as low home loan rates and income tax sops, particularly for affordable housing -- that supported the recovery in H2 FY2021, remain in place and will spur recovery again, feel experts.
The Enforcement Directorate has issued a fresh summons to Trinamool Congress member of Parliament Abhishek Banerjee, asking him to appear before it for questioning on March 29 in a money-laundering case linked to an alleged coal scam in West Bengal, officials said on Thursday.
They said the 22-year-old management graduate will be questioned and her statement will be recorded under the Prevention of Money Laundering Act (PMLA).
The Enforcement Directorate on Wednesday said it has arrested two persons in Chennai for alleged illegal exchange of Rs 6 crore in old notes "in connivance with" sand-mining baron J Sekhar Reddy as part of its money laundering probe post demonetisation.
The court put various conditions on Khaitan, including that he will not tamper with the evidence or try to contact or influence the witnesses and join the investigation as and when called.
Congress leader Rahul Gandhi appeared before the Enforcement Directorate (ED) on Wednesday for the third consecutive day of questioning in the National Herald money laundering case, with the agency seeking answers on decisions taken with regard to the media organisation and its owner Young Indian.
PAN could be used by the probe agencies.
There will be a lot to repair and rejuvenate -- if that opportunity even presents itself, warns Rathin Roy.
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