The new Companies Act that came in to force qualified the money mobilised by jewellery companies as deposits and as a result they had to discontinue such schemes.
To say capital gains from stocks are effortless shows little understanding of the treacherous investing terrain, says Debashis Basu.
'Harassment' is the objective, not detention.
The Income Tax Department had last month auctioned several art works that were owned by absconding diamond merchant Nirav Modi for Rs 59.37 crore.
'It is very easy for me to choose different genres, but a lot of actors are still stuck in the same rut.'
ED had earlier issued summons to Mallya for "personal appearance" on March 18 under the provisions of the Prevention of Money Laundering Act (PMLA).
'We are the largest film industry in the world.' 'We employ millions and entertain billions.' 'We generate the highest amount of sales tax.' 'Our stars pay the highest amount of income tax.' 'All I would say is: Don't f*** it up!'
Unless they have capital gains or assets abroad, most individuals will need to file ITR-1 or ITR-2A.
Many developers are facing financial challenges after the IL&FS defaults, after which non-banking finance companies - the major financiers to real estate firms - slowed disbursals.
'Our passionate love for our nation as seen in our anger at slogan shouters does not extend to caring for the nation in other ways. We are one of the dirtiest people on earth and even our holiest river the Ganga can only be cleaned if the Supreme Court orders it, and even then with difficulty,' says Aakar Patel.
It will bring down the cost of a second house because of tax benefits and price appreciation
Vadra's anticipatory bail application is likely to be heard by the court on Saturday.
Sebi had, in February, dropped allegations of fraudulent and unfair trade practices against NSE's former heads Ravi Narain and Chitra Ramakrishna in the co-lo case.
The 58-year-old businessman, who is also the son-in-law of former Karnataka Chief Minister SM Krishna, has been missing since Monday evening from Mangaluru.
The investigating officer of the case had grilled him for over four hours on Friday and about eight hours on Saturday as part of the probe.
While making his first appearance on Friday, after he arrived by air from Bengaluru, the Kanakapura MLA had said he will cooperate with the ED probe.
Jaitley said the Congress leaders created a 'Chakravyuh' for themselves through a series of financial transactions where tax-exempt income of a political party was transferred to a real estate company.
Cigarette companies have substantial wriggle room thanks to India's complex tax structure, which categorises them by length and filter
In an interaction with Jash Kriplani, A Balasubramanian, managing director and chief executive officer, Aditya Birla Sun Life Asset Management Company, shares his optimism on what makes him believe that these cuts can help in addressing multiple issues plaguing the economy, without letting fiscal deficit pose any major risk.
At the time of the media maelstrom around her non-dom status, she hit back at implications that it was in some way indicative of her stronger bond with India than the UK.
This case is the largest investigated by the Pandemic Response Accountability Committee Fraud Task Force to date, US Attorney for the Northern District of Texas Leigha Simonton said in a press release.
With investors asking for a change in the board structure at Byju's, the edtech giant's founder and chief executive officer (CEO), Byju Raveendran, is now asking them to put $300 million into the company for more control. The company has rung up $5.8 billion from investors such as General Atlantic, Sofina, the Qatar Investment Authority, Sumeru Ventures, Vitruvian Partners, BlackRock, Chan Zuckerberg Initiative, Sequoia, Silver Lake, Bond Capital, Tencent, and Tiger Global.
The I-T department also attached 34 bank accounts and fixed deposits, valued at Rs 1.45 crore, of the Gitanjali group.
Wonder how this is possible? Read on how to plan properly to optimise your tax outgo every year.
Between 2011 and 2014, they indirectly determined the price of tyres in the market, says report
The Supreme Court-appointed Special Investigations Team on black money has also proposed that holding more than Rs 15 lakh in cash be made illegal for individuals and for companies, report Tinesh Bhasin and Sanjay Kumar Singh.
Employees are often under this impression that as the employer has deducted tax at source, they need not file income tax (IT) returns.
Flanked by the Trinamool Congress chief, Naidu attacked the National Democratic Alliance government at the Centre alleging that institutions like the Central Bureau of Investigation, Enforcement Directorate, Income Tax department, Reserve Bank of India and Comptroller Auditor General are under "severe pressure".
Treat silver as part of the procyclical or growth assets in your portfolio, advises Sanjay Kumar Singh.
Home prices firm up in 2015 in India.
Sandeep Shanbhag, a chartered accountant and director of Wonderland Consultants, a tax and financial advisory firm, discussed the impact of Budget proposals in a chat with Rediff.com's readers.
The National Stock Exchange (NSE) has got into firefighting mode to control the reputational damage caused by the Securities and Exchange Board of India's (Sebi's) order against its former managing director and chief executive officer Chitra Ramkrishna and others. According to sources, the exchange's management over the past one week has met several key stakeholders, including officials in the finance ministry and Sebi, major shareholders, and trading members, trying to distance itself from the controversy. The exchange plans to hold more meetings in the coming week to ensure that trading volumes and confidence in the bourse don't get impacted, they added.
GST collections in March touched a record high of over Rs 1.23 lakh crore, a 27 per cent growth over the year-ago period, the Finance Ministry said on Thursday. "GST revenues crossed above Rs 1 lakh crore mark at a stretch for the last six months and a steep increasing trend over this period are clear indicators of rapid economic recovery post pandemic," the ministry said. Closer monitoring against fake-billing, deep data analytics using data from multiple sources including GST, income tax and customs IT systems and effective tax administration have also contributed to the steady increase in tax revenue over last few months, it added.
Constantly evolving rules and anomalies over tax treatment have constrained corporate programmes in the first year that the government's CSR mandate has been in force.
The Central Economic Intelligence Bureau, lead agency under Finance Ministry to gather and disseminate intelligence related to financial crimes, has traced illegal flow of money through Private Placement Programme, which involves offering of securities to select individuals or groups, upto 50 in numbers, official sources said.
The ED probe into alleged money laundering by crypto exchange WazirX and the subsequent squabbling among its promoters has revealed the 'darker side' of cryptocurrencies, a top government source said on Thursday. The source added that people should exercise caution in absence of a regulation to govern cryptocurrencies and so-called exchanges trading in them. "Caution is the word that should be in the minds of the people dealing with crypto. "In the episode of WazirX, people got to know many darker sides, caution is necessary in crypto transaction," the source said.
The Indian Staffing Federation says their demand assumes significance as the formal sector will grow after demonetisation and the segment will play a crucial role in that.
Analysts, however, suggest investors remain selective on realty stocks and buy only where there is revenue visibility and a credible promoter backing.
The ED is investigating Lodha after it booked him on criminal charges for his alleged involvement in two high-profile black money cases of illegal conversion of old notes post demonetisation.
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