The CBDT asks ministry of corporate affairs not to oppose its application to restore the companies struck off by the Registrar of Companies, as it would prevent the board from launching tax recovery proceedings against them.
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.
'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.'
The agency on Friday also carried out searches on the premises of the Gitanjali Group at 20 places in Mumbai, Pune, Surat, Jaipur, Hyderabad and Coimbatore.
"You cannot play hide and seek with the court," Justice Suresh Kait said.
Plug-in hybrids have two engines and the electric part has a much larger battery than in the regular hybrids. Car companies, led by the Japanese, are pushing the Indian government to look at hybrids in the interim if it wants to reduce carbon emission.
The I-T department expects that some more revenue would be garnered.
The self-employed should invest in the National Pension System, a government-backed, low-cost retirement avenue where they can choose the mix of debt and equity that is right for them.
Don't create an "atmosphere of fear", the Supreme Court Tuesday told the Enforcement Directorate (ED) after the Chhattisgarh government alleged the probe agency is "running amok" and is trying to implicate Chief Minister Bhupesh Baghel in a money laundering case linked to the alleged Rs 2,000 crore liquor scam in the state.
Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
Exporters can make payment of fees through debit/credit cards.
Banks asked to maintain record of cash being ferried in these vehicles all the time
Facing flak over its decision to impose tax at the time of withdrawal on 60 per cent of the contributions to Employees' Provident Fund, the government on Tuesday clarified that only interest accrued on 60 per cent contribution to EPF after April 1, 2016 will be taxed.
'Rather than taking a very short-term view on the markets, equity investing should be premised on longer term growth opportunities.'
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.
Define ownership proportionately at the time of registration to ensure that you don't face problems on taxation front.
The trick is to know how long you are supposed to hold which document, observes Bindisha Sarang.
Barely days after imposing a 40 per cent export tax on onions to cool down soaring prices, which, in turn, triggered widespread protests across the main growing belts, the Centre on Tuesday sought to mitigate both political and economic tensions gripping parts of Maharashtra. It decided to procure an additional 200,000 tonnes of onions at Rs 2,410 per quintal for its buffer stock from farmers, a rate that is strikingly close to the price at which they were being exported before the 40 per cent duty was levied on August 19. The export price before the imposition of the duty stood at around $320 per tonne free on board (approximately Rs 2,650 per quintal).
Sitharaman also directed public sector bank heads to clear long pending vigilance cases against their officials for alleged malpractices.
The Directorate of Revenue Intelligence (DRI) has slapped a Rs 5,500-crore show-cause notice on Adani group for alleged over-valuation of capital equipment imports.
Roopam Asthana, CEO and the whole-time director, Liberty General Insurance Ltd, will answer your queries on HEALTH and AUTO insurance.
Boost to dairy sector will generate jobs
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
Investors not comfortable investing directly may take the mutual fund route, where they get exposure to a diversified portfolio of bonds.
More than Rs 8 crore unaccounted cash has been seized in subsequent raids at various locations by Lokayukta. The arrested officer's father is Madal Virupakshappa, the MLA representing Channagiri constituency in Davangere district of the state.
'Not even a single rupee from the electoral bonds should be allowed to be used in the election.' 'If it is used in the election, it will taint India's electoral process itself.'
Yadav said all parties have joined hands against the BJP in the Bihar assembly, and added "now this is going to be replicated across the whole country".
Encouraging domestic financial savings through focused measures would help mobilise long term resources for funding infrastructure and economic development.
The J-K top cops also said less than 200 militants are currently active in Jammu and Kashmir.
'Are we so ready to believe that in this country whose virtues we constantly shout from the rooftops, there is no single person -- other than Modi -- in a minimum of 272 elected MPs with the talent and ability to lead this country?' asks Prem Panicker.
Dealers with turnover of Rs 2 crore and above covered; industry says threshold too low
The life insurance industry reported a 25.28 per cent decline in new business premium income in November 2023 to Rs 26,494.83 crore from Rs 34,588.8 crore recorded a year ago. The fall in group premium and change in taxation norms for policies with a higher ticket size dragged the premiums of the state-run Life Insurance Corporation of India (LIC) and private insurers, respectively. According to the data released by the Life Insurance Council, the premium of private insurers slipped 9.33 per cent Y-o-Y to Rs 10,360.29 crore from Rs 11,426.73 crore as a result of a change in product mix due to the measures taken to counter the impact of tax imposed on the premiums of Rs 5 lakh.
Tamil Nadu Chief Minister M K Stalin on Thursday warned the Bharatiya Janata Party not to 'provoke' the Dravida Munnetra Kazhagam, saying it will not be able to 'bear the consequences' and that his party also knows 'all types of politics', escalating his attack on the saffron party after the arrest of his cabinet colleague V Senthil Balaji.
BlackRock has again reduced the valuation of its share in edtech firm Byju's - this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022. The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.
BJP spokesperson G V L Narasimhra Rao noted that Priyanka's husband Robert Vadra is accused of using "shady methods to make windfall profits from dubious real estate transactions" and said the report of her receiving Rs 2 crore from Kapoor for a painting which was not her own shows that the powerful couple have leveraged their political power to make "private gains".
Congress leaders have hit out at the BJP governments at the Centre and in Karnataka, questioning its timing.
Once again, tax demands on foreign investors cause worry.
Speaking to reporters in Thane, Pawar accused the Narendra Modi government of failing to fulfil any of the promises made by it since 2014 including bringing 'acche din, connecting villages through the internet, and providing toilets, water, and power to every household'.
The order follows a complaint filed by Delhi Vyapar Mahasangh which accused the e-commerce firms of anti-competitive practices like preferential listing, exclusive tie-ups and private labels.
Purushottam Sharma, a 1986 batch IPS officer, was transferred following a viral video which showed him thrashing his wife, soon after she confronted him at the anchor's flat.
