It is the duty of a tax payer to record all his/her transactions, to explain sources of payments made by him/her and to declare the true income in the returns of income filed every year.
"India has become the fastest growing major economy in the world. Despite the global slowdown, we have registered excellent growth. Today, India is a bright spot in the global economy. We are seen as the engine of global growth," he said.
Spending at restaurants and bars grew more than 8 per cent compared to the year before.
Market breadth ended weak on the BSE with 1,838 declines against 1,218 advances.
Meet Anand Kumar, a government clerk who transformed into a real estate and hospitality baron.
India Inc has few leaders who are likely to grab headlines in 2015.
Investors sought to book profits at attractive valuations after recent run up in last few trading sessions.
Sanjeev Nayar offers some ideas on how Indians can help in improving the lives of those living in border areas and in the process help the Indian Army.
Oil Minister M Veerappa Moily has suggested pricking the ballooning oil bill with everything from a street theatre campaign encouraging lower fuel use, to shutting fuel stations, to increasing imports from Iran.
In the last financial year, GDP growth was 7.3 per cent.
'Little about this regime, given its vindictive credo, is a complete surprise. But we were still taken aback by the CBI raid as it was a complete abuse of due process.' 'These are not legal inquiries, but abusive use of State power. They are not legitimate investigations, but a witch-hunt.' 'Ours is a typical, classic case of the State and its organs being used as an outlet for motivated vendetta of the vilest kind.'
A digital economy can only work with uninterrupted electricity supply. So, states now face the unpleasant task of telling their citizens that electricity rates need to be hiked. Subhomoy Bhattacharjee reports.
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The 30-share Sensex lost 22 points to close at 27,090 and the 50-share Nifty gained 7 points to end at 8,121.
Enhanced revenue generation is a priority for the government.
Who will make the most of the disruptions of 2016 this year? Mihir Sharma's list of probables.
Indian economy about to take-off
Bibek Debroy highlights the importance of the Assam Rail Link Project.
The second part of BJP president Amit Shah's interview to Sheela Bhatt/Rediff.com, to mark the completion of one year of the Narendra Modi government.
'It is in electronics that the gap between where we are and where we need to be is most obvious and most persistent.' 'It is not only a national security issue, but also a commercial issue,' argues Rajeev Srinivasan.
During a crisis situation, effective communication both internally and externally is one of the most important measures.
Experts say investors should be careful, as even a 50-100 bps cut in rates will not help such companies if their business is not doing well. Check what is the problem and consider
That resulted in a 50-basis point improvement in operating profit margins on a sequential basis.
South and South-West Asia could witness an economic growth of 5.3 per cent in 2015, which will be a four-year high.
'This has to be seen in the context not only of the legacy we inherited, but also of global economic weakness.'
'If after inheriting the very bad situation we have reached this level despite consecutive years of drought and no growth in the world economy, it is no accident.' 'It is a result of the sound macro economic policies followed by this government.' 'We have eschewed populism and stuck to a path of fiscal prudence.'
The uproar over 'dams' following the Uttarakhand disaster is ill-informed & potentially counter-productive, says Anand Sankar
A majority of India's billionaires gained wealth in the last one year in spite of the stock market decline.
A left-leaning centralised socialist model has created a shortage/entitlement economy. In fact one of the reasons for India's limited progress is that post-independent India is at odds with its true nature. It is something that educated right of centre Hindus are trying to correct, says Sanjeev Nayyar.
Contrary to the bragging that marked its two-year anniversary, the government's timidity on reform is simply astounding.
The elements are all aligned to make India a global powerhouse, says IMF Managing Director Christine Lagarde.
Economist S Janakarajan, in an interview to Shobha Warrier/Rediff.com warns that without proper infrastructure, India will never be able to build a market economy.
China has relaxed its one-child policy and further freed up markets in order to put the world's second-largest economy on a more stable footing.
PSUs will get direct allotment.
Rahul Gandhi has the potential to grow into a good, effective, leader of the Opposition provided he puts his heart and soul into it, with a willingness to learn, says B S Raghavan, the distinguished civil servant who worked closely with India's first three prime ministers.
The storage of water in the six major reservoirs in the state was just 6.2 per cent of capacity as of April 27, 2017, reports T E Narasimhan and Gireesh Babu.
'The past year has yielded extraordinary results in the strategic, commercial, and people-to-people components of the India-United States partnership, US Ambassador to India Richard Rahul Verma tells Aziz Haniffa/Rediff.com in an exclusive interview.
'We need to put aside our anxieties about the Budget for now and possibly for long, and carry on as best as we can,' advises Shreekant Sambrani.
'The BJP should know that simple caste arithmetic may have ceased to follow the basic law of addition.' 'Adding up seemingly distinct vote banks can even cause overall reduction in numbers,' says Sudhir Bisht.
IT majr Wipro needs stability at the top deck, say industry watchers.
Nobutaka Kitajima, chief investment officer -- equity, LIC Nomura Mutual Fund, tells Business Standard the reaction to the Fed's statements has been overdone and the current downturn has punished certain stocks much more than their inherent economic worth and business potential.
Volkswagen is under huge pressure to act, with its shares down more than a third in value since the crisis broke, and the bad news still coming.
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