Section 276CC provides for prosecution and makes tax evasion punishable with rigorous imprisonment of three months to seven years along with a monetary penalty depending on the amount dodged.
In photos: Priyanka Chopra as Assam Tourism's new ambassador.
Miss the March 31, 2018 deadline to file belated tax return for FY16, and risk an I-T notice and a hefty fine.
During the current financial year, 25 companies have raised Rs 28,220 crore through IPOs
Take out Maruti Suzuki and Honda, and the auto sector's prospects suddenly don't look all that rosy.
Bulk of these customers use 2G phones and are still focused on voice services and might prove useful for both Bharti Airtel and the Idea-Vodafone combine.
Demonetisation is the biggest reason for the rise in preference for small savings.
Infrastructure, stricter implementation boost commercial vehicle sales
Increased truck sales, new models push Leyland's share to 34%, from 30.2% in the same quarter a year before.
The GST Council last year imposed a cess of 15 per cent on hybrid vehicles, in addition to the 28 per cent GST, leading to a total tax burden of 43 per cent against a previous tax rate of 28 per cent.
Senior bankers are trying to impress upon the central bank that the shift to external benchmark-linked lending be postponed to April 1, 2020.
While the Bongaon municipality accommodates 1,200 trucks, the rest are at the mercy of private parking lots, where contractors charge an upfront fee of about Rs 4,000 per day.
Worth Rs 210,024 cr, it is Rs 1,100 cr shy of combined Rs 211,186 cr value of Tata Motors and M&M
There were concerns that simply opening a bank account wouldn't constitute meaningful financial inclusion, as the poor would rarely use these accounts. However, recent data submitted to Parliament attests to increased account usage, says Ishan Bakshi.
The Sensex closed the day at 28,141, up 486 points, while Nifty50 settled at 8,716, up 155 points.
B Sriram, the senior-most managing director at SBI, along with fellow MDs Rajnish Kumar, P K Gupta, and Dinesh Kumar Khara had been interviewed for the post
Lines up seven OFS issues along with half a dozen IPOs for the next few months
Overall, the populist/ electoral elements in the budget have remained measured with the finance minister being clearly aware of a higher-than-expected rise in oil prices, less-than-planned tax revenues and the wider deficit for FY 17/18, constraining his margin of maneuver, says Claude Claude Smadja.
Sixteen major contracts worth nearly $14 billion to be renewed by June 2018 but uncertainty looms large.
A well-established tax system would have a predictable buoyancy - how fast the collections grow as a proportion to the growth of the economy. But that is not the case with GST. It is still undergoing substantial changes as the government responds to structural as well as administrative glitches.
'If you consider only demonetisation and GST as my government's work, it will be a big injustice to me.'
Naresh Goyal, after being ousted with his wife from the board last week, and with his shareholding halved to 25 per cent, can still make a comeback by partnering a new investor and win back majority control.
Agriculture implements that are currently taxed up to 18 per cent may come under the 12 per cent or the 5 per cent bracket.
'The attempt to build a negative narrative about India's economic performance is disingenuous.' 'For the investors as well as the targeted beneficiaries of welfare schemes, the ground reality is very different,' argues Rajiv Kumar, vice-chairman, NITI Aayog.
Indradhanush-II is likely to chart out the process for resolution of non-performing assets.
Stock crashes 6.5%; top 5 firms lose Rs 33,883 crore in market cap
The company will now focus on value creation for shareholders in the defence and construction businesses.
The company has charted out a three step process in achieving the target
Higher rural incomes, pay commission benefits, and lower interest rates are key positives: Analysts
The government had projected the GDP growth to be at 8.5%.
The problem is actually acute in the diamond jewellery industry where there is no uniform criteria of inventory valuation unlike gold, whose prices are uniform and widely quoted.
Most of the engines used by Suzuki's two-wheelers in India are manufactured by Maruti at its Manesar plant.
Fifty-six months on, the government's record in implementing these schemes and projects has been mixed, report Arup Roychoudhury and Indivjal Dhasmana.
Between now and the general elections (likely in May 2019) there are 12 assembly polls, which analysts say, in a way will also be interpreted as a referendum on the Modi-led government's key reforms
The loss of income has severely dented the loan repayment ability of small borrowers
Ravi Gopalakrishnan, head-equities, Canara Robeco Mutual Fund, tells Ashley Coutinho that earnings growth will pick up once the benefits of reform initiatives accrue.
Zydus Wellness looks for a wider berth in the country's burgeoning beauty market, redesigns and rebrands its flagship brand
Flipkart will need $2 bn annual profit to make Walmart investment viable, which will mean yearly revenue of $100 bn
The deficit for the first five months of the year stood at 96 per cent of the full-year target of Rs 5.46 lakh crore despite cut in capital expenditure in August.
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