Billionaire Anil Agarwal's mining group Vedanta on Monday said it has withdrawn cases in the Delhi high court as well as before an international arbitration tribunal to settle a Rs 20,495 crore retrospective tax dispute with the government. Post slapping of a Rs 10,247 crore tax demand on UK's Cairn Energy Plc for alleged capital gains made on a 2016 internal reorganisation prior to the listing of its India business, the Income Tax Department had sought Rs 20,495 crore in taxes (including penalty) from Cairn India for failing to deduct tax on capital gains made by its British parent. Cairn India was in 2011 bought by Agarwal's group and subsequently, the firm was merged with Vedanta Ltd.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Modi will participate in the first-ever trilateral meeting between Japan, America and India and the 2nd Russia, India China trilateral, which is taking place after an interval of 12 years, on Friday.
'If we go in the same direction as them, we cannot expect a different result from them.' 'Our fall is going to be very swift.' 'Within a decade, we can expect the situation to change for the worse.'
10 stocks which are most popular with brokerages right now and are expected to deliver maximum upside over the next 12 months.
'Banking is a business of trust.'
The Men in Blue are on a 12-match winning streak and come Thursday, they can create an all-time record of winning 13 T20I games in a row.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The government should consider the farmers' demands sympathetically, Raut told reporters in Mumbai.
Modi also said the people of India felt proud that President Xi has twice received him out of the capital.
The Supreme Court on Wednesday ordered the release of A G Perarivalan, who has served over 30 years of life term in the Rajiv Gandhi assassination case.
China on Monday continued its unprecedented military drills around Taiwan, extending the schedule of war games launched in retaliation to the visit by US House Speaker Nancy Pelosi to the breakaway island which Beijing claims is part of its territory.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
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The Indian government has paid Cairn Energy Plc Rs 7,900 crore to refund taxes it had collected to enforce a retrospective tax demand, ending a seven-year-old dispute that had tarred the country's image as an investment destination. The company, which is now known as Capricorn Energy PLC, in a statement said it has received "net proceeds of $1.06 billion", of which nearly 70 per cent will be returned to the shareholders. The tax department had used a 2012 legislation, which gave it powers to go back 50 years and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India, to seek Rs 10,247 crore in taxes from Cairn.
Delhi's air quality was again in the severe category with the 24-hour average AQI recorded at 403 after remaining in the 'very poor' category till Tuesday morning, when the AQI was recorded at 396.
What these elections prove beyond any doubt (if ever there was one) that Modi's hold over public mind and Shah's mastery of election management are unparalleled. It doesn't seem likely that they will be matched any time soon in the Indian political scene, reaffirms Shreekant Sambrani.
The Union finance ministry has called for applications to the coveted post of chairman of the Securities and Exchange Board of India (Sebi).
'The company's transition from an individuals-driven private firm to a board-driven listed public one will be carried out in a well-thought-through and well-executed manner.'
Corporate India's earnings in the past two quarters were largely driven by the rupee's sharp fall versus the dollar in the second quarter of this financial year.
Despite the current bout of volatility, debt-oriented hybrid funds remain well suited for risk-averse investors.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Taking a cue from Zomato's stellar initial public offering (IPO), through which it garnered a valuation of Rs 1 trillion, the government has asked its advisors and valuers to ascertain if the Life Insurance Corporation of India (LIC) should be valued at Rs 10 trillion or more. The government is looking to offload about 10 per cent stake in LIC through the IPO. At that valuation, the government stands to net at least Rs 1 trillion from LIC's proposed IPO, which will boost the Centre's efforts to meet its disinvestment target of Rs 1.75 trillion for the current financial year.
Mother and son refuse to go away despite indications blowing in the wind that their leadership is ringing the death knell of the party, observes Ramesh Menon.
Top gainers in the Sensex pack included Kotak Bank, HCL Tech, HUL, TCS, Bharti Airtel, Asian Paints, Bajaj Finance and SBI, while Reliance Industries, Tech Mahindra, ICICI Bank and Infosys ended with losses.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The new bill will now be introduced in the Lok Sabha for passage in the upcoming Winter session of Parliament beginning November 29.
'Since the government will not hold any significant stake in the airline this time, such restrictions are not required anymore.'
Investors who issued units in liquid and overnight funds, as well as those with a short-term holding of less than 30 days, are likely to be impacted the most, say experts.
Unusual means of connecting with the electorate are also being adopted by ministers in the Yogi Adityanath government, who are doing their bit to reach out to the voters.
Three major central banks have hit the zero limit, the Fed, the European Central Bank and the Bank of Japan.
'India enjoys the maneuverability of a coming big power.' 'It is this possibility that has persuaded Moscow to humour India and stayed Washington from getting punitive about India's neutrality on the Ukraine issue.'
That AAP managed a sizeable vote share in Gujarat is creditable. The BJP can no longer ignore AAP's growing presence in its strongest bastion, explains Ramesh Menon, long-time observer of Gujarat politics.
'India has many attractive features for the long-term investor; it combines: A low per capita income, a young population, and a heavier presence of high margin, asset-light firms in the technology sector.'
Critics who cannot stop gloating, pronouncing Modi to be a lame-duck prime minister, may be making a huge mistake, predicts Virendra Kapoor.
Prime Minister Modi, who is in Japan on a two-day visit to attend a summit of the Quad leaders at the invitation of his Japanese counterpart Fumio Kishida, penned an op-ed on the vibrant relations between India and Japan in the Yomiuri Shimbun.
Punjab faces many mortal threats. For most of these the people of Punjab are themselves responsible. And unless they take a brutal hard look within, their future generations have to be resigned to continue living with this constant slide, warns Shekhar Gupta.
PNB has rich experience in the integration of commercial banks.
'At this moment, investors should look for relative value within sectors and clear visibility (third-wave-or-not) on earnings delivery.'
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