Rajasthan Chief Minister Ashok Gehlot on Wednesday said the accused in the Kanhaiya Lal killing case in Udaipur were 'linked' to the Bharatiya Janata Party and should have been 'hanged by now' but the investigation by the National Investigation Agency was not progressing as it should.
The best investment schemes fail if they don't offer incentives to intermediaries to push investors.
Penalties for non-disclosure or inaccurate disclosure of these details can be severe.
The government will assess how cash deposits after the demonetisation could be brought under the tax net, says Revenue Secretary Hasmukh Adhia.
Not declaring the black money under the scheme now, but showing it as income in the tax return form would lead to a total levy of 77.25 per cent in taxes and penalty. In case the disclosure is not made either using the scheme or in return, a further 10 per cent penalty on tax will be levied followed by prosecution.
Modi said that for nearly one and a half years he has been putting in place details of new schemes to give new pace to the country's development and curb poverty.
Against estimates of black wealth of Rs 300 lakh crore and black money in cash of Rs 3 lakh crore by economist Arun Kumar, the PMGKY numbers fall short by a huge margin.
I-T heat on thousands of firms for unusual cash deposits.
'Those who should have been affected benefitted from demonetisation.' 'And the vast majority who should not have been affected lost out.' 'That is the ultimate result of demonetisation.'
Debroy, in an interview with India TV news anchor Karan Thapar, said there would be no shortage of currency notes and the demonetisation exercise was justified -- it would be a deterrent for future generations.
High dividend yield stocks usually perform well in a rising interest rate environment when investors value cash flows more.
Senior Aam Aadmi Party leader and Gurgaon candidate Yogendra Yadav on Thursday declared his assets to the tune of about Rs 3 crore, which includes farm land, commercial booth and sizable amount of bank deposits and Provident Funds.
'These three commodities have been chosen very well.' 'It is up to the state governments and central government to see how it is implemented.' 'The government has to do some hand-holding.'
In 2018, Mr Chouhan became chief minister for the fourth time with some support from Mr Scindia. This time, nothing can be said with any certainty.
Amit Gupta, MD, Sag Infotech, answers your personal income tax queries.
he government will allow holders of black money abroad to declare their wealth.
September 15 is the deadline for paying the second instalment of advance tax. This is income-tax (I-T) taxpayers need to pay every quarter, instead of a lump sum at the end of the year. Ashutosh K Srivastava, senior associate, SKV Law Offices, says, "The tax has to be usually paid when income is earned. "Nonetheless, according to the I-T Act, the taxpayer has to estimate his income for the entire financial year. Based on that, he/she pays tax at specific intervals."
Hasmukh Adhia to present revenue dept's performance over past year & plan for current financial year
Bandhan Bank has declared disappointing results for the first quarter of the 2023-24 financial year (Q1FY24). While the market has been braced for known issues around microfinance exposures in West Bengal and Assam, there is higher stress in the portfolio. This means higher credit costs and poorer asset quality, leading to target downgrades by analysts.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
She said poor people and farmers have been badly hit by high denomination rupee ban decision.
At a time when the BJP's stars are at the top on the eve of the Lok Sabha polls, the Puri-Joshimath Sankaracharyas may have kick-started a row whose efforts might be to divide Hindus, not in the name of castes, but on what passes for greater belief, observes N Sathiya Moorthy.
The new 10 per cent dividend tax will be payable only on dividend income over and above Rs 10 lakh threshold in a year, according to an amendment to the Finance Bill 2016 approved by Lok Sabha.
The accumulated interest will increase the principal and you will have to pay a higher rate. Borrowers should take the restructuring plan only after they are convinced they have exhausted all other options.
While RBI may cut rates by 25 basis points in the February policy review, global monetary policies hold the key to much of the financial assets flow in 2017
The department gets data of high-value transactions under the Annual Information Return.
There may be those who could want to go slow, citing the large pendency of follow-up action and court cases that they would have to process and/or proceed with, before raiding more politicians, observes N Sathiya Moorthy.
The Association for Democratic Reforms slams the Budget proposals on political funding, says they lack teeth and show the "lack of political will" in proposing real reforms.
Income tax department sends out notices to cryptocurrency investors on suspicion of tax evasion.
The income-tax department on Thursday nudged black money holders to make "honest" disclosures under the tax amnesty scheme -- Pradhan Mantri Garib Kalyan Yojana -- warning that non-declaration could attract 77.25 per cent tax and penalty along with prosecution.
The Budget has unveiled measures that should now pave the way for India to progress from Make in India to 'Innovate in India'.
Extending the deadline for the third time, the government on Wednesday allowed individuals to file income tax returns for 2019-20 fiscal till January 10. The deadline for companies and individuals who need to get their accounts audited too have been extended by 15 days till February 15, the finance ministry said in a statement. The due date for filing income tax return (ITR) by individuals and companies was December 31, 2020, and January 31, 2021, respectively.
'If you want it to grow well and serve the true needs of the economy, it needs a lot of freedom and flexibility, which comes in terms of the reform objective set by the regulator.'
Tax wing scanning cash deposits between Rs 5-10 lakh
Reliance Capital Mutual Fund has announced a dividend at the rate of 0.100% (Rs 0.010 per unit) in the weekly dividend option.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Finance Minister Nirmala Sitharaman will present the Union Budget for 2023-24 in Parliament on February 1. The Budget is a statement of the government's estimated receipts and expenditures for a fiscal year (April 1 to March 31). It's divided into Revenue and Capital Budget. The Revenue Budget includes the government's revenue receipts and expenditures while the Capital Budget includes its capital receipts and payments.
Cash deposits of up to Rs 2.5 lakh by housewives post demonetisation will not come under I-T scrutiny as the Income Tax Appellate Tribunal (ITAT) has held that such deposits cannot be treated as income of the assessee. Ruling on an appeal filed by an individual, the Agra bench of ITAT said the order would act as a precedent for all similar cases. The appellant, a housewife Uma Agrawal of Gwalior, had declared total income of Rs 1,30,810 in her income tax return filed for fiscal 2016-17.
The department said that total confidentiality is ensured to those who declare their black assets and funds
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
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