Finance Minister Arun Jaitley, in his Budget speech on Monday, announced a new dispute resolution mechanism for such companies who are in confrontation with the taxman's action.
MCA portal clocks 5 mn views in 8 months; ministry to integrate company records portal with DGFT, I-T dept this year
The 58-year-old businessman, who is also the son-in-law of former Karnataka Chief Minister SM Krishna, has been missing since Monday evening from Mangaluru.
Close to 9 lakh registered companies are not filing annual returns with the ministry of corporate affairs and are a potential source of money laundering, Revenue Secretary Hasmukh Adhia said on Saturday.
PwC wants to know what will happen when a company with substantial reserves is merged into a new concern and the resultant entity is converted into a limited liability partnership.
Chief Minister Nitish Kumar's Janata Dal-United said it was the right time to withdraw the general consent to the CBI.
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.
Details of identity and residence will not be required for exchange of notes between April 1 and June 30.
Prime Minister Narendra Modi on Thursday accused the Congress leadership of "desperation" in the face of his "tough" demonetisation decision and said it was the first time that a concerted effort was made by the Opposition to "openly" protect the dishonest through disruptions in Parliament.
There is no official confirmation to reports that the IPS officer was caught red-handed by his wife of 32 years at a woman's house, after which he assaulted her.
Finance Minister Nirmala Sitharaman will set a record by presenting the sixth Budget in a row -- 5 annual Budgets and one interim -- a feat achieved so far only by former Prime Minister Morarji Desai. With the presentation of interim Budget on February 1, Sitharaman will surpass the records of her predecessors like Manmohan Singh, Arun Jaitley, P Chidambaram, and Yashwant Sinha, who had presented five budgets in a row. Desai, as Finance Minister, had presented five annual Budgets and one interim Budget between 1959-1964. The interim Budget 2024-25 to be presented by Sitharaman on February 1, will be a vote-on-account that will give the government authority to spend certain sums of money till a new government comes to office after the April-May general elections.
The order, which came on Monday, stated that revenue authorities cannot split the agreement when the parties to the agreement considered the royalty and technical knowhow as a single package.
The minister said any declaration made under the law will be protected
Tax department feels that the second quarter would be much better than the first quarter of the year as the economy has started improving.
The Board of Control for Cricket in India, is locked in a legal battle with the Service Tax (ST) department, which has demanded an amount of Rs 536 crore (approx) as taxes on cricket board's earnings from royalty and media rights in the last one decade.
The Enforcement Directorate, which continued its searches against Modi, Choksi and their companies for the fourth day on Sunday , is also moving to attach at least two dozen immovable properties under the Prevention of Money Laundering Act.
The government has asked jewellers to provide information on purchases of gold bars or jewellery worth more than Rs 500,000 by the end of this month, a move seen keeping a check on big transactions amid rising smuggling.
After initiating stern action against 331 companies, the market regulator seems willing to revoke its stringent restrictions for some entities.
'We are allowing FDI on the terms of the investors, multinationals.' 'We bow down to whatever they say.' 'When they say you open this sector, we open that sector.'
Company says faults, which were noticed soon after system upgrade on March 27, have been rectified
The Central Bureau of Investigation has arrested an Reserve Bank of India official and a JDS leader K C Veerendra, who is also a casino owner, in connection with separate cases relating to alleged illegal conversion of currency post-demonetisation.
Vodafone is facing tax liability over its $11 billion acquisition of a 67 per cent stake in the mobile-phone business owned by Hutchison Whampoa in 2007.
This is the first time that this important nodal national agency for economic intelligence has obtained data on suspected offshore stash of Indians as, till now, such information was only received by the exclusive wing of the Central Board of Direct Taxes.
Right steps you can considerably reduce the tax outgo.
When the landslide hit, Sruthi's house was washed away, along with its inhabitants. She lost her entire family and some relatives. All she had left for a close confidante was her fiance Jenson. Days after the landslide and the loss of her family, Jenson died in a road accident that also left Sruthi with serious injuries. News of the accident and Sruthi's backdrop as the lone surviving member of a family wiped out in the July landslide, was picked up by the media, and people rushed to help.
The finance ministry on Friday informed a parliamentary committee that smuggling of fake currency has totally stopped post demonetisation and the tax department has seized Rs 515 crore in cash, including Rs 114 crore of new currency notes, up to January 10.
The Enforcement Directorate on Monday detected cash deposits totalling over Rs.104 crore in an account belonging to the Bahujan Samaj Party and Rs 1.43 crore in an account belonging to party Supremo Mayawati's brother Anand in a branch of United Bank of India in New Delhi, sources in the Enforcement Directorate said.
In 5 years, the average demand for gold has been 895 tonnes annually.
Industrialist Yash Birla, as also two Mumbai-based individuals behind City Limousines scam, are among five Indian nationals with Swiss bank accounts.
Avoid getting into a debt trap by using your credit judiciously. Anil Rego explains how
There are four simple ways to link PAN to Aadhaar; make the most of the deadline to avoid hassles later, explains Bindisha Sarang.
'I am indirectly related to VG Siddhartha. Excellent human and brilliant entrepreneur. I am devastated with the contents of his letter,' Mallya said on Twitter.
Incomes such as dividend, interest on tax-free bonds, eligible gifts, etc should also be reported even though they are tax exempt, suggests Sanjay Kumar Singh.
A land-owning class, the Jats are a powerful community and account for 28 per cent of Haryana's population. The time, they believe, has now come for them to take revenge.
According to sources familiar with the development, Sebi has decided to make references to the Ministry of Corporate Affairs and the Department of Revenue, citing violations of the Acts these bodies govern.
Short-term capital gains tax of 30% is likely to be levied if bitcoin is held for less than three years and 20% if held for longer than 36 months.
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Employees at Nokia's Chennai plant are not so keen to shift their base.
Ranjan was nominated to the board of ICICI Bank on April 7
In February 2013, the airline under the then chairman Rohit Nandan decided to shift its base to New Delhi.
Finnish phone maker Nokia may have to exclude its Chennai plant from the $7.2 billion deal with Microsoft if tax issues facing the India unit are not resolved by next week.
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