Air India had stopped the practice of issuing tickets on credit to government agencies for the travel of their officials in December last year because of accruing pending bills.
If the finance minister's tax proposals have stimulated demand at all, it's for CAs, notes Kanika Datta.
'These statements which you are telling me were never uttered from mosques on that day.' 'And if this had happened, I would have got the report as the chief secretary of J&K.'
Information gathered from a person's social media account will be matched with his or her declared income.
The crucial hearing on the PILs by a bench headed by Chief Justice D Y Chandrachud assumes significance in the wake of recent developments in which the Centre agreed to the apex court's proposal to set up a committee, likely to be headed by a former Supreme Court judge, to look into the regulatory regimes.
A fresh PIL was filed on Thursday in the Supreme Court seeking a probe by multiple central government agencies under the supervision of a panel or a former apex court judge against the Adani Group of companies following allegations of fraud and share price manipulation made by the US-based Hindenburg Research.
While the two-phased assembly polls voting has concluded in Assam, in West Bengal two phases have completed while four more remain.
The eight-member team will also put Chhota Rajan, Chhota Shakeel, Abu Salem and other underworld dons under the scanner.
Banks asked to maintain record of cash being ferried in these vehicles all the time
T N C Rajagopalan on the new year and new worries.
Tax benefit on WFH expenses, regulatory clarity on cryptos figure high on their wish list.
The government has created a comprehensive budget with sharp focus on sustaining economic activity and investment but more clarity is needed on areas like taxation framework for adopting remote working on a long-term basis, IT body Nasscom said on Monday. The industry association noted that the IT/ITeS (Information Technology-enabled Services) industry has been a key driver of growth and jobs in 2020 and there is an opportunity to significantly accelerate it further. "For the IT sector, one of the biggest needs ahead of us is the development of future business models, with hybrid working becoming a reality. "We look forward for the government to provide clarity on providing a framework in direct taxes and indirect taxes for the industry to adopt WFH/remote working on a long-term basis," Nasscom said in a statement.
The Income Tax department are conducting raids at the Chinnakurli residence of Janata Dal-Secular leader and Karnataka Minor Irrigation Minister CS Puttaraju in Mandya
The government has imposed anti-money laundering provisions on cryptocurrencies or virtual assets as it looks to tighten oversight of digital assets. In a gazette notification, the Finance Ministry said the anti-money laundering legislation has been applied to crypto trading, safekeeping and related financial services. After this, Indian crypto exchanges will have to report suspicious activity to the Financial Intelligence Unit India (FIU-IND).
Dealers with turnover of Rs 2 crore and above covered; industry says threshold too low
These entities have facilitated illicit transactions worth thousands of crores of rupees over the past 2-3 years
"The emphasis is on making every rule, law, policy people-centric, and public-friendly. This is the use of the new governance model and the country is getting its results," Prime Minister Modi said while speaking at the launch of a platform for 'Transparent Taxation -- Honoring the Honest'.
Though startups find 17 mentions in the Budget speech of the finance minister, and have been promised tax exemptions, the reality is that only 2 per cent of the 4,648 applications received from startups for income tax exemption had been approved as of February 2019, according to an answer to a Parliament question. As India's startup space bubbles with activity - new, young players are tapping into opportunities opening up - there are local anti-portfolio stories circulating about investors missing opportunities in 'unicorns', or companies that have reached valuation of $ 1 billion, says Vandana Gombar.
Pro-Pakistan leader Syed Ali Shah Geelani's death has brought to an end a chapter of anti-India and separatist politics in Kashmir.
Authorities on Saturday continued to dig up currency to the tune of lakhs of rupees, including in new notes, across the country.
The sources said the taxman has initiated a country-wide operation to identify suspect bank accounts where huge cash deposits have been made post November 8.
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.
These are obviously not 'organic' desertions but brought about under intense military pressure, post the 9/5 arrests. It seemed as if the party was being dismantled the same way it was brought into power!, notes Rana Banerji, who headed the Pakistan desk at RA&W, India's external intelligence agency.
A K Bhattacharya digs into the yet-to-be-public report on ways to curb black money and finds out that Modi's next moves could include action on dabba trading, hawala, and education.
Database to contain taxable financial transactions and history of any tax-paying individual.
Government on Monday formed a multi-agency group to monitor exposes in this regard and vowed to take action against all "unlawful" accounts held abroad.
I-T officials are also looking into the finances of candidates who contested state elections in Uttar Pradesh, Punjab, Gujarat, and Karnataka, reports Shrimi Choudhary.
Tightening its noose on those who do not pay taxes, the Income Tax Department has started sending letters to around 12 lakh assessees who are high spenders but do not file returns, a top finance ministry official said.
After sending notices to 1.21 million Permanent Account Number (PAN) cardholders who had not filed their income tax (I-T) returns, the I-T department has now identified another 2.17 million potential non-filers. It had already sent letters to 50,000 potential non-filers in the first batch.
Tax exemption for donations to Greenpeace may be withdrawn.
The seizure occurred during raids at eight premises of a group engaged in sand mining in Tamil Nadu.
'Modi is imposing himself as the face of Gujarat to send a message that people should not forget that a Gujarati is prime minister.'
Peeved over the silence of leaders of separatist groups, their factions in Pakistan and in occupied-Kashmir are making desperate attempts to foment trouble in Jammu and Kashmir by giving calls from across the border for 'bandhs' and strikes to mark the death anniversary of Mirwaiz Farooq and Abdul Gani Lone, officials said.
FinMin's project will enable tax man to track electronic transactions like RTGS or NEFT.
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
Telecom operator Bharti Airtel's CEO has warned customers about rising cases of cyber-frauds, citing a recent instance of a fraudster who posed as company executive and under the guise of updating KYC form, tricked a user into revealing bank details to transfer large amount from the bank account. In an email outreach to subscribers, Gopal Vittal, CEO of Airtel urged users to be vigilant against such cases of cyber fraud that are becoming "alarmingly frequent". Vittal spoke of a recent case where a cyber-fraudster posing as company executive called up an Airtel customer on the pretext of updating his Know Your Customer (KYC) form, tricked him into revealing his bank details and transferred a large sum of money from his bank account.
The Supreme Court said on Thursday that it will hear "as and when required" a public interest litigation challenging the government's notification authorising 10 central agencies to intercept, monitor and decrypt any computer system.
The aim of the department is to check suspected tax evasion by the banking institutions and possible loss of revenue by illegal acts done by authorised individuals.
'Harassment' is the objective, not detention.
