rediffGURU Samkit Maniar answers readers' personal income tax queries.
In the months of May, June and July, state and district level conventions of the SKM shall be held in every state/UT to galvanise and organise farmers and farm workers, it said.
Mauritius-based IndusInd International Holdings and other Hinduja group entities are expected to make payments worth Rs 9,661 crore for the acquisition of bankrupt Reliance Capital (RCap) only after getting all the legal and regulatory clearances, including from the Supreme Court, thus delaying the closure of the transaction. A source close to the development said that according to the National Company Law Tribunal (NCLT) order dated February 27, the payment for the acquisition was to be made within 90 days from the NCLT's approval of the resolution plan and after receiving all legal and regulatory clearances.
Insurance sector regulator IRDAI has given conditional approval to Hinduja Group firm IndusInd International Holdings Ltd (IIHL) for the takeover of debt-ridden Reliance Capital. "We are happy to acknowledge the receipt of approval from IRDAI yesterday (May 10, 2024) on the auspicious occasion of Akshay Tritiya. "The approval is subject to certain 'regulatory, statutory, and judicial' clearances/compliances," an IIHL spokesperson said in a statement.
As we brace for unprecedented rates of urbanisation, it is crucial to ensure that illegal constructions and unauthorised land use are curbed, asserts Amit Kapoor.
While Air India Express is expected to get the full insured amount for the hull loss, it will have to pay compensation to the kin of the deceased and injured, according to applicable laws. The compensation will be paid from its liability cover.
The Union Cabinet on Wednesday approved amendment to the DICGC Act to provide account holders access to up to Rs 5 lakh funds within 90 days of a bank coming under moratorium to ensure timely support to depositors. Last year, the government raised insurance cover on deposit five-folds to Rs 5 lakh to provide support to depositors of ailing lenders like Punjab and Maharashtra Co-operative (PMC) Bank. Following the collapse of PMC Bank, Yes Bank and Lakshmi Vilas Bank too came under stress, leading to restructuring by the regulator and the government.
Confirming a meeting with the top management of the Adani Group, Life Insurance Corporation Chairman M R Kumar said on Sunday that the interaction had gone well. "There's nothing I can state as of now on the outcome of that meeting. "But yeah, we've had the meeting....we are quite happy about this meeting," Kumar said on the sidelines of the 22nd Global Conference of Actuaries in New Delhi.
An all-party meeting on Monday failed to hammer out a consensus over the controversial Insurance Bill, which was scheduled to be taken up in Rajya Sabha.
Inflow of more funds is likely to widen the reach of insurance and drive M&A activities in the sector where growth has stalled.
The proposal for listing public general insurers had come up in 2007.
Regularly monitor your account for any suspicious activity. Keep your devices updated with the latest security patches to prevent vulnerabilities. Ensure the physical wallet you use is stored securely to avoid loss or theft.
The insurance sector is seeking clarity on the 'Indian management control' clause.
The Rajya Sabha on Thursday approved a bill to raise the foreign investment limit in the insurance sector to 74 per cent, with Finance Minister Nirmala Sitharaman saying while control will go to foreign companies, the majority of directors and key management persons will be resident Indians who will be covered by law of the land.
Bharti will move FIPB soon for increasing Axa's stake to 49%
India's export of fuels like diesel to the European Union jumped 58 per cent in the first three quarters of 2024, with a bulk of them likely coming from refining discounted Russian oil, according to a monthly tracker report. The EU/G7 countries in December 2022 introduced a price cap and an embargo on the imports of Russian crude oil in a bid to cripple Kremlin's revenue and create a vacuum in its funding for the invasion of Ukraine.
If the court order is implemented, it will lead to an increase in the insurance outgo for car owners by a minimum Rs 50,000 for car and a minimum of Rs 7,000 for two-wheeler owners.
The Modi government's flagship initiative 'Make in India' launched 10 years ago has helped the country boost exports, push investments and promote manufacturing. Under the initiative, launched on September 25, 2014, a series of measures have been taken by the government to boost local manufacturing. These initiatives include the rollout of production linked incentive (PLI) schemes for 14 sectors, easing foreign direct investment (FDI) norms, reducing compliance burden to improve business climate, all approvals through single window, and rolling out of the national logistics policy.
India, the world's third largest oil consuming and importing nation, in July bought $2.8 billion worth of crude oil from Russia, second only to China which remains the largest importer of Russian oil, a report said. Russia emerged as India's biggest supplier of crude oil, which is converted into fuels like petrol and diesel in refineries, after Russian oil was available on discount following some European nations shunning purchases from Moscow over its invasion of Ukraine in February 2022.
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
In HDFC Life, the company has to pare 1.43 per cent, and in HDFC Ergo, it has to pare only 0.58 per cent.
Sharad Pawar reckons that the NCP has value as a united, going concern, not as a gaggle of leaders in search of followers, notes Shreekant Sambrani.
Educate yourself about your car insurance policy's terms and conditions before buying or renewing it, suggests Animesh Das, head of product strategy, ACKO General Insurance.
Don't solely focus on tax-saving alone.
'We are happy that the money has come to us immediately after it was announced.' 'For once, the government did what it promised.'
The new Insurance Bill may take little time to see light of teh day.
Finance ministry considers tax sops, regulation of hospitals to make health care affordable.
Senior-most Supreme Court judge Sanjiv Khanna on Wednesday recused himself from considering pleas seeking review of the apex court's judgment last year declining legal recognition to same-sex marriage, sources said.
According to the cause list of July 10 uploaded on the apex court website, a five-judge bench headed by Chief Justice DY Chandrachud would consider in chambers the pleas seeking review of the October 17 last year verdict.
At present, bank depositors get an insurance cover of Rs 1 lakh on their amount by the Deposit Insurance and credit Guarantee Corporation.
Govt is keen to push reforms in the insurance sector.
The finance ministry on Friday asked state governments to accord priority to employees of banks and insurance companies for Covid-19 vaccination, saying they are exposed to high risks during these difficult times.
Your entire contribution can go down the drain if policies are not renewed on time
Insurance firms want more clarity before increasing foreign partner's stake.
Putting together all the required documents and surmounting legal hurdles could be a challenge for the nominee.
Gig workers are usually spoken of in the context of the sharing economy, like Uber, Ola drivers, delivery persons for Zomato and Swiggy and so on. This is the first time such workers will be covered under India's social security law.
The Bill will come up for discussion in the upcoming winter session of the Parliament.
Here's how you can make buying insurance the cakewalk that it is, says Anit Jain
For the vehicle-owner, the overall cost of buying a car can go up by 2% to 3$%. For two-wheelers, the cost can rise by 1% to 1.5%
The Insurance Laws Amendment Bill is likely to come up in the Rajya Sabha on March 12 for consideration and passage.
