Finance Minister P Chidambaram on Tuesday asked chief ministers to carry forward pension reform as the liabilities of both the Centre and states was expected to cross a staggering Rs 100,000 crore
Rs 111,294 crore has been allocated for army salaries. The Rs 113,278 crore allocated for army pensions surpasses that. Army planners are worried about this drain on funds that could otherwise go towards equipment modernisation.
Managing your money in January will set the trend for rest of the year, says Adhil Shetty.
The high court court on Thursday accepted Nokia's appeal to release its local factory after its seizure by authorities in a tax dispute, removing a hurdle for the sale of the company's mobile phone business to Microsoft.
Indians having undisclosed property abroad will have to pay tax and penalty.
If, as promised, the refunds are done within 24 hours it will obviate one of the biggest reasons that taxpayers distrust the tax department -- delayed refunds especially in cases of large refunds.
I-T officials say many lawyers, CAs, consultants, designers have not filed their TDS
Sellers downloading their monthly financial reports were served with those of other vendors, leading to a breach of competitive businesses data.
Summary of sports events and persons who made news on Tuesday
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The Companies Bill asked for promoting gender diversity by specifying induction of a minimum number of women directors
'Reviving the nuclear deal was crucial before the Obama visit... It was time for the BJP to admit that it was wrong, and redo the civil nuclear liability laws.'
The issuance of NBWs by a court also opens door of seeking Red Corner notices against both of the accused from the Interpol.
A Parliamentary panel examining the Lokpal bill may recommend that the proposed anti-corruption watchdog be a single window stop for probing all corruption complaints against government functionaries by ending multiplicity of investigating agencies to investigate graft cases.
The regulatory actions, undertaken by the RBI and the government, came hours after finance ministry sources confirmed that SBI was directed to bail out the troubled lender. For the next month, Yes Bank will led by the RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of SBI.
Vodafone Idea, which reported a loss of Rs 6,439 crore in the December quarter, said it had received letters from the department of telecommunications (DoT) directing immediate payment of dues amounting to Rs 54,000 crores after the SC judgment. "The company is currently assessing the amount that it will be able to pay to DoT towards the dues calculated based on AGR, as interpreted by the Supreme Court in its order dated October 24, 2019. The company proposes to pay the amount so assessed in the next few days," it stated.
As per the revised return filing timeline decided by the Council, for July, the sale returns will have to be filed by September 5 instead of August 10. Companies will have to file sale invoice for August with the GST Network by September 20 instead of September 10 earlier.
In this Budget, too, there were a number of measures aimed at plugging tax leakages and ensuring greater compliance, says Sanjay Kumar Singh.
Officers responsible for preparing budgets say their detailed costing projections are mostly ignored. The defence ministry simply takes the previous year's budgetary allocations for each service and adds a small percentage to those.
The ATMs are fully up now and customers can withdraw up to Rs 50,000 from Yes Bank as well as from other banks' ATMs.
None of the four benchmarks suggested by the RBI is ideal as banks in India create loan assets from their deposits and not borrowing from the regulator or market, says Tamal Bandyopadhyay.
The National Highways Authority of India will this year witness the highest ever growth out of the last decade. But Gadkari himself admits his biggest failure as India's roads minister has been his inability to curb loss of life in road accidents.
Those who have been handed the pink slip shouldn't make too many loan queries, advises Raj Khosla.
Is the latest mobile or car or a house the goal? If so, the savings and investments should be aimed at catering to it. The amount needed has to be worked out, and money needs to be saved, accordingly, suggests Sarbajeet K Sen.
Profitability and cash reserves have halved since the global financial crisis.
Its economy dependent on tourist arrivals, the hill state is looking at a summer of discontent. Not that the rest of the year promises to be any different. Ashwani Sharma reports from Shimla.
Sikhs across the UK will no longer face the prospect of disciplinary action for wearing turbans in workplaces after new rules come into force on Thursday.
'The government must provide more funds to enable the armed forces to fight and win tomorrow's wars,' states Brigadier Gurmeet Kanwal (retd).
Read the fine print carefully because even a policy with a high sum assured may have sub-limits
The proposal for listing public general insurers had come up in 2007.
Disclose foreign assets, redesignate NRO a/c and open a Resident Foreign Currency a/c to park forex earnings
While buying a term plan, do check how much money will be paid in lumpsum and how much of the money will come to the surviving family as a regular payout, suggests Sarbajeet K Sen.
In a major relief to stressed assets, the Cabinet approved the proposed IBC amendment that the licences, permits, concessions, and clearances for a corporate debtor cannot be terminated or suspended or not renewed during the moratorium period. The Cabinet also allowed amending the code to streamline the corporate insolvency resolution process and protect last-mile funding to boost investment in financially distressed sectors.
Options include raising both excise and service tax rates in FY16
Despite adding no new aircraft, Jet Airways saw more departures during the year, it flew more people, and achieved a higher load
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an Indian-American physician, will pay $15 million to the federal government for falsely billing for health tests that were never performed.
The government introduced new tax rules on Wednesday aimed at reducing litigation with multinational firms over cross-border transactions the government considers tax avoidance schemes.
General insurers in India have started campaigns highlighting the benefits of buying a student's travel insurance in India, as opposed to buying one offered by the university abroad, says Tinesh Bhasin.
Globally, the focus has moved back to India, especially in terms of telecom assets. Vodafone Idea, with some 300 million customers, continues to be attractive with shares available at a low price.
The ability to collaborate with your team and unlock synergies towards a common goal while operating from a remote location is one of the top and evergreen skills you can highlight on your resume.
Those just starting their careers should avoid adding to their liabilities, especially if they already have an education loan. They should think hard before taking a car or home loan.
