Employers will now need to furnish detailed break-up of exemptions that an employee has claimed.
The Comptroller and Auditor General of India report for 2010-11 on direct taxes, tabled in Parliament on Friday, revealed that 958 lakh (95.8 million) PANs were issued up to March 2010 but IT returns filed in the last fiscal were only 340.9 lakh (34.09 million).
Debt-ridden Reliance Capital ready to cede control in home finance - Blackstone, Carlyle, Brookfield, and Piramal group are in talks to buy a large stake in Reliance Home Finance.
Deals worth nearly $17 billion have got cancelled including -- the $14.5 billion Reliance-LyondellBasell deal, the $2 billion Reliance-Value Creation transaction, the $12 million PVR-DT Cinemas deal and the $130 million Wockhardt-Abbott Laboratories deal.
Finance Minister Pranab Mukherjee said the Indian Infrastructure Financial Corporation Limited (IIFCL) will evolve a financing mechanism for giving increased support to infrastructure projects.
The industry today needs eager-to-learn leaders and not the know-it-all Gods that management institutions are creating.
Sources said the government wants all of the 500 and 1000 banknotes to be deposited and not burnt or destroyed for the fear of penal action.
The country's top bankers met RBI deputy governor Subir Gokarn on Thursday for the customary pre-policy meeting, where bankers pitched for a cut in savings bank rate, which will help them improve their net interest margins.
An unassailable lead in hand, the rampaging Indian team will now push for a series whitewash when it takes on a grossly mismatched New Zealand in the inconsequential fourth cricket One-dayer of the five-match rubber in Bangalore on Tuesday.
The challenge is to see through the 'golden opportunity' and find out what's in it for you?
In 1985, Balbir Singh Sr had donated his medals and memorabilia to the then SAI Secretary on being told that they would be displayed in a show window at the then proposed National Sports Museum.
External Affairs Minister S M Krishna and his Pakistani counterpart Shah Mahmood Qureshi are expected to hold telephonic talk on Tuesday to discuss ways to reduce trust deficit in pursuance to the decision reached between prime ministers of the two countries in Thimphu.
The Family Man is the espionage drama India is waiting to see, raves Karan Sanjay Shah.
Kolkata tops the list with 617 cancellations, New Delhi stands second with 203, followed by Mumbai at 190.
Aroon Purie, Editor-in-Chief, India Today, talks about his career and the various issues that concern today's youth.
A total 95 deaths deaths were reported since Friday morning, of which 37 in Maharashtra, 24 in Gujarat, nine in West Bengal, seven in Madhya Pradesh, four each from Rajasthan and Uttar Pradesh, three from Andhra Pradesh and Tamil Nadu and two from Delhi and one each from Punjab and Haryana.
The OTP will be sent on the registered mobile number and email of the individual
Mobile applications will now take centre-stage as Bharti Airtel grows its business.
Once you understand the common gaps and what they mean, you can profit by correctly assessing them.
Captain Surinder Kaur scored four goals as India thrashed a hapless Trinidad and Tobago 7-0 in a pool A match to stay in the hunt for a semi-final spot in the women's hockey event of the Commonwealth Games in New Delhi on Friday.
RBI deputy governor N S Vishwanathan has said the new framework was in line with the Insolvency and Bankruptcy Code guidelines.
Only cash deposits of over Rs 250,000 in bank accounts will be scrutinised by the tax department and in case of mismatch with I-T returns, tax plus 200 per cent penalty would be levied
"The general benchmark that we are getting to hear is in the range of 5-15 per cent. Clearly, the 30-40 per cent hike days are behind us. Along with the slowdown in the US markets, there is a general mismatch in demand and supply. I think firms are being cautious before announcing huge hikes," says Shiv Aggarwal, CEO of ABC Consultants.
While the lawmakers have to be complemented for their appreciable work removing various deficiencies in the Indian Cyberlaw and making it technologically neutral, yet it appears that there has been a major mismatch between the expectation of the nation and the resultant effect of the amended legislation. A perusal of the said legislation shows that there is hardly any logical or rational reason for adopting such an approach.
The ailing national carrier had invited requests for quote to lease out these wide-body Boeing 777s last November in its bid to mop up some additional funds amidst huge financial losses.
This permission was given some time late last month, before the Reserve Bank of India (RBI) on March 31 issued the indicative borrowing calendar for the states for April-June and the one for the Centre for April-September.
Afghanistan have a long way to go before they can challenge the leading Test nations and the best way to bridge the gap is to play regularly against their 'A' teams, coach Phil Simmons said after the team's deflating long-form debut against India.
With infrastructure claiming a larger share, movement and distribution of cement is bound to change.
In the past few months, 45 companies have signalled their intent to raise money through the institutional placement route.
Sumit Bhattacharya lists what the leaked WhatsApp conversations reveal about the man named Arnab Goswami, and a certain PDG.
It's the easiest thing to give people money, but the risk perception has changed, says Rajiv Lall, Managing Director, IDFC.
There's surplus liquidity and RBI, with plentiful forex reserves, is ready to pump whatever extra is needed
The study contains findings across credits and enterprise risk, operational risk, ALM and market risk. 'Both sets of banks (new-generation and traditional) have highlighted the lack of adequate people capabilities as well as the scope/ mandate of the mid-office as key concern areas,' it said. Both are at par with the surface, treasury scope, trading strategies and instruments; improved financial performance is strongly correlated with superior risk management practices.
Riding on the rising price scenario, the sugar sector can hardly expect any benefit from the Union Budget 2010-11.
With inflation rising at its fastest rate, the Union government was prompted to reduce import duties on edible oils even as Reserve Bank of India is expected to bring in tighter monetary policies to combat the rising inflation rate. In an effort to temper price rises, the government has already cut import duties on edible oils and banned the export of pulses and most types of rice.
'We are at $2.7 trillion and 2024 is not far away.' 'The country will need to grow by 9% every year for 5 years continuously and raise the aggregate investment rate to 38% of GDP to achieve the government's target of turning India into a $5 trillion economy.' 'Given the fact that we are only growing at about 5% and our investment rates are only about 30%, it may take a number of years before we can reach that targeted level.'
Companies attribute declining sales to the lack of demand from the automobile, real estate and consumer durables sectors, which are facing rising inventory levels that have choked cash flows.
The top three companies in terms of the largest value of physical shares showed over 30 per cent shares are held in physical form. Two of the top three were part of the S&P BSE Sensex and the Nifty50 indices.
At least two public sector banks Union Bank of India and Indian Overseas Bank have quietly increased interest rates on short-term deposits to raise resources and manage asset-liability mismatch. Union Bank has announced a special deposit scheme for 400 days, which offers 9 per cent interest. The scheme was launched much before the announcement of the monetary policy. Chennai-based Indian Overseas Bank has also raised rates for large deposits.
