The I-T officer can go back up to six years to scrutinise the books of accounts of the assessees.
The country has a long way to go before it claims to have arrived, he said.
The IL&FS management is also talking to its second-largest shareholder, Orix Corporation of Japan, to infuse more funds into the company - in case any shareholder backs out during the rights issue.
About railways sector, the Survey said that it is facing stiff competition from other modes of transportation and the government is initiating various transformative measures to keep railways on track.
Special Economic Zones are likely to be central to realising Prime Minister Narendra Modi's ambitious Make in India agenda.
Why are investors gung-ho about State Bank? asks Tamal Bandyopadhyay.
Athens has pushed two reform packages through parliament
'We have already sanctioned loans worth over Rs 3,000 crore to around 120,000 customers.'
In the new decade, the scene will change because the banks till recently had been challenged by the fintechs, but the techfins have now entered the arena, observes Tamal Bandyopadhyay.
Despite recent developments that have accelerated the impending extradition of fugitive diamantaire Nirav Modi, who has been in custody in London's Wandsworth Prison for over two years, the last month has seen his uncle Mehul Choksi dominate the headlines instead with his circus-like exhibition in the Caribbean that has involved red herrings such as a "girlfriend", to whom his wife seemed to have no objection, and possibly concocted stories of being kidnapped and manhandled. Choksi was widely regarded as Modi's Svengali in Mumbai when he returned from Belgium to expand his business. He had fled to Antigua well before news around how Modi finagled thousands of crores from Punjab National Bank (PNB) and other institutions through a series of allegedly coordinated and fraudulent actions involving letters of undertaking, or LoUs.
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
Jaitley will be cremated on Sunday afternoon at the Nigambodh Ghat, BJP leader Sudhanshu Mittal said.
Cohen, 52, was sentenced to 36 months in prison by the US District Court for the Southern District of New York.
'Outside investors don't want to get tangled up in a religious war.'
The government was also faced with problems on its balance of payments. It took steps to conserve declining foreign exchange reserves, and began to regulate the production, supply and distribution of gold. It banned forward trading in the yellow metal in November 1962, and introduced gold bonds as well, reveals the RBI's annual report for the year ending June 1963.
Imran Khan knows Pakistan is holding a strong hand and doesn't have to flaunt it while claiming victory. But Pakistan has learned from the experience of the 1990s -- high risk of going out on a limb, asserts Ambassador M K Bhadrakumar.
'You cannot fight a disease as complex as COVID-19 without a carefully calibrated, localised response.'
That's all it takes to protect an institution -- just one person with no past and no greed for the future, says Shekhar Gupta.
The demand for OROP has been projected as an unambiguous issue but a good policy argument must have a sound economic element.
The idea is to incorporate global best practices in the Indian context.
All FIPB records will now be digitised; old and unnecessary files will be weeded out
Following the address by President Ram Nath Kovind, the economic survey will be tabled in the two Houses.
'Mr. Modi has now become 1st PM to have his illegal orders set aside by the SC'
'Modi remains the most popular politician in India; the BJP's organisational and fundraising prowess is considerable; and the Opposition, while newly collaborative, has no leader or clear economic messaging as of yet.'
Inviting private sector in Indian Railways is a good idea.
Justice Gogoi's tenure as judge and as CJI was marked by some controversies and personal allegations but that never came in his way of his judicial work that was reflected in the last few days when benches headed by him delivered some path-breaking judgments.
The momentum created by the landslide victory of the ruling party should be utilised to carry forward reforms in the legal field, says M J Antony.
Use of blockchain technology will ensure that banks will not be blindsided like in the case of the Nirav Modi-Mehul Choksi blowout at PNB, says Raghu Mohan.
What is killing the risk appetite of the bond buyers is the inconsistency in the central bank's approach. It needs to allow the yield to find its own level, gradually. To ensure that, the RBI may adopt a similar approach with which it handles a slipping rupee, asserts Tamal Bandyopadhyay.
The loss of income has severely dented the loan repayment ability of small borrowers
This is a terrible situation for a growing economy to be in, and the central bank would be expected to act to correct the situation.
The Child Protection Services programme under the Integrated Child Development Services was increased to Rs 1,500 crore from Rs 925 crore.
The cumulative loss of 20 state-run lenders stood at Rs 14,000 crore during Q4
'The stimulus message was tagged on to what was meant to be an exhortation to self-reliance, glossing over the near impossibility of merging the immediate requirement of relief for a huge population and a questionable strategy for the future trajectory of a large economy aspiring to superstardom,' points out Shreekant Sambrani.
The government has asked the Indian Banks' Association to make sure that IDBI Bank's wages are on a par with other banks.
The most pressing issue facing the financial sector is the rising stock of non-performing assets in the banking system
The upcoming Budget gives Finance Minister Arun Jaitley a chance to let states boost spending.
'The government should refrain from 'adventurism' and 'megalomania'.' 'But this should be true of reckless government action against every Indian, whether or not they are wealthy or have access to the finance minister even when he is in hospital,' says Aakar Patel.
Can the newly-minted Jal Shakti ministry bring water to some 19 crore Indian households that have never had taps or heard the sound of flowing water, wonders Vinayak Chatterjee.
To the extent that body shopping is replaced by true offshoring, everyone is better off, says Ajay Shah.
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