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Taxpayer will also have to forego deduction under 80CCC (contribution towards certain pension fund), Section 80D (health insurance), 80E (interest on loan for higher education), 80EE (interest on loan taken for residential property), 80EEB (purchase of electric vehicle), 80G (donation to charitable institutions), and 80G (rent paid).
Currently, the enforcement officers are making seizures of assets directly and indirectly connected to offenders, including jewelers Nirav Modi and Mehul Choksi in the Punjab National Bank fraud and Vijay Mallya in the Rs 9,000-crore IDBI loan case.
Addressing a session at the Future Investment Initiative 2019 here, Modi said India offers a huge investment opportunity in the infrastructure sector also as he emphasised that the country aims to be a $ 5 trillion economy in the next five years.
The court also refused to suspend the conviction in the case until the appeals were decided.
The queries, sent in November, were mainly about Capital Investment Trust, which the I-T department said, was used for the purpose of transferring foreign funds comprising global depository receipts (GDRs) of the value of $400 million to two Indian entities - Reliance Utilities & Power (RUPL) and Reliance Port & Terminal (RPTL), owned by the Ambani family. A show-cause notice issued on March 29 to Ambani's wife Nita, and their three children.
The Securities Appellate Tribunal (SAT) has stayed a Sebi order which imposed a fine of Rs 1 crore on HDFC Bank for invoking securities pledged by stock broker BRH Wealth Kreators, till further orders. Sebi had imposed the fine and also directed the bank on January 21 to transfer Rs 158.68 crore along with 7 per cent interest per annum into an escrow account till the issue of settlement of clients' securities is reconciled. "The fact that the circulars have been violated or not and whether the securities have been rightly invoked by the appellant requires consideration," the tribunal said in an order dated February 19 while giving three weeks time to Sebi to file a reply.
Rajput's father while opposing the plea of Chakraborty, said Mumbai Police has not filed any case after the death of his son and did not allow the Patna Police to investigate by quarantining their senior officers.
It has also attached fresh 66 banks accounts, holding deposits of Rs 80.07 crore, of the Gitanjali group, owned by Modi's uncle Mehul Choksi.
The bench on October 16 had reserved the judgment after marathon hearing of 40 days.
The pandemic should force you to take a hard look at the downside risks that could jeopardise your finances.
'One evening, my mother announced during dinner that we would open a Cumulative Time Deposit account in the post office. 'My father froze. 'The handful of curd rice that he had just put into his mouth remained there for a few extra seconds.' Colonel K Thammayya Udupa (retd) recalls an important decision that changed his family's life forever.
Chartered accountant and Sebi registered investment advisor, Harsh Vardhan Roongta, answers your home loan queries
While the CPI-M in a statement after the secretariat on Friday maintained that Balakrishnan, who is also a Polit Bureau member, had sought leave for further treatment which had been accepted, the leader of opposition in the state assembly Ramesh Chennithala dubbed the move as a delayed dawning of wisdom.
The agency's case is based on a National Investigation Agency complaint filed against the accused and Pakistan-based organisation Falah-i-Insaniyat Foundation.
The assets mentioned in the Sebi order are already in possession of the ED for violation of an anti-money laundering law by Mallya and PMLA overrides all other laws, providing ED first right over the assets.
BCCI is leaving no stone unturned to hold the upcoming edition of the IPL without any glitch
The DMK feels its genuine gestures have had no bearing on the governor's politico-administrative conduct, which is 'more political and politicised than administrative and Constitutional', observes N Sathiya Moorthy.
'Only the coming years will tell whether the government finds this an easy way of relieving itself from its fiscal constraints.'
Bolton said that the arguments for China joining the World Trade Organisation was that it would become a more market-oriented rules-based society.
Cairn wants the stakes that its different subsidiaries, including those registered abroad as well as showpiece Rajasthan oilfields, hold in oil and gas properties, to be transfered into one India-based company.
In this Budget, too, there were a number of measures aimed at plugging tax leakages and ensuring greater compliance, says Sanjay Kumar Singh.
Singhania's Rs 1,041 cr gift to son Gautam triggers war over assets
After the Reserve Bank of India restricted the Sri Guru Raghavendra Co-operative Bank from doing business with immediate effect and capped the withdrawal limit at Rs 35,000, depositors on Tuesday queued up outside the bank's branches in Bengaluru. The regulatory body said the bank will continue to undertake banking business with restrictions until its financial position improves.
Sarfaraz alias Aman Khan has been booked for rape and cheating.
'The fact that you did not receive the rent through a bank will not take away the taxability of the rent in your hands.'
Talking to reporters in Kolhapur, Pawar said it was not right on the part of the Centre to hand over the probe into the case, which was with the Pune police, to the NIA as law and order was a state subject. NCP leader and Home Minister Anil Deshmukh said Uddhav Thackeray had overruled him on the probe in the case.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
A five-judge Constitution bench headed by Chief Justice of India Ranjan Gogoi, which started the day-to-day proceedings on August 6 after mediation proceedings failed to find an amicable solution to the vexatious dispute, has revised the deadline for wrapping up the proceedings and has fixed it on October 17.
Experts say improper records could lead to large-scale leakages and pilferage and benefits going to ineligible people.
Inter will be his sixth club in a career which began when he made his debut for Anderlecht as a 16-year-old and has taken him to Chelsea, West Bromwich Albion and Everton.
As per the RBI directions to PMC Bank, withdrawals have been capped at Rs 1,000 per account and the bank is not allowed to make any fresh loans.
Before repeal of Article 370 and Article 35-A in August last year, non-residents could not buy any immovable property in Jammu and Kashmir. However, the fresh changes have paved the way for non-residents to buy land in the union territory.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The going is not going to be easy for the DMK and its allies in Elections 2024. Despite the seats sweepstake in the 2021 assembly polls, the vote-share difference of 5.6% (DMK's 45.38% versus AIADMK-BJP's 39.72%) is not insurmountable on a bad day, points out N Sathiya Moorthy.
The Central Bureau of Investigation has registered an FIR against former Maharashtra home minister Anil Deshmukh in connection with allegations of bribery against him and carried out searches at various locations in Mumbai on Saturday, officials said.
Maharashtra Chief Minister Ashok Chavan, whose name has been linked to a property scam related to the Adarsh Society in Colaba, Mumbai, attempted to clarify his stand on Friday.
Getting US citizenship will in no way affect your right of being able to own or hold the agricultural land in India.
The raids resulted in recovery of documents of some dummy firms linked to Mallya like Gold Reef Investments Ltd and McDowell Holdings Ltd.
Indian Hotels rolls back its multi-brand strategy to focus solely on luxury, looks to paint all its properties with the Tajness brush.
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