Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Capital markets regulator Sebi on Wednesday streamlined the payment of processing fee through the Unified Payments Interface (UPI) system for shares applied for and allotted during an initial public offering (IPO). In addition, the regulator has devised a new reporting format for capturing the data of all ASBA (Application Supported by Block Amount) applications unblocked by Self Certified Syndicate Banks (SCSBs) and their corresponding date of actual unblock. The new format has been put in place after reviewing the performance of SCSBs on timely unblocking of application amounts and feedback received from market intermediaries, Sebi said in a circular.
'Gehlot is right now doing things, which are not appreciated by the Gandhis.' 'The Gandhis have realised that their writ does not run in Rajasthan, therefore they have deflected the issue to Kharge.'
Public sector lender Bank of India has moved to the National Company Law Tribunal (NCLT) seeking initiation of insolvency proceedings against Future Retail Ltd and a moratorium over the assets of the Kishore Biyani-led debt-ridden firm. Besides, Bank of India (BOI), the lead banker of a consortium of banks that lent money to Future Retail Ltd (FRL), also suggested the insolvency tribunal appoint Vijay Kumar V Iyer as the interim professional of the company. Meanwhile FRL, in a regulatory filing, said it has been served and received a copy of the petition and is in the "process of taking legal advice".
"If Gadkari decides to build the bridge between the BJP and the Shiv Sena, he can approach Chief Minister Uddhav Thackeray and request him," Sattar said.
The Supreme Court on Monday dismissed a petition filed by the Kerala government against the state high court verdict rejecting the pleas challenging the Centre's decision to lease out Thiruvananthapuram International Airport to Adani Enterprises Ltd.
Agriculture Minister Narendra Singh Tomar on Monday replied in the negative when asked in the Lok Sabha if the government proposes to give compensation to the families of farmers who have died during the ongoing agitation against new farm laws.
The government has lost its appeal in the English High Court against a $111 million arbitration award in favour of Reliance Industries Ltd and Shell in a cost recovery dispute in the western offshore Panna-Mukta and Tapti oil and gas fields. High Court judge Ross Cranston on June 9, 2022 ruled that the government should have brought its objections over the arbitration tribunal not meeting the required thresholds, when issuing the 2021 award earlier, two sources with knowledge of the matter said. Rejecting the government's arguments, the court said the objections are barred by an English law principle whereby a party cannot raise matters in new proceedings that could have been raised in earlier proceedings.
Shankar Prajapati, a 57-year-old potter in Dharavi, has given up hope of getting a bigger house for his family. He lives cheek by jowl in a hutment measuring 200 square (sq.) feet (ft) in the nondescript shanty town. "We have surrendered to our fate. We cannot wait forever for better accommodation. "Perhaps we are not meant to dream big," despairs Prajapati. Raju Korde, president, Dharavi Redevelopment Committee, and a local resident, agrees with Prajapati.
Members of the Legislative Council asked how some former legislators could enter the Vidhan Bhavan premises amid COVID-19-related restrictions and sought a report on the matter.
November 8 marks 6 years after demonetisation. A K Bhattacharya reveals how the prime minister and the RBI worked together for months before Modi's 8 pm speech. A riveting excerpt from The Rise Of Goliath: Twelve Disruptions That Changed India.
Fans carried rainbow flags to show their support for LGBTQ rights.
The Ahmedabad Urban Development Authority (AUDA) on Wednesday invited proposals from consultants to conduct a 'gap analysis' to assess the existing infrastructure in the city and to state what more is needed to make it a potential venue for the Olympic Games.
The proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020, that are envisioned to protect consumer interests, may further compound the impact of multiplicity of regulations on the e-commerce sector, the Indo-American Chamber of Commerce (IACC) had told the ministry of consumer affairs. IACC, the apex bilateral chamber for Indo-US business, had told the government that the proposed amendments would increase compliance liabilities that risk severely impairing the growth of the sector.
A gazette notification was issued after the panel, headed by retired Supreme Court judge Ranjana Prakash Desai, signed the final order giving Jammu six additional seats and one more to Kashmir.
Mishra has sought clarification from the state government regarding the proposal of convening the Assembly session, said sources on Monday.
'Whether you think you're better off as friends, or whether you want to give things a try with him, you need to talk things out with him.'
Changing a state's name requires constitutional amendment and it is done after taking into consideration all relevant factors, he said.
Uddhav said the protesters were citizens standing up for future of the planet.
The government may drop its plan to decriminalise cheque bounce offences after there were requests to continue the existing system, which can potentially make people honour their financial commitments due to fear of prosecution. It would seek directions from a Supreme Court panel formed to expedite the pendency of cheque bounce cases before taking a final call. Last year the Department of Financial Services (DFS) had proposed decriminalising minor offences, which included cheque bouncing, for improving business sentiment and unclogging court processes.
'It is Maharashtra that started this fire.' 'Suddenly, out of nowhere, they started talking about the border dispute being sub judice and they started talking about meeting the people in Belagavi who want to break up our state.'
'I have put forth my papers, after due consultation with my party leadership, to allow a free and fair probe into the killing of Chesterfield Thangkhiew', Meghalaya home minister Lahkmen Rymbui said
In a shocking incident, a Shiv Sena MLA forced a civic contractor to sit on a waterlogged road in Mumbai on Saturday and asked workers to dump garbage on him for allegedly not getting the drains cleaned properly.
The Supreme Court's query asking a rape accused whether he would marry the victim was based on 'judicial records' containing an undertaking of the man that he would marry the minor girl, a relative, after she attains 18 years of age, it was stated on Wednesday.
European football's governing body UEFA has urged FIFA to stop pushing its plan for a two-year World Cup and instead to engage in "genuine consultation" over reform of the international match calendar.
Azarenka said she believed getting vaccinated was the socially responsible thing to do
Last month, at the inauguration of the Jammu and Kashmir Police Women's 2020 Cricket Tournament at Anantnag, Raina had said there is "so much more in store" for the Union Territory.
According to the Centre's legislative business list for the upcoming session, three bills have also been listed to replace three ordinances.
The Centre has conceded most of the demands of potential buyers of Neelachal Ispat Nigam Ltd (NINL). These include lowering the lock-in period for sale of assets to one year and allowing the new buyer to undertake the amalgamation of a special purpose vehicle (SPV) into NINL. An inter-ministerial group led by Department of Investment and Public Asset Management (Dipam) secretary Tuhin Kanta Pandey and the core group of secretaries on divestment (CGD) headed by Cabinet secretary Rajiv Gauba have decided that the lock-in period can be reduced to one year from the date of completion of sale, from the earlier three years proposed by Dipam, an official in the know said.
The heavy industries ministry has asked US-based electric car major Tesla to first start manufacturing its iconic electric vehicles in India before any tax concessions can be considered, government sources said. They said that the government is not giving such concessions to any auto firm and giving duty benefits to Tesla will not send a good signal to other companies that have invested billions of dollars in India. Tesla has demanded reduction in import duties on electric vehicles (EVs) in India.
Sri Lanka's former spinner Muttiah Muralitharan requested Tamil actor Vijay Sethupathi to opt out of his biopic '800' considering opposition and the star acceded saying 'thanks.'
Sitharaman said the Bill has proposed giving a legal framework for fixed-term employment through which contract workers serving a fixed-tenure will get equal statutory social security benefits as regular workers in the same unit.
Adani group on Friday rejected NDTV's assertion that Sebi approval is necessary to acquire interests in RRPR, saying the promoter entity is not a part of the regulator's order that restrained Prannoy and Radhika Roy from accessing the securities market. Terming the contentions raised by RRPR as "baseless, legally untenable and devoid of merit", Vishvapradhan Commercial Private Ltd (VCPL) said the holding firm is "bound to immediately perform its obligation and allot the equity shares" as specified in the Warrant Exercise Notice. In a regulatory update, Adani Enterprises Ltd said VCPL has received a reply on behalf of NDTV and RRPR over the Warrant Exercise Notice dated August 23, 2022.
The collegium had recommended her transfer on August 28, after which she had made a representation requesting it to reconsider the proposal.
HDFC Bank, the country's largest private-sector lender, lost to competition wholesale loans of around Rs 50,000 crore after it increased interest rates in May, said Chief Financial Officer Srinivasan Vaidyanathan in an analyst call. "There were some customers who were offered lower rates by other market participants. "But we decided not to cut back on our rates," he said while addressing analysts after the announcement of the bank's Q1 earnings.
The government had registered the amendment proposal in Parliament on May 22 after releasing the new political map of Nepal depicting Kalapani, Lipulekh and Limipiyadhura as its territories on May 18.
SBI will auction two non-performing accounts (NPAs) next month to recover dues of over Rs 313 crore, according to a notice by the lender. The two accounts to be put up for e-auction on August 6 are Bhadreshwar Vidyut Pvt Ltd (BVPL) with a loan outstanding of Rs 262.73 crore and GOL Offshore Ltd with Rs 50.75 crore dues. "In terms of the bank's policy on sale on financial assets, in line with the regulatory guidelines, we place these accounts for sale to ARCs/banks/NBFCs/FIs, on the terms and conditions indicated there against," SBI said in the notice. The reserve price for the auction of Bhadreshwar Vidyut is set at Rs 100.12 crore and for GOL Offshore at Rs 51 crore.
Jadhav said that after Maharashtra Minister Chhagan Bhujbal answered Devendra Fadnavis's remarks on OBC reservation with 'evidence', the BJP became 'uneasy'.
The government is considering blocking internet protocol (IP) addresses of companies/exchanges on which trading in cryptocurrencies is happening, said a source in the know. Two months ago, the government had said it intended to bring a Bill to ban private cryptocurrencies and introduce India's own digital currency in line with what China and other countries had done. This move is part of that. The government had also proposed to promote technology like blockchain. Industry, however, says banning decentralised currencies like bitcoin and ethereum is not possible.
In a rare legislative action, a private member's Bill seeking to protect the rights of transgenders was passed unanimously by voice vote in Rajya Sabha on Friday.
