Reliance General Insurance Company (RGIC), a subsidiary of Reliance Capital, finds itself in a bind as the Directorate General of GST Intelligence (DGGI) has issued multiple Show Cause Notices (SCNs) amounting to Rs 922.6 crore. This development comes at a time when Reliance Capital is currently undergoing a debt resolution under the National Company Law Tribunal (NCLT) process in which the Hinduja group has emerged the winner. The Hinduja acquisition is currently awaiting the Supreme Court's approval after the Torrent group, the winner of the first round, challenged the second auction conducted by the lenders of Reliance Capital.
The case has been registered against unidentified officials of police and revenue department on the basis of a complaint from K Arjunan, district secretary, Communist Party of India-Marxist.
The government has exhausted only 39 per cent of its fiscal deficit target in the first half of FY24.
The Enforcement Directorate on Tuesday conducted raids against Hero Motocorp executive chairperson Pawan Munjal and others as part of a money laundering investigation, official sources said. The searches were carried out at premises located in Delhi and neighbouring Gurugram in accordance with provisions of the Prevention of Money Laundering Act (PMLA).
"Are we not giving a picture that there is no other person and the entire department is full of incompetent people?" a bench headed by Justice B R Gavai told Solicitor General Tushar Mehta.
There are doubts about the meeting of indirect tax collection target for the current fiscal as there is slowdown in the economy.
The missile was fired from a ground mobile launcher at launch pad number-1 of the Integrated Test Range (ITR) near here at 3.55 pm, and it hit the target with accuracy, the sources said.
The finance ministry is looking at rationalising long-term capital gains tax structure by bringing parity between similar asset classes and revising the base year for computing indexation benefit to make it more relevant, an official said on Friday. Currently, shares held for more than one year attract a 10 per cent tax on long-term capital gains. Gains arising from sale of immovable property and unlisted shares held for more than 2 years and debt instruments and jewellery held for over 3 years attract 20 per cent long term capital gains tax.
Tracking a smaller number of taxpayers with a high income base and using data from millionaire surveys and purchases of high-end cars and houses can make the tax department more efficient.
PMO asked income-tax department to submit report on action taken against identified benami owners
The minister said the companies have given representation which is being examined by the DoT before taking a final decision.
'We now look at divestment as an opportunity for maximising the value of public assets, not necessarily as a short-term resource-raising measure.'
The revenue department has not seen a single deposit, owing to the outbreak of the COVID-19 pandemic.
Banks may become more cautious in extending loans, as more and more farmers may take loans, relying on the assurance that a debt relief commission will back them in the event of default.
The tragic incident occurred on Wednesday when the Appar temple's chariot procession was passing through the Thanjavur-Boodalur Road.
According to sources, DoT has been asked to prepare a matrix of various levels of reserve price and spectrum usage charge at every Rs 1,000 crore (Rs 10 billion) difference in descending order and the impact that would have on tariffs for end-consumer and the revenue accrued to the government.
The case was registered against the minister and four others earlier this week on the orders of the high court, after the local police allegedly did not act on the complaint filed with them.
Revenue of Indian postal services has increased to Rs 4431.85 crore in 2004-05 from Rs 3297 crore in 2000-01, the Rajya Sabha was informed on Thursday.
Lawyers representing govt point out that telcos, because of the large money they can save if they get a favourable judgement, prefer to fight till all legal options are exhausted
Deputy Chief Minister Manish Sisodia holds as many as 18 of the total 33 departments, including education, finance and home.
Chaudhary Charan Singh, who on Friday was conferred with India's highest civilian award Bharat Ratna, is popularly known as a champion of farmers.
'Karnataka's finances are much healthier than the Union government's, which is indebted to nearly twice the extent of the state.'
Ahead of the second instalment of advance tax, the revenue department is scrutinising entities that have registered negative growth in their tax deducted at source (TDS) payments, even when they reported healthy advance tax payments. According to sources, taxmen have observed a mismatch in TDS payments from at least 60-65 small to mid-sized companies. Officials said it is unusual for TDS to not increase, given the improved turnover and profits - if higher advance tax payments are any indication.
It also promised to launch the 'Poshane' scheme through which every BPL household will be provided with half litre 'Nandini' milk every day and five kg 'Shri Anna - siri dhanya' through monthly ration kits.
Market concentration in the country's telecom sector continues to scale new heights despite government bailouts of public-sector Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL), and private-sector Vodafone Idea. The combined revenue (or net sales) share of the country's top two telecom operators - Bharti Airtel and Reliance Jio - in the sector's total reached an all-time high of nearly 72 per cent in FY23 from 70.4 per cent in FY22 and around 60 per cent in FY20. The net sales of Reliance Jio and Bharti Airtel India were Rs 1.67 trillion in FY23, up 18.6 per cent from the Rs 1.4 trillion a year earlier.
Rebel Himachal Pradesh Congress MLA Rajinder Rana on Saturday claimed that nine more party legislators 'feeling suffocated' due to Sukhvinder Singh Sukhu's style of functioning are in touch with him as he called the chief minister 'liar number one'.
Finance Minister Nirmala Sitharaman will present the much-awaited 2022-23 Union Budget on February 1. While there has been strong recovery in some sectors, touch services like hospitality, tourism and leisure continue to suffer after two Covid-19 waves. Household savings have been hit due to increased spending on health care. Consumption has still not reached pre-pandemic levels.
An improvement in the wind speed November 21 onwards might bring air pollution levels down.
The finance minister could review customs duty on crude oil, other exemptions.
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