Kingfisher Airlines, which emerged out of an impasse over salary payment to its staff, is likely to face more trouble soon with the Revenue Department deciding to move the Supreme Court to expedite recovery of about Rs 330 crore dues.
In a set of FAQs on applicability of Goods and Services Tax on banking, insurance and stock brokers sectors, the revenue department has clarified that transactions relating to securitisation, derivatives, future and forward contracts are exempt.
His value lifestyle brand Zudio signals a coming of age of retail in small town India.
Kartik Kumar, a Rashtriya Janata Dal MLC, who became the state's law minister in the new Nitish Kumar government, resigned hours after being moved to a lesser significant Sugarcane Department on Wednesday night.
The government has suffered a loss of Rs 12,488.93 crore (Rs 124.88 billion) due to under-invoicing of gross revenue by six telecom companies including Reliance Communications, Vodafone and Bharti Airtel, the CAG said in a damning report on Friday.
Revenue Secretary Sunil Mitra admits tax collection target for 2011-12 is ambitious but achievable.
A bitter dispute has broken out in the Rajkot royal family of Gujarat over the ancestral property worth hundreds of crores with one of the members moving court.
If you have any grievances or disputes regarding the demand stated in the notice, consider seeking professional help.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
There have been demands from bankers and insurers to hike the tax exemption limit from Rs 100,000 per annum to encourage household savings.
Hundreds of people are being evacuated from coastal villages in Kutch district in view of cyclone Biparjoy, but authorities are facing a challenge as many villagers are reluctant to leave their livestock and belongings behind.
In its drive against tax evasion, the finance ministry is planning to add to the list of high-value transactions required to be reported to the revenue department in annual information returns (AIRs).
The Comptroller and Auditor General of India (CAG) has pointed out several flaws in the financial practices of the Gujarat government and said there was a need to formulate a realistic budget based on the needs of the departments.
IT services firm HCL Technologies on Friday reported a 16.7 per cent increase in net profit at Rs 2,014 crore for the quarter ended September 2016.
The bodies of 13 people who were killed in a landslide at Plaupally in Koottikkal village (Kanjirapally Taluk, Kottayam District) were recovered.
Three months have passed, but the Maharashtra government has not been able to finalise its report on the results of the September 22 referendum it had organised in 22 villages of Raigad district that form part of the 10,000-hectare Mumbai Special Economic Zone developed by Jai Corp, a company promoted by Reliance Industries chairman Mukesh Ambani's close associate Anand Jain.
The form will be redesigned in such a way that investors could fill up most of the details themselves
No violation of rules or regulations were found in the transfer of land by businessman Robert Vadra's Skylight Hospitality to realty major DLF, the Haryana government has told the Punjab and Haryana high court in Chandigarh.
The income and profits shown by various BBC group entities are "not commensurate" with the scale of their operations in India and tax has not been paid on certain remittances by its foreign entities, the income tax authorities said Friday, a day after they ended a three-day-long survey operation against the British media organisation.
The water level of the Yamuna in Delhi breached the danger mark again on Sunday following a surge in discharge from the Hathnikund Barrage into the river after heavy rain in parts of Uttarakhand and Himachal Pradesh.
The case relates to RTI applicant S P Manchanda, who sought to know from the revenue department of Delhi government the registration details of a property traded by him in 2000 but was informed that they do not maintain the property-wise list.
'Each state and central government body may be asked to update its system to ensure PAN is used as a common identification to access its services.'
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.
At least 120 insurance intermediaries and aggregators from across the country are under scrutiny, mainly from Mumbai, Gurugram and Bengaluru.
An ordinance to protect Hindu temples and manage their affairs across Kashmir Valley is in the offing.
Rajasthan Chief Minister Ashok Gehlot on Wednesday said the accused in the Kanhaiya Lal killing case in Udaipur were 'linked' to the Bharatiya Janata Party and should have been 'hanged by now' but the investigation by the National Investigation Agency was not progressing as it should.
Suella Braverman, an Indian-origin barrister, was appointed as the UK's new Home Secretary by Prime Minister Liz Truss earlier this week
In a counter affidavit filed in the court, the department has said that temporary transfer of rights to copy in a limited manner will be chargeable to service tax.
The new limits for filing appeals by the Income Tax department before the Income Tax Appellate Tribunal (ITAT), high courts and the Supreme Court have been revised to Rs 3 lakh, Rs 10 lakh and Rs 25 lakh, respectively, from Rs 2 lakh, Rs 4 lakh and Rs 10 lakh.
May adopt dtrict action including prosecution and property attachment.
Officials say that such a list, to be updated on a real-time basis, will serve as a ready reckoner in identifying those committing multiple economic offences
A K Bhattacharya lists three reasons why Finance Minister Arun Jaitley will most likely present a full Budget on February 1, 2019.
Kerala Chief Minister Pinarayi Vijayan on Thursday declared the southern state as India's first fully e-governed state where an entire range of government services have been digitised so that they can be provided to the citizens promptly and transparently.
In a major bureaucratic reshuffle, the Madhya Pradesh government has transferred 33 Indian Administrative Service officers including some collectors and principal secretaries.
Reliance Jio has sent a second legal opinion to the Telecom Regulatory Authority of India (Trai) on the subject of the potential allocation of satellite spectrum. The letter is written by retired Supreme Court Justice L Nageshwara Rao and argues in favour of auctions, stating that any other method for allocating spectrum apart from auctions could be constitutionally unsound. Business Standard has reviewed the letter.
Concerned over rising incidents of tax evasion, a Parliamentary Committee on Thursday asked the government to keep a close watch on high spending individuals and also take steps to reduce tax arrears.
The departments of income tax, sales tax and excise were named by two Supreme Court judges as the most corrupt ones anywhere in the country.
Gurgaon administration has attached around 100 acre land "illegally" occupied by singer Daler Mehndi for his farm house at Sohna, about 15 km from Gurgaon.
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