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).
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.
Despite the robust growth in this country, Apple's India share in its overall global sales remained modest -- constituting 1.5 per cent of its overall turnover of $389 billion in FY23.
The government managed to raise revenues by sending notices to high net individuals to did not file I-T returns last year.
Around 125 teams of the Transport and Revenue departments will be deployed during the 15-day plan so that the scheme could be effectively implemented.
There are over 25 crore PAN card holders in the country while Aadhaar has been issued to 111 crore people.
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.
If you think that revenue officials are going berserk, acting on their own, while the government chants the mantra of 'ease of doing business', you would be wrong. These moves appear to have full official backing, points out Debashis Basu.
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.
'If more than 60 commissioner-level tax officials were compulsorily retired in the span of a few months, surely the malaise is far deeper,' notes A K Bhattacharya.
'Quite a few notices have been issued in both black money and benami transactions.'
The government has exhausted only 39 per cent of its fiscal deficit target in the first half of FY24.
Deputy Chief Minister Manish Sisodia holds as many as 18 of the total 33 departments, including education, finance and home.
The guidelines for strategic disinvestment were issued on Monday itself when Finance Minister Arun Jaitley presented the Union Budget for 2016-17.
A combination of factors, including heavy investments in US Treasury bonds and dollar sales at a healthy profit, facilitated the Indian central bank in transferring a record surplus of Rs 2.11 trillion to the government for 2023-24 (FY24). The RBI's dollar purchases increased in FY24, supported by robust capital inflows endorsing the economy's health.
A BTech and PhD in police, human rights and social justice, Singh joined the federal anti-money laundering investigations agency in 2009 on deputation from Uttar Pradesh where he was serving as a state police service officer.
India's tax officials, long the scourge of foreign investors, are under government pressure to avoid aggressive claims against overseas funds.
After reading posts on social media that medical oxygen was required for the child during the train travel, a number of people arrived at the Bhopal railway station in the early hours of Friday carrying oxygen cylinders with them.
The I-T department had issued re-assessment notice in March 2015 to the media group after noting that Rs 642 crore has allegedly not been computed for the tax assessment purposes of NDTV for financial year 2007-2008.
Tourist centres have been closed in many districts, including Kottayam and Thiruvananthapuram, and a night travel ban has been imposed in the hilly areas of Idukki district.
He said assessees' "comfort zones" have to be significantly enhanced, even as deliberate evaders and offenders are punished.
With COVID-19 cases and the positivity rate rising in Delhi, the district officials have started forming teams to strictly enforce the mask mandate and issue a fine of Rs 500 to violators, officials said.
Union Minister Vilasrao Deshmukh on Tuesday appeared to be laying the blame for the Adarsh scam at former Chief Minister Ashok Chavan's door when he told the judicial panel probing it that the land was allotted to the society after a go-ahead from the revenue department.
Ahead of their departure, the skipper shared a picture on Twitter and captioned it as: "Next stop, New Zealand."
Around 73,388 people have defaulted aggregating to Rs 3,859 crore.
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.
'The BJP's numbers in this government are almost the same as those enjoyed by the Congress under P V Narasimha Rao when the reform process was kicked off in 1991.' 'As before, the only constraints on the prime minister's actions are internal, not external.' 'They come from his own assessment of the political consequences of any action,' points out Mihir S Sharma.
The revenue will accrue to the government as the organisations will be required to deduct tax at source while making payments to players, umpires, coaches, commentators and others involved with the tournament.
Every bank offers a different slab of minimum balance to customers, based on which 'free services' are provided
After imposing 20 per cent export duty on non-basmati rice, the government has banned the export of broken rice with an aim to increase domestic availability, according to a government notification.
Indian family-run business houses have in recent years seen ugly public spats between owners over control. But metals-to-ports conglomerate Essar's Ruia family seems to be an exception. Three generations of the Ruia family - founder brother Shashi and Ravi Ruia, their children and grandchildren - continue to live under one roof and jointly run the business empire.
'Karnataka's finances are much healthier than the Union government's, which is indebted to nearly twice the extent of the state.'
In its mid-year analysis presented in Parliament earlier this week, the Finance Ministry had said that there were concerns about overheating of the economy in the midst surge in capital flows.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
The California-headquartered company has not only seen more Indians coming to its platform, it has also seen engagement and conversation on various subjects going up manifold.
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.
The Minister assured that the I-T department would take a benign view of assessees volunteering to file returns and clear their dues and interest.
Revenue minister Narayan Rane lifted a stay on an earlier order of the government.
Production, storage and sale of firecrackers in the capital will be punishable with a fine of up to Rs 5,000 and three years jail under Section 9B of the Explosives Act, the minister told a press conference in New Delhi.
