The government would fall short of its target for direct tax collections for the second consecutive year, with the revenue department estimating its direct tax receipts at Rs 3,70,000 crore (Rs 3700 billion) for 2009-10.
Farmers say they are paid lesser by Rs 110 per sq meter for road project. A day before the announcement of Nano project at Northcote farm in Chharodi village in Gujarat, the Ahmedabad district collector along with revenue department officials had assured the farmers that they would be duly compensated for the amount of land they given for four lane road project.
The reason for the largesse, a first in the revenue department, is on account of direct and indirect tax collections exceeding the target (Budget estimate) for 2006-07. Total revenue collections stood at Rs 470,987 crore (Rs 4,709.87 billion) for the year, against the targeted Rs 439,952 crore (Rs 4399.52 billion).
According to sources familiar with the development, Sebi has decided to make references to the Ministry of Corporate Affairs and the Department of Revenue, citing violations of the Acts these bodies govern.
Siddaramaiah, who hails from the shepherd Kuruba caste, holds the record for presenting the highest number of Budgets in Karnataka -- 13 so far. He has often spoken about how he was mocked in 1994 before he presented his first Budget. 'Some people asked, "Can he count sheep?",' Siddaramaiah told a regional news channel.
The finance ministry on Friday withdrew expenditure curbs on various departments and ministries imposed in June in the wake of the COVID-19 second wave, reflecting improvement in public finances and the urgency to step up growth.
In a reversal of its two-year-old decision to avoid from the purview of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985, the finance ministry, which administers the Act, has once again proposed compulsory registration of all medicine manufacturers and dealers that handle drugs that contain narcotic and psychotropic substances before the Central Bureau of Narcotics (CBN). CBN comes under the revenue department of the ministry.
Even as the Shiv Sena-led Maha Vikas Aghadi dispensation is currently facing a survival crisis due to a rebellion by Sena minister Eknath Shinde, the departments -- mostly controlled by ruling allies Nationalist Congress Party and Congress -- have issued government orders for the release of funds for various development-related works worth thousands of crores in the last four days.
In another instance of Indian tax authorities adopting a hard-nosed stance to prevent abuse of tax avoidance treaties, the revenue department recently opposed a proposal of a Cyprus-based company to increase its stake in an Indian telecom services company from 40 per cent to nearly 74 per cent.
Portfolios were on Tuesday allocated in the new Bihar cabinet headed by Chief Minister Nitish Kumar who, predictably, retained the all-important home department which helps him keep direct control on the state police.
A sudden drop in atmospheric temperature and small earthquakes convinced seismologists to alert Assam government for a major earthquake in the near future.
The Muslim leadership striving for the recovery of the encroached Waqf property in Andhra Pradesh achieved a major success on Wednesday as the Andhra Pradesh Chief Minister Y S Rajasekhara Reddy returned 50 acres of prime land to the state Waqf board.
Bharadwaj said it has not rained in Delhi in the last 3-4 days, yet still the water level in Yamuna reached 208.66 metres.
Vodafone Idea (Vi) is in continuous talks with network vendors to finalise its 5G rollout plans, Vodafone Idea CEO Akshaya Moondra said. "We are in early stages of 5G deployment. "5G is an important development and we are keeping our eyes on it," Moondra said on Wednesday in a post-result analyst call. Already five months behind rivals Jio and Airtel in the 5G race, Vi's efforts will be on the deployment of 5G in target geographies.
Post handing over of Air India to the Tatas, government officials will be free to book their travel with any airline that offers them the best price. And, the Centre will not have a tie up with any carrier, department of investment and public asset management (DIPAM) secretary Tuhin Kanta Pandey said. "The government is not mandating travel by any particular airline, going forward, after handing over Air India because there won't be any state-owned airline," he said. The department of expenditure (DoE) will soon issue instructions to government departments for official travel as this needs to be done before handing over Air India to the new buyer, he said.
The revenue department is expected to release two circulars mentioning details of all 100 services under the service tax net and related procedures in a simplified manner by mid-June.
Companies are required to pay three-fourth of their annual tax liability in three instalments, by June 15, September 15 and December 15, depending on their annual profit projections. Advance tax payout is seen as a leading indicator of the performance of the company as it is based on its estimate of profit for the full year.
All the Shiv Sena rebels who had resigned as ministers of the previous MVA government to join the Shinde camp were inducted into the new cabinet on Tuesday.
Delhi Chief Minister Arvind Kejriwal on Wednesday urged the Centre to intervene to ensure that levels of the Yamuna, flowing at an all-time high of 207.55 metres, don't rise further.
Maharashtra Chief Minister Uddhav Thackeray has handed over portfolios of nine rebel ministers, who are currently camping in Guwahati, to other ministers.
Cyclone Biparjoy made landfall near Jakhau Port in Gujarat on Thursday evening with a wind speed of 115-125 kmph gusting to 140 kmph as heavy rains lashed the coastal region, where several areas plunged into darkness due to power cuts and a large number of trees, electric poles and hoardings got uprooted.
The Centre received 5.59 lakh public grievances against various government departments in the first half of this year, with the Department of Financial Services (DFS) getting most of such complaints, according to an official report.
All India Anna Dravida Munnetra Kazhagam (AIADMK) interim general secretary Edappadi K Palaniswami (EPS) and ousted party leader O Panneerselvam on Tuesday moved the Madras high court against the sealing of the party headquarters by the Tamil Nadu government following violence there on July 11.
The comments come at a time when the Supreme Court-constituted Special Investigation Team has detected funds worth about Rs 4,479 crore (Rs 44.79 billion) held by Indians in a Swiss branch of HSBC bank, while unaccounted wealth totalling Rs 14,958 crore (Rs 149.58 billion) have been traced within home.
Vishwajit Rane, who had unsuccessfully lobbied for the CM's post, has been given crucial Health and Town and Country Planning Portfolios along with Urban Development, Women and Child, and Forest departments.
Siddharth Gajbhiye, a relative of the victims, was a police patil, a civil appointee in villages who liaises with the local police and revenue department and was paid honorarium by the government.
Debt-ridden telecom operator Vodafone Idea on Tuesday approved the allotment of equity shares worth Rs 16,133 crore to the government, which post-allocation has become the largest shareholder with a 33.44 per cent stake in the company. The shares have been allocated to the government in lieu of conversion of interest dues arising from deferment of adjusted gross revenue and spectrum auction payments, the company said in a regulatory filing. "...it is hereby informed that the board of directors of the company has, at its meeting held today approved the allotment of 16,133,198,899 equity shares of face value of Rs 10 each at an issue price of Rs 10 per equity share aggregating to Rs 161,331,848,990 to the Department of Investment and Public Asset Management, Government of India," the filing said.
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From an idea inititated in a hostel room, Hearing Plus went on to become a national chain of hearing treatment clinics.
16% jump in unrealisable tax demands that are not under dispute.
On Friday evening, there was sharp spell of shower in Melbourne and repeat of this on Sunday could spell doom for cricket fans.
Three special economic zones promoted by Reliance Industries chairman Mukesh Ambani and his close aide Anand Jain in the same area have been listed for clearance on Friday.
The Supreme Court on Tuesday upheld the validity of two central laws and the corresponding rules that provide for a maximum tenure of five years for the directors of the CBI and Enforcement Directorate.
Two multi-product SEZ projects promoted by Reliance Industries' Chief Mukesh Ambani and the Tatas are among others that would come up for clearance at the meeting of the Board of Approvals in New Delhi on Thursday.
This decision will come as a relief to Essar's multi-product port-based SEZ project in Hazira as well as of Adani Group's zone in Mundra, which the revenue department felt was not built on vacant land when it was notified, and hence it had violated the law. Both the zones are in Gujarat.
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