rediffGURU Mihir Tanna answers your income tax queries.
India has a huge untapped population which doesn't have facilities for financial aid and insurance, and it is perhaps plausible to look at the option of having niche players catering to smaller sectors akin to non-banks and microfinance institutions in lending, said Rakesh Joshi, member (Finance & Investment), Insurance Regulatory and Development Authority of India (Irdai). Speaking at the Business Standard BFSI Insight Summit, Joshi said, "Today, most of our insurance companies operate at a national level. There is arguably a case for having differentiated operations, which cater to niche sectors the same way we have non-banking financial companies (NBFC) and microfinance institutions in lending." "The capital requirement for niche players may not be as large as those having national ambitions. "Enabling these niche players, which require lower capital, will enhance the penetration in areas which hitherto had not seen traction from large players," he said.
The prohibitory order, issued by a senior police official, says restrictions on movement of residents for non-essential work will remain in force till July 15.
The Pune-based Gennova Biopharmaceuticals has submitted phase 2 data of mRNA vaccine and has also completed the recruitment of phase 3 data.
India's apex drug regulator has granted permission for conducting the phase II/III clinical trial of Bharat Biotech's Covaxin COVID-19 vaccine in the age group of 2 to 18 years, the Union Health Ministry said on Thursday.
Officials said most of the preparations are complete and the counting will start at 8 am on Saturday.
'Comparing the rates of interest with PSU banks, the three- and five-year time deposit rates of the post office are more favourable.'
A Trinamool Congress legislator on Sunday threatened to not support any bill tabled by the government in the West Bengal Assembly in the future and abstain from voting in the upcoming Rajya Sabha polls in the state if 'atrocities' on his loyalists allegedly by a rival faction continued, even as the Bharatiya Janata Party said the collapse of the Mamata Banerjee government was just a matter of time.
The Maharashtra State Election Commission on Friday said polls to local bodies from other backward class reserved constituencies, which were scheduled on December 21, will now be held on January 18 and these seats will be converted as general category ones.
Pfizer sought to participate in the Subject Expert Committee consultations towards an emergency use authorisation for its Covid-19 vaccine. However, the company representatives have been unable to participate in the meetings because of extremely short notices of a few hours or less and time-zone limitations.
In a major move aimed at encouraging small investors to become direct investors in government bonds or stated simply to an infinite source of lending to the government, the Reserve Bank on Friday said it will allow them to directly buy government debt, making India the first Asian country to do so and among a handful globally.
The orders under Section 144, Code of Criminal Procedure (CrPC), will remain in force for a month in Kishtwar and for 15 days in Ramban district of Jammu, an official spokesperson said on Saturday. In Bihar, the administration imposed Section 144 of CrPC in Sheohar, Banka, Gopalganj and Samastipur districts on Saturday.
Olympic champion Neeraj Chopra, who had pulled out of two top events -- FBK Games in the Netherlands and Paavo Nurmi Games in Finland -- due to a muscle strain he sustained last month, has started training but is yet to recover fully.
In a significant verdict, the Supreme Court on Friday held that a person employed with the government cannot work as state election commissioners (SECs) and came down on the Goa government for giving its law secretary the additional charge of the SEC.
Another Kambala racer has created a record in the 100 metres during the traditional buffalo race in Karnataka, covering the distance in 9.51 seconds, and improving on the timing of Srinivas Gowda, who stirred up a social media frenzy with his recent running exploits. Nishant Shetty from Bajagoli Jogibettu is the new jockey who broke 28-year-old Gowda's record at the Venoor Kambala on Sunday, organisers said.
The first of the two-phase urban local body polls in Uttar Pradesh will take place on Thursday, a major poll battle in the politically crucial state ahead of the 2024 parliamentary elections.
While Lupin is working on a Remdesivir powder for inhalation, Glenmark has tied up with a Canadian Biotech firm for nitric oxide nasal spray that reduces Sars-CoV-2 viral load and thus transmission.
The prohibitory orders would be in force till September 8, a senior police officer told PTI.
Former Mumbai Police Commissioner Sanjay Pandey appeared before the Enforcement Directorate (ED) in Delhi for the second day on Tuesday for questioning in a money laundering case linked to the alleged illegal phone tapping of NSE employees, officials said. This is the second consecutive day that the retired Indian Police Service (IPS) officer is being questioned by the federal probe agency in this case. Like Monday, the officer will continue to reply to questions on the business and operations of a firm floated by him for security audit of the National Stock Exchange (NSE) and his statement will be recorded under the Prevention of Money Laundering Act, they said.
Ahmedabad-based Zydus Cadila, Bharat Biotech's intra-nasal candidate are among the candidates who got approval from the expert panel to conduct clinical trials, Sohini Das reports.
A Delhi court on Wednesday sent former MD and CEO of National Stock Exchange Ravi Narain to two days' custodial interrogation by Enforcement Directorate in a money laundering case related to alleged illegal phone tapping and snooping on stock exchange employees. Special Judge Sunena Sharma allowed ED's plea seeking Narain's custody till September 9 after the accused was produced before him by the probe agency. ED's Special Public Prosecutor N K Matta told the court that Narain was required to be confronted with other accused persons and evidence in the matter to unearth the larger conspiracy in the matter.
The CBI action comes following a complaint from the Union home ministry.
The Madras high court on Wednesday set aside the proceedings of the Tamil Nadu revenue department locking and sealing the All India Anna Dravida Munnetra Kazhagam headquarters in Chennai following the July 11 violence, and directed that the keys of the office be handed over to party chief K Palaniswami.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The approval by the Drugs Controller General of India comes following recommendations by the Subject Expert Committee on COVID-19 of the Central Drugs Standard Control Organisation.
Section 144 of the CrPC prohibits an assembly of more than four persons in an area.
An expert committee of the Central Drugs Standard Control Organisation (CDSCO) on Wednesday sought additional safety and efficacy data for COVID-19 vaccine candidates of Serum Institute and Bharat Biotech, after deliberating upon their applications seeking emergency use authorisation for the shots, official sources said.
The cost of debt-funds for the states has touched the highest level so far this fiscal with the weighted average cut-off crossing the 7.16 percentage points at the latest auctions, up 11 bps over the past week, reflecting the hardening yields even for the government securities. The hardening of the rates at the first auction of the quarter comes in the wake of the expected large supply of debt from the states, as indicated for Q4 at Rs 3.2 lakh crore, up by Rs 10,000 crore. Nine states on Tuesday raised Rs 18,900 crore at the latest auction of state development loans.
Reasi district of Jammu region recorded 75.20 per cent voting, the highest in the union territory, State Election Commissioner (SEC) K K Sharma said, adding that 50.53 per cent voter turnout was recorded in the third phase of the maiden DDC polls in J-K.
Be wary of co-operative banks which have historically been most vulnerable.
The Delhi high court on Thursday granted bail to Chitra Ramkrishna in the money laundering case related to alleged illegal phone tapping and snooping of the National Stock Exchange (NSE) employees, saying prima facie there are reasonable grounds to believe she is not guilty. Justice Jasmeet Singh granted bail to the former NSE managing director on a personal bond of Rs one lakh and two sureties of the like amount. "Prima facie there are reasonable grounds to believe that the applicant is not guilty of the offence and she is not likely to commit any offence while on bail...the application is allowed and the applicant is granted bail," the court said.
Polls to 108 municipalities of West Bengal will be held on February 27, the State Election Commission said in its notification on Thursday, setting the stage for yet another contest for the ruling Trinamool Congress and the opposition Bharatiya Janata Party, nine months after the assembly polls.
The prime minister will address a public meeting after inaugurating AIIMS in Bilaspur and participate in the famous Kullu Dussehra celebrations during his visit to the state.
After successfully fighting for the decriminalisation of Section 377, lawyers Arundhati Katju and Menaka Guruswamy have now decided to fight for legalisation of gay marriage in India, through The Marriage Project.
The action was taken under Section 69A of the Act that empowers the government to block any information generated, transmitted, received, stored or hosted in any computer resource in the interest of sovereignty and integrity of India, defence of India, security of the state, friendly relations with foreign states or public order or for preventing incitement to the commission of any cognisable offence.
Instead of only focusing on the tenure for which the best interest rate is available, investors should also focus on their own investment horizon.
According to the order, there will be a ban on the use of drone and no shop will sell them without prior information.
An expert panel of India's central drug authority on Wednesday recommended granting regular market approval to COVID vaccines Covishield and Covaxin for use in adult population subject to certain conditions, official sources said.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
NCP workers had staged protests in Mumbai earlier when the ED named Sharad Pawar in the case.
