The levy of retrospective tax on the UK's Cairn Energy Plc is a tale of bizarre twists and turns that saw its attached shares being sold in May 2018 amid the passing of the baton from a full-time finance minister to interim one and the talks at the highest level to resolve the dispute, to claims that levy of back taxes was a result of an investigation into Panama Papers leak. The government late last month refunded about Rs 7,900 crore it had collected from selling residual shares of the British firm in its erstwhile India unit, seizing dividend and withholding tax refunds, to settle an eight-year-old dispute that had tarred the country's reputation as an investment destination. But, this did not come about easily. For seven years, the establishment vehemently justified in courts and outside seeking of Rs 10,247 crore in back taxes plus interest and penalty from a firm that gave India its biggest onshore oil discovery.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The actor, who is celebrating her biggest year yet, glams up on Vogue's December 2019 cover.
Constable Priti Rani was among the hundreds of police personnel deployed for Adityanath's visit.
15 designers showcased their collections at the the Blenders Pride Fashion Tour.
In the last edition in 2014, India won 33 medals (3 gold, 14 silver, 16 bronze).
First-time buyers of cars and sport utility vehicles (SUVs) have made a comeback, shows last year's data from top passenger vehicle (PV) makers. If the trend persists, it may move the needle on the overall car penetration ratio. India's car penetration ratio is 32 per 1,000 people - one of the lowest, compared to mature car markets like the US and Europe.
Finance Minister Himanta Biswa Sarma added to the mystery by declaring only that the next CM would be from the BJP, without naming Sarbananda Sonowal, the CM of the outgoing government.
The first edition of News18 India's Saas Bahu Aur Devrani Stardom Awards was held in Mumbai.
The government is pushing the public sector behemoth ONGC to involve private sector companies and service providers wherever possible to help raise oil and gas production, Petroleum Secretary Tarun Kapoor said Thursday. Kapoor's comments came days after the second-highest ranked official in his ministry asked Oil and Natural Gas Corporation (ONGC) to give away a 60 per cent stake plus operating control in India's largest oil and gas producing fields of Mumbai High and Bassein to foreign companies. "ONGC has to explore more so that it can discover more oil and gas reserves and bring them quickly to production to raise domestic output. The government is very clear that ONGC has to do more," he told reporters.
The first-ever district development council (DDC) elections will be held in eight phases to elect 280 members in 20 districts from November 28 to December 22.
Internet services across Assam will remain suspended till December 16 to prevent alleged misuse of social media in disturbing peace and to maintain law and order in the state, officials said on Saturday.
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The iconic Times Square in New York City, reverberating with the chants of 'Vande Mataram' and 'Bharat Mata ki Jai', was on Sunday drenched in hues of saffron, white and green as the biggest Indian tricolour was unfurled at the popular destination to mark the 75th anniversary of India's Independence Day.
India, the world's third-largest energy consumer and importer, on Wednesday warned of high oil prices hurting the nascent and fragile global economic recovery and floated an idea of long-term supply contracts that provide predictable and stable pricing. Speaking at the India Energy Forum by CERAWeek, Oil Minister Hardeep Singh Puri said there was a mismatch between demand for oil and the supplies producers such as OPEC+ were making and there was a case for raising the production. The world, he said, needs "predictable, stable and affordable" prices for it to recover back to pre-pandemic levels.
The Central Bureau of Investigation also pointed out that it is probing the complaint filed by Rajput's father K K Singh against Chakraborty and her family members for allegedly abetting the 34-year-old actor's suicide.
In the first phase, most of the outdated regulations in the state and central Acts will be removed. Further, compliances with regard to annual inspections, licence renewal, and storage of multiple data will be eased.
'The overall death claims have gone up.'
Passenger vehicle market leaders Maruti Suzuki and Hyundai on Saturday reported a decline in wholesales in December 2021, although homegrown majors Tata Motors and Mahindra & Mahindra reported growth, amid semiconductor shortage continuing to impact production. Other manufacturers Nissan and Skoda also reported an increase in December 2021 sales although Honda Cars India witnessed a decline last month. The country's largest carmaker Maruti Suzuki India (MSI) reported a 4 per cent fall in wholesales to 153,149 units in December 2021 as against 160,226 units a year ago.
A Twitter user had claimed that he had filed an online complaint with the Delhi Police against Vishal Dadlani and Congress leader Tehseen Poonawalla.
'Personal income tax collections have been high on account of impressive advance tax mop-up.'
Market leader Maruti Suzuki is putting finishing touches to its plan of finding its feet in what is being hailed as a battle of epic proportions in India's fastest-growing passenger vehicle segment, reports Arindam Majumder.
As the world's third-largest oil importer and consumer, India is running out of options as the relentless surge in international oil prices make it imperative to pass them on to consumers, officials said on Monday. India imports 85 per cent of its crude oil needs and about half of its natural gas requirement. While the imported crude oil is turned into fuels such as petrol and diesel, gas is used as CNG in automobiles and fuel in factories.
The stunning actress closed the show for Tarun Tahiliani at Lakme Fashion Week.
Stressing that economic growth will only move upwards, the Reserve Bank of India Governor Shaktikanta Das on Friday pegged the GDP growth rate for the next financial year at 10.5 per cent, though a tad lower than the government's projection of 11 per cent. The projection is in line with the estimates in the Union Budget 2021-22 presented in Parliament earlier this week. The Economic Survey, tabled by the government in Parliament recently, has projected that the economy will grow at 11 per cent, up from an estimated historic decline of 7.7 per cent in 2020-21, on account of the COVID-19 pandemic.
In a rare face off, captains of the auto industry have hit out at the government for not walking the talk. At an industry event in the capital on Wednesday, R C Bhargava, chairman of India's largest carmaker Maruti Suzuki, and Venu Srinivasan, chairman of TVS Motor, questioned the government's intent to support the auto sector. Revenue secretary Tarun Bajaj sat in the audience listening, before his turn came to counter them.
Justice S C Gupte issued a notice to Tejpal and posted for June 24 the appeal filed by the Goa government against the sessions court's order acquitting him in the case.
Company managements need to "curtail the kind of expenditures on themselves personally" with the COVID-19 pandemic highlighting the need to build internal resources with a frugal style of functioning, Maruti Suzuki India chairman R C Bhargava said on Tuesday. Addressing shareholders in the company's annual general meeting held virtually, he also termed as "a good development for the whole of industry" recent shareholder actions that did not approve expenditures by management on themselves, without specifying details. In the wake of the pandemic, building internal resources has to become a priority of industry and companies.
The government on Wednesday asked the Reserve Bank to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side for another five-year period ending March 2026. To control the price rise, the government in 2016 gave a mandate to the RBI to keep the retail inflation at 4 per cent with a margin of 2 per cent on either side for a five-year period ending March 31, 2021.
At a time when crude oil and natural gas prices are sky-high, public sector behemoth ONGC's haphazard planning and mismanagement in developing showpiece deep-sea KG-D5 block is costing the nation over Rs 18,000 crores due to the delayed output of oil and gas, government officials said. ONGC was originally to start gas production from the Cluster-II fields in block KG-DWN-98/2 (KG-D5) in June 2019 and the first oil was to flow in March 2020. But these targets were quietly shifted to end-2021 because of deferments in awarding the fragmented work packages of the project, two officials with direct knowledge of the matter said on condition of anonymity.
Assam's outgoing Chief Minister Tarun Gogoi on Friday tendered his resignation to Governor P B Acharya following Congress' defeat in the just-concluded assembly polls.
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Taking the matter seriously, the Bharatiya Janata Party government on Wednesday night transferred collector S Vishwnathan, SP Nayak and IG Rajababu Singh.
Addressing the party's national executive, Nadda also reached out to Sikhs, who are in majority in poll-bound Punjab, by listing a number of measures the Modi government has taken for the community, including expediting action against 1984 riots accused, facilitating foreign grants to gurudwaras and keeping langars outside the review of the Goods and Services Tax.
Addressing Bharatiya Janata Party MPs at an event to mark the 53rd death anniversary of Deendayal Upadhyay, a party ideologue who had founded its progenitor Jana Sangh, Modi said the saffron party always puts "rashtraneeti" above "rajneeti" and gives respect to even its political rivals.
'Today, as a film personality, he is bigger than Dharma Productions.' 'But he is still warm and loyal to his friends from school, college and work.'
Finance Minister Nirmala Sitharaman on Tuesday reviewed with Infosys officials the technical glitches that continue to mar the new income tax e-filing portal. Sitharaman, along with Minister of State for Finance Anurag Thakur, revenue secretary Tarun Bajaj, CBDT chairman Jagannath Mohapatra and other senior ministry officials, went point by point on the issues facing the new portal with officials of Infosys - the vendor which developed the site. While there was no official word on what transpired at the meeting, a statement issued by the Institute of Chartered Accountants of India (ICAI) said "the technical glitches shall be addressed fast". ICAI representatives attended the meeting on Tuesday.
