'Once filed, it cannot be revised or rectified.'
Aakash Educational Services (AESL) has accused EY of conflict of interest and breach of professional conduct in its ongoing dispute involving Byju's. It has also asked EY to disclose all documents, information, or communication it was privy to, in relation to transactions involving AESL.
The stock and bond markets told Trump firmly that any idea of isolating China would lead to harming the US economy and this forced Trump to backtrack, points out Aakar Patel.
The net direct tax collection so far this fiscal rose 19.41 per cent to Rs 14.70 lakh crore, reaching about 81 per cent of the full-year target, the income tax department said on Thursday. "The provisional figures of Direct Tax collections up to January 10, 2024, continue to register steady growth," the Central Board of Direct Taxes (CBDT) said in a statement. Direct Tax collection, net of refunds, stood at Rs 14.70 lakh crore which is 19.41 per cent higher than the net collection for the corresponding period of last year.
Targets should avoid panicking and hang up. 'Disconnecting stops the scammers from building psychological pressure.'
India is well-positioned to deal with the negative effects of US tariffs and global trade disruptions as domestic growth drivers and low dependence on exports anchor the economy, Moody's Ratings said on Wednesday.
Finding solutions to address non-tariff barriers would be important for the proposed free trade agreement (FTA) between India and the European Union (EU) and both sides are actively working on resolving these issues, Commerce and Industry Minister Piyush Goyal said on Thursday. He said the two sides are "pretty" close to finalising the talks for the proposed free trade pact.
'Increasingly, they treat gold as a financial asset in their portfolio rather than just as jewellery.'
Municipal corporations penalise late property tax payments. 'Penalties can include attachment of properties, bank accounts, rent and other movable assets," says Anand Moorthy, co-founder, Square Yards.
India and the UK on Thursday inked a landmark free trade agreement (FTA) that will cut tariffs on British whisky, cars and an array of items, besides boosting bilateral trade by around $34 billion annually.
'India is a very strategic geography. The business is growing over 37-38 per cent year-on-year.'
The dispute between Aakash Educational Services Ltd (AESL) and edtech firm Byju's has escalated, with Aakash filing a sharply worded petition before the National Company Law Tribunal (NCLT) in Bengaluru, alleging conflict of interest and professional misconduct by global consulting firm Ernst & Young (EY), according to court filings
The revised guidelines are aimed at curbing discretionary practices by field officers, especially the tendency to seek documents not mandated under the law.
Here is a list of Q & As to explain these issues and implications of the US move.
Taking both direct and indirect taxes, the gross collection is expected to grow 10.45 per cent to Rs 33.61 trillion in 2023-2024.
There are challenges galore before him, and it is not going to be easy. In the next four years, he has to conjure a system that changes the optics about him and the BJP both nationally and internationally so that he can ride back on his own, claim the top slot, and not have to lean on a coalition, asserts Ramesh Menon as Modi 3.0 completes a year in power.
96 per cent is being collected through TDS, advance tax, self-assessment tax, and other receipts.
Trump may temper his approach from time to time, but to think that he will change his basic philosophy is delusional, asserts T T Ram Mohan.
'We need to be very vigilant as we are passing through some fraught times.'
The finance minister clarified that indexation benefits offered until April 1, 2001 would be protected. This means older properties, including legacy assets, would benefit.
Digipin promises to revolutionise location-based services in India with safeguards.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
This is important because he is to be seen as a sure winner before criss-crossing the state to campaign for candidates of the party or an alliance, highlights N Sathiya Moorthy.
Failure to disclose any income can lead to penalties and legal issues.
The gross GST collection rose 7.3 per cent year-on-year to Rs 1.77 lakh crore in December. The Central GST collection stood at Rs 32,836 crore, State GST at Rs 40,499 crore, Integrated IGST at Rs 47,783 crore and Cess at Rs 11,471 crore, according to government data released on Wednesday.
It is important to have the necessary documents on hand to verify the information in the form.
Foreign investors withdrew Rs 10,355 crore from the country's equity markets in the last four trading sessions this month due to sweeping tariffs imposed by the US on most nations, including India. The outflow occurred after a net investment of Rs 30,927 crore in the six trading sessions from March 21 to March 28. This infusion helped reduce the overall outflow for March to Rs 3,973 crore, according to data from the depositories.
Salaried persons whose liability is fully deducted as tax deducted at source by their employer need not worry about advance tax payments, unless they have other sources of taxable income.
India's hospitality sector is rolling out the red carpet for investors. A flurry of upcoming IPOs, or initial public offerings, the entry of new players, and ambitious expansion plans by Indian and global hotel brands are ushering in what could be the industry's most formalised era yet. Leading the charge are real estate titans, who are turning their hotel arms into global hospitality chains.
The central government's fiscal deficit during 2023-24 at 5.6 per cent of the GDP was better than previous estimates of 5.8 per cent on account of higher revenue realisation and lower expenditure, according to official data released on Friday. In actual terms, the fiscal deficit -- or gap between expenditure and revenue -- was Rs 16.53 lakh crore, or 5.63 per cent of the GDP, which grew 8.2 per cent in 2023-24.
Filling of Rs 100 and Rs 200 notes result in faster depletion and more frequent cash replenishment. This will cost banks and managed service providers more.
Taking possession without an OC can lead to legal complications, denial of utilities such as water and electricity, hurdles in availing home loans or reselling the property, and even eviction.
Issues related to the proposed free trade agreement (FTA) and bilateral investment treaty between India and the UK are expected to figure during the three-day visit of Finance Minister Nirmala Sitharaman to London from April 8-10, official sources said. The minister will attend a host of meetings, including the India-United Kingdom Economic and Financial Dialogue, in London.
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
March 31 marked 10 years since the Modi government introduced its first Foreign Trade Policy (FTP 2015-20) that lasted for 8 years before the current FTP 2023 came in. Here is a brief assessment. In 2015, the government said that it aims to increase India's exports of merchandise and services from $465.9 billion in 2013-14 to approximately $900 billion by 2019-20 and to raise India's share in world exports from 2 per cent to 3.5 per cent.
The bill to nullify retrospective taxation offers a fair solution within the framework of Indian law and Parliamentary sovereignty to companies which have been subjected to such demands, Finance Secretary T V Somanathan said on Thursday. Finance Minister Nirmala Sitharaman introduced 'The Taxation Laws (Amendment) Bill, 2021' in the Lok Sabha that seeks to withdraw tax demands made using a 2012 retrospective legislation to tax the indirect transfer of Indian assets. The Bill provides for the withdrawal of tax demand made on "indirect transfer of Indian assets if the transaction was undertaken before May 28, 2012 (i.e. the day the retrospective tax legislation came into being)."
Several changes were made to the new income-tax regime in Budget 2023. The old income-tax regime was not tinkered with and is still available.
The trade war between the US and China is expected to benefit Indian exporters in increasing their shipments to the American market, sources said. They said the country was the fourth-largest gainer when the US imposed higher duties on Chinese goods during US President Donald Trump's first tenure.
Anticipating US action on tariffs, India seems to have made the first move by revamping its tariff structure by reducing the slabs to eight rates, points out Mukesh Butani.
The Union Budget 2025-26, while promising a new framework for smoother mergers and acquisitions (M&As), has plugged a major loophole on carry-forward losses for a total of eight assessment years between amalgamating company and amalgamated company from the date of loss instead of date of the merger. For all mergers effected on or after April 1, 2025, the losses can be carried forward only for the residuary period (counting from the date of loss).
