In a setback to megastar Amitabh Bachchan, the Supreme Court on Wednesday allowed the Income Tax department to reopen a tax case against him pertaining to his income for the assessment year 2001-02.
'That would once and for all teach all the film-makers of this country a fitting lesson!'
Priorities include the amendments of the Companies Act and the Motor Vehicle Act
"Have you (counsel for the petitioner) seen the film? Have the people, who are burning cinema halls seen the film? By this kind of petitions you are encouraging the people who are agitating," the bench observed.
The tax department is on a spree to ensure more taxpayers in the country use the PAN card.
It would be a good idea to create independent oversight committees for each regulatory institution and indeed, even for their appellate bodies, says A K Bhattacharya.
Jio had launched the inaugural free voice and data plan in September last year, and in December, extended the freebies till March 31, 2017
The scheme offers waiver of interest, penalty, and prosecution for settling tax disputes.
The issue dates back many years when the actor and others proposed bringing Sony TV channel to India.
Jio's revenue increase was phenomenal in many circles: In Haryana, the RMS gain was 13 percentage points; in Bihar, 20 percentage points; in Odisha, 15 percentage points; and in Assam, 11 percentage points. However, incumbent telcos said this increase was only in three quarters, and it happened because of an order by the Telecom Regulatory Authority of India, which tweaked the definition of significant market player (SMP) for predatory pricing.
Google has also come under the scanner of competition watchdogs in other countries as well.
While Waryam Singh was a non-executive director at HDIL, he is listed as one of the promoters of the company and had relations, including shareholding, with several other entities controlled by the Wadhawans, the HDIL founders.
If you are merely letting out the property and enjoying the rent as an individual or as a company, in most cases, you will need to mention rental income under the head 'income from house property' in the income-tax return form, points out Tinesh Bhasin.
The capital markets watchdog had set up an expert panel in March to suggest new measures to regulate insider trading.
The code will apply to companies, partnerships, limited liability partnerships, individuals and any other body specified by the government
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
Lawyers representing govt point out that telcos, because of the large money they can save if they get a favourable judgement, prefer to fight till all legal options are exhausted
During a series of hectic talks between Cairn Energy and the Indian government over the $1.2-billion arbitration award in favour of the former last week, a slew of options was proposed by the two sides, including computation of capital gains and participation in the Vivad se Vishwas (VsV) dispute resolution scheme. The government is likely to go ahead and appeal against the arbitration award by a Permanent Court of Arbitration at The Hague before March 21, indicated finance ministry officials. Cairn Energy Plc on Sunday said it was hopeful that an acceptable solution to its tax dispute with the Indian government could be found to avoid prolonging and exacerbating the 'negative issue' for all parties.
Telecom operators Vodafone and Idea Cellular on Monday said they will resume 3G services in circles where they don't have spectrum through intra-circle roaming (ICR) pacts with other operators.
Rivals say the concessions would benefit AirAsia alone.
If advance tax revenue fails to meet the expected growth, these PSUs could be asked to pay taxes on past demands raised against them.
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Former Air India Executive Director Jitender Bhargava filed the appeal challenging the decision of the Competition Commission of India to clear the Jet-Etihad deal without carrying out a detailed assessment.
The auditors -- the local arms of the Big Four global firms Deloitte Haskins & Sells and KPMG which has BSR & Associates as an affiliate here-had challenged the jurisdiction of the NCLT to ban them.
Insolvency and Bankruptcy Code bound stocks have witnessed a steep fall in 2018.
CPRL Board may meet this week to decide if the outlets in the north and east of India can be kept open till the matter is settled in courts
Dera Saccha Sauda chief Gurmeet Ram Rahim Singh on Friday said he was unaware of the reasons behind Central Board of Film Certification chairperson Leela Samson's resignation, adding that those protesting against his movie Messenger of God have not seen it yet.
Amidst reports that controversial film "Messenger of God" featuring Dera Saccha Sauda chief Gurmeet Ram Rahim Singh in lead role has been cleared by Film Certification Appellate Tribunal, Censor Board chief Leela Samson on Thursday night said she has decided to resign.
The apex court said Ambani and the others will have to purge contempt by paying Rs 453 crore to Ericsson in four weeks. A bench comprising Justices R F Nariman and Vineet Saran said if the 'contemnors' failed to make the payments within the specified period, they will undergo a jail term of three months.
"The underlining theme with which we have been working till now is that we trust the taxpayers and from purely an enforcement agency, we are shifting our focus to being a service-oriented department," says CBDT chairman Pramod Chandra Mody.
'Under this government, tax laws have become more draconian, and the government itself is setting stiff, unrealistic targets for tax officials, who have got more powers to harass us,' points out Debashis Basu.
Experts say that under the liquidation process, financial and operational creditors are less likely to recover the full-value of their dues, while employees may not get their full salaries.
The new provision under the Income-Tax Act may enable the authorities to seize trustees' personal assets if there's a breach of objectives governing registered charitable trusts.
Jailed former Tamil Nadu Chief Minister J Jayalalithaa, denied bail by Karnataka high court following her conviction and four year sentence in a graft case, on Thursday moved the Supreme Court for bail.
To decide whether capital gains on surrender of call options are taxable
With real estate valuations falling and other deals coming unstuck, the current management's improved target faces significant challenges.
The ED has now seized the property, agency sources said.
Ruchi Soya was admitted to the corporate insolvency resolution process (CIRP) in December 2017 and owes lenders Rs 12,000 crore.
In the aftermath of the Karvy incident, lending against third-party collateral facility raises questions over regulations concerning banks and brokers which are at loggerheads. While Sebi and NSDL have ordered the transfer of securities, which were kept as collateral, lenders followed the old business model of sanctioning loan against shares and allegedly overlooked certain parameters. Legal experts feel that this could lead to a collapse of the loan-against-shares market as it raises questions over the sanctity of the pledged securities.
The decision was taken on October 3.
The Committee will 'examine the assessment orders, appellate orders and scrutiny report for the appeal to the ITAT related to orders. . . and give its recommendations for different income groups, separately for corporate and non- corporate assesses", CBDT said.
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