Non-compliance, underreporting or misreporting will attract a penalty of 50-200 per cent. The authorities may during assessment even tax assets that are 15-20 years old
Supreme Court judge Justice Rohinton Fali Nariman on Monday recused himself from hearing liquor baron Vijay Mallya's petition against the confiscation of his properties by the Enforcement Directorate.
The BJP has 17 out of 53 candidates (32 per cent) with criminal cases. The Congress has 11 out of 39 (28 per cent) candidates with criminal cases.
The action comes days after the CBI registered an FIR in the country's biggest alleged bank loan fraud case till date.
Bajaj Auto has amended its dividend distribution policy as it seeks to reward its shareholders and boost return ratios. The amended policy will also consider the surplus the company has when calculating the dividend payout as a percentage of profits after tax, the Pune-based firm said in a stock exchange filing on Thursday.
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
The so-called soil scam has left Lalu alone in the Mahagathbandhan.
In the newly elected Rajasthan Legislative assembly, 145 out of the 199 members of Legislative Assembly are crorepatis. In a report by the Association for Democratic Reforms, it is stated that the crorepati percentage in the Rajasthan Assembly is 73 per cent.
Abdullah said if the gap between the communities is to be bridged, the hateful campaigns like The Kashmir Files film and incessant Hindu-Muslim debates on the media have to be stopped.
'If a stranger refuses to pet my Russian dog, what treatment can I expect for myself?'
The EPS camp believes that the BJP was already arm-twisting the AIADMK into conceding more seats in the 2024 Lok Sabha elections 'than they deserve' observes N Sathiya Moorthy.
Real estate developer Supertech on Friday was declared bankrupt by the National Company Law Tribunal (NCLT), a move that could have a bearing on 25,000 home buyers of the firm's ongoing projects in the Delhi and NCR region. Acting on a petition filed by the Union Bank of India for non-payment of around Rs 432 crore worth dues, the bankruptcy court ordered the initiation of insolvency proceedings against real estate firm Supertech Ltd, one of the companies of Supertech group. The NCLT said "there has been a default in payment of the financial debt" and appointed Hitesh Goyal as the Interim Resolution Professional (IRP) superseding the board of Supertech Ltd.
Shareholders of Reliance Industries have approved the appointment of Saudi Aramco Chairman Yasir Al-Rumayyan on the company board, with less than 2 per cent of votes cast against the proposal. Disclosing the results of shareholder votes on the appointment, Reliance in a regulatory filing said 98.03 per cent of votes were cast in favour of the resolution to appoint Al-Rumayyan for three years. As many as 10.89 crore shares or 1.96 per cent voted against the resolution, while 3.23 crore votes were declared invalid due to lack of proper authorisation, it said.
The National Election Watch and Association for Democratic Reforms have analysed the affidavits of 165 MPs who were elected again in the 2014 Lok Sabha elections.
The NDA government will be following the footsteps of its predecessor, the UPA, which had introduced the concept of "loan mela" to boost credit by directing banks to lend to people through public meetings.
Kumar's son Nishant possess both movable and immovable assets of Rs 2.36 crore which is a little more than four times than what his father owns.
Karnataka goes to polls in about a fortnight and the Bharatiya Janata Party and the Congress is going toe-to-toe to win the elections, results of which will be announced on May 15. Here's a simple guide to all things about the Karnataka polls.
Aam Aadmi Party's chief ministerial candidate Bhagwant Mann too questioned separately Gandhi's description of Channi as belonging to 'gareeb ghar', asking 'from which angle, is he poor'.
The ten richest among the 199 candidates in fray in the first phase of polling for Jharkhand assembly belong to Palamau division, according to an NGO involved in election watch.
A total of 635 declarants have filed declarations declaring undisclosed foreign assets worth Rs 4,160 crore.
The CBI has filed a fresh case against absconding diamantaire Mehul Choksi, wanted along with his nephew Nirav Modi in a loan fraud case of Rs 13,500 crore, for allegedly inflating the value of diamonds and jewellery pledged to get Rs 25 crore loan from IFCI, officials said on Monday. The CBI has booked Mehul Choksi, his company Gitanjali Gems and valuers Surajmal Lallu Bhai and Co, Narendra Jhaveri, Pradip C Shah and Shrenik Shah, they said. The central agency has acted on a complaint from Industrial Finance Corporation of India (IFCI) Ltd alleging that Choksi had approached it in 2016 seeking Rs 25 crore working capital loan for which he had pledged shares and gold and diamond jewellery.
Air India has asked a New York court to dismiss a petition filed by Britain's Cairn Energy for seizure of its assets to enforce $1.2 billion arbitral awards against the Indian government, saying the litigation was premature as an appeal against the arbitration award was still pending. The petition by the airline, which is separate to Indian government's plea in a Washington court seeking dismissal of Cairn's lawsuit to seek confirmation of the arbitral award, said the New York district court lacks jurisdiction to adjudicate a "mere hypothetical question" or one that depends upon contingent future events that may or may not occur. Cairn first moved a court in the US District Court for the District of Columbia seeking confirmation of the arbitration award and then filed a petition in the New York court to seek declaration of Air India as "alter ego" of the Indian government and so it should be made liable to pay the $1.26 billion arbitral award.
The chairman of the Essel Group says he has settled 91.2 per cent of the estimated Rs 11,000 crore debt on the group's books.
Marking a key milestone in the Indian government's fight against black money allegedly stashed abroad, India will get this month the complete information on flats, apartments and condominiums owned by Indians in Switzerland as also on earnings made from such properties to help it look into tax liabilities associated with those assets.
The average asset of a Rajya Sabha Member of Parliament is Rs 20.17 crore, says a report by the Association for Democratic Reforms. It also says that 67 per cent of Rajya Sabha MP's are crorepatis.
The Shiv Sena is leading currently in terms of criminal candidates. Out of the 14 declared by them in the first list 12 have a criminal background, as per the Association for Democratic Reforms.
How much will the banks' bad assets grow in March? It could be anywhere between Rs 1.2 trillion and Rs 2 trillion, observes Tamal Bandyopadhyay.
Incidentally, Pannerselvam's call for unity also pertained to deposed AIADMK leader VK Sasikala and her nephew TTV Dhinakaran.
24% claim exemption from income tax or say they have no income at all, discovers Manoj K.
Newly-elected Conservative Party leader and prime minister in waiting Liz Truss is among the senior British politicians known for championing deeper India-UK strategic and economic ties, describing them as a "sweet spot" of global trade dynamics.
Notification, FAQs likely after FM Jaitley returns from the US
As per the election affidavit of Dr Harsh Vardhan of the Bharatiya Janata Party, which is listed on the Election Commission of India website, a first information report (number 519/2013, in Madhu Vihar police station) has been filed against him under Sections 34, 323, 509 and 506 of the Indian Penal Code.
An Association of Democratic Reforms report states that 161 out of 230 MLAs in the newly-formed Madhya Pradesh Vidhan Sabha are crorepatis, while 73 MLAs have criminal cases filed against them.
Out of the 167 candidates, 54 are crorepatis. Manipur Election Watch and Association for Democratic Reforms ADR said.
Last week, the government had introduced the black money Bill.
A sixth bowler, preferably seam or pace option, has been India's major headache for past two and half years due to Pandya's injury and now the team management is "excited" looking at what Venkatesh brings to the table with his multiple skill-sets.
A latest survey by the Association for Democratic Reforms reveals that 14 criminals and 50 crorepatis will be contesting the upcoming Rajya Sabha elections.
Since arraignment under money laundering is a tougher offence, the CBDT hopes it will also overcome its dismal score sheet to prove satisfactorily to the courts that these cases were genuine ones of tax evasion.
Suvendu Adhikari, the Bharatiya Janata Party candidate against Mamata Banerjee in Nandigram, Monday said he has sought rejection of the nomination of the West Bengal chief minister for not declaring six criminal cases against her while filing her papers.
Collectively, the pack of 12 has posted a 50 per cent rise in profits -- Rs 25,685 crore. On a quarter-on-quarter basis (that is, September over June), the rise is 68 per cent. Public sector banks have never had such a stellar performance, explains Tamal Bandyopadhyay.
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