Compliance window for those with undisclosed income abroad to come clean by paying 30 per cent tax and 30 per cent penalty
With filing possible only online, there is no scope for any error.
Clever wordplay does not change the fact that the government is going pretty easy on some tax offenders, says Arup Roychoudhury.
The valuables include polished diamonds, pearls and silver jewellery and are worth Rs 1,350 crore.
India Inc's quarterly net profit reached a record high of Rs 1.64 trillion in the third quarter ended December 31, 2020, mainly due to gains from higher commodity prices and a big swing in banks' earnings. The combined net profit of 3,323 listed companies that have declared results so far was up 68.6 per cent year-on-year (YoY). In comparison, earnings were up six times (534 per cent) in the second quarter and 6.5 per cent in the corresponding period last year.
Rs 2.06 trillion, is the gross non-performing assets of Indian banks.
Siddaramaiah's dramatic gesture came when the House reassembled after two adjournments with the BJP and the JDS persisting with their demand for a discussion on the issue.
India has got the second set of Swiss bank account details of its nationals and entities under the automatic exchange of information pact with Switzerland, marking a key milestone in the government's fight against black money allegedly stashed abroad.
The official liquidator said it would be in public interest that these properties are restored to him so that the interest of all creditors, including the applicant banks, can be "safeguarded".
After being questioned about his wealth in the wake of Anna Hazare's anti-corruption movement, the Telugu Desam Party President and former Andhra Pradesh chief minister Chandrababu Naidu on Friday declared his assets and those of his family members.
The government is drawing up a relief package for industry with steps such as relaxation of asset-classification norms by banks, thus allowing companies to delay the repayment of loans, and tax holidays for the worst-hit sectors like aviation and hospitality. But it might not be enough to stop more bankruptcies from getting filed.
If there is a morality tale here, it is that debt and death spare no king.
If the first phase of Gujarat election will have 147 crorepatis in fray, the second will see another 150 contesting, says National Election Watch
If Mallya does not appear before the court, he risks being declared a fugitive economic offender, besides properties linked to him being confiscated.
Janata Dal-Secular Karnataka unit President and former chief minister H D Kumaraswamy and his wife Anita, contesting the May 5 Assembly elections, have together declared assets worth Rs 123 crore.
According to experts, declarations can be made with regard to capital gains or business income, which have escaped assessment
Seeking ArcelorMittal be declared ineligible to bid for Essar Steel, the petition cited Section 29A of the Insolvency and Bankruptcy Code which bars promoters of defaulting companies from bidding for stressed assets.
A Bill proposing to prosecute those stashing illicit wealth abroad with 10 year rigorous imprisonment is on cards.
While law-abiding customers are harassed for KYC and have to comply with endless paperwork even to open and close accounts, DHFL could easily open nearly 260,000 fake home-loan accounts, reveals Debashis Basu.
All India Anna Dravida Munnetra Kazhagam supremo Jayalalithaa has declared assets valued at Rs 51 crore, both movable and immovable, in her election affidavit.
On its own or with allies the Congress has a strong presence in states that account for a total of 253 LS seats, or 20 short of the magic figure of 272 required to form a government at the Centre. So what is Mamata Banerjee talking about, asks N Sathiya Moorthy.
The income of these parties from "unknown" sources was Rs 689.44 crore, which is 53 per cent of their total income.
42 of the candidates contesting in the second phase of the Chhattisgarh assembly election have declared assets of over Rs.1 crore, statistics released by the Chhattisgarh Election Watch reveal.
Lok Sabha Speaker Sumitra Mahajan came down heavily on Congress leaders for "persistently and willfully obstructing the House" and suspended them for 5 days. The members who have been punished include a president's son, ex-chief ministers' sons and an ex-CM's grandson. Rediff.com brings you the complete list.
The tribunal accepted the government's argument that licence or spectrum is a state asset over which Aircel had no right of ownership.
'The COVID-19 pandemic must push the military into a long-term reconsideration of its primary challenges.' 'There must be greater emphasis on humanitarian aid and disaster relief including the management of contagious illnesses and impending crises caused by climate change,' notes Ajai Shukla.
Mutual funds, bonds, PPFs, equity and real estate are some options which offer varying rates of return.
The move takes the process of extraditing and bringing back Nirav Modi to face the law in India to the next stage, the sources said.
The minister said any declaration made under the law will be protected
A mechanism for Europe which will link together the missile defence assets from different allies under the North Atlantic Treaty Organisation's command has been declared operational by the organisation. Announced by the alliance 18 months ago, the system has been termed by NATO Director General Anders Fogh Rasmussen as a step towards the organisation's long-term goal of providing full coverage and protection for all its European partners.
The agency said that since all the applicants, except one, were public banks, the money sought to be recovered was public money, restoration of assets in their favour was in public interest.
A Codicil is a document created by the testator to make changes to an existing will, points out Sarbajeet K Sen.
The good news for PepsiCo is that the foods segment has normalised much faster to pre-pandemic levels than beverages.
In a circular dated May 20, Sebi had directed the listed companies to evaluate the impact of Covid-19 on their capital and financial resources, profitability, liquidity position, assets, and ability to service debt. Instead, companies have spoken about the number of plants, warehouses and distribution centres that have resumed operations; work-from-home and safety measures undertaken for employees; and the labour shortage they are facing.
The 82-year-old former Jammu and Kashmir chief minister received the ED summons a day after the formation of the People's Alliance led by him was announced on October 15.
G Murlidhar, MD and CEO, Kotak Mahindra Life Insurance Company explains how to make smart financial decisions for better gains.
'These are only passing clouds. The banking industry is a century-old industry and this is not the first time it is going through such a crisis.' 'When the economy revives, those companies that are in the infrastructure fields will also get revived.' 'After all, a lot of money has gone into creating assets like power projects and roads, so you can't say money has been wasted.'
Mere shuffling of resources or cosmetic changes to prove a point would be counterproductive in the long run, observes Commodore Venugoptal Menon (retd).
The truth can no longer be hidden despite 'headline management' by the ruling dispensation, the opposition party said.
A glance through the declared assets of candidates contesting the forthcoming Lok Sabha elections reveals that future lawmakers of the country are rich, but not as much as their spouses.
