The auditor also raised doubts over the safety procedures.
Effective tax rate is the portion of profits which companies pay as corporate tax after seeking exemptions, as against the statutory tax rate of 33.9 per cent.
The auditor of government accounts, CAG, has faulted the Income Tax department for levying Rs 708.6 crore less in taxes from companies including State Bank of India, Tata Sons, Mahindra & Mahindra and Bharti.
Shiv Sena leader and Kalyan MP Shrikant Shinde on Sunday launched a scathing attack on former chief minister Uddhav Thackeray and his MLA son Aaditya Thackeray, accusing them of looting Mumbai and pushing the 'Marathi manoos' out of the city in the last 15 years.
Zee News editor Sudhir Chaudhary on Monday moved the Delhi High Court seeking anticipatory bail in a case registered against him for telecast of a show allegedly based on forged documents against Jindal Group in connection with Coalgate.
Government auditor CAG has rapped five regulators, including Sebi, Irda and PNGRB, for keeping their surplus funds worth over Rs 2,142 crore collected through fee and penalty outside the government accounts.
National auditor says a significant part of NPAs was due to fraud and may never be recovered
The government had in October 2007 set a sale price of $4.20 per million British thermal unit based on the price discovered by RIL from key customers.
The CAG report, tabled in Parliament, states the interest on the short payment stood at Rs 1,052.13 crore for the period up to March 2016.
You don't prep for 2028 but for 2040, or even 2044. Sustained sporting excellence is based on mass support, grassroots development, and funding - and it is this trifecta India needs to work on, systematically, asserts Prem Panicker.
Down and out Congress is all set to use 'Modi's doublespeak on CAG reports' and invitation to Nawaz Sharif as weapons to target the prime minister-designate. Renu Mittal reports.
Taking potshots at Vinod Rai over his comment that placing reports in Parliament can't be the Comptroller and Auditor General's only role, Congress general secretary Digvijay Singh on Friday asked whether the former intended to become the country's prime minister, if not an accountant.
The Comptroller and Auditor General on Tuesday slammed the Defence Ministry and Air Force for "several instances" of deviation from rules in the procurement of VVIP choppers in the Rs 3,727 crore AgustaWestland deal.
Instead of only government departments and state-owned undertakings, the CAG can now audit private companies, too.
Pro-BJP forces, unable to tolerate Udhayanidhi's stance against oppressive principles, have spread a false narrative, alleging he called for the genocide of people with Sanatan thoughts, Stalin said in a statement and wondered why Prime Minister Narendra Modi would also join those targeting the Tamil Nadu minister.
The CAG, who blamed what he called a lack of accountability in bureaucracy for delays in action on audit reports, said officials who sit over them should be punished.
In its report tabled in Parliament, the CAG said the Swan Telecom's application was 'in effect against the intent and spirit' of the Unified Access Service Licencing guidelines as it was among those beneficiaries which 'suppressed facts, disclosed incomplete information and submitted fictitious documents' to the department of telecommunication.
Keeping up the government's attack on the Comptroller and Auditor General, Union minister V Narayanasamy on Friday said the top auditor owed an explanation on its estimated loss of Rs 1.76 lakh crore in 2G spectrum allocation in the previous auction.
The BJP said the email purportedly by an Airbus executive referred to a helicopter deal and not Rafale.
The Comptroller and Auditor General on Tuesday declined to join a public debate on the controversies over its findings on the coal blocks allocation, which have come under attack from Prime Minister Manmohan Singh, the Congress and critics.
United Progressive Alliance key ally Dravida Munnetra Kazhagam on Monday strongly pitched for a multi-member Comptroller and Auditor General, saying the recent flopped auction of 2G spectrum that netted only about Rs 9,000 crore had proved wrong the top auditors' report pegging the presumptive loss in 2G allocation at Rs 1.76 lakh crore.
Aadhaar is falling behind on technology, missing out on confidentiality and has gaps in its data archiving policy and preserving confidentiality in delivery of the cards to people, says a report by the Comptroller and Auditor General of India (CAG). The performance report, 'Functioning Of Unique Identification Authority Of India', tabled in Parliament on the last day of the budget session notes, assigning a unique identity to all resident Indians was supposed to be the key feature of Aadhaar. But "There were instances of issue of Aadhaar with the same biometric data to different residents indicating flaws in the de-duplication process and issue of Aadhaar on faulty biometrics and documents". It says close to half a million such records had to be cancelled by the Unique Identification Authority of India up to 2016.
Replying to questions in Rajya Sabha, he said CAG in its audit observations has pointed out financial irregularities of Rs 1404.32 crore (Rs 14.04 billion) in its 2008 report and Rs 4547.63 crore (Rs 45.47 billion) in the 2007 report. Deshmukh said CAG has also pointed out reasons for deficiencies in the accounts of PSUs.
Under fire following Comptroller and Auditor General report indicting her and her government for irregularities in the Commonwealth Games projects, Delhi Chief Minister Shiela Dikshit on Saturday said action will be taken if any wrongdoing is found by the Public Accounts Committee looking into the issue.
The electricity board lost Rs 1,111.35 crore owing to irregularities.
Comptroller and Auditor General Vinod Rai on Saturday said that he did not foresee any dilution in the powers of CAG if the organisation is converted into a multi-member body.
'The prime minister's comment on 'revdi culture' was welcome. But I am disappointed he did not follow up on that.' 'All political parties, including the BJP, have been guilty of this.' 'Now, Modi's guarantees, the Congress's 'nyay' path and both ruling and Opposition parties are vying with each other for freebies in my home state Andhra Pradesh.'
The Income-tax Department has allowed irregular exemptions on TV rights from BCCI to four cricket associations resulting in non-levy of tax to the tune of Rs 37.23 crore, the Comptroller and Auditor General (CAG) said on Friday.
Former Comptroller Auditor General Vinod Rai has come out with a stinging criticism of former Prime Minister Manmohan Singh saying integrity is not just financial but intellectual and professional too and claimed that Congress leaders had sought to apply pressure on him to keep the PM's name out of audit reports.
Pulling up the Maharashtra Tourism Development Corporation (MTDC) for "failing" to develop tourist facilities, the CAG has noted that the number of foreigners visiting the state has dropped and those availing its infrastructural facilities were negligible.
Concerned over the frequent leaks of its "half baked reports", the office of the Union comptroller and auditor-general (CAG) has decided to issue different versions of its draft reports -- the ones given for feedback and reactions before the final version is readied -- to ministries and public sector units to nail the sources of leaks.
Delhi airport has been losing money for the past six years because of the heavy interest burden on loans.
'They will be able to ride over this immediate crisis and carry on, but they need to take corrective steps and these will have to be long term measures which must include working closely with state governments.'
Trying to wriggle out of the controversy over Union Minister V Narayansamy's remarks on the Comptroller and Auditor General, the Congress on Monday indicated that the government will not go in for changes in the auditor's institutional mechanism based on the "activities of a person".
The Universal Service Obligation fund was set up in April 2002 and a statutory status was given to it.
While government/PSU procedures focus on piece meal & individual tenders taken on standalone basis, avoiding delays and cost of not doing things becomes a primary consideration in PSC procurement
Comptroller and Auditor General has pulled up the finance ministry for flaws in double taxation avoidance agreements
The Communist Party of Indi today demanded that Prime Minister Manmohan Singh reply to charges of irregularities in allocation of coal blocks instead of evading an answer over the issue.
A bench comprising justices K S Radhakrishnan and Vikramajit Sen said CAG can carry out the audit to examine whether the companies are giving proper share of their revenue to the government.
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