Those spending over Rs 2 lakh on foreign travel, incurring more than Rs 1 lakh electricity bills, or depositing over Rs 1 crore in current account will have to mandatorily file ITR even if their total income is below the taxable limit. The last date for filing has been extended to Nov 30 from Jul 31.
Whatever you do, continue to pay your loan EMIs and insurance premiums for term and health policies (not investment-based policies) on time. Then try to buy yourself some breathing space, says Harsh Roongta.
Startups in India need low-cost debt for working capital, which is impossible to get.
The Director of Federal Government Affairs for KPMG LLP has been named one of the top 25 corporate lobbyists on Capitol Hill.
A sector-wise analysis shows that a total of five PE transactions in the energy and natural resources sector led the value chart.
RIL's stake in Network18 would reduce to 64 per cent, from 75%, following the merger
A taxpayer filing ITR electronically without digital signature has to verify it using either Aadhaar OTP, or logging into e-filing account through net banking, or by Electronic Verification Code or by sending a duly signed physical copy of ITR-V through post to CPC Bengaluru within 120 days of uploading the ITR.
Among the assets in question include the Force India and Indian Empress super-yacht - which was fitted with an Elton John piano around 2015, a fleet of high-value cars and some artwork from Mallya's Ladywalk property in the English village of Tewin in Hertfordshire.
The diamond merchant wanted in India on charges of fraud and money laundering in the estimated $2-billion Punjab National Bank scam case, lost his legal battle against extradition as a UK judge ruled that he does have a case to answer before the Indian courts.
Any and every message on any chat interface does not require your response. Think whether it has any value and discard the rest to feel in control about what you read and respond to.
You struggle because, first you 'try' and second, you, 'talk', says mind coach, NLP trainer and Zen Lifestyle Expert Anu Krishna.
Vadra's anticipatory bail application is likely to be heard by the court on Saturday.
PwC wants to know what will happen when a company with substantial reserves is merged into a new concern and the resultant entity is converted into a limited liability partnership.
Based on a writ petition filed by some individual investors, the High Court while ordering the status quo on Friday, issued notices to SEBI, BSE, NSE, Sun Pharma, Ranbaxy, Daichii Sankyo and Silver Street Developers.
Any additions in demand made by a tax officer under the faceless assessment process for over Rs 5 lakh of income will undergo a rigorous review process before a final demand order is passed.
Train your mind to lead you to the secrets and keep the channel of communication open with it, so you become aware and act on it, says mind coach and mental health expert Anu Krishna.
Why doesn't anybody ask the PSU State Bank of India under RTI on how much they are spending on legal fees trying to recover money from me in the UK when I have offered 100 per cent payback in India, asked Mallya.
He is the first Indian-origin person to head a 'Big-Four' audit co.
Apart from its enforceability through courts due to it being part of the I-T Act, two other factors will help ensure the taxpayers' charter is implemented, at least in letter (if not in spirit) this time around, points out Harsh Roongta.
Deloitte India would not provide non-audit services to all listed companies and other entities where public money is involved such as banks and insurance companies, if they are its audit clients.
The due date for filing Income Tax returns for 2019-20 has already been extended till November 30, 2020.
Dr Nishant Joshi and his pregnant wife, Dr Meenal Viz, had initiated the legal action in April with a pre-action letter seeking answers from the UK's Department of Health and Social Care and Public Health England. They decided to push ahead with the case in the high court in London on Wednesday because they feel they are "no longer willing to wait".
While the Union Cabinet had in November last year approved the sale of the government's entire 52.98 per cent stake in BPCL, offers seeking expression of interest (EoI), or bids showing interest in buying its stake, were invited only on March 7. The EoI submission deadline was May 2, but on March 31 it was extended up to June 13. On Wednesday, the government said this deadline is further being extended up to July 31.
The government is keen to close the sale before March 31, 2021, to help meet a record Rs 2.1 lakh crore target which Finance Minister Nirmala Sitharaman has set from divestment proceeds in the Budget for 2020-21.
The titular eighth Nizam of Hyderabad, Prince Mukarram Jah, says he wants a 'clean break' from a decades-old legal fight over funds lying in a United Kingdom bank account belonging to his ancestors, as he waived his right to a share in the estimated 4,00,000 pounds leftover after an English high court order from last year.
E-commerce giants such as Amazon, Netflix and Flipkart, whose headquarters are not in India, potentially have to pay the additional levy of 2 per cent from April 1.
DDT is levied on dividends that a company pays its shareholders out of its profits. It is currently charged at the rate of 20.55 per cent, including a surcharge and education cess. Government may instead tax the shareholders receiving dividends, in a bid to help improve investor sentiment by addressing the multiplicity of taxes and bring down the effective tax rates for companies.
According to industry insiders, India has 400 million smartphones and is the world's fastest-growing app market. So the addition or deletion of apps impacts the global valuations of these platforms. "Based on calls given by various local organisations to delete Chinese Apps, there will be an impact," said Blaise Fernandes, director at foreign policy think tank Gateway House. "All of them eventually will go the IPO (initial public offering) route so there would be economic impact also."
Individuals and entities, whose accounts are not required to be audited, were mandated to file I-T returns by July 31.
Knight Frank LLP, an international property consultancy, recently conducted a study on how many years worth of earning would it take for an average citizen to buy a 100-square-metre luxury or a high-end apartment in the world's most important cities. These numbers are according to an analysis of real estate and wages.
Some international markets offer interest rates as low as one per cent, which could reduce the government's interest cost significantly.
On the volume side, the number of M&A and PE deals was 110 in July, 15 per cent lower from 130 in July 2018.
Franklin Templeton Mutual Fund, which has closed six debt schemes, has said the winding-up process will be delayed in the absence of authorisation from investors and further steps will be possible only after seeking fresh approval from them. It further said that investors who do not have an e-mail ID or mobile number registered with the fund house will not be able to participate in the voting process. The date on which the voting would start has not been disclosed yet.
In the US, VW faced penalties of up to $18 billion.
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
Kaushik Khona's second innings at GoAir will be more challenging than the first. Globally, the aviation industry is in deep distress because of the pandemic, reports Aneesh Phadnis.
US President Barack Obama has nominated Indian-American lawyer and telecom policy expert Ajit Varadaraj Pai, who belongs to Republican party, as Commissioner of the Federal Communications Commission (FCC), the country's premier regulatory body.
The ministry said it was an anti-abuse provision amid growing instances of NRIs shifting their stay in low or no-tax jurisdiction to avoid tax payment in India.
The government on Saturday made its prior approval mandatory for foreign investments from countries that share land border with India to curb 'opportunistic takeovers' of domestic firms following the COVID-19 pandemic, a move which will restrict Foreign Direct Investment from China.
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