News for 'compliance'

Don't waste your energy in court, focus on voters: SC to Pawars

Don't waste your energy in court, focus on voters: SC to Pawars

Rediff.com6 Nov 2024

The court also directed the Maharashtra Deputy Chief Minister Ajit Pawar-led NCP faction to publish a disclaimer in newspapers, including Marathi ones, that the issue of allocation of "clock" symbol was pending in court.

LMV licence holders can drive heavy vehicles: SC

LMV licence holders can drive heavy vehicles: SC

Rediff.com6 Nov 2024

The judgment from a five-judge Constitution bench, led by Chief Justice DY Chandrachud, offers clarity on licensing regulations and is expected to prevent insurance companies from rejecting claims based on the type of licence of drivers involved in accidents.

ISI, terror groups turn to social media platforms for J-K recruitments

ISI, terror groups turn to social media platforms for J-K recruitments

Rediff.com20 Oct 2024

Once identified, these individuals are drawn into private groups where they are exposed to manipulative content, including fabricated videos depicting atrocities allegedly committed by security forces, the officials said.

PPF Changes From Oct 1: 10 MUST-KNOW FAQs

PPF Changes From Oct 1: 10 MUST-KNOW FAQs

Rediff.com1 Oct 2024

If you don't make the necessary adjustments after October 1, 2024, you'll stop earning interest on accounts that aren't in compliance rediffGURU Milind Vadjikar

'PLI Has Been A Big Boost To Manufacturing'

'PLI Has Been A Big Boost To Manufacturing'

Rediff.com26 Sep 2024

'We can hope to see a lot of creation of jobs in the days to come.'

What steps taken?: SC to Delhi govt on cracker ban

What steps taken?: SC to Delhi govt on cracker ban

Rediff.com5 Nov 2024

A bench of Justices Abhay S Oka and Augustine George Masih referred to newspaper reports mentioning a considerable violation of court orders.

Another cricket club exposed for racism in England

Another cricket club exposed for racism in England

Rediff.com18 Sep 2024

Essex have been fined 100,000 pounds ($132,190) after admitting to a charge of racism at the county club which they failed to address between 2001 and 2010, England's Cricket Regulator said on Wednesday.

FIFA initiates investigation into Israel FA's actions

FIFA initiates investigation into Israel FA's actions

Rediff.com3 Oct 2024

FIFA's disciplinary committee will be asked to look into allegations of discrimination raised by the Palestinian Football Association (PFA) after it submitted a proposal to suspend Israel in May, world soccer's governing body said on Thursday.

Twitter loses 'safe harbour' shield in India over non-compliance to IT rules

Twitter loses 'safe harbour' shield in India over non-compliance to IT rules

Rediff.com16 Jun 2021

Sources further said that Twitter is the only social media platform among the mainstream that has not adhered to the new laws.

How I-T dept hopes to ease compliance burden of taxpayers

How I-T dept hopes to ease compliance burden of taxpayers

Rediff.com22 Jun 2021

The income tax department on Tuesday said its new utility developed to help TDS deductors and TCS collectors identify non-filers or "specified persons" on whom higher rate of taxes will be levied will help ease compliance burden. From July 1, non-filers of income tax returns for the past two fiscal years would be subjected to higher tax deducted at source (TDS) and tax collected at source (TCS) rate if such tax deduction was Rs 50,000 or more in each of those two years. The provision was introduced in the 2021 Budget. The TDS deductors and TCS collectors would be required to check on the functionality of the PAN of the vendor from whom TDS is to be deducted or TCS to be collected, only at the beginning of the financial year.

Safety risk in Boeing 737: DGCA alerts airlines

Safety risk in Boeing 737: DGCA alerts airlines

Rediff.com8 Oct 2024

The move follows the recent probe report by the United States National Transportation Safety Board (NTSB) that highlighted safety concerns involving Boeing 737 aircraft equipped with Collins Aerospace SVO-730 Rudder Rollout Guidance Actuators.

EPFO will migrate to new IT platform in 3 months: Labour minister

EPFO will migrate to new IT platform in 3 months: Labour minister

Rediff.com22 Aug 2024

Employees Provident Fund Organisation (EPFO) will migrate to a new information technology (IT) system within the next three months, Union labour minister Mansukh Mandaviya said on Wednesday. In July last year, a clutch of officers at the retirement fund body had written a letter to the Central government complaining about archaic and "collapsing" software systems. Subscribers too were facing problems due to it.

HC notice to Jairam, Pawan Khera on scribe's plea over offensive posts

HC notice to Jairam, Pawan Khera on scribe's plea over offensive posts

Rediff.com5 Jul 2024

The high court asked the defendants to file their reply within two weeks of service of notice and listed the matter for August 22 before the joint registrar.

Twitter to appoint chief compliance officer within a week

Twitter to appoint chief compliance officer within a week

Rediff.com9 Jun 2021

Social media platform Twitter is learnt to have written to the government that it is in advanced stages of finalising chief compliance officer as per the new IT rules and additional details will be submitted to the government within a week, according to an official source.

Tax notices to employees a 'discrepancy', says TCS

Tax notices to employees a 'discrepancy', says TCS

Rediff.com16 Sep 2024

Information technology major Tata Consultancy Services (TCS) on Friday termed the tax demand notices received by several of its employees a "discrepancy," and the tax department will be reprocessing the returns. "We understand that the tax authorities will be reprocessing the returns, post which TDS shall be in sync with Form 26AS issued by the Income Tax Department, and Form 16 Part A issued by TCS. Associates that received the notice will receive a rectification intimation in due course and are not required to pay any demand amount.

Why RBI Cracked Down On P2P Lending

Why RBI Cracked Down On P2P Lending

Rediff.com22 Aug 2024

Following a review of peer-to-peer (P2P) platforms, certain issues -- including high non-performing asset levels, significantly high balances in escrow accounts, and non-compliance with net owned fund and disclosure requirements -- came to the RBI's attention.

Infosys under probe for alleged GST evasion of Rs 32,403 cr

Infosys under probe for alleged GST evasion of Rs 32,403 cr

Rediff.com1 Aug 2024

India's second largest IT services company Infosys has been slapped with a 'pre-show cause' notice for alleged GST evasion to the tune of about Rs 32,403 crore. In a BSE filing, the Bengaluru headquartered IT firm said Karnataka State GST authorities have issued a pre-show cause notice for payment of GST of Rs 32,403 crores for the period July 2017 to March 2022, towards the expenses incurred by overseas branch offices of Infosys Ltd, and added that the company has responded to the pre-show cause notice.

Direct tax mop-up rises 21% to Rs 4.62 lakh cr

Direct tax mop-up rises 21% to Rs 4.62 lakh cr

Rediff.com18 Jun 2024

Net direct tax collection grew 21 per cent to over Rs 4.62 lakh crore so far this fiscal, on higher advance tax payment by corporates.

Do You Need To Get A New PAN Card?

Do You Need To Get A New PAN Card?

Rediff.com29 Nov 2024

First things first: For those wondering if they need to reapply, the answer is no.

Adani-Hindenburg row: Swiss authorities freeze $310 mn in fund

Adani-Hindenburg row: Swiss authorities freeze $310 mn in fund

Rediff.com13 Sep 2024

Swiss authorities have frozen more than $310 million in funds across multiple Swiss bank accounts as part of money laundering allegations into Adani Group, US-based short seller Hindenburg Research claimed citing media report - a charge that the conglomerate vehemently denied. In a post on X, Hindenburg cited "newly released Swiss criminal records reported by Swiss media outlet" to state that "Swiss authorities have frozen more than $310 million in funds across multiple Swiss bank accounts as part of a money laundering and securities forgery investigation into Adani, dating back as early as 2021."

Bengal guv threatens to socially boycott Mamata over RG Kar impasse

Bengal guv threatens to socially boycott Mamata over RG Kar impasse

Rediff.com13 Sep 2024

In a video message, Bose also said he will also socially boycott the chief minister.

EMPS 2024: Only 3.6% vehicle sales target met

EMPS 2024: Only 3.6% vehicle sales target met

Rediff.com8 Jul 2024

The Rs 500-crore Electric Mobility Promotion Scheme (EMPS) 2024, introduced by the Centre to provide incentives to the electric mobility industry, will conclude on July 31 with barely 3.6 per cent of the targeted vehicle sales achieved so far. This is in stark contrast to the earlier flagship Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme, which exceeded its sales targets. According to data from the Ministry of Heavy Industry (MHI), only 13,499 of the 372,215 targeted vehicles have been sold under the EMPS scheme.

Teacher strip searches girls in MP school for mobile phone, booked

Teacher strip searches girls in MP school for mobile phone, booked

Rediff.com16 Aug 2024

As per a complaint lodged by parents, the teacher allegedly took five girl students to the washroom and strip-searched them after a mobile phone rang during class at a government girls' higher secondary school on August 2, an official said.

SC rejects plea seeking review of electoral bonds scheme

SC rejects plea seeking review of electoral bonds scheme

Rediff.com5 Oct 2024

The review pleas filed by advocate Mathews J Nedumpara and others contended that the matter related to the scheme falls in the exclusive domain of legislative and executive policy.

Street Signs: F&O seismic shift, IPO fervour going strong, and more

Street Signs: F&O seismic shift, IPO fervour going strong, and more

Rediff.com9 Sep 2024

With new eligibility criteria for futures and options (F&O) coming into effect, Jio Financial Services and Zomato are strong contenders for inclusion in the derivatives segment, according to an analysis by Nuvama Alternative & Quantitative Research. The report suggests that these new F&O inclusions could also propel these two companies into the benchmark National Stock Exchange Nifty 50 during the March rebalancing.

Budget Eases TDS, TCS For Salaried Class

Budget Eases TDS, TCS For Salaried Class

Rediff.com6 Aug 2024

'Earlier there was no provision for considering TCS collected from the taxpayer for overall tax computation.' 'Now, credit will be given by the employer for TCS already collected to consider net tax to be deductible.'

World No.1 Sinner cleared after failed drug tests

World No.1 Sinner cleared after failed drug tests

Rediff.com20 Aug 2024

World men's number one Jannik Sinner has been cleared of fault or negligence by an independent tribunal after failing two drug tests in March, the International Tennis Integrity Authority (ITIA) said on Tuesday.

Adulterated Drugs On Decline Amid Crackdown

Adulterated Drugs On Decline Amid Crackdown

Rediff.com10 Oct 2024

Rise in raids on illicit drug manufacturing units, alongside arrests for the production, sale, or distribution of spurious or adulterated drugs.

Rediff appoints Infibeam's Vishal Mehta as CMD

Rediff appoints Infibeam's Vishal Mehta as CMD

Rediff.com3 Oct 2024

Rediff.com, one of India's pioneering internet companies, on Tuesday announced the appointment of Mr Vishal Mehta as its new Chairman and Managing Director. This key leadership change follows Infibeam Avenues Ltd's acquisition of a majority stake in Rediff.com.

GST collections rise 10% to Rs 1.75 lakh cr in Aug

GST collections rise 10% to Rs 1.75 lakh cr in Aug

Rediff.com1 Sep 2024

Gross GST collections in August grew 10 per cent to about Rs 1.75 lakh crore, reflecting higher domestic consumption. As per the government data released on Sunday, gross GST revenues from domestic transactions grew 9.2 per cent to about Rs 1.25 lakh crore. Revenues from import of goods were up 12.1 per cent to Rs 49,976 crore.

RBI directs gold loan providers to review policies and practices

RBI directs gold loan providers to review policies and practices

Rediff.com1 Oct 2024

The Reserve Bank of India (RBI) on Monday directed banks and non-banking financial companies (NBFCs) offering gold loans to thoroughly review their policies, processes, and practices to identify any gaps. The central bank also told them to closely monitoring their gold loan portfolios amid significant growth observed in this segment vis--vis some lenders. Additionally, the RBI, through a circular, instructed these lenders to ensure adequate controls over outsourced activities and third-party service providers.

Porsche case: Probe finds lapses in JJB members' conduct

Porsche case: Probe finds lapses in JJB members' conduct

Rediff.com15 Jun 2024

A committee formed to probe the conduct of two Juvenile Justice Board (JJB) members in connection with the bail given to the minor accused in the Pune Porsche crash case has found 'procedural lapses', 'misconduct' and 'non compliance of norms', a senior official said on Saturday.

Assam passes bill to abolish Muslim marriages, divorce act

Assam passes bill to abolish Muslim marriages, divorce act

Rediff.com29 Aug 2024

Revenue and Disaster Management Minister Jogen Mohan had on August 22 tabled The Assam Repealing Bill, 2024 in the Assembly to abolish The Assam Moslem Marriages and Divorces Registration Act, 1935 and the Assam Repealing Ordinance 2024.

Karnataka to reserve 100% Group C-D posts in private firms for locals

Karnataka to reserve 100% Group C-D posts in private firms for locals

Rediff.com17 Jul 2024

The Karnataka cabinet has approved a bill mandating 100 per cent reservation for Kannadigas in private firms for Group C and Group D posts, Chief Minister Siddaramaiah said on Tuesday.

Assam govt tables compulsory Muslim marriage, divorce registration bill

Assam govt tables compulsory Muslim marriage, divorce registration bill

Rediff.com22 Aug 2024

Last month, the Cabinet had approved the Repealing Bill to abolish the Assam Muslim Marriages and Divorce Registration Act and Rules of 1935, which permitted underage marriages under specific conditions.

What Nirmalaji told India's taxmen

What Nirmalaji told India's taxmen

Rediff.com21 Aug 2024

Finance Minister Nirmala Sitharaman on Wednesday asked tax officers to use simple language in income tax communications so that notices do not instil fear in the minds of taxpayers. Advising the income tax officers not to take "disproportionate" action and use enforcement measures only, as the last resort, Sitharaman said tax officers should use "power judiciously".

E-invoice mandate may cover B2C transactions

E-invoice mandate may cover B2C transactions

Rediff.com12 Sep 2024

Businesses across the country may soon be required to issue electronic invoices, or e-invoices, directly to consumers for the sale of goods and services. The Goods and Services Tax (GST) Council, in its forthcoming meeting on Monday, is expected to discuss extending the e-invoicing mandate to cover business-to-consumer (B2C) transactions. Currently, e-invoicing is compulsory for businesses with a turnover of Rs 5 crore and above, but only for their business-to-business (B2B) transactions.

HDFC Bank aims to reduce CD ratio, plans slower loan growth in FY25

HDFC Bank aims to reduce CD ratio, plans slower loan growth in FY25

Rediff.com21 Oct 2024

The country's largest private sector lender HDFC Bank on Saturday said it will grow its loan book slower than the industry in the current financial year (FY25). The move comes as the lender looks to bring down its elevated credit - deposit (CD) ratio to pre-merger levels. "We will bring down the CD ratio faster than what we had anticipated.

Ace acquires another plane as Jet deal gets delayed

Ace acquires another plane as Jet deal gets delayed

Rediff.com7 Oct 2024

Ace Aviation, which has been fighting Jet Airways for the acquisition of three Boeing B777 aircraft, said that it has acquired another aircraft for the conversion slot in early February 2025.

RBI imposes biz restrictions on Edelweiss

RBI imposes biz restrictions on Edelweiss

Rediff.com30 May 2024

The Reserve Bank on Wednesday imposed business restrictions on Edelweiss Group's lending and asset reconstruction arms on concerns over evergreening of loans. The central bank has asked ECL Finance Ltd (ECL) to cease and desist from undertaking any structured transactions in respect of its wholesale exposures, other than repayment and/or closure of accounts, an official statement said.