The income tax department on Wednesday said it will immediately issue pending refunds up to Rs 5 lakh, benefitting around 14 lakh taxpayers. The government will also issue pending GST and customs refunds of Rs 18,000 crore to provide relief to business entities.
Gujarat and Karnataka have been ranked as the best performers in developing startup ecosystem for budding entrepreneurs, according to the ranking of states and Union territories by the Department for Promotion of Industry and Internal Trade (DPIIT). Among smaller states having population of less than one crore, Meghalaya has been adjudged as the best performer. The rankings are based on the initiatives taken to develop the startup ecosystem for promoting budding entrepreneurs.
The launch of the crewed space mission, Gaganyaan, is being planned before the next Independence Day and this will be proceeded by two uncrewed missions, Lok Sabha was informed on Wednesday.
After imposing 20 per cent export duty on non-basmati rice, the government has banned the export of broken rice with an aim to increase domestic availability, according to a government notification.
Income tax officials on Monday conducted surveys at offices of engineering major Larsen & Toubro and media firm Zee Group for alleged GST evasion, an official of the tax department said. When contacted, L&T neither confirmed nor denied the development, while the media group has confirmed the tax survey. The tax official said surveys have been carried out at many L&T premises in the city, and in case of Zee, the surveys are underway at all its offices across the country since morning.
The Baahubali star is among the over 10 Tollywood (Telugu film industry) personalities including actors and directors, to be summoned by the ED.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
Service tax accounts for one-third of the total indirect tax collection in the country and the government expects to raise Rs 1.8 lakh crore (Rs 1.8 trillion) through the levy this fiscal.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Thirty six years down the line, the restaurant still continues to serve people and is famous as the place where Sobhraj was arrested.
This year, India bought 27.7% of the gold exported by Switzerland; in Jan, this was only 15%.
The National Assembly Standing Committee on Foreign Affairs on Monday issued a four-page policy paper linked to Kashmir.
An Indian-origin CEO of a US-based homeownership company has abruptly fired more than 900 employees, about 9 per cent of its workforce, on a Zoom webinar, citing market efficiency, performance and productivity as the reasons behind the move. On a Zoom webinar last Wednesday, Better.com CEO Vishal Garg abruptly announced that the mortgage company is laying off about 9 per cent of its workforce, CNN reported. Garg cited market efficiency, performance and productivity as the reason behind the firings, the report said.
'Every telecom user wishes to know who is calling. This will help in preventing cyber frauds using telecom services.'
Officers across departments and ministries have been asked to speak to people across sectors for 'SWOT' analysis of issues for revival of the economy.
Indian customers will have wider travel options as airlines introduce new flights from the end of March. While Malaysian Airlines and Turkish Airlines are resuming passenger flights to India after a gap of two years, Air France-KLM and Lufthansa Group will scale up their existing service in a graded manner in the summer schedule. Emirates, the largest foreign airline operating in India, too, is looking to restore its pre-Covid-19 schedule of 172 flights per week.
It is watching e-commerce policy fineprint before spelling out India plan
Vodafone Idea's (Vi's) search for a lifeline has turned longer and tougher even as it continues to lose customers and delay vendor payments. Vi's much-needed Rs 1,600-crore fundraising plan got stuck due to the government's silence on picking up a proposed 33 per cent equity in the financially stressed telco. The development spells further trouble for the company, which has an overall debt pile of Rs 2.2 trillion, including hefty dues to the government.
Virtually addressing employees of Air India across the globe, he said for the airline to be the best again there will be an organisational redesign, and it will "require a huge transformation, probably the largest transformation and the change all of you would ever go through". The carrier will expand its "outreach both domestically and internationally" and it has the desire to connect India with every part of the globe, he added.
The Department of Telecom has proposed to further tighten the noose on pesky callers by imposing a Rs 10,000 penalty for every call and SMS made by telemarketers after 50 violations, according to an official source. The Department of Telecom (DoT) has proposed to make the norms more stringent by reducing the slabs for levying penalty to Rs 1,000 per violation for 0-10 breaches, Rs 5,000 each for 10-50 violations and Rs 10,000 each for more than 50 violations. The slabs under the present Telecom Commercial Communications Customer Preference Regulations (TCCCPR), 2018 are 0-100, 100-1,000 and more than 1,000 violations.
Due to the group's presence across multiple businesses, it is in a unique position in the aviation industry to bring the best of talents.
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.
An alert has been issued by the Directorate of Revenue Intelligence, lead agency to check smuggling and customs duty evasion, to all international transit points across the country, official sources said.
The inaugural Formula E race in Hyderabad is scheduled for February 11 next year, joining the likes of New York, London and Rome on the calendar.
India's first home-grown mapping company MapMyIndia is looking to list in the public market by raising around Rs 1,200 crore at a Rs 6,000-crore valuation. Sources said the company is ready with its draft red herring prospectus documents and is likely to file as early as next week. While the money will be used for business expansion, it will also give MapMyIndia's early investors, including Qualcomm, PhonePe, and Japanese mapmaker Zenrin Co., a chance to exit. The Verma family, which founded the company, will continue to remain promoters.
No alcohol was served in bars, pubs, restaurants and hotels and none could be bought either as permits expired on July 31.
For Afghans in India, including medical tourists from the war-torn country as well as migrants and refugees staying here much longer, the safety of friends and families is the biggest concern - particularly for those linked to the now collapsed government or who have had work ties with the US.
The free trade agreement (FTA) talks with India are no longer working towards a Diwali deadline though negotiations are progressing well, UK Trade Secretary Kemi Badenoch has said as New Delhi expressed confidence on Friday of an "early date" for a mutually beneficial deal. "There are ongoing negotiations as we know on the FTA. There is interest on both sides to see if we can work towards a deal, an FTA, that is beneficial to both the countries at an early date," external affairs ministry spokesperson Arindam Bagchi told reporters in New Delhi. It came as External Affairs Minister S Jaishankar spoke to his UK counterpart, James Cleverly, and referenced the Roadmap 2030 bilateral agreement signed between Prime Minister Narendra Modi and former UK PM Boris Johnson in May last year, with no specific reference to the FTA.
According to the CBDT, if a social media influencer retains a product from the manufacturing company after using for the purpose of rendering service, then it will be treated as a benefit/perquisite under newly-introduced Section 194R of the IT Act.
Every bank offers a different slab of minimum balance to customers, based on which 'free services' are provided
Since 2016, Sebi has made many rules to prevent unauthorised trading by stockbrokers. Yet, one comes across dozens of cases of blatant overtrading in client accounts, every year, leading to massive losses to investors, observes Debashis Basu.
The FIEO on Thursday reiterated that the Customs authorities at several ports in India had ordered a sudden examination of Chinese consignments without any official word from the government, and this may have led to the Chinese retribution.
This import duty exemption would remain in force till October 31 this year.
IT Department asks car dealers to furnish ledgers of all customers who have booked vehicles from November 1.
The Chinese dependence is far from over, industry players are also citing a shortage of electronic toys in the country.
Hassanain is being charged with Assault in the Third Degree as a Hate Crime, Assault in the Third Degree, and Aggravated Harassment in the Second Degree, and will be arraigned on Saturday, it added.
The Swadeshi Jagaran Manch has pointed out that these firms pose a threat to domestic manufacturing and retailing as they do not pay relevant taxes such as GST, giving them a huge edge over local players.
A case has been registered at the Kotwali police station on a complaint filed by the Trust's secretary and Vishwa Hindu Parishad leader Champat Rai, a senior police official said.
The finance minister said easy access and efficiency in providing banking services will help in revival of businesses which are restarting operations after the lockdown.
The survey covered 1,210 IT executives and technology professionals from North America, the United Kingdom, Australia, New Zealand, Singapore and India. In India, 202 respondents from businesses with more than 500 employees across 18 industry verticals completed the survey. Overall, 89 per cent of the respondents said implementing a work-from-home policy had increased security challenges for their organisations. The risk posed by shadow IT was especially high, with 89 per cent of companies having no control over the software that employees purchase and install on their devices.
