West Bengal and Maharashtra, despite having fewer public sector employees, are likely to face a higher burden of salaries and pensions.
UK's Cairn Energy Plc has offered to forego $500 million and invest that amount in any oil and gas or renewable energy project identified by the Indian government if New Delhi agrees to honour an international arbitration award and returns the value of loss it incurred because of being taxed retrospectively, sources said. The Scottish firm invested in the oil and gas sector in India in 1994 and a decade later it made a huge oil discovery in Rajasthan. In 2006-07, it listed its Indian assets on the BSE. Five years after that the government passed a retroactive tax law and billed Cairn Rs 10,247 crore plus interest and penalty for the reorganisation tied to the flotation.
ICICI Bank has been directed by a consumer court to pay Rs 50,000 compensation to a customer and return his Indica car forcibly repossessed by its employees in violation of SC guidelines. The West Delhi District Consumer Forum president J P Sharma said: "The conduct of the bank in taking forcible possession of car without intervention of the civil court was illegal in view of what has been observed by the SC and the National Consumer Commission."
Facebook enabled users to mark themselves safe in Chennai since Thursday morning
A Bill to change the PCA (1988) was introduced in the Rajya Sabha earlier this month.
At present, someone short of the retirement age can completely withdraw the PF money.
Yoga, wellness, meditation, Ayurveda, software and ... toothpaste - Sri Sri Ravi Shankar has successfully merged business with spirituality
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The Enforcement Directorate, which continued its searches against Modi, Choksi and their companies for the fourth day on Sunday , is also moving to attach at least two dozen immovable properties under the Prevention of Money Laundering Act.
"The strategic divestment transaction of Air India successfully concluded today with transfer of 100 per cent shares of Air India to M/s Talace Pvt Ltd along with management control," DIPAM secretary Tuhin Kanta Pandey said in a tweet. A new board, led by the strategic partner, takes charge of Air India, he added.
A magistrate court here has summoned the CEO of HSBC India and others to appear before it after finding that the MNC bank had "forged" documents to wriggle out of a case relating to termination of an employee.
Mallya failed to repay loans worth Rs 7,200 cr, did not pay salaries, did not deposit PF, and did not pay income tax. It is still a mystery why banks continued to pour money into the airline when it was on life support
'One out of three phones sold in India is a Xiaomi phone.'
First case filed after new norms come into force, NCLT admits plea.
Rediff reader Sudipto Joel from Lucknow shares his inspiring story.
For FY16, MTNL's standalone net loss was over Rs 2,000 crore.
The AAP alleged that Arun Jaitley, as president of the DDCA in 2011, had "pressurised" the then police commissioner to "close" an investigation involving a cricket club of a private bank.
Courts in five countries including the US and the UK have given recognition to an arbitration award that asked India to return $1.4 billion to Cairn Energy plc - a step that now opens the possibility of the British firm seizing Indian assets in those countries if New Delhi does not pay, sources said. Cairn Energy had moved courts in nine countries to enforce its $1.4 billion arbitral award against India, which the company won after a dispute with the country's revenue authority over a retroactively applied capital gains tax. Of these, the December 21 award from a three-member tribunal at the Permanent Court of Arbitration in the Netherlands has been recognised and confirmed by courts in the US, the UK, Netherlands, Canada and France, three people with knowledge of the matter said.
On a daily basis, an average cash logistics company transports Rs 5,000-8,000 crore worth of cash nationwide.
'I would recommend two parts to fiscal support. One, support the lower end of the society by direct intervention through ways such as direct benefit cash transfer. Second, give fiscal support to the stressed sectors in line with the Rs 3-lakh crore (Rs 3 trillion) emergency credit line guarantee norms'
The pilot-turned-airline owner and his partner Biraja Jena plan to launch FlyBig, which has secured 16 routes under the fourth phase of UDAN, the government's regional connectivity programme.
While everybody is talking about the vast potential of 5G, the uptake of such services in India depends on operators getting around 100 Mhz 5G spectrum. At the reserve price proposed by Trai, getting this spectrum will cost a telco around Rs 490 billion. Which amount could be difficult for operators to mop up, given the financial stress they are undergoing, says Kiran Rathee.
As a General Electric employee working in business development in New Delhi, Dhruv Bhatia knew something about finance.
The CJI said that after being a judge for around two decades, he had a bank balance of Rs 6.80 lakh.
The collection of mostly small and medium sized businesses is a hotchpotch of ventures and include design schools, schools, villas for hire in Goa and a country club in Gurgaon.
Ashish Goyal breaks new ground by becoming the first blind student in foremost finance school and first blind trader in the world.
Rapid rise in disposal of corruption cases against govt employees has helped
Finance Minister Nirmala Sitharama on Thursday stated the government is planning to provide a relief package of Rs 1.7 lakh crore to the underprivileged, poor and migrant workers affected by the lockdown amid the coronavirus outbreak. The scheme has been named the Pradhan Mantri Garib Kalyan Scheme.
It took 110 days for the COVID-19 cases in the country to reach one lakh and just 59 days more to go past the nine-lakh mark.
Spare the serious entrepreneurs but don't allow the rogues to use the shield of secrecy, writes Tamal Spare the serious entrepreneurs but don't allow the rogues to use the shield of secrecy, says Tamal Bandyopadhyay.
The industry was expecting to sell 3 million passenger vehicles for the first time in 2016-17, but now it seems a moot possibility.
From a modest two-bedroom apartment in Koramangala, the Bengaluru-headquarted company now has multiple offices across the country.
The highest number of jobs were created in the age group of 18-21 at 1.29 million, followed by 22-25 years of age at 1.12 million during these seven months.
'Prime Minister Modi stated several times that we shall not let this challenge go away without converting it into an opportunity to undertake systemic reforms.' 'And hasn't that been reiterated in action?'
Sahara told the top court this week it was considering other proposals to raise funds, including selling a luxury development outside Pune.
Once a stock market darling, the jewellery chain heads for liquidation.
The jewellers and companies linked to Nirav Modi and Mehul Choksi had allegedly colluded with PNB officers to obtain fake bank guarantees to get loan from overseas branches of Indian banks including Allahabad Bank, Axis Bank and UCO Bank.
The move came a day after the Election Commission announced dates for the forthcoming assembly polls in his state.
I-T department raises tax demand on them for unpaid tax deducted at source
The promoters who own the Leela brand will also be transferring the label to Brookfield for all hospitality businesses.
