From the date you put in your papers, the employer will promptly freeze your salary payouts and you will get everything along with the full and final settlement.
Keep sufficient funds in your bank account until the cheque is cleared.
The probe agency, while seeking Patkar's custody, also told the court that an offence of such magnitude was not possible without the "explicit complicity of senior functionaries" of the Brihanmumbai Municipal Corporation.
BJP president J P Nadda on Sunday promised Uniform Civil Code (UCC) and 33 per cent reservation for women in government jobs in Himachal Pradesh while releasing the party's manifesto for the state assembly polls.
Keep your mobile number and e-mail updated. When you receive the weekly report on cash holdings, check to ensure there is no discrepancy between the amount you have kept with the broker and what the latter has reported, advises Sanjay Kumar Singh.
Tax consultants and chartered accountants have started receiving a flurry of calls from their clients - both corporate and individuals - seeking clarity over changes in the reassessment regime made during the recently concluded Budget Session of Parliament. Tax experts apprehend the amendments may lead to the income-tax (I-T) department sending out more notices. The new provisions, effective from April 1, have extended the scope for tax sleuths to reopen the past assessments.
The income-tax (I-T) department is working on integrating the new e-filing portal with stock exchanges to help tax authorities track trade transactions, including futures and options. The integrated system will look at discrepancies between the data disclosed by an assessee and match it with data fetched from stock exchanges, using artificial intelligence, said two officials in the know. This will help detect and red-flag such matters, particularly those related to non-filers of income-tax return (ITR).
The blockchain, the public ledger that tracks every bitcoin transaction, is changing commerce as we know it, says Devangshu Datta.
CBDT recently issued orders to all tax offices to check any 'discrepancies' in financial statements of these companies
The JD-U has become probably the first party in recent years to target its own senior leader for corruption.
The finance ministry (FinMin) has asked Infosys to work on ways to extract and access taxpayers' real-time data faster and accurately as it is crucial for taking decisions on policy changes. While reviewing progress of the income tax portal 2.0, which had faced glitches, the officials also told the Infosys team to increase the scope of pre-filled data in the ITR forms. Senior officials in the ministry held a review meeting last month with the Infosys team and officials of the Central Processing Centre (CPC).
CreditSights has dialed back on its language on debt levels at richest Indian Gautam Adani's group but has maintained that the group's leverage is elevated. In a new note published after discussions with the group's management, CreditSights, a Fitch group firm, said it "has discovered calculation errors" in its recent debt report on two Adani Group companies but these did not change its investment recommendations. On August 23, CreditSights stated that the Adani group was "deeply over-leveraged" and may "in the worst-case scenario" spiral into a debt trap and possibly a default.
Banerjee slammed the opposition for a "malicious campaign" launched against her, asserting that she does not support corruption.
The new AIS is expected to make the taxpayer's task of filing ITR easier and faster, points out Bindisha Sarang.
Now, more pieces of information about your transactions and income, such as remittances received from overseas, will be uploaded in Form 26AS by the income-tax (I-T) department. This will help the taxpayer file I-T return (ITR) correctly and assist the department in detecting discrepancies, if any, in the ITR. Besides foreign remittances, these new items are interest on I-T refund, dividend from mutual funds (MFs), and purchase of MFs, among others.
'India has many attractive features for the long-term investor; it combines: A low per capita income, a young population, and a heavier presence of high margin, asset-light firms in the technology sector.'
'East Bengal have a great legacy. We all want Mohun Bagan and East Bengal to play in ISL. I am very happy that Mohun Bagan are playing and we all want East Bengal to play in the ISL too.'
With auditing under the scanner and two of the Big Four firms stopping non-audit services for audit clients, auditors will now be subjected to a more stringent standard of reporting.
Walmart is rumoured to be looking to listing Flipkart in a few years. At that stage, we'll get a better sense of what's going on in retail, says Devangshu Datta.
Salaried individuals may not need to file revised returns as they have only one source of income and there are lesser chances of erring while filing returns
The police in the HC argued that Kundra was not cooperating with the probe in the case, filed in February this year by the Mumbai crime branch, and had destroyed evidence, a claim refuted by his lawyer.
In a first, the Comptroller and Auditor General's (CAG) officers reached out to several ministries in the last week of April as part of a confidence-boosting measure. The meeting brought the CAG officials and those from the ministries across the table to discuss the pain points in their relations. CAG of India Girish Chandra Murmu took this novel step because of growing tensions between those audited and the auditor.
"Canara Bank is the lead banker of lenders' consortium to DCH and the bank is conducting forensic audit of DCH," Financial Services Secretary D K Mittal told reporters.
Most listed corporate entities in the country are in a fix. With the sudden declaration in late March of a nationwide lockdown to tackle the Covid-19 pandemic, the final calculations of their financial results for the year 2019-20 (FY20) are hanging in limbo. Till April 19, only 41 of the 3,947 companies listed on the BSE have managed to finalise the dates for the declaration of their yearly financial results.
A healthy CIBIL Report and a high CIBIL TransUnion Score indicates that you are managing your loans and credit relationships well and are financially savvy
The quarterly reports filed by listed companies with the Securities and Exchange Board of India can be obtained and scrutinised by the ministry to find out discrepancies and take appropriate actions, sources said. Since the disclosure of the Satyam scam, the ministry of corporate affairs has been trying to develop an early warning system so that it can take advance action to prevent large-scale corporate frauds.
The difference, however, lies in Satyam over-stating its revenue, cash position and profits, while Maytas Infra under- stated its profit in April-June quarter and the discrepancies were 'duly accounted for' in the company's books later. While the role of auditors in Satyam fiasco is questionable as of now, it was statutory auditors of Maytas Infra who pointed out the under-statement in its books.
Concerns are swirling that Japan's dream of hosting the Tokyo 2020 Olympics could be a fatality of the spread of the new coronavirus, jolting organisers, sponsors, and media firms who have spent billions of dollars in the run-up to the event. Global insurers face a hefty bill if the coronavirus forces the cancellation of the Games, with estimates of the cost of insuring the showpiece running into billions of dollars.
Filing your tax returns may seem like a lot of paperwork, but it is swift and smooth once you start with a clear plan, says Anil Rego.
Sebi's surveillance department has red-flagged unusual trading patterns in some stocks. Shares of some companies were seen going up ahead of a sharp sell-off.
The Committee of Administrators (COA) on Friday assured that all six north eastern states will be playing Ranji Trophy as individual units next season with Board of Control for Cricket in India GM (Game Development), Ratnakar Shetty, given charge of their smooth integration.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
SVAMITVA is a new government project that primarily aims to demarcate abadi areas that includes inhabitant land, inhabited areas contiguous to abadi and wadis/basties in rural areas, using drone surveying technology.
Every political party loves to use the bait of loan waiver to woo the electorate. If their hearts bleed for the poor, they can always use the party funds to pay off the lenders, suggests Tamal Bandyopadhyay.
The central bank's move comes against the backdrop of the government efforts to crackdown on entities, that are illegally raising large amounts of money from the public.
The problem is actually acute in the diamond jewellery industry where there is no uniform criteria of inventory valuation unlike gold, whose prices are uniform and widely quoted.
The US-based agency, however, termed the 7 per cent GDP growth for the October-December quarter as "surprising", a tad lower than 7.4 per cent in the previous quarter.
'The government believes there is still significant scope to bring more people under the tax net and collect the right amount of taxes, in cases where taxpayers are underpaying,' says Kuldip Kumar, partner and leader personal tax, PwC.
The party refuted Mishra's charges and said he was 'parroting' the Bharatiya Janata Party.
