The finance ministry is considering amending the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, which governs public-sector banks (PSBs), to make suitable provisions for allowing PSBs to transfer shares to the Investor Education and Protection Fund (IEPF) when dividends of such shares remain unclaimed by the investors for seven consecutive years. "While Section 10B of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, allows the transfer of unclaimed dividends to the IEPF, it, however, does not mention a provision for transferring unclaimed shares and may now be amended by the next government to allow such transfers to happen," said a person familiar with the matter.
Three years after India declared its goal to become a net-zero economy by 2070, the policy design for achieving the target has begun, with the NITI Aayog forming dedicated multi-sectoral committees to prepare a transition plan. In 2021, India joined a select group of nations that set a target year for becoming net-zero carbon economy. At COP26 in Glasgow, Prime Minister Narendra Modi outlined a five-pronged 'Panchamitra' climate action target for India and committed to a net-zero target by 2070, joining nations like the US, the UK, and China.
Don't solely focus on tax-saving alone.
The dealers operating in the space have jumped nearly three times over the past two years.
The next great mega-litigation could rival the $12 billion spent cleaning up Enron.
Income Tax officials probing alleged financial irregularities in the cash-rich IPL on Thursday claimed to have found some "incriminating" documents during searches at the offices of Kolkata Knight Riders and Cricket Association of Bengal.
The Aam Aadmi Party dismissed the allegation as "baseless" and claimed it was "another conspiracy hatched by the BJP" to tarnish AAP's image ahead of voting for Lok Sabha seats in Delhi and Punjab.
The 1.4% decline projected for 2025 is driven by a 5.6% (72,000) dip in the strength of railway employees to 1.2 million by next year.
In the case of double-income couples, not more than 40 per cent of the net income of one partner should be the EMI for the property.
It is important to have the necessary documents on hand to verify the information in the form.
Enhancing your credit score is the key to improving loan eligibility and securing a favourable interest rate.
The RBI now brings in important and contentious changes directly through voluminous Master Directions, or Master Circulars
Anamika Pareek answers five most frequently asked questions about investing in silver ETFs
The income-tax department is set to launch a screen-based automated reconciliation system for plugging mismatches between returns filed by taxpayers and information processed by the department.
Purchase health insurance at an early age, before you incur a disease, as this makes access to health insurance difficult and raises the premium significantly.
Crucial reforms in Muslim personal law, especially laws related to inheritance and adoption, need to be initiated forthwith; historically speaking, without the State's backing, hardly has any reform taken place or allowed to prevail, asserts Mohammad Sajjad.
Finance Minister Nirmala Sitharaman will present her sixth straight Budget ahead of the Parliamentary elections, matching the record of former Prime Minister Morarji Desai. Sitharaman in her pre-election Budget, which technically is a vote on account and popularly termed an interim Budget, will seek Parliament's nod for a grant in advance to meet the central government's essential expenditure for the first four months of the new fiscal year that starts in April. A new government elected after the April/May general elections will present the full Budget, likely in July.
The Central Bureau of Investigation on Wednesday conducted searches at the premises of Sunak Bali, who was an aide of Satya Pal Malik when he was the governor of Jammu and Kashmir, and 11 other locations in Delhi and Rajasthan in the alleged insurance scam case, officials said.
Ensure the employer has all relevant documents. Else, your pay will take a serious hit in the next two months.
Borrowing from a fraudulent loan app subjects the borrower to a variety of risks.
The Sports Ministry has given the Indian Olympic Association time till Thursday to submit a comprehensive document with all the financial details if it wants to get the government's permission to bid for the 2019 Asian Games.
The draft transaction documents for sale of 51 per cent stake in Engineers India Ltd to a strategic partner have been finalised.
The Mumbai police on Monday submitted a chargesheet before a special court in Mumbai against Pakistani-origin Canadian businessman Tahawwur Rana for his involvement in the November 2008 terror attacks in the metropolis.
Policy owners need to avoid errors on their part to prevent claims from being denied.
The mother of the minor in the Porsche car accident case was arrested after confirmation that his blood samples were replaced with hers, Pune police chief Amitesh Kumar said on Saturday.
ECL Finance Company MD and three officials were on Tuesday quizzed for nearly eight hours by the Raigad police in Maharashtra probing the alleged suicide of film art director Nitin Desai, an official said.
The Income-tax department has conducted searches at multiple premises of Chinese telecom company Huawei in the country as part of a tax evasion investigation, official sources said on Wednesday. The raids were launched at the company's premises in Delhi, Gurugram (Haryana) and Bengaluru in Karnataka on Tuesday. Sources said the officials looked at financial documents, account books and company records as part of a tax evasion investigation against the company, its Indian businesses and overseas transactions.
A prudent guideline for self-employed individuals is to target at least 10 to 15 times their actual annual income when determining life insurance coverage.
A new schedule has been added to report income from cryptocurrencies and other Virtual Digital Assets.
'We are looking at the next target which is to be a $1 billion ARR firm in the next 4-5 years.'
Among index funds, the most popular products are funds tracking the Nifty 50 and Sensex, says Dwaipayan Bose, and explains the finer points of selecting the right index mutual fund.
A readout of the meeting reportedly said Lord Johnson "made clear that he was keen to see a bigger Infosys presence in the UK and would be happy to do what he could to facilitate that".
The Indian Navy on Monday unveiled a 15-year plan to boost maritime infrastructure even as Chief of Naval Staff Admiral R Hari Kumar said the force is working with the Army and the IAF to ensure tri-services jointness and integration to meet future challenges.
rediffGURU and financial planning expert Colonel Sanjeev Govila will answer your personal finance-related questions.
Group term insurance is far more cost-effective than an individual cover.
"Why do we have to bother ourselves and correct somebody else's mistakes?" Putin asked during an interview.
It's tax returns season. Ask our tax experts Mihir Tanna, Hardik Parikh, Tejas Chokshi and Sanjeev Govila.
The Delhi government will set up special camps for those who lost their Aadhaar cards and other important documents, and make arrangements for books and clothes for the affected children, Chief Minister Arvind Kejriwal announced on Sunday.
French authorities launched a judicial investigation into the conditions and purpose of the trip, with a unit specialising in organised crime investigating suspected human trafficking.
Adequate tax planning in the first week of the financial year can help you reap rich rewards. Investors can consider the following investments for 2008-09. Public provident fund - a 15-year scheme, where you can invest up to Rs 70,000 each year, for deduction under section 80C. Equity linked saving schemes is also exempted under section 80C. Five year fixed deposits too are profitable options. A shortfall in the number of installments would lead to increase in tax liability.
