Chandigarh Police have launched an investigation into a fraud involving fake fixed deposit receipts (FDRs) worth 116.84 crore, allegedly issued by a private bank manager, impacting the Chandigarh municipal corporation's funds.
The Enforcement Directorate has attached assets worth over 441 crore in connection with the Andhra Pradesh liquor scam, which allegedly occurred during the previous YSRCP government's tenure.
Government agencies probing the Satyam accounting fraud are in possession of what may well be forged letters from banks certifying that they had issued those FDRs. Sources in one of these banks told Business Standard that it had not issued any letter certifying the existence of FDRs to Price Waterhouse. A Price Waterhouse team may soon make a presentation to the new government-appointed board of Satyam and explain how it relied on the documents.
Cross-check key documents, maximise your deductions, avoid errors, and ensure you get your refund smoothly.
Errors in filing income-tax returns frequently lead to scrutiny notices, additional liabilities, or delayed refunds.
Customers must sign the agreement promptly to avoid disruptions. They should read it thoroughly and understand their rights and obligations.
'Now we have one of the best asset qualities in the industry.'
Leading stock exchanges BSE and NSE on Friday decided to drop Yes Bank from Futures and Options segment from May 29. The existing Futures and Options contracts across all expiries will expire on May 28.
The Securities and Exchange Board of India is all set to begin the proposed peer audit review of the companies that form the Sensex and Nifty benchmark indices.
The recent default on deposit payments by a couple of Yash Birla Group companies has brought to surface difficulties an investor has to face in recovering his money.
Stocks to watch: BHEL, L&T, IRB Infra and Suzlon
Don't solely focus on tax-saving alone.
Appellate tribunal NCLAT on Monday stayed the Rs 200 crore penalty imposed by the Competition Commission on Maruti Suzuki but directed the car maker to deposit 10 per cent of the total amount within three weeks. The amount has to be deposited with the Registrar of the National Company Law Appellate Tribunal (NCLAT). A three-member NCLAT bench stayed the demand notice issued on October 27 to the car maker, subject to the condition of depositing 10 per cent of the penalty amount.
The Enforcement Directorate on Tuesday alleged that Dravida Munnetra Kazhagam leader and Tamil Nadu Higher Education Minister K Ponmudy issued "illegal" red sand mining licenses to his MP son, relatives and some benami holders, and that huge amount of "hawala" funds generated from this mining business was used to purchase companies abroad.
What if you could have an option apart from personal loan in times of crisis?
According to a report by the Association of Democratic Reforms, the ruling party's assets rose to Rs 1,483.35 crore in 2017-18 over its previous financial year's declaration of Rs 1,213 crore.
'We are confident that over the next few years the government will strike a fine balance between populist measures and growth, and manage coalition partners well.'
The ED will soon file a complaint under the Prevention of Money Laundering Act (PMLA) to probe criminal proceeds of crime that were allegedly generated by Dubey, his associates and family members and if this money was subsequently used for creation of illegal movable and immovable properties.
"The DMK is not worried a wee bit," he said on the ED searches. Such an action by the ED was 'usual, ordinary and a drama' enacted to divert attention.
The Delhi high court has permitted Bollywood actress Jacqueline Fernandez, against whom a lookout notice was issued by the Enforcement Directorate in connection with an alleged money laundering case, to travel abroad for IIFA awards subject to certain conditions.
Be mindful that each instrument is governed by a different set of gifting rules and is also taxed differently.
Amit Shah's net worth grew 32 per cent to Rs 37.91 crore, mainly due to 80 per cent appreciation in the market value of his securities.
All the accused moved their bail pleas before the court which granted the relief to them. Jaitley was also present in the court room.
In its quest to paint a rosy picture on the health of Indian cricket, Board of Control for Cricket in India president N Srinivasan and former treasurer Ravi Savant's note in the Board's Annual Report doesn't have a single mention of the spot-fixing scandal that rocked the sixth edition of the Indian Premier League.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Many senior citizens fail to disclose certain incomes like interest, commissions, or dividends in their ITRs.
The Securities and Exchange Board of India (Sebi) has proposed measures mandating daily upstreaming of all investor funds from stockbrokers to clearing corporations (CCs). The step, aimed at reducing risk on client funds, will further deplete brokers' revenues as they will lose interest income with transfers being done daily. At present, stockbrokers convert the surplus funds into bank guarantees (BG) or fixed deposit (FD) receipts which earns them extra income.
'The corruption charges in FCI are not the first and won't be the last.'
Some people have tried to secure their unaccounted cash by donating it to temples by taking its management into confidence and making receipt of such donations as anonymous donors
Banks have taken this aggressive posture even as liquidity has become comfortable on the back of increased government spending.
Total scam in collusion with middlemen is estimated at over Rs 700 crore. Probe is on in 10 more cases.
They say new rules that make over-billing by private hospitals a criminal offence will hurt their ability to treat patients properly, says Subir Roy.
CBI has registered three FIRs in West Bengal against Saradha group and 44 FIRs in Odisha against chit fund companies allegedly operating on the lines of Saradha.
Demonetisation is the biggest reason for the rise in preference for small savings.
The searches are in connection with alleged violation of foreign direct investment norms that is linked to an earlier case of revocation of Foreign Contribution (Regulation) Act licence of the NGO by the Union home ministry in 2010, the ED said.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Provide necessary documents. Be calm and confident.
If a salaried employee does not possess Form 16, he can still file the I-T Return with the help of his salary slips and Form 26 AS.
Proper documentation can help take half the pain out of filing your income tax return, says Amar Pandit.
Tax Guru Anil Rego answers your personal income tax queries.
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