The income-tax (I-T) department has issued showcause notices under Section 68 of the Income-Tax Act to several startups over funds routed through Singapore, seeking explanations for investments received over the past five years, people familiar with the development said. The department is questioning the source, identity, and creditworthiness of overseas investors in these transactions, they said.
This would be a 100 per cent jump over 2024, when the state had logged tourist inflow of 650 million
Rishab Shetty's Kantara Chapter 1 is an ambitious, bold update of the ideas of the first film in a much bigger canvas, discovers Arjun Menon.
The Supreme Court acknowledged a clean chit from a special investigation team (SIT) regarding the Vantara zoological rescue and rehabilitation centre in Gujarat's Jamnagar, following allegations of irregularities.
'Despite assurance from China, none of the companies have received supplies from Chinese sellers.'
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Since items in the 12% category account for only about 5% of total GST, the additional boost to consumption may not be significant, points out M Govinda Rao.
These platforms carry with it the solemn duty of accountability to hold, otherwise it will imperil both the rule of law and the fabric of social harmony, the court observed.
Chartered accountant Nitin Kaushik's message to India's young workforce is clear: spend smart, save smarter and let money serve your goals.
'If nominal growth improves and earnings pick up, Indian stock markets could see a rally next year.'
Errors in filing income-tax returns frequently lead to scrutiny notices, additional liabilities, or delayed refunds.
The bail plea of fugitive diamonds trader Mehul Choksi, wanted in India in connection with over Rs 6300-crore fraud in the Punjab National Bank (PNB), has again been turned down by a court of appeal in Belgium, just ahead of his extradition hearing before a court in that country, officials said. The court rejected the appeal on strong reasons conveyed by the CBI to the Belgian prosecution that Choksi had escaped from many jurisdictions earlier as well to evade legal proceedings and may flee to another country if let out on bail, they said.
'Returning Indians can leverage their international skills and the strong funding environment for start-ups here.'
External Affairs Minister S Jaishankar says Operation Sindoor conveyed India's resolve to act against terrorism, following UN Security Council's call to bring Pahalgam attackers to justice.
'As long as Sebi maintains transparency and market stability, the Jane Street episode is unlikely to deter long-term foreign capital.'
Viresh Joshi, a former chief trader and fund manager of Axis Mutual Fund, has been arrested under the anti-money laundering law in a case linked to alleged cheating of investors to the tune of Rs 200 crore by 'front-running' in trade activities, the Enforcement Directorate (ED) said on Sunday.
The federal probe agency also said it seized Rs 12 crore in cash (including about Rs crore in foreign currency), gold jewellery worth Rs 6 crore, silver about 10 kg along with four vehicles following raids launched on Friday in multiple states.
India continues to remain an attractive investment destination and rise in repatriation of funds is a sign of a mature market where foreign investors can enter and exit smoothly, Reserve Bank Governor Sanjay Malhotra said on Friday. Gross foreign direct investment (FDI) inflows remained strong, rising by around 14 per cent to $81 billion in 2024-25, from $71.3 billion a year ago.
China accounts for about 70 per cent of global rare earth mining and nearly 90 per cent of rare earth magnet production, making it a dominant player and giving it significant leverage in global supply chains.
The crisis may not be as visible this time, but the stakes are just as high, points out Rajeswari Sengupta.
Last fortnight, State Bank of India Chairman C S Setty lifted the veil on a subject long spoken of in corporate corridors: Why can't our banks finance mergers and acquisitions (M&As)? Change is in the air: Indian Banks' Association (of which Setty is the chairman) is to "make a formal request" to Mint Road to make way for it. Thus far the exclusive turf of foreign banks even though its funding remains offshore - as in, it's not on these entities rupee-book (and a few select shadow banks) - a most lucrative segment in the investment banking suite, M&As, will be homeward-bound.
The stage is set for a direct contest between NDA nominee C P Radhakrishnan and joint opposition candidate B Sudershan Reddy for the vice-presidential election. The BJP-led alliance has a clear edge in the poll necessitated due to the sudden resignation of Jagdeep Dhankhar.
The bilateral trade between India and China has been growing at a healthy rate, but the trade gap remains sharply tilted in Beijing's favour. India has time and again flagged its concern over the ballooning trade deficit and the non-trade barriers faced by Indian goods in the Chinese market.
The Delhi High Court has dropped charges against 70 Indian nationals accused of housing foreign attendees of Tablighi Jamaat congregation in March 2020 allegedly in violation of COVID-19 norms, citing lack of evidence.
Country's largest lender State Bank of India (SBI) is looking to be among 10 top global banks in market capitalisation terms in the next five years, chairman CS Setty said on Wednesday. "The scope for value creation for the stakeholders is potentially very high. So the larger ambition is if the market supports whether we can be part of the top 10 global banks in terms of the market capitalisation (five years)," he said after listing of shares issued under Qualified Institutional Placement (QIP) at NSE.
Incidents in the maritime sector involving Indian seafarers, and foreign vessels in Indian waters rose by 21.6 per cent in 2024 to 186, highlighting the need to strengthen safety frameworks.
The Enforcement Directorate (ED) is investigating the assets and finances of Jalaluddin alias Chhangur Baba, the alleged mastermind of an illegal religious-conversion racket in Uttar Pradesh. The ED has written to various authorities and banks to gather information and is expected to seek custodial remand for questioning.
West Bengal Chief Minister Mamata Banerjee criticizes Delhi Police for referring to Bengali as 'Bangladeshi national language,' sparking political controversy.
'Why have we failed to address the issue of ensuring a requisite buffer zone in J&K, given that cross-border links of some J&K politicians are known?', asks Lieutenant General Prakash Katoch (retd).
Japan is expected to increase its investment target in India from the earlier 5 trillion yen ($34 billion) to almost 10 trillion yen.
To those who ask, "Is all this really worth it? Why can't domestic demand fill the gap?", it is important to remind them that only 13 economies since the Second World War have grown at 7 per cent or more for 25 years -- like India needs to. They all had one thing in common: Strong export growth underpinned by strong global engagement, explains Sajjid Z Chinoy.
'From tariff tensions and border skirmishes to unrest in West Asia.' 'The worst may be behind us. But any further upmove will now have to come from earnings.'
Among Sensex firms, Mahindra & Mahindra, Tech Mahindra, State Bank of India, Infosys, Adani Ports and ITC were the major gainers. However, Eternal, Sun Pharma, Tata Steel, Tata Motors, Bajaj Finance and Bharat Electronics were among the major laggards.
The stage is set for a direct contest between NDA nominee C P Radhakrishnan and joint opposition candidate B Sudershan Reddy for the September 9 vice-presidential election. Nominations have been scrutinized and accepted.
'BSE has facilitated nearly Rs 35 trillion in capital raising across multiple segments.'
'Listing of scaled Indian subsidiaries of multinational corporations as well as of Indian conglomerates continues to remain a key theme for IPOs in India.'
In response to the panic triggered by Trump's trade policies, the RBI net sold approximately $43 billion in the second half of FY25 to curb volatility, as the rupee plunged to a low of 87.95 per dollar in February this year.
The country's current account deficit widened marginally to $9.7 billion or 1.1 per cent of GDP in April-June 2024, as against $8.9 billion or 1 per cent in the year-ago period, Reserve Bank of India said on Monday. The crucial number representing the country's external sector strength has come on the heels of a surplus of $4.6 billion or 0.5 per cent of GDP recorded in the preceding January-March quarter. The Reserve Bank attributed the year-on-year widening in current account deficit to a rise in merchandise trade gap which was recorded at $65.1 billion in Q1 FY25 as compared to $56.7 billion in the year-ago period.
Promoters' ownership in private listed companies declined to an eight-year low of 40.58 per cent as of June 30, 2025, following a net share sale worth Rs 54,732 crore during the quarter, according to data from primeinfobase.com, an initiative of PRIME Database Group.
Trump, who has repeatedly said that he stopped the conflict between India and Pakistan through trade, last Friday said for the first time that "five jets were shot down" during the fighting.
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