Not filing an ITR or paying the tax dues on the deceased's behalf can lead to penal consequences.
A notification of the revised Schedule M rules by the Ministry of Health and Family Welfare has elicited mixed responses from the pharma sector and industry observers. While the industry has welcomed the revision of rules, several analysts said that implementation and compliance can become a challenge for smaller pharmaceutical companies. The Schedule M of the Drugs and Cosmetics Rules specifies the good manufacturing practices (GMPs), which aim to ensure quality of drugs made in the country.
The Insurance Regulatory and Development Authority of India (IRDAI) has removed the age cap on buying health insurance policies, effective from April 1, 2024. Earlier, individuals were restricted to purchasing new insurance policies only until the age of 65. However, after the recent changes that have come into effect from April 01, 2024, anyone, regardless of age, is eligible to purchase a new health insurance.
Launched in March, it triggers re-verification of suspected fraudulent numbers. Failing re-verification, the number will be disconnected.
The move by the insurance regulatory body aims to create a more inclusive healthcare ecosystem in India and to encourage insurance provider companies to diversify their product offerings.
Hospitals and blood banks can now only charge processing fees for blood as the apex drug regulator has decided to do away with all other fees to check the practice of overcharging.
From the Sensex basket, Larsen & Toubro, Maruti, Reliance Industries, Nestle, Bharti Airtel, UltraTech Cement, Kotak Mahindra Bank and JSW Steel were among the major laggards. Bajaj Finance climbed nearly 1 per cent higher.
Borrowing from a fraudulent loan app subjects the borrower to a variety of risks.
The guidelines are being drafted to dispel any misconception and raise awareness regarding spread of the disease from a deceased
Before framing regulations to curb 'misleading' messages and stock recommendations by finfluencers (a portmanteau of the phrase 'financial influencers'), the market regulator plans to put in place some 'building blocks' to ensure smooth enforcement. Madhabi Puri Buch, chairperson of Securities and Exchange Board of India (Sebi), is of the view that the 'traditional approach may not work' to rein in finfluencers. "There are many interlinked pieces in our regulations - investment advisor regulations, research analyst regulations, the fact that we don't have algorithmic (algo)-related regulations, what brokers are permitted to do, and what is incidental advice.
Bindra admitted that hopes will be high on the Indian shooting contingent in Paris after having notched up seven medals - India's best-ever tally - at the Tokyo Olympics.
International Cricket Council recommended a host of 'back to cricket' guidelines including 14-day pre-match isolation training camps to ensure the teams are free from COVID-19. Former India opener Chopra said it is still pre-mature to prepare a fixed set of guidelines for resumption of cricket as the situation is evolving 'every day'.
A Delhi court on Wednesday allowed the Central Bureau of Investigation (CBI) to formally arrest Chief Minister Arvind Kejriwal in the alleged excise scam.
'Have a long way to go even as a small finance bank, both in terms of size, and in terms of fulfilling our aspirations for financial inclusion.'
The counsel appearing for the state said it was aggrieved by some comments made in the high court order.
Juster said as democracies, the US and India are committed to a rules based order as well as to peace and diplomacy.
The Indian Olympic Association on Monday dissolved the ad-hoc committee for wrestling, saying "there is no further need" for it to continue after revocation of the suspension on the national federation, which now gets complete administrative control of the sport.
The Supreme Court on Tuesday asked various state governments to apprise it in six weeks on the action taken in incidents of mob lynching and cow vigilantism.
The suspended WFI, despite being warned of legal action by the Sports Ministry for organising the 'nationals', went ahead with the tournament in Pune from January 29-31.
Finance Minister Nirmala Sitharaman had in May announced that there will be a maximum of four public sector companies in strategic sectors, and state-owned firms in other segments will eventually be privatised.
The government is contemplating changes to the Insolvency and Bankruptcy Code (IBC) to deal with environmental claims and liabilities of defaulting companies to make the law future-ready and meet climate action goals, sources told Business Standard. Currently, the IBC has various categories of claims and creditors, including those related to environmental liabilities.
An order was issued to terminate 223 contractual employees of the Delhi Commission of Women after Lieutenant Governor V K Saxena gave his nod to a proposal on it, officials said on Thursday.
The Ministry of Heavy Industries on Monday announced the extension of the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components by one year with "partial amendments". This decision has been made after receiving the approval of the Empowered Group of Secretaries (EGoS). "In pursuance of the approval of EGoS, the Ministry of Heavy Industries has made partial amendments in the Production Linked Incentive (PLI) Scheme for the Automobile and Auto Component Industry and Guidelines of the Scheme.
The MSC Aries was last seen on Friday, sailing towards the Strait of Hormuz off the coast of Dubai, according to The Times of Israel.
The Reserve Bank of India (RBI), on Thursday issued orders restraining commercial transactions routed through intermediaries by a card network. The central bank, without naming the card network, said the intermediary with an arrangement with the network, did not have the authorisation to function under the Payment and Settlement Systems (PSS) Act. This led the regulator to suspend the arrangement till further notice.
In its first official engagement with the Indian government, Elon Musk-led Tesla and other global automotive (auto) manufacturers sought clarification on the new electric vehicle (EV) policy, specifically regarding investment guidelines and the timeline for the domestic value addition (DVA) requirement. Officials who attended the meeting told Business Standard that the original equipment manufacturers (OEMs) tried to understand whether the complete investment would be made within three or five years and the duration they would have to achieve the 50 per cent DVA. "The consultation meeting was convened to address queries from auto OEMs.
The court was hearing a public interest litigation seeking action against Gandhi as well as formulation of guidelines to prevent such 'malpractice' by political leaders.
Federal Bank on Thursday said the Reserve Bank of India has accorded approval to ICICI Prudential Asset Management Company Ltd () for acquiring up to 9.95 per cent stake in the bank. RBI accorded the approval subject to conditions on Thursday, Federal Bank said in a regulatory filing.
The Himachal Pradesh Bharatiya Janata Party Sunday filed a complaint against the Congress and the Hamirpur Youth Congress Club for allegedly portraying actor and BJP Lok Sabha candidate from Mandi, Kangana Ranaut, in a negative light by using pictures from her films.
The bottom lines of several private sector banks have taken a hit following the recent guidelines released by the Reserve Bank of India (RBI) on alternate investment fund (AIF) investments. Last month, the RBI announced that regulated entities, such as banks, non-bank lenders, and home financiers, cannot invest in AIFs that have directly or indirectly invested in companies that have borrowed money from the lenders. In case an entity had already made such an investment, they must liquidate the investment or make 100 per cent provision, RBI had said.
Most of the pharma units are failing in documentation, and validation processes, and many don't have full-fledged quality control laboratories.
Union Minister Nitin Gadkari said opening of transport and highways will go a long way in instilling confidence among the public and cautioned towards maintaining social distance and adopting all safety measures like hand wash, sanitizing, face masks, etc while operating buses and cars.
India currently does not have any XBB 1.5 variant-based vaccines available.
Company says that the employees should not post disparaging content about Cognizant
The Confederation of Indian Industry (CII) on Sunday urged Indian startups to keep their valuation "realistic" and distinguish between the goals of the organisation and its founder. "Startups may strive for long-term value creation rather than short-term valuations. "The valuations of businesses should be kept as realistic as possible," CII said in its Corporate Governance Charter for Startups.
The top court rapped the poll panel for not holding the by-election for the seat for such a long period despite the law mandating conducting polls expeditiously.
India's real estate market is poised for growth across categories - residential, commercial, and rental. Currently valued at Rs 24 trillion, or about $300 billion, it is projected to surge to $1.3 trillion by 2034, and then grow further to $5.17 trillion by 2047, indicates a report by the Confederation of Real Estate Developers Associations of India (Credai).
The states need to identify the children in distress through outreach and surveys and prepare a database with a profile of each child, along with the details of their specific needs and requirements, and ensure that the data is uploaded on the Track Child portal.
In a novel initiative aimed at increasing voter turnout in Haryana, the state election commission will send an invitation letter to every family in the state urging them to exercise their franchise in the Lok Sabha polls.
'For smaller merchants, there should be a process that is digital and a minimum KYC journey should be allowed.'
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