Rejecting the charge that the National Democratic Alliance has done a U-turn on disclosure of names of black money holders, Finance Minister Arun Jaitley has said the government will not be pushed into an act of adventurism and jeopardise the chances of getting cooperation of other countries in future.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
'The new ceiling will cover around 93 per cent of all deposit accounts, up from 90 per cent earlier,' notes Tamal Bandyopadhyay.
The Supreme Court appointed Special Investigative Team, which is looking into the black money cases, on Thursday said it will go after the offenders "big or small" but also made it clear that the confidentiality of account holders abroad will not be violated.
Not just unclaimed bank deposits, there are thousands of crores of rupees locked in unclaimed shares and insurance policies lying with many institutions across India.
There has been criticism of the new tax forms with experts and consultants saying government was seeking too much data. They felt that the addition of new information would make the process of filing returns difficult.
If a couple is registered as joint owners of a property, the tax authorities expect both of them to show their income or capital gains from the house in their tax returns, says Arvind Rao, a chartered account and certified financial planner
The entire HSBC list features names of 1,668 Indians
Right to apprenticeship, legal guarantee for MSP, passing a constitutional amendment to raise the 50 per cent cap on reservations for SCs, STs and OBCs, a nation-wide caste census and scrapping of Agnipath scheme are among the promises made by the Congress in its Lok Sabha polls manifesto released on Friday.
Rahul also held a 75-km long road show and a Nukkad Sabha in Haridwar.
Ministry of Finance, Joint Secretary -- insurance, Anoop Wadhwa, had reviewed the progress of development of micro-insurance products at a meeting in the national Capital on Tuesday.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
They all seem to forget that the Music Academy is as much an independent institution as T M Krishna is an individual musician. In drawing those red lines for the Academy management, they do not even seem to recognise that they too have crossed a red line themselves, points out N Sathiya Moorthy.
The districts are Gondia (Maharashtra), Raj Nand Gaon (Chhattisgarh), Davangiri (Karnataka), South Goa, Wayanad and Kottayam (Kerala), West Imphal (Manipur), Rajouri (J&K), Aizwal West (Mizoram), Mahe in Puducherry, SBS Nagar in Punjab, Patna, Nalanda and Munger in Bihar, Pratapgarh in Rajasthan, Panipat, Rohtak and Sirsa in Haryana, Pauri Garhwal in Uttrakhand and Bhadradari Kothagudem in Telangana.
The key assets put on the block include its entire stake in Reliance General Insurance Company, the third-largest private sector insurer, and a 49 per cent stake in Reliance Nippon Life Insurance, a joint venture with Nippon Life, which is among the top five private-sector insurance companies.
Leading up to the International Women's Day on March 8, this is the first of a four-part series that talks about how women can invest to achieve their long-term financial goals.
Inching closer to resolving the Punjab and Maharashtra Cooperative (PMC) Bank issue, the Reserve Bank on Monday came out with a draft scheme for takeover of the crisis-hit bank by the Delhi-based Unity Small Finance Bank (USFB). The draft scheme of amalgamation envisages takeover of the assets and liabilities of PMC Bank, including deposits, by USFB, thus giving a greater degree of protection for the depositors, the RBI said. In September 2019, the RBI had superseded the board of PMC Bank and placed it under regulatory restrictions, including cap on withdrawals by its customers, after detection of certain financial irregularities, hiding and misreporting of loans given to real estate developer HDIL.
Murali Sreeshankar clinched a historic silver in men's long jump to give India its second medal in athletics at the Commonwealth Games in Birmingham on Thursday.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
'If I close my housing loan, are there any investment avenues (the investment should provide liquidity) to save tax?'
Taxpayers might face several issues while filing returns this year.
'If I don't fulfil promises made in it, I can be sent to jail,' he said.
The Securities Appellate Tribunal has stayed a Sebi order that barred Franklin Templeton's Asia Pacific head Vivek Kudva and his wife Roopa from the securities market for one year.
Many people struggle to claim or liquidate investments and insurance policies due to procedural issues.
While posting the matter on April 29, the bench asked the Solicitor General to take proper instruction from the Revenue Secretary and also respond "What prevented them (Centre) to comply with the directions."
Modi asserted that judicial reform is not merely a policy matter.
Sebi on Monday barred Franklin Templeton AMC from launching any new debt scheme for two years and fined it Rs 5 crore for violating regulatory norms in the case of winding up of six debt schemes in 2020. Also, it has been asked to refund investment management and advisory fees to the tune of Rs 512 crore, including interest, collected with respect to the six debt schemes, Sebi said in its 100-page order. In a separate order, the regulator has barred Vivek Kudva, former head of Asia Pacific (APAC) for Franklin Templeton, and his wife Roopa from the securities market for one year for redeeming units of Franklin Templeton MF schemes while in possession of non-public information.
These dedicated COVID-19 facilities will have a capacity of 1,06,719 isolation beds and 12,024 ICU beds reserved for such patients in the country.
While PNB did not name the other lenders, Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on letters of undertaking (LOUs) issued by PNB. Foreign bank branches too are under investigation.
The SIT was created by Supreme Court and notified by the government last year to curb black money.
SIT on black money on Monday decided to widen its probe as new names of Indians with Swiss bank accounts have come up
For ageing parents it is crucial to make a water-tight will.
'To save the LTCG, it's always better that the owner of the property that was sold also becomes the title holder in the new one.'
Modi and the Qatari Prime Minister, who is in New Delhi on his first visit, discussed enhancing cooperation in defence and security, in particular in cyber security and agreed on joint action to tackle money laundering and terrorist financing.
Enforcement Directorate is jointly probing the case.
The I-T department will rely on data analytical tools and run models to separate black money holders and genuine taxpayers based on the large data base being shared by banks.
The finance ministry is working on a second relief package for the Indian economy hit hard by the coronavirus outbreak and the 21-day nationwide lockdown imposed to curb the contagion, sources said. Last month, the government announced a Rs 1.70 lakh crore relief package in the form of foodgrains and cash transfers for the poor and vulnerable section of the society to help them deal with the hardships caused by the lockdown. Now, the government is working on a stimulus to be given to hard-hit sectors of the economy after the lockdown is lifted, sources said, adding that an announcement is expected in the next few days depending on the severity of the pandemic.
