The claims will include three kinds of liabilities: Damage to the aircraft; loss of lives who were aboard the aircraft; including the crew members; and third-party liability because of loss of lives where the aircraft crashed; and cargo liability.
'If a charitable or religious trust sells a capital asset -- such as land, buildings, shares -- and makes a capital gain, it can avoid paying tax on that gain if it reinvests the proceeds in another capital asset for its charitable purposes.'
Some public sector banks, including State Bank of India (SBI), Union Bank of India, Canara Bank, and Bank of India, are increasing the spread on home loans for new customers to protect margins.
'In case a particular industry has not passed on the benefits and if we receive complaints, we will take up the matter with the industry body concerned.'
A 35-year-old 'sevadaar' at the Kalkaji temple in Delhi was allegedly beaten to death after an argument over 'chunniprasad'. Police have arrested one person and are searching for others involved.
The Supreme Court has ruled that motor vehicle tax is not applicable if a vehicle is not used or kept for use in a 'public place'. The ruling came on an appeal challenging a judgement of the Andhra Pradesh High Court.
After the State Bank of India, Bank of India has classified the loan account of insolvent Reliance Communications as fraudulent and named its former director, tycoon Anil Ambani, citing alleged fund diversion in 2016, according to a regulatory filing. State-owned Bank of India granted a Rs 700 crore loan in August 2016 to Reliance Communications for its ongoing capital and operational expenditure and repayment of existing liabilities.
Families of victims of the Air India plane crash have hired a US law firm to explore legal options, seeking answers and accountability.
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.
Ask rediffGURU Reetika Sharma your insurance mutual fund and personal finance-related questions.
Public sector banks (PSBs) have written off bad loans of about Rs 5.82 lakh crore in the last five financial years, Parliament was informed on Tuesday. During 2024-25, the loan write-off of PSBs was at Rs 91,260 crore, compared to Rs 1.15 lakh crore in the previous fiscal, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Rajya Sabha.
Kudumbashree's new initiatives like onasadya, Onam kits and gift hampers are a huge hit.
You can't be the second-most expensive market in the world and deliver just 10 per cent EPS growth, points out Akash Prakash.
India Inc, which is sitting on cash balances of 13.5 trillion, is using the funds to meet capital expenditure as well as brownfield expansion, resulting in 'anaemic' demand for bank loans, State Bank of India (SBI) chairman CS Setty said at an event on Monday. He added that a slowdown in corporate credit is mainly due to lack of demand.
The contrast with the old Income-Tax Act is stark. The 1961 law ran into 512,000 words; the 2025 one pares that down to 259,000. Chapters have been cut from 47 to 23, while sections have reduced from 819 to 536. One of the clearest changes is terminological. The confusing twin concepts of 'assessment year' and 'previous year' have been scrapped.
We propose an expert group be set up to form a national strategy on digital fraud. This group would bring together skills in financial regulation, security economics, cyber defence, and public communications, and an understanding of the Indian financial and security systems. It should lay the foundations of a coordinated approach by the Indian State in fighting digital fraud, suggest Ajay Shah and Nandkumar Saravade.
Simplifying GST rates, removing exemptions, easing disputes, and speeding up refunds can boost investment in India and offer the best reply to Trump's tariffs, observes V S Krishnan, former member, Central Board of Indirect Taxes and Customs.
Ruling that Flipkart cannot "escape liability" as "mere intermediary" in an online purchase, a consumer commission here has found the e-commerce platform and television manufacturing company Thomson guilty of deficiency in service after a defective TV was delivered to a customer.
A Spanish court handed Brazil coach Carlo Ancelotti a one-year prison sentence for failing to pay tax on his image rights revenues in 2014 when the Italian was Real Madrid manager.
35,493 brides were killed in India between 2017 and 2022 -- averaging nearly 20 deaths a day -- over dowry demands, sometimes occurring even years after the wedding.
'The new Bill introduces no policy or rate changes, leaving financial planning strategies largely unaffected.'
'The considerations for choosing between the old and new tax regimes remain essentially unchanged.'
For the time being, the RBI is done with the cuts. A cut in October, which many are still predicting, is not certain. Of course, if growth nosedives, the script will be different, expects Tamal Bandyopadhyay.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
With the regulatory approval from the US Department of Energy in its kitty, Indian multinational conglomerate L&T is planning to focus on manufacturing small modular reactors (SMRs) to play a leading role in the commercialisation of nuclear energy in India.
Customers must sign the agreement promptly to avoid disruptions. They should read it thoroughly and understand their rights and obligations.
rediffGURU T S Khurana answers readers' personal income tax queries.
The Canara Bank on Thursday informed the Bombay high court that it has withdrawn its order classifying as "fraudulent" the loan account of a firm linked to industrialist Anil Ambani. After the bank's disclosure, a bench of Justices Revati Mohite Dere and Neela Gokhale disposed of the petition filed by Ambani challenging the bank's order, saying nothing survives in it.
'Geopolitically and diplomatically it's a very difficult situation for India.'
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
'$125 million for the hull and the remaining of over $350 million for liability.'
Possible convergence of interest among China, Pakistan, and Bangladesh may result in serious implications for India's stability and security dynamics, Chief of Defence Staff General Anil Chauhan said on Tuesday.
'The original provision will be restored. AMT is meant only for those claiming deductions, not for firms earning regular income like capital gains,' a senior government official said.
One of the most exploited provisions is Section 10(13A), which permits exemption on HRA.
The opposition has been demanding a debate on Operation Sindoor -- the strike on terror sites in Pakistan by the Indian armed forces in response to the terrorist attack in Pahalgam on April 22.
Some individuals opt for the new regime without a comparative analysis of the tax liability under the two regimes.
Government sources said amendments were being considered to the Atomic Energy Act to allow private sector participation and the Civil Liability for Nuclear Damage Act to limit the liability on suppliers of equipment to build atomic energy plants.
Many high-profile IPOs in India since 2021 have destroyed investor wealth due to overvaluation, weak business models, and post-listing disinterest, turning 1 lakh investments into as little as 3,500.
The nationality of the passengers onboard will define the minimum liability applicable to the airline operator as per the Montreal Convention, Prudent Insurance Brokers vice president (aviation & specialty lines) Hitesh Girotra said.
India's net direct tax collections contracted 1.3 per cent to about 5.63 trillion as of July 10, with corporate taxes dropping 3.7 per cent and non-corporate taxes recording a fractional 0.04 per cent contraction, Income Tax department data released on Friday revealed.
Errors in filing income-tax returns frequently lead to scrutiny notices, additional liabilities, or delayed refunds.
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