As part of government's efforts to reach out to the Bharatiya Janata Party over the nuclear liability bill, National Security Adviser Shivshankar Menon met senior leaders of the main opposition party on Wednesday, to allay their apprehensions but failed to convince them.
Justices G S Sandhawalia and Harpreet Kaur Jeewan also held the Haryana State Employment of Local Candidates Act, 2020 "ultravires" and said it will become "ineffective from the date it came into force".
If a citizen chooses not to use Aadhaar as the default unique identity, then other unique identity proofs masked and linked to Aadhaar would be used.
rediffGURU Sunil Lala answers your MF-related queries.
Sources in the Prime Minister's Office (PMO) told Business Standard that National Security Advisor (NSA) Shiv Shankar Menon will meet top leaders of the BJP and the CPI(M) to explain the salient features of the Bill.
The much-debated Nuclear Liability Bill, crucial for operationalising the India-US civil nuclear deal, would be tabled in the Rajya Sabha on March 15, Minister of State for Atomic Energy Prithviraj Chavan has said.
The Reserve Bank of India is likely to take a call on the relaxations sought by HDFC Bank in relation to the merger, as the date of merger draws closer, sources said. The HDFC twins, which announced their decision to merge in April last year, received National Company Law Tribunal's (NCLT's) approval recently - a key milestone to close the deal in due time. The management of both the entities had said that it will take 15-18 months for the merger.
The Income Tax department has informed the Delhi High Court that Nokia India and Nokia Corporation owe it Rs 21,153 crore (Rs 211.53 billion) as total tax liability (existing and anticipated), including penalty during a seven-year period from 2006-2013.
'The approach towards Mallya is not right because his unit could have been turned around earlier with additional funds from his side and the bank's side.'
The stock of State Bank of India (SBI) may re-rate soon, believe analysts, if the lender manages to safeguard its net interest margin (NIM) going ahead. This, along with controlled credit costs, should aid the outlook of the stock which has been underperforming the markets for some time now. "We believe delivery of growth on guided lines, sustenance of NIMs near current levels, and controlled asset quality parameters aiding controlled credit costs should lead to strong profitability and drive re-rating of the stock," said analysts at JM Financial.
September 15 is the deadline for paying the second instalment of advance tax. This is income-tax (I-T) taxpayers need to pay every quarter, instead of a lump sum at the end of the year. Ashutosh K Srivastava, senior associate, SKV Law Offices, says, "The tax has to be usually paid when income is earned. "Nonetheless, according to the I-T Act, the taxpayer has to estimate his income for the entire financial year. Based on that, he/she pays tax at specific intervals."
You can reduce your tax burden by wisely using partially taxable allowances, suggests Bindisha Sarang.
Accusing the Congress of creating obstacles in the path of growth and economy, he declared that the government would try to get the bill passed with the help of parties
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
The prosecution said the officer had initially made a demand of Rs 1,30,000 in March 2015 to settle the tax liability of the complainant, who runs a partnership firm.
As many as 267 of 453 companies from the BSE500 index are trading above their consensus price targets, according to the data compiled by Bloomberg. Not all companies in the BSE500 index are tracked by analysts.
Between March 2022 and September 2023, HDFC Bank added 56,310 employees.
Populism gains momentum during election periods, and this trend is evident in at least four states: Telangana, Rajasthan, Madhya Pradesh and Chhattisgarh.
The Union Cabinet on Wednesday approved changes to GST laws to levy a 28 per cent tax on the full face value of bets in online gaming, casinos and horse race clubs, sources said. The amendments to the Central GST (CGST) and Integrated GST (IGST) acts, which were approved by the GST Council last week, are likely to be introduced in the ongoing monsoon session of Parliament, which will end on August 11. The GST Council in its 51st meeting on August 2 recommended amendments to the Schedule III of the CGST Act, 2017, to provide clarity on the taxation of supplies in casinos, horse racing and online gaming.
As political winds stir in these states, it's prudent to assess their economic landscapes.
'We have a plan to plough back a 'This year in the first half we had profits of more than Rs 31,000 crore.' significant amount of profits this financial year.' 'We have seen this organic plough back of profit is one of best ways to support the equity of the bank.'
Ravi Singhal explains how a taxpayer can go about reducing her/his tax liability if they suffer losses while investing or trading in the stock market.
While movie stars like Akshay Kumar, Amitabh Bachchan and Salman Khan are among the top I-T payers, very few of the wealthiest Indians figure on the list.
The Rs 500 crore cap in the event of an accident, proposed in the controversial nuclear liability bill, could be raised as part of government's efforts to address concerns of the opposition over the issue. Indications to this effect were given by government officials at a meeting of the Parliamentary Standing Committee on Science and Technology and Environment on Tuesady.
The passing of the nuclear liability bill will be a political and diplomatic victory for Prime Minister Manmohan Singh at a time when he is being seen as getting weaker and his government is drifting on all major national challenges like price rise, Kashmir and Naxalism.
The banking system's liquidity slipped into deficit for the first time in the current financial year (2023-24) due to the imposition of the Incremental Cash Reserve Ratio (I-CRR) for banks and outflows from goods and services tax (GST) payments, according to dealers. Reserve Bank of India (RBI) data shows it injected Rs 23,644 crore on August 21. The last time liquidity was in deficit was on March 27, when the RBI injected Rs 45,575 crore.
23-year-old MBA student-cum-entrepreneur Sidharth Nambiar discusses how he manages both studies and business.
There are over 1.36 lakh employees, including employees and pensioners under the new pension scheme.
United States has said it is looking at India to see what changes can be made in certain provisions in the Nuclear Liability Bill, which was recently passed by the Parliament.
The states have outstanding liabilities of a whopping Rs 59,89,360 crore as on March 31, 2021, and the new sources of risk have emerged in the form of rising expenditure on non-merit freebies, the Supreme Court was told on Thursday by a PIL petitioner opposing irrational handouts.
NPC director Jagdeep Ghai told reporters on Monday, "NPC, in the wake of passage of the civil nuclear liability bill, will set up a corpus of Rs 1,500 crore to provide financial security, from its cash reserve of Rs 12,000 crore (Rs 120 billion).
Science and Technology Minister Prithviraj Chavan, who is in-charge of Department of Atomic Energy, said the country lacks a law under which compensation could be awarded in the case of a nuclear accident.
The Reserve Bank India's (RBI's) decision to ban the onboarding of new accounts on the "bob World" mobile digital platform led to a selloff in the Bank of Baroda (BoB) stock. The stock of the public sector bank dropped by around 3 per cent. The central bank cited "material supervisory concerns"; news reports claimed mobile numbers were randomly linked to accounts to purportedly inflate registrations on bob World.
The one message that the Congress party wants the Prime Minister's Office to take heed of, following the tumultuous first phase of this year's Budget session, is that the PMO should be more helpful in facilitating political management for the party.Despite the government bending over backwards to explain that the Civil Liability for Nuclear Damages bill was a mandatory legislation -- no matter which country India wanted to engage with in is unconvinced.
"We will raise Rs 300 crore via bonds of two-, three- and five-year tenures. This will be our maiden bond issuance and is part of our effort to widen funding sources," says Vimal Bhandari, executive vice-chairman and chief executive officer (CEO), Arka Fincap. The firm, a subsidiary of Kirloskar Oil, is only five years old and small (assets of around Rs 5,000 crore with an "AA" rating), but the response to this float will be closely watched: It would be the first by a non-banking finance company (NBFC) after Mint Road upped the risk weights on bank exposures to them by 25 percentage points. The move by the Reserve Bank of India (RBI) has caught NBFCs off guard even though the issue had been flagged by Governor Shaktikanta Das with their corner-room occupants (and that of banks) in July and August 2023 - on consumer credit and the dependency on bank borrowings.
Issuing a slew of directions, a bench of Justices S Ravindra Bhat (since retired) and Aravind Kumar asked the central and state governments to pay Rs 30 lakh as compensation to the next of kin of those who die while cleaning sewers.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) will answer your personal finance-related questions.
The country's largest software exporter TCS on Wednesday reported a 16.83 per cent jump in its June quarter consolidated net profit to Rs 11,074 crore. The Tata Group company had reported a net profit of Rs 9,478 crore in the year-ago period and Rs 11,392 crore in the preceding quarter. Its revenue from operations increased 12.55 per cent on a year-on-year basis to Rs 59,381 crore and was marginally up from the preceding March quarter's Rs 59,162 crore.
The Gujarat high court agreed to the Oreva group's offer on Wednesday to pay compensation to the victims of the Morbi bridge collapse that left 135 dead and several injured but said it will "not absolve it of any liability".
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