The government's capital expenditure in the April-November period of financial year 2024-25 (FY25) continued to contract with a 12.3 per cent decline year-on-year (Y-o-Y), according to data released by the Controller General of Accounts on Tuesday.
'Each side could consider challenging the NCLAT's stay order before the Supreme Court.'
As the US gets tougher with visas, the prayers of US-bound devotees in India are getting more fervent, and their purse strings looser. Called Visa Hanuman temples (there are half a dozen all over India), some of them ask for a 'fee'.
Gross GST collection grew 9 per cent to over Rs 1.87 lakh crore in October on higher revenues from domestic transactions. The Central GST collection stood at Rs 33,821 crore, State GST at Rs 41,864 crore, Integrated IGST at Rs 99,111 crore and cess at Rs 12,550 crore.
Adani Green Energy Ltd, the renewable energy arm of billionaire Gautam Adani's conglomerate, on Thursday scrapped a Rs 600 million bond issue after its promoter was charged in an alleged bribery case in the US. Hours before the US prosecutors charged Gautam Adani and associates with participating in a scheme to pay over Rs 250 million bribe to Indian officials in exchange for favourable terms for solar power contracts, the firm sold a 20-year green bond in the US-investment-grade market.
Defying the bearish sentiment in the markets on Monday, ICICI Bank's share price rose by 2 per cent, reaching an intraday high of Rs 1,234.4 per share on the BSE. With a 1.5 per cent gain at the close, the stock emerged as the top performer on both the BSE Sensex and the National Stock Exchange Nifty 50 indices.
Link your UPI app to a separate bank account or wallet that has only a limited sum.
Net direct tax collection grew 18.3 per cent to about Rs 11.25 lakh crore as of October 10 this fiscal, government data showed on Friday. The mop-up includes personal income tax collection of Rs 5.98 lakh crore and corporate tax collection of Rs 4.94 lakh crore.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Submitting a late return helps you stay compliant with tax regulations and avoid legal issues.
Net direct tax collection grew 19.54 per cent to over Rs 5.74 lakh crore so far this fiscal on higher advance tax payment by corporate. The first instalment of advance tax, which was due on June 15, rose 27.34 per cent to Rs 1.48 lakh crore. This includes Corporation Income Tax (CIT) at Rs 1.14 lakh crore and Personal Income Tax (PIT) at Rs 34,470 crore.
Capital markets regulator Sebi on Wednesday said it will auction 27 properties of Rose Valley group of companies on November 25 at a reserve price of Rs 63.26 crore in a bid to recover money raised by the firm from the public through illicit schemes. The properties to go under the hammer include flats, buildings, land parcels and hotels located in West Bengal and Bihar, the Securities and Exchange Board of India (Sebi) said in a notice. The e-auction will be conducted on November 25 between 11 am to 1 pm.
UPI-related frauds have accounted for a cumulative loss of Rs 2,145 crore across 2.7 million reported incidents.
In a recent clarification, the Central Board of Indirect Taxes and Customs (CBIC) provided insights into the goods and services tax (GST) treatment of transactions involving vouchers. According to the CBIC, vouchers can be categorised into two types.
Subramanyam's mother, who immigrated through Dulles Airport, watched her son being sworn-in on the Bhagavad Gita.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
'A government whose policies are focused around making the life of ordinary citizens, specially the most deprived sections, richer; a government that prioritises education, health and transport, that doesn't treat its citizens as subjects who must come to it for everything, is rare in our country.' 'When such a government is thrown out, one is left stunned,' notes Jyoti Punwani.
International airlines are offering affected passengers an option of refund, vouchers, discounts on future bookings, and the opportunity to hold tickets for up to two years following travel bans.
The Supreme Court on Wednesday rejected the Centre's plea for prospective effect of its July 25 verdict, which upheld the power of states to levy tax on mineral rights and mineral-bearing land, and allowed them to seek refund of royalty from April 1, 2005 onwards.
GST collections in July rose 10.3 per cent to over Rs 1.82 lakh crore, mainly driven by domestic transactions in goods and services, according to official data released on Thursday. This is the third-highest-ever monthly collection recorded since the indirect tax regime was rolled out 7 years ago on July 1, 2017. According to the data, total refunds stood at Rs 16,283 crore in July.
Candidates from the Maha Vikas Aghadi (MVA) opposition alliance in Maharashtra have decided to seek verification of the EVM-Voter Verifiable Paper Audit Trails (VVPATs) units in their segments, following their defeat in the recent assembly polls. The move comes after several losing candidates, including those from the Shiv Sena (UBT), alleged that the Electronic Voting Machines (EVMs) might have been tampered with. The MVA, comprising the Shiv Sena (UBT), Congress, and NCP, lost to the Mahayuti coalition, which includes the Shiv Sena, BJP, and NCP. The MVA candidates are seeking verification based on a Supreme Court ruling that allows for checking the burnt memory/microcontroller in 5% of EVMs after the announcement of results.
The number of cyberfraud cases has skyrocketed from 2,677 in 1999-2000 to 29,082 in FY24 -- more than a 10-fold increase. The RBI pegs digital payment frauds at Rs 1,457 crore in FY24, up more than five times in a year. It's not just the number of frauds. What's alarming is the growing sophistication of the fraudsters, exposing the vulnerabilities within the financial system, observes Tamal Bandyopadhyay.
He was a formidable musician but seemed utterly human, a Peter Pan who wore his genius with deceptive lightness. Sandip Roy remembers Ustad Zakir Hussain.
The airport had temporarily suspended operations on Saturday due to strong winds and heavy rainfall caused by cyclones.
When Kasturi Rajamurty won a gold medal in powerlifting at the WPPL World Cup in Russia, she sure had come a long way. From a life of penury to constantly being short of funds to fuel her passion, she had finally triumphed, and how.
Scammers sometimes misuse personal information collected during tax preparation, leading to identity theft or unauthorised financial transactions.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
'Tax officials view most taxpayers as evaders.' 'The I-T department has a perverse incentive to raise unreasonable demands since the one-fifth tax collected counts towards officials' collection targets,' observes Harsh Roongta.
The bench referred to three reports submitted by the cyber cell police which said the beneficiaries were added to the bank account without any message or OTP received on the registered mobile number and email to the registered email account.
Net direct tax collection grew 21 per cent to over Rs 4.62 lakh crore so far this fiscal, on higher advance tax payment by corporates.
'So far, the government has sanctioned more than Rs 300 billion as GST refunds,' Ansh Bhargava and Aditya Singhania point out.
The Supreme Court on Friday got irked over a lengthy judgement penned by a single judge bench of the Delhi high court in a case related to an arbitral award involving media baron Kalanithi Maran and SpiceJet, saying there was no "application of mind". Suggesting that the case be now transferred to another judge by the Delhi HC, the top court said the judgement "has to be carefully articulated" and "the judge must apply mind to grounds of challenge and then deduce if interference is warranted". The strong observations against the single judge bench came from a bench headed by Chief Justice D Y Chandrachud during the hearing of an appeal by Kalanithi Maran and Kal Airways against a Delhi high court order setting aside an arbitral award asking the SpiceJet to refund Rs 579 crore plus interest to the media baron and his firm.
Keeping surplus money in a bank account has become perilous, alerts Harsh Roongta.
In a major relief to passengers, whose flights got cancelled due to the Covid-19 lockdown, the Supreme Court on Thursday accepted the recommendations of the Director General of Civil Aviation (DGCA) to refund ticket fares and also approved a credit shell scheme which will be valid till March 31.
UK-based Cairn Energy PLC on Wednesday said it has agreed to drop litigations to seize Indian properties in countries ranging from France to the UK as it has accepted the Indian government's offer to settle tax dispute relating to the levy of taxes retrospectively. Meeting the requirements of new legislation that scraps levy of retrospective taxation, the company has given required undertakings indemnifying the Indian government against future claims as well as agreeing to drop any legal proceedings anywhere in the world. The government now has to accept this and issue Cairn a so-called Form-II, that will commit it to refund the tax collected to enforce the retrospective tax demand.
Air India, in a statement, said it has cancelled a "small" number of flights between November and December on account of delayed return of some aircraft from heavy maintenance and supply chain constraints, without naming the destinations.
As per the advisory of cyber-security agency CERT-In, a digital arrest is the one in which victims receive a phone call, an e-mail or a message claiming they are under investigation for illegal activities, such as identity theft or money laundering.
Without accounting for refunds, however, the collection contracted 5.4 per cent, indicating muted economic activity as the Covid-19 pandemic and subsequent curbs paralysed most sectors.
More than five years ago on an April evening, cash-starved Jet Airways announced temporary grounding of operations after flying as a full service airline for 25 years. Since then, more than 20,000 jobs and money worth thousands of crores owed to lenders, vendors and passengers evaporated while awaiting an insolvency resolution. And today, the Supreme Court ordered the airline's liquidation, marking the formal completion of a turbulent journey into the sunset and shattering lean revival hopes.
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