Yes Securities, the broking and investment arm of Yes Bank, on Wednesday said the Supreme Court directive on loan moratorium due to pandemic has brought the much needed clarity and there will not be any financial impact on the banks as the compound interest waiver is to be reimbursed by the government. On its verdict on a batch of pleas seeking moratorium extension beyond August 31, 2020, the apex court on Tuesday said it is a policy decision, refusing to interfere with the Centre's and RBI's decision to not extend the loan moratorium beyond the limit. However, it observed that the benefit of moratorium should go to all set of borrowers irrespective of the loan amount and asked to refund any amount collected as penal interest and compound interest during March-August 2020.
A bank account is a must to get the refund and those without it have been asked by Sebi to open an account with a scheduled bank.
We asked readers to write to us about how they fought with their colleges to get the refund of fees. Here's Mahavir Chopda's successful struggle against his institute.
Citibank has started refunding money to those who had invested in the fraudulent scheme run by its relationship manager at Gurgaon, Shivraj Puri. Many entities of the Munjal family, victims in this regard, got back their money in recent days.
Better protection for depositors and investors was one of the chief considerations in Union Finance Minister Nirmala Sitharaman introducing, on Friday, the Banking Laws (Amendment) Bill, 2024, in the Lok Sabha to amend four pieces of legislation. This amendment is also to improve audit quality in public-sector banks (PSBs), offer consistency in reporting by banks to the Reserve Bank of India (RBI), and provide for an increase in the tenure of directors in cooperative banks.
It is advisable to file your ITR right away and not rely on potential extensions.
Tax department plans to link PAN with the bank account number to eliminate the scope of the amount being transferred to a wrong account number.
During April-October 20 period, the tax department has made refunds to the tune of Rs 80,850 crore.
Sebi chief U K Sinha questioned the credibility and feasibility of Shara's refund claims.
The Supreme Court on Monday rapped Sahara group for not refunding Rs 27,000 crore to investors, who had put their money into its two companies.
A taxpayer who does not revise their return within the stipulated deadline would be stuck with the original return, including its errors.
Genuine investments identified so far is Rs.1.08 cr out of around Rs 24,000 cr.
Delay in receipt of income tax returns is the most registered grievance of taxpayers in the national capital with the I-T Ombudsman receiving almost 85 per cent complaints in this regard.
Taxpayers can expect faster refunds from the I-T department this year as the ambitious centralised processing centre of the department will start functioning to full capacity.
Recognising job creation for the youth as the foremost challenge for the economy, Finance Minister Nirmala Sitharaman on Tuesday announced a comprehensive Prime Minister's package to facilitate the employment and skilling of 41 million youth with a central outlay of Rs 2 trillion over the next five-year period. The package will consist of five schemes and initiatives - three focused on jobs and two on skilling.
'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.'
The great Wednesday clash between the year's big releases have been postponed by a day.
If you have any grievances or disputes regarding the demand stated in the notice, consider seeking professional help.
Wigan Athletic's players have agreed to refund the club's travelling fans after Sunday's humiliating 9-1 defeat at Tottenham Hotspur in the Premier League.
Sahara Group chief Subrata Roy passed away on Tuesday due to a cardiorespiratory arrest after a prolonged illness, a company statement said. He was 75. He was 75. According to the company statement, he passed away at 10.30 pm due to cardio-respiratory arrest following an extended battle with complications arising from metastatic malignancy, hypertension, and diabetes.
The Indian Institutes of Science Education and Research, Bhopal (IISER) is inviting applications from science students for its 5-year BS-MS programme and 4-year BS in Engineering Sciences and Economic Sciences.
Without identifying the airlines, official sources said notices had been issued to some carriers against which the Civil Aviation Ministry had received complaints. The sources said 'affirmative action' would be taken against carriers flouting the refund guidelines issued a few months ago.
DLF has sought the denotification of four of its IT/ITeS SEZs that were to come up in Haryana, Gujarat, Orissa and Kolkata, due to slowdown in the economy and liquidity crunch in the overall industry. The decision on the denotification would be taken on the June 2 meeting of the Board of Approval in the commerce ministry.
The Ministry of Heavy Industries (MHI) has debarred Hero Electric and Benling India, two defaulters under its flagship Faster Adoption and Manufacturing of Electric Vehicles in India Phase-II (FAME-II) scheme, from participating in any of its incentive programmes in future. This action follows the ministry's findings that the phased manufacturing programme (PMP) guidelines were violated by these two companies, senior officials told
Popular comedian Trevor Noah, who is in India for a comedy tour, called off two stand-up shows in Bengaluru due to 'technical issues' and apologised to the audience members for the inconvenience.
Though seven opportunities have been granted to the states, it appears that full compliance has not been affected and several states are in default, it said.
Taxpayers are filing their income tax returns (ITRs) early for the Assessment Year 2024-25 (FY25). By April 29, over 592,000 returns were filed, with over 538,000 verified and 367,000 processed. Early filing allows revisions without penalties.
Market regulator Sebi on Tuesday ordered Kolkata-based Saradha Realty India to close all its collective schemes and refund the money collected from investors within three months, amid continuing protests against the alleged fraudulent activities of the group.
The technical education regulating body plans to direct the institutions to refund the entire fee collected from the student after deducting processing fees, which cannot exceed Rs 1,000.
The Income Tax Department has put on its Web site the list of tax refunds that could not be sent to salaried taxpayers for want of correct address.
Argentina's friendly against Ivory Coast, scheduled to be held in Beijing in March, has been cancelled, the Chinese city's football association said on Saturday, following a backlash against Lionel Messi's failure to play in a match in Hong Kong.
The Income Tax Department will now process and send refunds in a short time of 7-10 days
Angry and disillusioned by the 'spot-fixing' allegations against Pakistani cricketers, upset fans in London are demanding ticket refunds while sponsors are having second thoughts about their investment in the sport.
The CBDT said this is "the final opportunity being provided to the taxpayers to regularise their pending ITRs pertaining to AYs 2009-10 till 2014-15.
The Finance Ministry said it has followed standard practice and has not violated any Constitutional provision by not showing interest on tax refund as separate expenditure in the Budget.
Commerce Minister Kamal Nath is pushing for a major policy change, one that would result in foreign travellers to India being refunded the value-added tax they pay on purchases made here.
The RBI on Wednesday barred Paytm Payments Bank Ltd from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, and FASTags, among others after February 29, 2024.
