Amount more than twice the size of Sahara's; collective investment scheme operator has 3 months to return money and wind up.
Reliance Haryana SEZ, a joint venture between Reliance Ventures Ltd -- an Reliance Industries subsidiary, and Haryana State Industrial and Infrastructure Development Corporation has so far bought 7,001 acres of land in Jhajjar district and about 1,200 acres and 1,383.68 acres of HSIIDC land in Gurgaon.
The guidelines for regulating coaching institutes have been framed to address the need for a legal framework and manage the unregulated growth of private coaching centres.
Higher online filing of returns that is expected in the ongoing financial year will enable faster processing of claims and hence a further increase in refunds.
Jet Airways, which is involved in a tussle with its failed takeover target Air Sahara, on Tuesday failed to get respite from an Arbitration panel on its plea for refund of Rs 500 crore (Rs 5 billion) paid as advance.
Tax payers got of Rs 17,600 crore (rs 176 billion), representing a 52.01 per cent growth over Rs 11,578 crore (Rs 115.78 billion) given in the first three months of last fiscal.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
I-T Dept cleared Rs 23,000-crore refunds in direct taxes.
With education getting more expensive, disputes are on the rise. But with patience, some understanding of the law and all your documents, it is easy to get a refund. Here's how six students did it.
The Income-Tax department will soon start updating taxpayers about the status of their I-T refunds and processing of certain tax statements by sending real-time SMSes and emails, on similar lines as that of credit card and bank transactions at present.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
A bench headed by Chief Justice Altamas Kabir, which had earlier extended the deadline to two companies of the group for refunding the money from November end to first week of February, refused to grant more time.
Many senior citizens fail to disclose certain incomes like interest, commissions, or dividends in their ITRs.
The Directorate General of Foreign Trade on Monday notified Duty Entitlement Pass Book Scheme (refund of local taxes) on cement exports. The commerce ministry had lifted the 46-day old ban on cement exports on May 27. However, it had allowed shipments only through ports in Gujarat. The state accounts for 95 per cent of the total cement exports.
The Sahara group today moved the Supreme Court seeking review of the verdict ordering it to refund Rs 24,000 crore, raised from investors through Optionally Fully Convertible Debentures (OFCDs).
Taking note of numerous complaints on refund on air tickets, the government on Thursday issued a new set of rules which stipulate that the amount should be refunded within seven days of the tickets being cancelled. The Directorate General of Civil Aviation (DGCA) issued the rule or Civil Aviation Requirement (CAR), making it effective forthwith.
The government on Saturday notified refund of tax paid by exporters on three additional services of general insurance, technical testing and analysis, and inspection and certification -- a move that will provide much- needed respite to businesses hit by an appreciating rupee.
The income tax department has selected database software major Oracle to enable online delivery of tax payer services including faster processing of returns, expeditious refund of claims and quicker investigation.
Private airlines collecting taxes from travellers other than the passenger service fee will be penalised and made to refund such money, Civil Aviation Minister Praful Patel told Lok Sabha on Thursday. Patel made it clear that the government did not regulate the air fare levied by Airline companies. The government only levies Rs 221 as passenger service fee which is used for security of airports and to cover other related expenses, he said.
A new schedule has been added to report income from cryptocurrencies and other Virtual Digital Assets.
In a major setback to the Sahara Group, the Supreme Court on Friday directed two of its companies to refund around Rs 17,400 crore to their investors within three months with 15 per cent interest.
'Tax is not required to be deducted from specified payments if a recipient files a self-declaration with the deductor for no deduction of tax.'
Finance Minister Pranab Mukherjee has rejected a proposal by Communications Minister A Raja for refund of the Rs 29,598 crore paid by state-owned Bharat Sanchar Nigam Limited and Mahanagar Telephone Nigam Limited for third generation (3G) and broadband wireless access (BWA) spectrum.
Riding on the back of large capital inflows both in the stock market and through the foreign direct investment route, the Indian currency has appreciated by over seven per cent in the first six months of the current financial year.
A nine-day Kashmir trip ended on a sour note for the Shah family of Ahmedabad with an unscheduled diversion and an expensive road ride back home. The Shahs were among hundreds of passengers whose travel plans went awry with Go First suspending all flights till Friday. "We were supposed to travel from Srinagar to Ahmedabad via Mumbai on Tuesday.
The Supreme Court has sought responses of the Centre, CBI, the Enforcement Directorate and others including 13 states on a plea alleging fraudulent activities by motivational speaker Vivek Bindra and his firm Bada Business Pvt Ltd. Accusing the social media influencer and his firm of tricking people into giving them their money through a ponzi scheme that promised big returns, the petition sought a direction to the Centre to constitute a special investigation team (SIT) of the CBI to probe the case. A bench comprising MM Sundresh and SVN Bhatti took note of the submissions of senior advocate Vikas Singh, appearing for Shubham Chaudhary and 19 other petitioners, that Bindra and his firm have duped several people of their money.
In its order passed on Wednesday, the commission said Rs 1.08 lakh in fees deposited by complainant Priyanka Dixit at the time of admission in 2021 must be returned along with 12 per cent annual interest, while Rs 5,000 must be given to her as litigation cost and Rs 50,000 as compensation for financial and mental agony.
Domestic air traffic rose 4.8 per cent on an annual basis to 126.48 lakh in February, while more than 1.55 lakh passengers were affected by flight delays during the same period, according to official data released on Friday. In February, Air India's market share rose to 12.8 per cent from 12.2 per cent while that of IndiGo marginally dipped to 60.1 per cent from 60.2 per cent in January. The domestic air traffic climbed to 126.48 lakh in February compared to 120.69 lakh in the year-ago period, the Directorate General of Civil Aviation (DGCA) said.
Those running from pillar to post to get their Income Tax refund dues can seek solace in Right to Information Act, which is fast becoming a potent tool to get refund faster.
Satyam founder B Ramalinga Raju's confession letter on January 7 also refers to a net amount of Rs 1,230 crore (Rs 12.3 billion) arranged for Satyam by the 37 companies.
Discontent has been brewing among a section of the cabin crew at the low-cost carrier for some time now, especially after the start of the process of merger of AIX Connect, formerly AirAsia India, with itself.
Publishers of Sir Alex Ferguson's autobiography have agreed to refund a customer after multiple inaccuracies were found in the book.
As many as 5,532 complaints were received by the regulator in January, an 80 per cent increase over the number of complaints filed in the previous month.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The Central Board of Direct Taxes has suggested to income tax departments across the country to go slow on refunds for at least a fortnight.
If extra tax has been paid on inflated income, only a 'bona fide mistake' will get refund.
"The customers had entered into a three-year contract with us. If we have to sell the apartments at a discounted rate, the customers who are backing out should make up for it," an official said. "If DFL tries to re-sell its apartments in the open market, it will have to reduce prices by a further 10-15 per cent. The new buyers know the expected supply is more than demand," said Rupesh Sankhe, equity analyst, Centrum Broking.
'Investing abroad helps mitigate currency risk for foreign-currency denominated goals, such as children's higher education and international travel.'
In a suit filed against Tata America International Corporation (TAIC) and its parent corporations -- TCS and Tata Sons Ltd -- on Tuesday, Gopi Vedachalam, contends he was instructed to sign over his federal and state tax refund checks to TCS.
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