The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
Pakistan's first warm-up match ahead of the World Cup will be played behind closed doors in Hyderabad for security reasons.
Sahara Group on Friday assured the Supreme Court that its two companies which had raised Rs 24,000 crore through Optionally Fully Convertible Debentures (OFCDs) from their investors will refund the amount within three months.
The Paytm application (app) could potentially face a permanent loss of its integrated mobile wallet feature, currently owned by Paytm Payments Bank (Paytm PB). With the recent crackdown on Paytm PB, sources say getting a fresh wallet licence may get tough for the group. "The Paytm app (One97 Communications) has to apply afresh to the RBI for a licence to operate a prepaid payment instrument (PPI) like a mobile wallet within the Paytm app, as PPI is a regulated entity.
State-owned MTNL will soon reap a tax refund windfall, as the Income Tax department has been asked to return a whopping Rs 1,233 crore (Rs 12.33 bilion) to the telecom PSU
Delay raises doubts about govt's tax reform plans.
Reliance Industries may ask the government for a refund of its investment if it is forced to give up any part of the prolific KG-D6 block as it has spent a huge sum of money on exploration after obtaining necessary permission to retain the entire 7,645-sq km area.
One97 Communications Ltd (OCL), the parent firm of fintech major Paytm, has denied reports about any investigation by the Enforcement Directorate (ED) into the company, its associates, and its founder and chief executive officer (CEO), Vijay Shekhar Sharma. The company, in an exchange filing on Sunday, said it had cooperated with the authorities when users or merchants on its platform were subject to enquiries in the past. "We would like to set the record straight and deny any involvement in anti-money laundering activities.
About 82 per cent of the total income from unknown sources declared by national political parties in 2022-23 came from electoral bonds, according to a poll rights body.
Govt steps up security to check criminals seeking bank details of taxpayers
the processing of the returns to determine refunds is an ongoing and continuous process and a return can be processed up to one year.
The Supreme Court on Wednesday directed real estate giant Supretech to give back money to flat owners who had sought refund of their investments within a month after its 40-storey residential twin towers Apex and Ceyane in Noida were directed to be demolished by Allahabad High Court.
Gross direct tax collection in 2022-23 rose by around 20 per cent to Rs 19.68 lakh crore, exceeding the government's revised collection target. Buoyed by personal income tax collection, the gross collection has exceeded the revised estimates (RE), set on February 1, by Rs 2.41 lakh crore or by 16.97 per cent. After adjusting for refunds, the net income tax paid by individuals and corporate, showed an increase of 18 per cent to Rs 16.61 lakh crore during the fiscal, which ended March 31, 2023.
Supreme Court on Tuesday upheld a Telecom Dispute Settlement Appellate Tribunal order directing the Government to refund the interest on licence fee collected by it from four operators
The nine-page guidelines have been issued days after the state government set up a 15-member committee headed by education secretary Bhawani Singh Detha to examine the issue after record student suicides were reported from coaching hub Kota.
The department plans to give taxpayers the facility of applying for tax refunds and tax credits through ATMs.
Some mainland fans travelled 12 hours from Xinjiang to Hong Kong to see Messi, the Global Times wrote, with the disappointment of the government and fans "entirely understandable. The impact of this incident has far exceeded the realm of sports."
The diplomatic rift between India and Maldives, coupled with the suspension of flight bookings on one of India's major travel portals, has sent jitters down the spine of tour operators in the island nation. The Maldivian Association of Travel Agents and Tour Operators (MATATO), a forum for travel agents, has stressed that the Indian market is important to the success of tourism in Maldives.
Everyone (with some exceptions) whose estimated tax liability is Rs 10,000 or more in a financial year must pay advance tax.
'My suspicion is that most of the bonds were given by companies who had got contracts or who had benefited from policy changes by the government.'
A communication goof-up between Vijay Mallya-promoted Kingfisher Airlines and its banker saw a cheque of Rs 12,975 bounce, much to the embarrassment of the country's largest private carrier, which promptly arranged a bank draft for the recipient.
The National Consumer Commission has told KEL to refund the cost of Rs 41,970, besides compensation of Rs 5,000.
Pronouncing the judgement, Justice Khanna said the court has rejected all the petitions, including those seeking resorting back to ballot papers in elections.
DLF, the country's largest property developer, may retrade its apartments at New Town Heights, Gurgaon, and Garden City, Chennai, at a discount. This is to refund buyers who want to exit the projects, according to a senior company official.
SpiceJet will have to refund fare to passengers due to a flight delay.
The ruling Aam Aadmi Party remained tight-lipped about whether the chief minister will appear before the Enforcement Directorate or not.
Or impolite behaviour of tax officials or other issues related to the income tax department? The Tax Ombudsman can help you.
This at a time companies have asked the revenue department to increase the rate in view of higher bank rates.
The refund also includes interest payment of Rs 166.19 crore (Rs 1.66 billion), which would increase the net profit of MTNL for the last financial year. "The interest component will have an impact on our net profitability. We are expecting it to go up by about Rs 120 crore," MTNL Director (Finance) Anita Soni told PTI. The company has lined up huge investments to ramp its GSM capacity both in Delhi and Mumbai and also broadband network.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The Directorate General of Foreign Trade said in a directive that telecom operators will have to refund the duty sops availed under the commerce ministry's export promotion scheme for services -- Served From India Scheme.
In a blow to Tata Teleservices, the Telecom Regulatory Authority of India has asked the company to refund the excess amount charged from customers under its Walky plan.
The Kolkata-based UCO Bank will refund nearly Rs 4,000 crore (Rs 40 billion) to applicants who had bid for the bank's initial public offering last month, V P Shetty, chairman and managing director, UCO Bank, said on Friday.
Spectators chanted "refund" after Messi stayed on the bench during the match.
Life Insurance Corporation of India (LIC) February 8 for the first time ever crossed the Rs 7 trillion market capitalisation, as the stock price of state-owned insurer hit a new high of Rs 1,144,45, on rallying 10 per cent on the BSE. The board of directors of the Corporation are scheduled to meet today i.e. February 8, 2024, to consider a proposal for declaration of interim dividend for the financial year 2023-24 (FY24). The board will also consider and approve the unaudited financial results for the quarter and nine-month period ended on December 31, 2023.
"The prime minister's post is very dignified and he should not have made personal attacks, but I did not mind. He does not give answers, but only makes promises which are hollow," Rahul said, addressing an election rally.
Seven electric two-wheeler companies have suffered a cumulative loss of over Rs 9,000 crore on account of unpaid dues and loss of market after their subsidies were stopped last year, the Society of Manufacturers of Electric Vehicles (SMEV) said on Wednesday. These companies have also been directed by the govt to refund the subsidies availed by them. The audit by SMEV's chartered accountants indicates the total, cumulative damages to affected companies could account for over Rs 9,000 crore on a conservative basis, it noted.
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