"Is this a case for NSA?," the bench asked the state's counsel while observing that this is why allegations of political vendetta crops up.
The 'angel tax' provision in the Finance Bill will not impact startups in India, a senior government official said on Tuesday. Startups which are registered with the Department for Promotion of Industry and Internal Trade do not come under the purview, Anurag Jain, the secretary in the department said while speaking at the IVCA Conclave. "Let me put one thing very clearly. It doesn't affect startups in the least," he said, addressing the audience at the event organized by the venture capital industry lobby grouping.
DRI seized contraband worth Rs 504.39 crore.
There are over 25 crore PAN card holders in the country while Aadhaar has been issued to 111 crore people.
GST authorities have detected GST fraud of Rs 55,575 crore over the last two years and arrested over 700 persons for causing loss to the exchequer, an official said on Thursday. Over 22,300 fake GST identification numbers (GSTIN) were detected by the officers of the Directorate General of GST Intelligence (DGGI). The government on November 9, 2020, launched a nationwide special drive against unscrupulous entities for availing and passing on Input Tax Credit (ITC) fraudulently by issuing fake/bogus invoices, thereby evading Goods and Services Tax (GST).
Senior tax officials were told to focus on cash collection from the arrears so that the target for FY23 was achieved and the overall revenue position improved.
Around 125 teams of the Transport and Revenue departments will be deployed during the 15-day plan so that the scheme could be effectively implemented.
The government managed to raise revenues by sending notices to high net individuals to did not file I-T returns last year.
His value lifestyle brand Zudio signals a coming of age of retail in small town India.
The apex court has settled the long-pending dispute between companies such as Samsung, IBM, HP & others and the tax department.
If you have any grievances or disputes regarding the demand stated in the notice, consider seeking professional help.
The guidelines for strategic disinvestment were issued on Monday itself when Finance Minister Arun Jaitley presented the Union Budget for 2016-17.
Hundreds of people are being evacuated from coastal villages in Kutch district in view of cyclone Biparjoy, but authorities are facing a challenge as many villagers are reluctant to leave their livestock and belongings behind.
The income tax department on Wednesday conducted raids in multiple states as part of a pan-India tax evasion probe against certain registered unrecognised political parties (RUPP) and their alleged dubious financial transactions, official sources said.
Every bank offers a different slab of minimum balance to customers, based on which 'free services' are provided
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
India's tax officials, long the scourge of foreign investors, are under government pressure to avoid aggressive claims against overseas funds.
Kartik Kumar, a Rashtriya Janata Dal MLC, who became the state's law minister in the new Nitish Kumar government, resigned hours after being moved to a lesser significant Sugarcane Department on Wednesday night.
The Comptroller and Auditor General of India (CAG) has pointed out several flaws in the financial practices of the Gujarat government and said there was a need to formulate a realistic budget based on the needs of the departments.
He said assessees' "comfort zones" have to be significantly enhanced, even as deliberate evaders and offenders are punished.
Rajasthan Chief Minister Ashok Gehlot on Wednesday said the accused in the Kanhaiya Lal killing case in Udaipur were 'linked' to the Bharatiya Janata Party and should have been 'hanged by now' but the investigation by the National Investigation Agency was not progressing as it should.
Around 73,388 people have defaulted aggregating to Rs 3,859 crore.
Union Minister Vilasrao Deshmukh on Tuesday appeared to be laying the blame for the Adarsh scam at former Chief Minister Ashok Chavan's door when he told the judicial panel probing it that the land was allotted to the society after a go-ahead from the revenue department.
Among the current FTAs with significant trade deficits for India, five are with countries from the 10-nation Asean bloc. Exports to the 10 economies stood at $ 37.4 billion in 2018-19, up by 9% year on year. On the other hand, imports were higher at $ 59.31 billion, up by 25% from the previous year's $ 47.13 billion.
The water level of the Yamuna in Delhi breached the danger mark again on Sunday following a surge in discharge from the Hathnikund Barrage into the river after heavy rain in parts of Uttarakhand and Himachal Pradesh.
The revenue will accrue to the government as the organisations will be required to deduct tax at source while making payments to players, umpires, coaches, commentators and others involved with the tournament.
The government has already sanctioned Rs 4,200 crore for upgradation of information technology infrastructure of Central Board of Direct Taxes (CBDT) for processing returns, refunds, faceless scrutiny and verification.
No violation of rules or regulations were found in the transfer of land by businessman Robert Vadra's Skylight Hospitality to realty major DLF, the Haryana government has told the Punjab and Haryana high court in Chandigarh.
The Minister assured that the I-T department would take a benign view of assessees volunteering to file returns and clear their dues and interest.
The California-headquartered company has not only seen more Indians coming to its platform, it has also seen engagement and conversation on various subjects going up manifold.
A bitter dispute has broken out in the Rajkot royal family of Gujarat over the ancestral property worth hundreds of crores with one of the members moving court.
In its mid-year analysis presented in Parliament earlier this week, the Finance Ministry had said that there were concerns about overheating of the economy in the midst surge in capital flows.
Reliance Jio has sent a second legal opinion to the Telecom Regulatory Authority of India (Trai) on the subject of the potential allocation of satellite spectrum. The letter is written by retired Supreme Court Justice L Nageshwara Rao and argues in favour of auctions, stating that any other method for allocating spectrum apart from auctions could be constitutionally unsound. Business Standard has reviewed the letter.
The income and profits shown by various BBC group entities are "not commensurate" with the scale of their operations in India and tax has not been paid on certain remittances by its foreign entities, the income tax authorities said Friday, a day after they ended a three-day-long survey operation against the British media organisation.
The department had recently sent a tax reminder notice to the British telecom major.
The commercial exploitation will partially fund the Rs 5,300 crore Mumbai Urban Transport Project-II which envisages improvement in the suburban rail transport system.
Revenue minister Narayan Rane lifted a stay on an earlier order of the government.
At least 120 insurance intermediaries and aggregators from across the country are under scrutiny, mainly from Mumbai, Gurugram and Bengaluru.
The erstwhile Bahujan Samaj Party government's decision to transfer over 500 acres of land to the Noida Authority in 2009 has resulted in a whopping Rs 2,600 crore loss to the state exchequer, the Comptroller General of India has pointed out.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances