The Indian government as respondent in Sanjay Bhandari extradition case has sought permission from the London high court to appeal against the discharge of the defence sector consultant wanted in Delhi to face charges of alleged tax evasion and money laundering.
Filling of Rs 100 and Rs 200 notes result in faster depletion and more frequent cash replenishment. This will cost banks and managed service providers more.
A total of 45 kilograms of pure gold has been used in the construction of the Ram Temple in Ayodhya, according to Nripendra Mishra, the chairman of the Ram Temple Construction Committee.
There's no change in Apple Inc's India strategy, said a top government source. 'It can only be enhanced'.
Targets should avoid panicking and hang up. 'Disconnecting stops the scammers from building psychological pressure.'
Chinese import tariffs have unwittingly come to India's assistance to help boost imports of US liquefied petroleum gas (LPG) at rates cheaper than what it pays for supplies from West Asia, according to industry sources and shipping data.
Turkiye and Azerbaijan backed Pakistan and condemned India's recent strikes on terror camps in that country and Pakistan-occupied Kashmir under Operation Sindoor.
Issues related to the proposed free trade agreement (FTA) and bilateral investment treaty between India and the UK are expected to figure during the three-day visit of Finance Minister Nirmala Sitharaman to London from April 8-10, official sources said. The minister will attend a host of meetings, including the India-United Kingdom Economic and Financial Dialogue, in London.
Mukesh Ambani-led Reliance Industries Ltd (RIL) plans to invest Rs 75,000 crore ($9 billion) each into its new energy business and petrochemical expansion, according to a company presentation. In its FY25 result statement, Ambani said the company has laid a strong foundation for its projects in renewable energy and battery operations. "In the coming quarters, we will see the transition of this business from incubation to operationalisation.
Trump made it clear he had no plans to speak with Musk anytime soon, stating, "I'm too busy doing other things," and added, "I have no intention of speaking to him," NBC News reported.
Arms dealer Sanjay Bhandari has opposed the Enforcement Directorate's (ED) plea in a Delhi court seeking to declare him a "fugitive " in connection with a black money case. Bhandari claims his stay in the UK is legal as the London High Court denied his extradition to India. The court's decision was also cited by an English court in April to deny the Indian government's request to extradite another accused in a rice-buying scam. Bhandari's lawyer argued that the ED's application was "vague, misplaced and without jurisdiction " and that the value involved in the case was less than the required Rs 100 crore to declare someone a "fugitive. " The Delhi court has sought the ED's rebuttal to Bhandari's argument by May 3.
The interest rate on these schemes have remained unchanged for over a year now.
FM has asked IT officials to be friendly with tax payers whilst being stern with defaulters.
To offer additional support at the low end of the income ranges, the Centre will consider a large-scale jump in exemption rates under the old income-tax regime in the vote on account, or interim Budget, according to a senior official in the know. Those will include an extension of the income tax exemption rates close to Rs 7 lakh and additional measures for women farmers.
Income tax authorities on Friday launched coordinated searches across different locations in Tamil Nadu linked to state Electricity Minister V Senthil Balaji, police sources said.
Almost all verification and assessments of returns selected for scrutiny are being done electronically through an anonymous back office, manned by tax experts and officials, without any personal interface between taxpayers and officers.
The Adani group has said it will have a capital expenditure of Rs 1.1 trillion in 2025-26 as against this financial year's Rs 92,000 crore, with a focus on core energy and infrastructure. Expenditure will be financed through an internal cash generation of Rs 60,000 crore, and the rest will be raised via equity and debt, according to senior officials.
While addressing a rally at Alipurduar, Banerjee accused the Election Commission of removing the deputy inspector general of police of Murshidabad at the behest of the BJP.
The city received about 104 mm of rainfall in the last 24 hours, inundating many low-lying areas and leading to traffic pile-up, prompting the BJP to launch a scathing attack on the ruling Congress.
Taking both direct and indirect taxes, the gross collection is expected to grow 10.45 per cent to Rs 33.61 trillion in 2023-2024.
India registered its protest at the board of IMF, which met on Friday to review the EFF lending programme for Pakistan.
'Most young taxpayers prefer income tax filing to be flexible yet straightforward.'
The Delhi High Court has directed Customs officials to ensure that old and personal jewellery of travellers, including ornaments being worn by them during travel, are not unnecessarily detained at airports and they are not harassed. The court was hearing a batch of more than 30 petitions raising issues on the procedure for detention of goods belonging to the tourists travelling to India, of both Indian and foreign origin, by the Customs department.
An increase in the farmer income support scheme PM Kisan Nidhi, the introduction of a 'robot tax' to fund reskilling of people who lose their jobs to artificial intelligence (AI), and a reduced income-tax (I-T) to bring relief to the middle classes - these are some of the items in the Budget wish list submitted by Sangh Parivar affiliates to Finance Minister (FM) Nirmala Sitharaman. Representatives of the affiliates of the Rashtriya Swayamsevak Sangh (RSS), such as the farmer organisation Bharatiya Kisan Sangh (BKS); trade union Bharatiya Mazdoor Sangh (BMS); Laghu Udyog Bharati, which works for micro and small industries; and Swadeshi Jagran Manch (SJM), which works on economic and policy issues, met the FM and other officials over the last couple of weeks as part of the pre-Budget consultations.
The Supreme Court collegium has initiated an initial inquiry against Delhi High Court judge Justice Yashwant Varma following the alleged discovery of a large stash of cash at his official residence during a fire incident. The collegium has also reportedly recommended Justice Varma's transfer to his parent high court, the Allahabad High Court. The inquiry will involve seeking a report from the Chief Justice of the Delhi High Court on the incident. The controversy surrounding the alleged discovery of cash was first reported by The Times of India. Justice Varma's proposed transfer is subject to the Centre's approval. The amount of cash found is not yet known. Justice Varma, currently heading a division bench dealing with sales tax, GST, company appeals and other appeals, did not hold court on Friday. Delhi High Court Chief Justice D K Upadhyaya expressed shock over the incident. The collegium reportedly received information about the cash discovery from government officials. Some collegium members have called for stricter action against Justice Varma, including seeking his resignation or launching an in-house inquiry. The Supreme Court has an in-house inquiry mechanism to deal with allegations against judges, which involves forming a committee to investigate and, based on the report, take further action. A judge of a constitutional court can only be removed through impeachment by Parliament.
Gross GST collections rose by 9.1 per cent to about Rs 1.84 lakh crore in February, boosted by domestic consumption and indicating potential economic revival. As per the official data released on Saturday, on a gross basis, mop up from Central GST stood at Rs 35,204 crore, State GST at Rs 43,704 crore, Integrated GST at Rs 90,870 crore and compensation cess of Rs 13,868 crore.
Moody's Ratings on Wednesday said India's economic growth will exceed 6.5 per cent in the next fiscal, up from 6.3 per cent this year, on higher government capex and consumption boost from tax cuts and interest rate reduction. Projecting a stable outlook for the banking sector, Moody's said although the operating environment of Indian banks will remain favourable in the next fiscal, their asset quality will deteriorate moderately after substantial improvements in recent years, with some stress in unsecured retail loans, microfinance loans and small business loans.
From the launch of the 'Startup India' initiative in 2016, to the abolition of angel tax and easing of reverse flipping norms, the startup ecosystem is evolving.
The "construct of the DPDP Act" cannot be changed at this stage, though there may be some minor tweaks in the language of the Rules and formats in certain legitimate cases.
The income tax department's marathon "surveys" at BBC's offices ended on Thursday, after clocking over 58 hours in total, as officials prepared an inventory of financial data from select staffers and collected digital and paper data.
Some of his directives had the Supreme Court judges disclose their assets whereas the row over the discovery of cash from a sitting judge's official residence paved way for inquiry.
The central government's fiscal deficit during 2023-24 at 5.6 per cent of the GDP was better than previous estimates of 5.8 per cent on account of higher revenue realisation and lower expenditure, according to official data released on Friday. In actual terms, the fiscal deficit -- or gap between expenditure and revenue -- was Rs 16.53 lakh crore, or 5.63 per cent of the GDP, which grew 8.2 per cent in 2023-24.
Cooking gas or Liquified Petroleum Gas (LPG) price has been raised by Rs 50 per cylinder by distribution companies, Union Oil Minister Hardeep Singh Puri said on Monday.
Here is a list of Q & As to explain these issues and implications of the US move.
The income tax department has sought to prosecute Reliance Group chairman Anil Ambani under the Black Money Act for allegedly evading Rs 420 crore in taxes on undisclosed funds worth more than Rs 814 crore held in two Swiss bank accounts.
Paraphrasing Abraham Lincoln, Finance Minister Nirmala Sitharaman on Sunday described the Union Budget as "by the people, for the people, of the people", and said Prime Minister Narendra Modi was fully behind the idea to cut taxes for the middle class but it took time to convince the bureaucrats. "We have heard the voice of the middle class" who had been complaining about their aspirations not being met despite being honest taxpayers, she told PTI in an interview.
The government on Tuesday increased the windfall profit tax on crude oil produced in the country and reduced the levy on exports of diesel. The tax, levied in the form of Special Additional Excise Duty or SAED, on domestically produced crude oil was increased to Rs 9,800 per tonne from Rs 9,050 a tonne, according to an official notification. SAED on the export of diesel was reduced to Rs 2 per litre from Rs 4 a litre and on jet fuel or ATF to nil from Rs 1, the notification said.
The official said there are both challenges and opportunities for India as many of its competitor countries in exports, such as China Vietnam, Bangladesh, Cambodia and Thailand, face higher duties.
'If more than 60 commissioner-level tax officials were compulsorily retired in the span of a few months, surely the malaise is far deeper,' notes A K Bhattacharya.
Dividends paid by central public-sector enterprises (CPSEs) in 2024-25 are set to be the highest ever, with the government receiving 69,873 crore so far. A government official said he was hopeful the receipts would touch 70,000 crore in the last week of the financial year.
