Within six months, outlets carrying Vicks jumped from 60,000 pharmacies to 750,000 general stores. The trade boycott collapsed. Consumers were happy, finding Vicks now at every street corner. A fascinating excerpt from Gurcharan Das's Another Sort of Freedom.
Authorities are checking deals involving more than three dozen companies.
The Delhi High Court on Thursday asked the Income Tax (IT) department to take a decision on the offer of Finnish mobile maker Nokia to pay a minimum deposit of Rs 2,250 crore (Rs 22.50 billion) to it towards the tax liability of the company which is nearly Rs 6,500 crore (Rs 65 billion).
Most of these alleged tax evaders hail from Kolkata, Mumbai, Ahmedabad, Surat, and Delhi.
The income tax department has also launched a faceless e-assessment scheme to eliminate interface between an assessing officer and a taxpayer.
Tesla Inc, the world's largest electric car producer, is looking to make a significant investment in India, said its chief Elon Musk, who saw India as holding more promise than any other large country around the globe. Musk, after meeting Prime Minister Narendra Modi, said he plans to visit India in 2024. "I am confident that Tesla will be in India and we will do so as soon as humanly possible," Musk told reporters after the meeting.
Three persons are being questioned in connection with the massive seizure.
For the Mizo people, tribal and family identity are important. But so are jobs, farmers' access to markets, roads, and health facilities for a young population where drugs are a big affliction.
Higher oil prices, while not having an impact on Centre's revenues due to fixed tax rate, are pushing up states' sales tax revenue.
The income-tax department may make a permanent account number (PAN) mandatory for cryptocurrency investors, in line with the demat account rules for stock market transactions, according to two people privy to the discussion. At present, disclosure of crypto holdings and related gains is voluntary. If tax authorities go ahead with the PAN mandate, crypto exchanges will have to furnish a statement of financial transactions (SFT) before the income-tax department.
On behalf of BCCI, the three-member Committee of Administrator (CoA) along with CEO Rahul Johri will meet Manohar.
Amendments will be tabled in Parliament for approval by Monday or Tuesday.
Income Tax officials plan strikes, stoppage of searches and surveys if their demands on vacant positions, infra aren't met.
Tax wing scanning cash deposits between Rs 5-10 lakh
The Maharashtra cabinet on Thursday cleared a proposal that offers an option of availing the Old Pension Scheme (OPS) to the state government employees who joined the service after November 2005.
Measures may include tax slab and rate revisions for individuals, companies.
Automakers are caught in a chicken-and-egg situation: Prices have to come down if volumes are to increase, and volumes won't increase unless prices come down, notes Pavan Lall.
'Sin tax' is a globally prevalent practice under which products like alcohol and tobacco attract higher rates of tax.
Mastermind Shrinivas Rao Dadi, 49, who has sound technical knowledge despite limited education, was taken into custody by a team of Bangur Nagar police station from a plush hotel in Hyderabad, the official said.
The Central Board of Excise & Customs will develop the process over the next few months.
The Centre is staring at a combined shortfall of up to Rs 1 trillion in excise and Customs revenues in the current financial year (FY23) compared to the Budget estimates (BE), mainly because of duty cuts on edible oil and petroleum products. The government set a target of Rs 3.35 trillion for excise and Rs 2.13 trillion for Customs mop-up for FY23 while presenting the Budget in February. "As excise duty collection is mainly driven by diesel volumes, we might see a clear gap in the level budgeted for FY23, following the reduction in cesses on petrol and diesel in May. We are expecting somewhere between Rs 80,000 crore and Rs 1 trillion dip in excise and customs duty collections," a senior government official told Business Standard.
The BBC is not driven by an "agenda" but by purpose and will not be put off reporting impartially and without fear or favour, the UK-headquartered media organisation's chief has said days after the income tax department survey operation at its New Delhi and Mumbai offices.
The two central premier investigative agencies - Central Bureau of Investigation and Enforcement Directorate - have asked their officials to focus more on digital evidence, e-forums and social media to crack down on offenders. These are a crucial part of prosecution amid the second wave of the pandemic. The Income Tax Department is going full throttle on data analytics to issue notices in time-bound cases. Further, sleuths have been given electronic devices including laptops with secure connections, which keep data encrypted and inaccessible.
Vadra was asked to join the investigation at the tax authority's office but as he cited COVID-19 restrictions, a team of officials visited his premises in Delhi's Sukhdev Vihar area.
Besides selling movable and immovable assets to make recoveries, taxmen filed prosecution cases against those not paying the demand.
Modi said officers must fix clear targets to improve the country's tax administration by 2022, the 75th anniversary of Independence.
With exporters' claim for over five months still pending, liquidity has been wiped out and the process of finalising new contracts has been held up.
The agency has also summoned Rajasthan Chief Minister Ashok Gehlot's son Vaibhav Gehlot for questioning in a case related to alleged contravention of the foreign exchange law, official sources said on Thursday.
CM Stalin has a procedural problem. Nominating new ministers would entail his having to seek formal permission from governor R N Ravi. Stalin does not want to interact with the person of this governor, as far as possible, predicts N Sathiya Moorthy.
'Now the political boss decides, and the ED acts.'
Deadline ends, after two extensions and only 70% file detailed return for July
The momentous occasion came when the House of Representatives passed the $1.5 trillion (Rs 96 lakh crore) tax reform bill for the second time by 224 to 201 votes to clear the technical snag in the passage of the bill, which was passed by the Senate and House earlier.
The Delhi government will extend its beautification efforts to all parts of the national capital after G20 designated parts of the city witnessed a facelift for the international summit, cabinet ministers Atishi and Saurabh Bharadwaj announced on Monday.
The US is pressing for taxing digital economy through the 'marketing intangibles' principle and the UK through a 'user-base' principle.
The idea is to cut litigation, lower the cost of collection and prioritise bigger defaulters.
After bumbling for years since 2014, the Modi government seems to believe that massive government expenditure will lead us to prosperity supported by 'seat-of-the-pants' decision-making, observes Debashis Basu.
Aaditya, son of Shiv Sena president and Chief Minister Uddhav Thackeray, dubbed the searches by the I-T department on Kanal as 'invasion by Delhi' ahead of Brihanmumbai Municipal Corporation (BMC) elections.
False and acrimonious debates such as Modi versus Manmohan might allow for victories that are political and partisan. But the real loser is the nation, India and Bharat, notes Arvind Subramanian, former chief economic advisor to the Modi government in its first term.
Rajasthan is reeling under a huge financial burden with the state's debt having gone beyond Rs 5.59 lakh crores. Rajasthan has increased expenditure on education by 203.4 percent, by 105.4 percent on health, by 227.14 percent on housing. Its expenditure on social welfare schemes has increased by almost 2,475 per cent.
The Supreme Court had ruled in Vodafone's favour in 2012.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances