HC has rejected the plea of a Delhi-based hospitality firm linked to Robert Vadra challenging an income tax department notice to it for re-assessment of its profits.
Income Tax officials conducted a raid on the corporate offices of various companies owned by the family of controversial former Punjab cabinet minister Rana Gurjit Singh.
CBDT, the policy- making body of the IT department, issued an instruction yesterday to further explain how the system would work, once fully operational.
The govt has proposed to remove exemption available to firms with tax liability of up to Rs 3,000 from filing I-T returns beginning next fiscal.
Nasscom has once again expressed concern over the falling fund flows into startups and called for added focus to galvanise the entrepreneurial ecosystem.
The govt's direct tax kitty swelled to Rs 6.95 lakh cr during the Apr-Jan period of the current fiscal, a growth of 19.3% over the year-ago period.
The I-T dept urged those who deposited "large amounts of cash" post demo and all companies to file their returns by Mar 31.
The CBDT has directed the taxman not to undertake "coercive" steps in recovering pending taxes from startups under a specific provision of the Income Tax Act.
The Indian Income Tax Department has issued about one lakh notices to people who have invested in cryptocurrencies like Bitcoin.
"People who have made investments (in cryptocurrency) and haven't declared income while filing taxes and have not paid tax on the profit earned by investing."
To Issue Rs 8800 Cr worth equity shares on preferential basis to GoI
SBI puts Rs 1935 Cr worth loans up for sale to 24 entities
Seeks bids on cash basis or a mix of cash and security receipts
Approves Issue Price At Rs 300.82/Share For Preferential Issue To Govt
Financial Express Reports
POWER GRID CORP
Emerges as lowest bidder for Rs 1000 cr project
To set up Vindhychaal-Varanasi 765 KV transmission line
Financial Express Reports
Arm To Buy 65% Stake In Indian Film Combine Pvt For Rs 1,105 Cr
Arm To Also Buy 20% Of Indian Film Combine From Xander Group Arm, 45% from Co's Promoter Group
Announces successful regulatory inspection from USFDA for API Facility for Hyderabad Facility
AVIATION IN FOCUS
Jan Domestic Air Passenger Traffic At 1.15 Cr, Up 19.7% YoY
Air India Jan Passenger Load Factor At 84.6% vs 81.8% MoM
Jet Airways Jan Passenger Load Factor At 88.7% vs 88.5% MoM
IndiGo Jan Passenger Load Factor At 89.7% vs 90.8% MoM
SpiceJet Jan Passenger Load Factor At 95.0% vs 95.6% MoM
Air India Jan Market Share At 13.3% vs 13.1% MoM
Jet Airways Jan Market Share At 14.3% vs 14.6% MoM
IndiGo Jan Market Share At 39.7% vs 39.4% MoM
SpiceJet Jan Market Share At 12.6% vs 12.7% MoM