The income-tax department on Monday raided four premises of realty developer Lodha Group on alleged misreporting of income. The raid was based on a tip off suggesting inflated expenditure using fake receipts and cash payments from clients.
The Minister of Railways, Mamata Banerjee has extended, for the first time, the facility of 3AC travel with family once in a year for the lowest grade pay employees of Indian Railways. These are the employees like Gangman, Khalasi etc. who work day a
Taking note of the growing share of private players in education sector for profit, Prime Minister Manmohan Singh today said this trend could emerge as worrisome barrier to freer access to knowledge for all. Indeed with the growing share
The AO can not apply Rule 8D without pointing out any inaccuracy in the method of apportionment or allocation of expenses as adopted by the assessee. Rule 8D r.w.s. 14A(2) can be invoked only if the AO “having regard to the accounts of the assessee, is not satisfied with the correctness of the claim of the assessee in respect of expenditure incurred” in relation to tax-free income.
The Supreme Court today directed the Defence Ministry and the Karnataka government to meet and resolve their dispute over Rs 1,519 crore sales tax on defence contracts executed by Hindustan Aeronautics Ltd (HAL).
Market regulator SEBI today paved the way for Indian investors to trade in large indices of 24 global exchanges, including that of US, Europe and Asia. As per a SEBI circular, Indian exchanges will be able to provide trading in derivatives contracts
In order to safeguard Indian markets from money laundering and terror financing risks from Iran, watchdog Sebi has asked market players to be cautious in dealing with entities and funds from that country. The warning has been issued to stock exchange
Onion prices may increase further as traders in Azadpur mandi here today called for a strike from tomorrow against tax raids, even as the state government has threatened to invoke the Essential Services Maintenance Act (ESMA) against the traders.
Explore the Tribunal’s decision on Service Tax exemption (Notification No. 6/05-ST) for an assessee promoting a registered/branded entity. Details on the case and legal considerations.
NPCI has carried out a pilot on mobile payment system initially with 4 member banks viz State Bank of India, Bank of India, Union Bank of India and ICICI Bank in August 2010. Yes Bank, Axis Bank and HDFC Bank have joined this pilot in month of Septem
