The I-T department will look at all “unusual” and “suspicious” deposits made into accounts, even if they are less than Rs 2,50,000.
SBI said the executive committee of the central board approved to divest 3.9 per cent stake, or 3,90,00,000 equity shares of the life insurance subsidiary, at a price of Rs 460 per share.
The South Korean Steel major reportedly announced temporary freezing of the Rs 51,000 crore project.
The exchange was to take place at the mediator’s residence. The mediator was caught red handed and new currency notes aggregating to Rs. 29.5 lakh was seized.
The officials said a number of documents related to financial transactions, entries of gold sale and records of sale/purchase have also been seized by the tax sleuths.
Express IT Awards have always attracted a large number of participants, this time around, the number of entries has crossed 400.
Nabard chairman Harsh Kumar Bhanwala said, “We believe that these two initiatives will have a positive impact in easing the transition to digital transactions.”
Feature phones and affordable smartphones, which are priced under Rs 10,000, have also see a big impact as most of them are purchased on cash.
"Limited availability of new currency in the hands of people will impact exports in sectors like agriculture due to high number of cash transactions," said Maersk Line Managing Director Franck Dedenis.
Fresh guidelines introduced post November 8 announcement have made some fearful of the tax officials.
The largest incremental demand for e-modes of payment has come from outside the metros.
The coupons would be in denominations of Rs 5, 10, 50 and 100.
India Inc on Wednesday expressed disappointment saying a rate cut was needed to provide fillip to the flagging industrial economy and stimulate consumption that has been hit by demonetisation.
In a move that may provide boost to India’s infrastructure development, Germany is looking to expand and redesign its foreign trade and investment tool so that its companies here are able to compete with Chinese and Japanese firms and grab large projects. Chinese and Japanese companies receive systemic political support, including full financial packages when […]
Meanwhile, the department has also revised the actual declarations received to Rs 67,382 crore (estimated at Rs 65,250 crore earlier) from 71,726 declarants.
Detecting irregularities the CBDT has decided to refer several cases to the ED and CBI: Finance Ministry.
Exercise conducted for the post of two MDs of Life Insurance Corporation
"Black money cannot be weed out through demonetisation. For that you require stringent anti-corruption, anti-bribery and amendments to the existing recovery laws," he said.
Former Finance Minister P Chidambaram in a tweet said, "There is a Rs 13,860 crore hole in the Rs 65,000 crore IDS! How many more holes?"
Recent developments, like liquidity crunch among due to demonetisation are expected to further dent the demand of steel, ISA said.
Nearly 61 per cent of C-suite executives of Indian firms believe that their organisational decisions are highly data driven compared to the global benchmark of around 40 per cent, says a report. According to PwC’s Using Advanced Analytics to Make Big Decisions report, 98 per cent of Indian executives believe their organisations were highly (61 […]
The minister also hit out at the opposition for disrupting Parliament proceedings over demonetisation of Rs 1000 and Rs 500 currency notes.
WorldRemit expects in the coming months to secure licenses for a few US states that it does not already serve, Lee said.
The market is not likely to witness the same intensity as in Delhi and Mumbai, experts say.
The RBI also said there is a perception that banks with currency chests are giving priority to their own branches to supply cash and asked them to quell the misinformation.
Ramkrishna was appointed as the Joint MD in September 2009 and was elevated to the post of MD & CEO with effect from April 1, 2013.
The guidelines said a bank shall comply with the these norms at two levels: the consolidated level and solo level.
Adani Group chairman Gautam Adani promised fresh investment of Rs 15,000 crore that may generate 10,000 new jobs.
The government is learnt to have decided against accepting old notes of Rs 500 at fuel stations, on suspicion of petrol pumps becoming conduits for converting black money into white.
In a boost to the pharmaceutical industry, the Delhi High Court on Thursday quashed a set of notifications issued by the Central government in March this year, which had banned the manufacture, distribution and sale of 344 fixed dose combination (FDC) drugs in India. The bench of Justice Rajiv Sahai Endlaw in a 113-page judgment […]
States like West Bengal, Kerala, Uttarakhand, Uttar Pradesh and Tamil Nadu have insisted on exclusive control over small taxpayers, who earn less than Rs 1.5 crore in annual revenue.
The report noted that the top three firms including two home grown firms TeamLease and Quess along with Swiss headquartered Adecco together account for 20 per cent of the total market share in India.
November data highlighted an 11th consecutive monthly improvement in manufacturing conditions across India.
In this regard, labour ministry is organising camps at the district-level through its organisations — ESIC, EPFO and Labour Officers — in coordination with district magistrates for opening of the bank accounts.
On December 1 and 2 the state government will have one-to-one discussion with captains of industries.
As per RoC documents, the bank was set up on November 10.