Finance Minister Nirmala Sitharaman said in a press conference that a computerised system will be introduced to issue notices and summons.
The department alleged its probe found that this fund was a benami of Ratul Puri and its shares were held by a Dubai-based operator, who is also an accused in the AgustaWestland VVIP chopper probe case.
ITR (Income Tax Return) filing Last Date 2019-20: The Central Board of Direct Taxes (CBDT) had earlier extended the due date of filing income tax return, which earlier was July 31, by one month for certain category of taxpayers as they were 'facing difficulties'.
In an interview with the BBC, Rajan confirmed he hadn’t sought the position and cited the fact that central banking 'has become much more political in recent times' as an explanation for why not.
The reason for the supposed extension is the problems faced by people due to the change in the format of filing tax returns and the tax deducted at the source (TDS) certificates issued by employers.
In the recent budget announcement, the Union Finance Minister Nirmala Sitharaman proposed to make the permanent account number (PAN) card and Aadhaar interchangeable, effectively allowing those not possessing a PAN to file income tax returns by quoting their Aadhaar number.
The next logical step is for the government to identify and resolve gaps in the income reported by taxpayers under separate (but relevant) tax legislation. The obvious aspects for this would be income reporting under Indian Income tax and GST laws.
The education and skill development sectors would need to be enabled to make the required changes so that the persons coming out of the system are not just employable, but can also adapt.
State-owned China Development Bank, with loans worth 98.6 billion rupees ($1.4 billion) was the biggest creditor to the indebted telecom company, according to a filing made by the Indian company to stock exchanges.
The May 23 order, which had cleared the merger of National Sample Survey Office (NSSO) and Central Statistics Office (CSO), had only mentioned Secretary (Statistics and Programme Implementation) as the head of NSO and not mentioned Chief Statistician of India.
Had the deal been cleared, it would have been the largest European steel deal since 2006 when Arcelor was taken over by industrialist Lakshmi Mittal.
Top gainers in the early session were Yes Bank, Bharti Airtel, Hero MotoCorp, Sun Pharma, RIL, M&M, PowerGrid, HDFC Bank, IndusInd Bank, Bajaj Auto, L&T, Coal India and Kotak Bank, rising up to 3.66 per cent.
With almost two years into GST implementation, the government is now focussing on anti-evasion measures to shore up revenue and increase compliance.
After stablising a struggling Microsoft, Business Insider says, Satya Nadella has his eyes set on artificial intelligence, edge computing, and augmented reality.
RailTel started providing the free public Wi-Fi service at Indian railway stations with a vision of turningRailway stations into a platform for digital inclusion.
The IPO is an offer for sale by the President of India, under the guidance of the Ministry of Railways and the Government of India, the statement added.
The ED said the shares attached were lying with Yes Bank and the Karnataka High Court had recently ordered the bank to surrender these "in favour of" the Debt Recovery Tribunal.
In a last-minute rescue Monday, Mukesh stepped in to help younger brother Anil pay $80 million in dues to a local unit of Ericsson AB and avert a three-month jail sentence. On the same day, his Reliance Jio Infocomm Ltd. and Anil’s RCom terminated a 2017 deal that had helped the latter stave off bankruptcy.
Forbes Richest Indians list: Mukesh Ambani continued to lead the Indian pack in the Forbes list which featured 106 Indians this year. Here are the top 10 Indians in the Forbes rich list.
The EPFO had provided a five-year low rate of interest of 8.55 per cent to its subscribers for 2017-18.