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I-T finds Rs 12 lakh crore mismatch in ITRs declared in FY 2016

A big reason for not being able to catch such tax evasion is due to the fact that the government has not, so far, implemented the invoice-matching feature of GST.

Economy News

BJP manifesto: From 5 trillion economy to lower tax rates, here are five key promises

While it resisted announcement of populist measures, the manifesto did detail steps to reduce agrarian distress by promising interest-free loan up to Rs 1 lakh and pension for small and marginal farme

Elections News

Jet Airways sale: Lenders ease terms to attract buyers

Currently, lenders have with them 31.2% of the equity capital of the airline; these shares were pledged with them by promoter Naresh Goyal.

Industry News

Vijay Mallya loses yet another round, moves closer to extradition

If the UK High Court turns down Mallya’s oral application and approves his extradition, Mallya can make a representation to the UK Home Secretary to prevent extradition on the grounds of human right

India News

Anil Ambani-led RCom may get Rs 578 crore refund from Ericsson

On May 16, 2018, the National Company Law Tribunal’s Mumbai bench had admitted Ericsson’s insolvency plea against RCom and two of its arms seeking to recover unpaid dues. However, on May 30, NCLAT

Industry News

Jet Airways revival plan: Lenders invite bids for stake sale in airline

Under the debt resolution plan approved by the Jet Airways board on March 25, lenders have taken a majority stake in the airline and are set to infuse Rs 1,500-crore funds.

Industry News

Don’t let your votes get split: Akhilesh and Mayawati warn voters

Muslims, along with Dalits and a section of Jats in western UP, form the backbone of the gathbandhan’s support in these Lok Sabha elections, which also explains the choice of Deoband as the venue fo

Elections News

Baring Private Equity to acquire 30% in NIIT Tech

The Thadani Family Trust, along with other entities/members of the family, and the Pawar Family Trust along with other entities/members of the family, will be selling an aggregate of 6.94% stake, NIIT

Industry News

Freedom of choice: Open access gets leg-up from states’ solar policies

Open access is the non-discriminatory use of transmission and distribution infrastructure of the licensees by consumers with demand greater than or equal to 1 MW for procuring electricity from the sou

Industry News

OTT drive: Netflix, Hotstar, SonyLIV cut prices to woo subscribers

The domestic OTT space is driven by AVOD or a freemium model currently, with only 2-2.4 million subscribers having directly subscribed to OTT platforms, in addition to those who are considered paid su

Industry News

GST fraud: Probe body seeks e-surveillance powers

In the pre-GST regime, the organisation was tasked with gathering intelligence on companies that came under the excise and service tax regime.

Roll-out of new, simplified GST return forms deferred News

Mudra Yojna: About 25 per cent of this year’s target met in just one month

The number of Mudra loans sanctioned also surged to 5.41 crore as of March 22 (FY19), up from 3.89 crore a month before and compared with 4.81 crore in the entire FY18.

Economy News

Netas ditching SUVs? Lok Sabha elections fail to shore up utility vehicles sales

Netas and political party workers might be going from pillar to post in convoys of SUVs to campaign for elections, but SUV sales remain lacklustre despite poll season. This would be the third consecut

Elections News

New e-commerce policy: Push for level playing field for offline, online players

Sources told FE that Meity, in its submission to the department for promotion of industry and internal trade (DPIIT), which is formulating the policy, has emphasised that whatever is the rule for bric

Industry News

Supreme Court threatens Singh brothers with jail term — what angered SC

A bench headed by Chief Justice Ranjan Gogoi said it will now hear on April 11 the contempt petition by Daiichi against the brothers for non-payment of the arbitral award.

supreme court, electoral bonds, electoral bonds verdict, supreme court news, supreme court live News

Jet Airways crisis: Lessors to deregister 15 grounded aircraft

Jet's lenders, led by State Bank of India (SBI), last month agreed to bailout the airline in a complex deal that involved the banks taking a majority stake in the company, while they continue looking

Jet Airways, IOC, Fuel Supply, आईओसी, जेट एयरवेज, Financial Crisis, SBI, Aircraft Grounded News

Jet Airways crisis: No consensus on fund infusion yet

However, the major crisis before the airline is cash crunch because of which it has so far grounded 71 aircraft and is operating only 26 as on Thursday. Its employees have not been paid salaries since

Industry News

GST on liquor: Two contradictory rulings raise scope of litigation

Both the firms wanted clarity on the applicability of GST on proceeds received from contract bottling units (CBUs). Sale of alcohol for human consumption is outside GST purview, and only state-specif

Karnataka Appellate Authority for Advance Ruling (AAAR), Maharashtra AAR, GST , United Breweries , CBUs , News

RBI cuts rates, but money to stay costly — Explained

The committee projected retail inflation at 2.4% for the previous quarter from earlier projection of 2.8%, while also substantially lowering the forecast to 2.9-3.0% range for H1FY20 from 3.2-3.4% pre

Economy News

RBI to put out new rules to deal with stressed assets

It also required banks to finalise a resolution plan for such defaults of over `2,000 crore within 180 days, and if they failed in doing so, the account would be subject to the Insolvency and Bankrup

Banking & Finance News

Airtel says it’s not in race to acquire Zee Entertainment

A representative for Zee told Bloomberg that the company doesn’t comment on speculation though it is in “steady dialogue” with potential partners.

Industry News

MCC violation: President sends EC note on Kalyan Singh to govt for action

He quit the post when the Commission expressed displeasure over the misuse of official machinery for his son’s poll campaign.

Elections News

NIIF-Roadies platform to invest $2 billion in roads

NIIF currently manages capital invested through three funds: NIIF Master Fund (focuses mainly on core infrastructure and operating assets); NIIF Fund of Funds (invests in funds managed by third-party

Infrastructure News

New WhatsApp feature: You can now decline group invites

WhatsApp users can enable this feature through the ‘settings’ tab which will have three options — “nobody”, “my contacts”, or “everyone”. If they choose “nobody”, users will have

Industry News

Lok Sabha Elections 2019: Why they matter in UP? Low down the social ladder, and small in numbers

In the event of the Muslim vote splitting (Saharanpur) or the Jats not fully backing a Muslim SP candidate (Kairana), it is the so-called non-dominant rural castes that can make the difference between


IL&FS Resolution: New board continues to face challenges

The group as an operational action has classified 169 domestic entities of the group into ‘Green’, ‘Amber’and ‘Red’ categories. The total debt under the red category is `61,375 crore, in a

Industry News

Monsoon seen below normal on El Nino threat: Skymet

India has a 55% chance of a below-normal monsoon, 30% probability of normal showers and a 15% chance of a drought. The Pacific Ocean has become strongly warmer than average. The model projections call

Economy News
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