New Delhi, May 1 (PTI) The Income Tax department has notified a new form for filing updated I-T returns in which taxpayers will have to give the exact reason for filing it along with the amount of income to be offered to tax.The new form (ITR-U) will be available to taxpayers for filing updated income [...]
Chennai, Apr 30 (PTI) Expressing concern over the reported move by Japanese carmaker Nissan Motor to halt the production of Datsun redi-GO car models at its Chennai plant, AIADMK co-ordinator O Panneerselvam urged Tamil Nadu Chief Minister M K Stalin to immediately intervene and ensure steps to sustain the operations. The future of thousands of [...]
New Delhi, Apr 30 (PTI) State-run power generating companies of Maharashtra, West Bengal, Jharkhand, Tamil Nadu, Rajashthan and Madhya Pradesh owe Rs 6,477.5 crore to Coal India Ltd amid the country grappling with coal shortages.At present, the country is witnessing a power crisis on account of coal shortages.While Maharashtra State Power Generation Company owes the [...]
New Delhi, Apr 30 (PTI) CBDT Chairman J B Mohapatra retired on Saturday even as a government order for the appointment of a regular head of the direct taxes administration body is awaited. Mohapatra, a 1985-batch Indian Revenue Service (IRS) officer of the Income Tax department, was appointed as the full-time chairman in September last [...]
Mumbai, Apr 30 (PTI) Seeking to address concerns over the deep haircuts taken by banks in some of the insolvency resolutions, Reserve Bank Deputy Governor M Rajeshwar Rao on Saturday said comparing the outstanding loan amounts with the value realised may not be a 'reasonable indicator' to assess the bankruptcy law's effectiveness.Admitting that there have [...]
New Delhi, Apr 30 (PTI) The telecom department has exempted certain products including mobile user equipment, mobile handsets, and smart watches from the ambit of its mandatory testing `MTCTE regime', removing a regulatory overlap that existed, an official release said on Saturday. The exemptions on these widely-used products will reduce the compliance burden and will [...]
Ahmedabad, Apr 30 (PTI) Evolving with changing scenarios will be crucial for Insolvency and Bankruptcy Code (IBC) as it could become the most potent instrument in driving proactive responsible behaviour among lenders and prove to be a boon for the economy, Minister of State for Corporate Affairs Rao Inderjit Singh said on Saturday. He was [...]
Ahmedabad, Apr 30 (PTI) Evolving with changing scenarios will be crucial for Insolvency and Bankruptcy Code (IBC) as it could become the most potent instrument in driving proactive responsible behaviour among lenders and prove to be a boon for the economy, Corporate Affairs Minister Rao Inderjit Singh said on Saturday. He was speaking at an [...]
New Delhi, Apr 30 (PTI) Amid concerns in certain quarters that the insolvency law has led to more liquidations than resolutions of stressed assets, Corporate Affairs Secretary Rajesh Verma on Saturday pitched for having a framework to study the impact of the legislation. Emphasising that the government and regulator IBBI have been constantly making course [...]
The Indian economy may take more than a decade to overcome the losses emanating from the COVID-19 pandemic, said a report published by the Reserve Bank of India. In an analysis of the impact of COVID-19 on the economy, the report has estimated the output losses during the pandemic period at around Rs 52 lakh [...]
