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Finance


Keeping the crackdown a highly secret mission, income-tax officers hired private vehicles from tour operators in Indore. The state machinery was completely in the dark when I-T officers hired dozens of vehicles from several tour operators and set off in the pre-dawn hours. A travel operator from Indore, who rented vehicles to the raiding team, …

Home loans, car loan, and personal loans are set to get tighter as the Reserve Bank of India on Thursday decided to cut its benchmark repo rate by 25 basis points (bps) to 6% to keep prices under check and to support growth. The rate cut, the second announced by the central bank in 2019, …

Tax offices, for both income tax and GST, will remain open on Saturday and Sunday as the department’s race against time to meet the revenue collection targets. “As per past practice, all field offices of CBIC(Central Board of Indirect Taxes and Customs) will remain open during the last weekend of the current financial year also March 30 and March 31, 2019, for assisting …

Chartered accountants across the country have requested the Prime Minister’s office and the Finance Ministry to rein in tax officials who have been directed to take “all possible actions” to recover tax amid a shortfall in revenue collection. On March 26, the Central Board of Direct Taxes (CBDT), the apex body, issued instructions to all principal chief income …

Sushma Swaraj says won’t contest in 2019, final decision with BJP

External Affairs Minister Sushma Swaraj on Tuesday demanded that the two Pakistani Hindu girls, who were allegedly abducted, forcibly converted to Islam and married to Muslim men should be reunited with their families. Both the girls are minor. “Forced conversion of Hindu girls in Pakistan: The age of the girls is not disputed. Raveena is …

The rupee came down from 16 paise to 69.11 against the US dollar in opening trade on Monday on month-end demand for the American currency from importers amid a weak opening in the domestic equity market. Besides, the US dollar edged back from a six-week low against the yen and this factor also weighed on …

The benchmark BSE Sensex plunged over 325 points and slipped below the 38,000-mark in early trade Monday, in tandem with weak global cues and depreciating rupee. The 30-share index, which had lost 222.14 points on Friday, was trading lower by 325.49 points, or 0.85 percent, at 37,845.24. Reflecting the bearish mood, each the sectoral indices, …

Larsen & Toubro (L&T) is planning to pen a deal with Café Coffee Day founder VG Siddhartha to buy his 21% stake in Mindtree and launch an open offer for an additional 31% stake in the IT company, probably as early as Monday evening, said several people aware of the developments. Mindtree chairman and cofounder Krishnakumar Natarajan meanwhile warned against a …

If you remember our conversation, one of the things which I had highlighted was that the market will always come back sharply when nobody expects and in that kind of market, the idea is to keep on deploying over a term time because risk-reward was very well placed. But obviously nobody can time the catalyst …

The income tax (I-T) department on Friday announced it has documentary evidence of undeclared property deals of more than Rs 41 crore and concealed financial transactions of nearly Rs 17 crore in Jammu & Kashmir, primarily in the Valley that involve several local businessmen. The department stumbled upon these details after it conducted searches in …

Deputy superintendent of police (DSP) of the CBI, AK Bassi, on Friday said the apex court through his lawyer that he has not been receiving his salary from the department after he refused to take on his new posting in Port Blair. Senior advocate Rajeev Dhawan told a bench of the Supreme Court led by …

Inflows into Indian equity mutual funds in February were the smallest in more than two years as savers held back investments amid market volatility and uncertainty ahead of the general election starting next month. Stock funds took in a net 51.3 billion rupees ($736 million), a 17 percent drop over January, data from the Association …