PMC Bank scam: SC stays HC order on sale of HDIL assets

New Delhi (IANS) The Supreme Court on Friday stayed the Bombay High Court order on the sale of the bankrupt Housing Development and Infrastructure Ltd (HDIL) as a measure to facilitate the repayment of dues of crisis-hit Punjab and Maharashtra Cooperative…

Yes Bank CEO in violation of several regulatory norms: Ex-Director

Mumbai (IANS) Demanding Yes Bank CEO Ravneet Gill's resignation, its ex- independent Director Uttam Prakash Agarwal has alleged that the bank's top boss has violated several regulatory norms.

In a detailed letter to the Reserve Bank…

Coronavirus in China to disrupt global auto supply chain: S&P

Chennai (IANS) Credit rating agency Standard and Poors (S&P) on Thursday said the measures to prevent the spread of new coronavirus in China will disrupt the global auto supply chain.

In a report titled "The Coronavirus Dashes Recovery Hopes…

MFs to deduct TDS at 10% only on dividend income: CBDT

New Delhi (IANS) The new Budget proposal of taxing income distributed by asset managers to unit holders if such transfers are more than Rs 5,000 in a financial year may not make returns mutual fund schemes less attractive as government has clarified…

Auto Expo begins, plethora of companies participate

New Delhi (IANS) The 15th edition of Asia's largest automobile show in terms of visitor footfalls kicked-off here on Wednesday with a plethora of auto companies, start-ups, telecom, alternate fuel, electric vehicle and social media firms participating…

Indian markets reclaim pre-Budget levels; Sensex, Nifty gain 2%

Mumbai (IANS) Indian markets on Tuesday made up for the losses it incurred on Budget day supported by a sharp decline in global oil prices. Sensex added 917 points during the day's trade led by index-heavyweights like Reliance Industries, HDFC…

DHFL MD sent to ED custody till Friday

Mumbai (IANS) A Mumbai Special Court has granted fresh custody of Chairman and Managing Director of Dewan Housing Finance Ltd (DHFL) Kapil Wadhawan to the Enforcement Directorate till February 7, in connection with a money-laundering case involving…

TDS at 5% on foreign tour packages, remittances abroad

New Delhi (IANS) Money flowing out of India is being taxed with tax deduction at source added on services like foreign tour packages and remittances as the outgoing funds flow is sought to being taxed.

The Budget 2020-21 has mandated a 5 per…

Two tax systems give flexibility, widen people's choice: Rev Secy

New Delhi (IANS) Stating that most countries have multiple slabs and gradual increase in tax brackets to minimise the scope of under-reporting of income, Revenue Secretary Ajay Bhushan Pandey has said that the new system is simple and gives more choice…

Netting Bill ready to boost bond market: DEA Secy

New Delhi (IANS) The Government has provided sufficient grounds to use the 'escape clause' in the FRBM Act and it does not foresee any hardening of bond yields and Foreign Portfolio investors not investing in India, Department of Economic…