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Often we hear the news of the income tax officials raiding the premises of someone for keeping unauthorised cash and other valuables at home or in office. In some cases, such cash and valuables get seized and in some other cases, the concerned persons also get arrested. Keeping this in view, the question that comes to our minds is: Is keeping a substantial amount of cash a crime in India? Or, how much cash one is allowed to keep at home?

Hemant Soren next month holding him prima facie guilty of disobeying notices issued to him by the Enforcement Directorate. The agency had filed a complaint against the senior Jharkhand Mukti Morcha (JMM) leader last month, stating he failed to join the investigation in a money laundering case linked to an alleged land grab case even after seven summonses were issued to him under section 50 of the Prevention of Money Laundering Act (PMLA). The first such notice was issued to Soren for his appearance before the ED on August 14 last year. Hemant Soren should be prosecuted under the Indian Penal Code section 174 (non-attendance in obedience to an order from public servant), the Enforcement Directorate (ED) had requested the court in its complaint filed under sections of the PMLA and the IPC.

Mint explores the reasons behind this governmental directive. The extension to blend imported coal has been announced amid anticipation of high power demand in the upcoming summer season. The power ministry, in its letter, said that the peak demand in the April-June period this year is likely to reach 250 GW, but logistical issues would impact coal supplies.

(Reuters) — U.S. stock index futures dipped on Tuesday as investors awaited a slew of economic data and several key events this week, including appearances from Federal Reserve Chair Jerome Powell.

Stocks have advanced this year despite higher bond yields and diminishing hopes for rate cuts.

power producers to import 6% of their coal requirements until June, despite adequate domestic availability, amid transport constraints and higher electricity demand, a power ministry note said on Tuesday. India last year had asked utilities to import 6% of their coal requirements until March due to an unprecedented surge in power and coal demand. Despite record production by state-run Coal India, which accounts for about 80% of India's domestic production of the fuel, constraints with the country's railway network necessitated imports, the note said.

El Nino has peaked as one of the five strongest on record and will continue to impact global climate in the coming months despite a weakening trend, the World Meteorological Organisation said on Tuesday. The UN agency also said above-normal temperatures are predicted over almost all land areas between March and May. The prevailing El Nino conditions fuelled record temperatures and extreme events the world over, with 2023 being the warmest on record. According to the European Union's Copernicus Climate Change Service, the global mean temperature breached the 1.5-degree Celsius threshold for an entire year for the first time in January.

digital assets like cryptocurrencies and non-fungible tokens (NFTs) are increasingly capturing investor attention. Take, for example, MicroStrategy, a publicly traded IT company, known for its products in market intelligence, mobile software, and cloud-based services. They increased their Bitcoin holdings to 193,000, by adding 3000 new BTC coins on February 26. This purchase was made when Bitcoin was trading around $51,000-$52,000, bringing their total investment to nearly $10 billion. While the potential for high returns is enticing, navigating this complex and volatile market requires a cautious and informed approach. Let’s explore the potential benefits and inherent risks of including digital assets in your 2024 portfolio, helping you decide if this investment aligns with your financial goals and risk tolerance.

Bitcoin’s price is in sight of an all-time high and the crypto faithful are on tenterhooks for a never-before-seen level. But in market value terms the token already touched a record. The market capitalization of Bitcoin reached $1.35 trillion, scaling the peak of $1.28 trillion from November 2021, CoinGecko data show. That was the month the token jumped to $68,991.85 at the apogee of its pandemic-era bull run.

Home Office data from the UK reveals a dip in the number of study visas issued for main applicants by the country in 2023 compared to the previous year. In 2023, there were 4,57,673 study visas issued to main applicants, which represented a 5.5 per cent decrease compared with the previous year. Click & check your eligibility for immigration Find out The 2023 total was the second highest on record for a calendar year and was 70 per cent higher than the pre-pandemic year of 2019, the Home Office said.

₹40-45 lakh. As a result, the new supply share of affordable housing has significantly contracted over the last two years in the top seven cities, dropping from 26% of total new launches in 2021 to 18% in 2023, a stark decline from 40% in 2019.

growth in new orders and output led to service activity easing to 60.6 in February compared with 61.8 in the previous month, according to results of a private survey released Tuesday. The seasonally adjusted HSBC India Services Business remained above the 50 level, which separates expansion from contraction, but a milder growth affected business outlook. “Due to a slowdown in growth in new orders and output, services companies’ outlook for future business activity, while remaining strongly positive, weakened slightly,” said Ines Lam, economist, HSBC.

Real estate tycoon Truong My Lan faces the death penalty for allegedly embezzling $12.5 billion

Do keep in mind that the section 80C benefit is only available for those opting for the old tax regime. Also read: Tax-saving guide for FY 2023-24

stock rally remains unstoppable with Mr Retail behaving like the biggest bull of Dalal Street, investors have been left richer by nearly Rs 100 lakh crore in 8 months. The market capitalisation of all BSE-listed stocks, as a result, is now within kissing distance of touching the milestone of Rs 400 lakh crore for the first time. After hitting the Rs 300 lakh crore mark on 5 July 2023, India's m-cap ended Monday's session at Rs 394 lakh crore and is now just one lucky trading day away from hitting the magical figure. The fast-paced rally is driven by a handsome 15% surge in Nifty and hundreds of small and midcap stocks giving multibagger returns.

income tax return (ITR) filed by taxpayers. These mismatches are relating to financial year 2021-22 and 2022-23. It is important to fix these mismatches as tax experts say that if an individual is unable to explain the reason behind the mismatch, they may get an income tax notice. To help individuals find the mismatch and then take action, a new on-screen online functionality has been made available on the income tax portal at https://eportal.incometax.gov.in by the Central Board of Direct Taxes (CBDT). The name of this web portal is 'Compliance portal' and the scheme is being called 'E-Verification Scheme 2021'. «In some cases of Income Tax Returns (ITRs) filed for A.Y. 2021-22 (F.Y. 2020-21), a ‘mismatch’ has been identified, between the information filed in the ITR vis-à-vis information of specified financial transactions, as available with the Department. In cases where ITRs for A.Y. 2021-22 have not been filed and, the Department is in possession of information of specified high value financial transactions, the same also needs to be examined,» said the Income-tax department in a press release dated March 4, 2024.

Gold rate today, 5th March 2024: Ahead of the US Fed chief's testimony before the US Congress this week, gold price on the Multi Commodity Exchange (MCX) touched a new lifetime high of ₹64,575 per 10 gm on Monday. However, the MCX gold rate today witnessed some selling pressure during morning deals. Gold futures contract on the MCX for April 2024 expiry opened lower at ₹64,331 per 10 gm level, which is its intraday low as well.

By Ankur Banerjee

Investing.com-- Most Asian stocks fell on Tuesday as investors collected recent profits in the technology sector, while China’s economic outlook and plans for the year spurred little improvement in sentiment towards the country. 

Bitcoin rallied to a two-year high on Monday, breaking above $68,000 as a wave of money carried it within striking distance of record levels. The price hit a session high of $68,580 and was last at $68,161. Bitcoin hit a record $68,999.99 in November 2021.

stocks stumbled on Tuesday, dragging Asian peers with them, as investors showed their disappointment at Beijing's plans to support the economy as its week-long annual session of parliament, the National People's Congress, got underway. Equities around the rest of the region were also on the back foot following a retreat from record highs on Wall Street overnight on signs the U.S. Federal Reserve is in no hurry to cut interest rates. U.S. stock futures also pointed lower.