Department Financial News

Indian Army on Wednesday issued a clarification on the compensation provided to Agniveer Ajay Kumar’s family after Leader of Opposition Rahul Gandhi alleged that Defence Minister Rajnath Singh had lied in the parliament about the emoluments. In a post on social media X. the AGD PI Indian Army tweeted, “*CLARIFICATION ON EMOLUMENTS TO AGNIVEER AJAY KUMAR*

Income Tax Department has released common Frequently Asked Questions (FAQs) faced by taxpayers during filing their returns for AY 2024-25. Here some of the important FAQs as per the tax department’s website.

Lucknow, Jaipur and Thiruvananthapuram as their headquarters. The Department of Military Affairs (DMA) under Chief of Defence Staff Gen Anil Chauhan, who is responsible for raising the theatre commands, is now focusing their energy towards implementing over 150 points to enhance integration among the three services and make ready for the multi-domain warfare of the future. On July 2, Prime Minister Modi had stated in Parliament that the creation of theatre commands was on track and modernisation of armed forces was in full swing.

Abu Dhabi has been named in honour of Dr George Matthew, a UAE citizen of Indian origin, in recognition of his remarkable contributions to the emirate's healthcare sector over nearly 60 years, as reported by Khaleej Times. Dr Matthew, now 84 years old, first arrived in the UAE in 1967 as a 26-year-old, long before the country's unification. Over the past six decades, he has played a pivotal role in shaping Abu Dhabi's healthcare system, witnessing its transformation from its early days to its current state. Notably, he was the first doctor to work in a government hospital in Al Ain, leaving a lasting impact on the country's medical landscape, as reported by Khaleej Times.

Kanwar Yatra with a helicopter and also shower flowers on kanwariyas, an official statement issued here said on Saturday. According to the statement, Chief Secretary of the Uttar Pradesh government Manoj Kumar Singh and Director General of Police (DGP) Prashant Kumar convened a review meeting ahead of the yatra with officials of different states in Meerut Divisional Commissioner Auditorium. The meeting was attended by senior police and administrative officials of Meerut, Saharanpur, Aligarh and Moradabad divisions along with officials from Uttarakhand, Delhi, Haryana and Rajasthan. During the month on Sawan, which begins from July 22, people from Delhi, Haryana and Rajasthan walk to Rishikesh and Haridwar in Uttarakhand to collect water from the Ganga river and bring it back to be offered in Shiva temples.

Boeing has agreed to plead guilty to fraud to settle charges stemming from the crashes of two of its 737 Max jets

The U.S. Marshals Service, which is part of the Department of Justice, has selected Coinbase Prime to handle custody and advanced trading services for large-capitalization digital assets that have been forfeited to law enforcement, according to a Coinbase blog post Monday.

Hudson’s Bay Co. made headlines last week after announcing it hoped to create a powerhouse in the world of luxury goods with the acquisition of Neiman Marcus Group LLC, but for some Canadian shoppers at its iconic Bay chain, it’s the basics that remain a bigger concern.

Moll's departure was followed by investment manager Fiammetta Valentini's resignation, Investment Week understands. Due to the recency of her resignation, 7IM declined to comment, but confirmed that she had not left the firm yet. A 7IM spokesperson said: «We can confirm that Moll has left the business. We would like to thank him very sincerely for his contributions and wish him the best in his future endeavours.» 7IM poaches Fidelity International's head of growth for newly created role Moll joined 7IM in 2018 from Coutts and has been head of investment strategy and ESG at 7IM thro...

Goa for the fourth day in a row on Tuesday, which led to waterlogging in low-lying areas and traffic congestion in state capital Panaji and other cities. The India Meteorological Department (IMD) has issued a 'red alert' for Goa on Tuesday, saying heavy to very heavy rainfall was very likely at a few places and extremely heavy rainfall at isolated places with strong surface winds over North Goa and South Goa districts. Continuous rain with short intense spells and winds gusting to 50 kmph are very likely in the coastal state, as per the IMD. Fishermen are advised not to venture into the sea during the 'red alert', while people have been asked to avoid visiting flood-prone areas.

The U.S. Department of Labor says Dollar General has agreed to pay a $12 million fine and improve conditions at its thousands of retail stores nationwide to make them safer for workers

bridge collapse came to the fore in Bihar on Thursday, making it the 10th such incident to have been reported from the state in just over a fortnight, an official said. The latest incident was reported from Saran which witnessed two more bridge collapses in the last 24 hours, District Magistrate Aman Samir said. No casualty was reported after the structure, built 15 years ago by local authorities, collapsed this morning, he said. The small bridge over the Gandaki river was situated in the Baneyapur block and used to connect several villages in Saran with the neighbouring Siwan district.

Enforcement Directorate has filed a charge sheet and also attached assets worth more than Rs 4 crore of former Jharkhand rural development minister Alamgir Alam, his ex personal secretary and the aide's domestic help as part of a money laundering investigation. In a statement on Saturday, the federal agency said it has issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA) on July 4 against Alamgir Alam, his former PS Sanjeev Kumar Lal, Lal's wife Reeta Lal and his domestic help Jahangir Alam. The cumulative value of all these assets recorded under the attachment is Rs 4.42 crore, it said. A charge sheet against these accused, except Reeta Lal, was also filed before a special PMLA court in Ranchi on Thursday, the agency said.

Laffer Tengler Investments CEO and CIO Nancy Tengler explains why she's recommending investing in equities over bonds for the long term.

Central Cottage Industries Emporium — once fondly known as 'Cottage' to craft lovers all over India — ended in disappointment this week. The unwieldy split-level store was almost entirely empty at 4 pm on a weekday afternoon; and that includes the staff as none were to be seen except for the doorman. The pottery department (my destination) was even more deserted as many shelves were empty, and the rest very sparsely filled. Now that there are crafts aplenty available both online and in stores, heading to a government-owned emporium was perhaps naive. Who goes there these days anyway? Only people of my generation or older, presumably, for whom these were once the only places to access India's amazing traditional art and crafts. The paucity of stores selling crafts in the bad old days of socialism made state emporia the only option for traditional weaves, homeware, and even gifts. Some of them were better than others, of course. During my college days, we were fans of mirrorwork kurtas and shawls from Gurjari; the best Chanderi and Maheshwari sarees were from Mrignayani (Madhya Pradesh), Utkalika was a favourite haunt not only for its Sambalpuri ikat sarees but also for patachitra paintings, Lepakshi for Pochampalli and pearls, Poompuhar for wooden Ganeshas and Tanjore plates, Phulkari for, well, phulkari....

Leaviss, who has been at the firm for 27 years, will leave in the autumn to pursue a career in academia. Chorlton is currently head of fixed income at Schroders, a position he has held since 2020, and brings more than 25 years' experience in fixed income markets. He will report to M&G Investments CEO Joseph Pinto. As part of the wider succession, Eva Sun-Wai and Rob Burrows will become co-lead managers of M&G's Global Macro Bond strategy, effective from 1 August 2024. M&G's Fedeli: Taking on the CIO role, 'the big industry disruptor' and global opportunities Sun-Wai joined the f...

Currently, there are only five strong hybrid models available in the market, two of which are offered by Maruti Suzuki. Those models are also cross-badged by Toyota under different names. Honda City, meanwhile, is the only strong hybrid variant outside of the Toyota-Maruti arrangement. Strong hybrids are equipped with a combustion engine and an electric motor and they can either work together or independently based on driving conditions. During low-speed driving, the motor can power the car while the engine takes over during high-speed driving. This is unlike mild hybrid cars where the electric motor is not powerful enough to drive the car solely but provides intermittent bursts of energy when required. In the case of plug-in hybrids, the motor is the main power source while the combustion engine takes over when the battery discharges.

financial institutions must guard against any misadventure or intelligent interpretation of regulations or accounting standards, deputy governor Swaminathan J said in his remarks at the conference of CFOs and statutory auditors organised by the Reserve Bank of India (RBI). Banks must also keep the amount of internal accounts to the minimum as some of these accounts have been found to be used as a conduit for certain fraudulent transactions, Swaminathan who is in charge of financial supervision and inspection departments with the central bank among others said. “We found certain banks having lakhs of such accounts with apparently no valid reason. Some of these accounts were also used as a conduit for certain fraudulent transactions and ever-greening of loan accounts. Internal accounts are high risk in nature on account of its potential for misuse. I therefore request the CFOs to have them rationalised completely, bring them down to the essential minimum and exercise greater control through periodical reconciliation and a proper reporting to the audit committee of the board (ACB), Swaminathan said.

ED) Mumbai has provisionally attached assets worth Rs 14.02 crore of five accused under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA) in the case of an Income Tax Refund fraud of Rs. 263 crore. This includes one flat in Mumbai of Purushottam Chavan, land parcels in Lonavala and Khandala of Rajesh Batreja, balance in Anirudh Gandhi's company bank A/c, insurance policies of accused Rajesh Shetty and Bhushan Anant Patil and fixed deposits totalling to Rs. 14.02 crore, the ED said in a release on Friday. According to officials, ED initiated an investigation on the basis of an FIR registered by CBI under various sections of the IPC, 1860 and of Prevention of Corruption Act, 1988 against Tanaji Mandal Adhikari and others for fraudulently generating and issuance of TDS refunds from the Income Tax Department to the tune of Rs. 263.95 Crore.

SKM on Thursday announced it will resume its agitation over its pending demands, including a legal guarantee to MSP and loan waiver, and submit a memorandum to the prime minister and the leader of opposition in the Lok Sabha. The Samyukt Kisan Morcha (SKM), which led the 2020-21 farmers' protest, made the announcement a day after its general body met. «The general body has decided to resume the agitation demanding implementation of the agreement, dated December 9, 2021, that the Union government has with the SKM, signed by the Secretary of the Department of Agriculture, Government of India, and other key demands affecting the livelihood of farmers,» the SKM said. It said the organisation will submit an updated charter of demands to all MPs,

Rep. Virginia Foxx, R-N.C., says students will borrow more in the future, thinking taxpayers will pay it off on ‘The Evening Edit.’