Department Financial News

₹115 crore attached by the tax department will be transferred to the exchequer as per the procedure followed in the case of any citizen defaulting on tax dues, a person informed about the working of the tax department said on Friday. If the funds are insufficient, the same would be recovered as and when they are deposited into the accounts, the person cited above said, requesting not to be identified. This comes after news reports of a Congress party leader saying on Friday that the party’s bank accounts were unfrozen by the Income Tax Appellate Tribunal (ITAT) after the party filed an appeal before it.

Vistara and Air India pilots will have a uniform salary structure from March as the two airlines integrate their human resource departments as part of a broader consolidation of the Tata group's aviation business. As part of this, pilots of Vistara will get a fixed salary for 40 hours instead of the current 70 hours. They will get paid for extra flying hours and will also earn an additional amount as a reward based on the years of service with the airline, according to a memo sent to pilots and reviewed by ET. While restructuring of salary is the first step, both the companies will also align policies and other benefits subsequently, the pilots were told. However, a complete integration of operations will take time as it will happen only after receiving regulatory approvals.

The matter pertains to income tax litigation around the utilisation of surplus and the disallowance or addition related to interim bonus, the company said in customary filings with the stock exchange. From a cash flow perspective, LIC stands to receive ₹25,464 crore.

Former Assistant Treasury Secretary Monica Crowley discusses the strain inflation is having on the middle and lower class on 'The Bottom Line.'

(Updated — February 16, 2024 11:09 AM EST)

Hawaii on Monday.The two men in the scrap were on a Southwest Airlines flight en route to Kauai from the Oakland International Airport.In the video, which was first shared to Instagram by the user @kauai.airbnb, the two men are seen arguing before one traveller reaches out to slap the other. The second man, wearing a dark ballcap, retaliates with a right hook to the other passenger’s head.Things go sideways from there and the two men exchange blows — all while a woman is trapped between them, ducking down in the seats.Other passengers and flight staff erupt in surprise and try to intervene as the fight continues.

Americans who are struggling to repay federal student loans because of financial hardship could get some of their debt canceled under President Joe Biden’s latest attempt at forgiveness

Americans pulled back their spending in January after splurging during the holiday season

Fewer Americans filed for jobless claims last week as the labor market continues to show resilience in the face of elevated interest rates

The Biden administration is giving airports $970 million for improvements in terminals including things like wider concourses, new baggage-handling systems, and more gates

Cleveland-Cliffs is shutting down a northern West Virginia tin production facility indefinitely and plans to lay off 900 workers

By Mohi Narayan and Yuka Obayashi

Republican lawmakers bashed and Democrats praised a Department of Labor investment advice proposal Thursday at the second congressional hearing on the measure since the beginning of the year.

₹10,000 crore. The proposal for an AIIMS in Rewari was announced in the central budget back in 2019.

Alex Miller is sharing about his commiseration with a deadly car accident's victim where he was the passenger. Alex Miller, who is the Country singer was not driving any of the vehicles which were involved in the accident post the return from a holiday on Tuesday.

₹3,300 per tonne and has also reintroduced a ₹1.5 per litre special additional excise duty (SAED) on the export of diesel. For the past two weeks, the SAED on the sale of locally produced crude oil stood at ₹3,200. The duty on the export of diesel was at zero since 1 January.

government on Thursday invited applications for appointment to the posts of judicial members and technical members in the GST Appellate Tribunal (GSTAT). There are 63 vacancies for the post of judicial members and 32 vacant positions for technical member (Centre) and 1 for technical member (state). GSTAT will have one principal bench at Delhi and 31 state benches at various locations across states.

By Bianca Flowers and Shivansh Tiwary

Former Assistant Treasury Secretary Monica Crowley discusses the strain inflation is having on the middle and lower class on 'The Bottom Line.'

WASHINGTON (Reuters) — U.S. retail sales fell more than expected in January, pulled down by declines in receipts at auto dealerships and gasoline service stations.

Former Assistant Treasury Secretary Monica Crowley discusses the strain inflation is having on the middle and lower class on 'The Bottom Line.'