Department Financial News

A former contractor for the Internal Revenue Service has been charged with leaking tax information to news outlets about thousands of the country’s wealthiest people

Federal student loan borrowers will need to start making payments again this month after a three-year-plus pause due to the pandemic

As hundreds of homes burned in Lahaina, the only community in West Maui reserved for Hawaiians emerged almost unscathed from the wildfire that killed at least 97 people

finance and corporate affairs are at an advanced stage of firming up a much-awaited framework for direct listing of Indian companies abroad, which could be introduced later this financial year, said people with knowledge of the matter. The move would set the stage for unicorns and other entities to have easier access to a larger pool of foreign capital, they said, adding that it could also encourage a greater number of startups, with Indians at the helm, to incorporate within the country instead of jurisdictions like Singapore. Initially, the framework will be used to allow direct listing at the International Financial Services Centre (IFSC) at Gujarat's GIFT City. Subsequently, it will govern listings in other jurisdictions as and when the government decides to allow that, the people told ET. «The capital markets division of the Department of Economic Affairs (DEA) and the Ministry of Corporate Affairs (MCA) are firming up rules that will act as an enabler of the direct listing process.

Manipur government has come up with a crop compensation package of ₹38.06 crore for farmers affected by the ethnic violence. It is estimated that the total income loss in the agricultural sector for the state could be ₹226.50 crore. An independent survey conducted by Loumee Shinmee Apunba Lup, a farmers' body, claimed that a total of around 9,719 hectares of paddy fields in the valley could face crop failure as farmers are afraid of going into the fields because of sporadic firing from the lower foothills.

YouTube prank gone awry has led to a court trial, where a Door Dash delivery driver was found not guilty of aggravated malicious wounding.

Humne Gandhi ji ki hatya nahin,unka vadh kiya tha (We didn’t murder Gandhi. We assassinated him)." I could never digest his justification, but Gopal wasn’t a person who got easily agitated.

NEW DELHI : Online real-money gaming firms, and lawyers representing multiple companies in this sector, labelled the Centre’s way of implementation of the new goods and services tax (GST) rate on online gaming companies unprecedented. The stakeholders of the sector, which has remained under fire for numerous taxation issues through the year, claimed that the Centre’s notification of the new online gaming GST regime—done before all states have fully adopted it—could be used as a precedent for breaking the “one nation, one tax" format of GST going forward, and is also in contravention of the law.

farmer from Kerala is challenging stereotypes and redefining the way we perceive agriculture. In a viral video shared on Instagram by Variety Farmer, Sujith, a determined farmer, showcased a unique blend of tradition and modernity as he arrived at a roadside market in an Audi A4 luxury sedan to sell vegetables. Traditionally, farming has been synonymous with hard work in the fields and limited financial gains. However, the evolving landscape of agriculture, driven by innovative approaches and entrepreneurial spirit, is reshaping these perceptions.

Defence Minister Rajnath Singh said on Sunday while underlining the need for effective utilisation of financial resources by the three services. Singh made the remarks after launching several digital initiatives of the Defence Accounts Department (DAD) during its 276th annual day celebrations at Delhi Cantonment. Describing the DAD as the «guardian of defence finance», he emphasised the need to bolster the internal vigilance mechanism so that any suspicious activity can be detected and reviewed immediately.

International Monetary Fund will begin holding meetings in Ukraine on Sunday to discuss policy goals and challenges with government officials and others there, the Fund's country representative Vahram Stepanyan said on Sunday. Ukraine's economy has been hit hard since Russia launched a full-scale invasion in February 2022, and the government has relied heavily on Western aid to finance social and humanitarian payments. The IMF said last week its mission had begun its second review of a $15.6 billion multi-year loan program for the country.

Shiv Sena (UBT) leader Sanjay Raut on Sunday claimed Shiv Sena is the real 'wagh nakh', a tiger claw-shaped weapon, of Chhatrapati Shivaji Maharaj and alleged that the BJP has tried to weaken the Sena by «splitting» it. Maharashtra Culture Minister Sudhir Mungantiwar and officials from his department are slated to go to the UK on October 3 to get the revered weapon back. The 'wagh nakh' was used by Chhatrapati Shivaji Maharaj to kill Bijapur sultanate's general Afzal Khan in 1659.

BMW X2. The video provides a glimpse of the car's side profile and its front fascia. From the teaser video, viewers can discern the coupe-like rear profile with a sloped roofline, an angled rear hatch, and a subtle fixed spoiler.

Afghan embassy in India stated that a failure to meet expectations in serving Afghanistan's interests is another crucial factor in shutting off the embassy. India has not recognized the Taliban government, which seized power in Afghanistan in August 2021.

India Meteorological Department (IMD) has raised a 'red' alert for Goa, indicating the likelihood of heavy rainfall in the coastal region within the next 24 hours. According to the IMD's nowcast weather warning, the forecast anticipates «moderate to heavy bouts of rain, accompanied by winds reaching speeds of 40 to 50 kilometres per hour, with gusts up to 60 kmph.» The IMD noted the presence of clouds in the morning over the talukas (administrative regions) of Pernem, Tiswadi, Bardez, Bicholim, and Sattari, all located in the North Goa district of the state. «More clouds are approaching from the Arabian Sea.

Rs 2000 bank notes from September 30, 2023.

Bengaluru transport department has banned carpooling using mobile application platforms like Quick Ride and others following complaints from taxi drivers, according to a report of The Times of India. Additional commissioner (enforcement) of the transport department, Mallikarjun C, informed TOI that individuals engaging in carpooling through these apps could face serious consequences. Offenders may have their registration certificates (RC) suspended for up to six months and could be fined anywhere from Rs 5,000 to Rs 10,000. The transport department maintains that carpooling apps are in violation of regulations by aggregating private cars that are not authorized for commercial use.

Read more During the meeting, Jaishankar and Blinken affirmed hope for positive outcomes from the bilateral talks. Antony Blinken said that the two leaders have had very good discussions lately and is looking forward for the talks. Also read The Bombay High Court granted permission for the leave petition filed by Rakesh Jhunjhunwala-owned Akasa Air to proceed against the five pilots who departed from the company without fulfilling their notice period obligations.

income tax audit report under section 44AB of the Income Tax Act, 1961, has not been extended by the income tax department. If a taxpayer has not submitted the audit report on or before September 30, 2023, they can still do it, albeit by paying a penalty. The Income Tax Act levies a penalty of 0.5% of the total sales/turnover/gross receipts (whichever is applicable) or Rs 1.5 lakh whichever is lower, for late submission of tax audit report. It is important to note that if the income tax return is filed without the submission of an audit report, then it will be considered as a defective ITR.

India received 'normal' rainfall during the four-month-long monsoon season despite El Nino conditions, the India Meteorological Department (IMD) said on Saturday. The country received 820 mm of rainfall against the long-period average (LPA) of 868.6 mm, or 94.4% of LPA, the agency said in its final summer rainfall season briefing. Economists said while kharif sowing has been more than last year, the lesser acreage for pulses and oilseeds because of deficient August rain could cause inflationary pressure. The country as a whole recorded 5.7% less rainfall compared to normal, said Mrutyunjay Mohapatra, Director General of Meteorology, IMD on Saturday. «The effect of El Nino was countered by other factors, and so it could not affect rainfall too much,» he added. The IMD had forecast 96% rainfall with a model error of plus or minus 4% at the start of the monsoon season. Higher rainfall in September made up some of the high deficit in August with 73% of sub-divisional areas recording normal rainfall and 18% recording deficient rainfall. Economists said the record-high deficit in August will dent agriculture. «Rains in September may not be adequate to offset the dry spell in August.

₹2,000 notes till October 7, 2023. The earlier deadline for returning ₹2,000 notes was set to expire on Saturday. As per the RBI release, the deposit or exchange of ₹2,000 notes at bank branches will be stopped from 8 October.