WhatsApp Financial News

Congress lost income tax exemption in 2018-19 due to extensive use of cash in the electoral process, sources said, justifying that Rs 135 crore tax recovery from the party was consistent with the provisions of the Income Tax Act. Based on incriminating material seized by the Income Tax Department during search operations, specifically in April 2019, reflecting extensive use of cash in the electoral process, assessments of the party were reopened for seven years (AY 2014-15 to AY 2020-21), sources said. Following the assessment, demand was raised in 2021, and communications to pay demand were sent many times, they said, adding that stay applications filed by the assessee were rejected during the proceedings. Subsequently, even after 33 months of the assessment order and 10 months of the Commissioner Income Tax (Appeal) order, when the assessee had not complied with the demand raised, recovery proceedings under Section 226(3) of the Act were undertaken, sources said.

Mumbai plunged into darkness for a second consecutive day on late Friday evening following a snag, electricity officials said. The snag was caused at a 33 kilovolt (kv) feeder of city power discom Brihanmumbai Electric Supply and Transport (BEST) undertaking near Crawford Market, they said.

CP Joshi from Rajasthan's Bhilwara as it released its ninth list of three candidates and two replacements for the Lok Sabha polls. In Karnataka's Chikkaballapur constituency, the party chose to nominate Raksha Ramaiah instead of former Union minister M Veerappa Moily, prioritizing youth over experience. The 84-year-old Moily was elected from the Chikballapur constituency twice in 2009 and 2014 but lost in 2019.

income tax demand of over Rs 1,800 crore from the Congress party amounts to «hanging democracy by the gallows», the Kerala unit of the grand old party said on Friday. The Congress party in Kerala on Friday announced that a sit-in protest will be held on Saturday before the Income Tax Department offices in Thiruvananthapuram, Kochi and Kozhikode, protesting against the IT notice to pay penalty. KPCC Acting President M M Hassan said the thousands of Congress workers and leaders will take part in the protest against the «heinous» acts of the Narendra Modi government. «The fresh action against opposition parties amounts to hanging democracy by the gallows,» Hassan said. The senior Congress leader said that already the IT Department has «taken» Rs 135 crore from the accounts of the Congress party. «The government has already frozen the accounts of the Congress party and its affiliated organisations. Such moves are not even heard of under authoritarian regimes,» Hassan said.

NIA) on Friday announced a reward of Rs 10 lakh each for sharing information leading to the arrest of two key accused in Bengaluru's Rameshwaram Cafe blast case. The agency requested the general public for information on Mussavir Hussain Shazib alias Shazeb and Abdul Matheen Ahmed Taahaa alias Abdul Matheen Taha wanted in the case, according to a post on X. In a major breakthrough, the NIA had on Wednesday arrested Muzammil Shareef, a key conspirator in the blast case.

Tihar prison authorities on a plea by BRS leader K Kavitha alleging that despite court orders, she was not provided access to certain items, including home-cooked food and mattress, in jail. Earlier on Tuesday, Kavitha had moved a plea seeking access to some items because of her medical condition. Special Judge Kaveri Baweja had then passed an order directing the concerned superintendent of Tihar Jail to permit Kavitha to have home-cooked food, mattress, slippers, clothes, bed- sheet, books, blanket, pen, paper, jewellery and medicines «in accordance with rules». Kavitha, however, filed a fresh plea on Thursday, saying the court order allowing her access to these items was not followed.

Murugha Mutt in Dharwad, a religious mutt of Veerashaiva-Lingayats, has distanced itself from the demands for replacement of Union Parliamentary Affairs Minister Pralhad Joshi as the BJP candidate by March 31. Fakir Dingaleshwar Swami, the head of a Lingayat mutt in Shirahatti, held a meeting with a group of community seers at Murugha mutt premises in Dharwad on Wednesday, and sought Joshi’s replacement on grounds that he suppressed the community members. The clarification from Sri Mallikarjuna Swami, the head of Murugha Mutt, has come as a big relief for Joshi who has been winning the Lok Sabha polls in Dharwad with the solid backing of Lingayats, who are dominant in the region.

Kia India on Friday said it is planning to have around 700 sales and service touchpoints in 300 cities by the end of the year. The automaker, which sells models like Seltos and Sonet, has 522 such touchpoints across 236 cities. The company said it is focussed on strengthening its presence in Tier-1 and Tier-2 markets, contributing 40 per cent to its total network strength. Kia India is also focused on expanding its touchpoints in the Tier-4 and upcountry markets, it added.

Ahmedabad turning her celebratory mood into a frustrating mess. The Vadodara District Consumer Disputes Redressal Commission recently imposed a fine of Rs 5,000 on the boutique, La Vichitra, for causing «mental trauma» to the woman. The incident unfolded when the complainant, Deepika Dave of Ahmedabad, visited the boutique in October 2017 to have three matching blouse pieces stitched for saris she had purchased elsewhere. Additionally, she provided two dresses for her daughter's stitching, paying a total of Rs 5,000 for the job. Upon trying on the garments in November 2017, Dave discovered that all three blouses and her daughter's dresses were improperly stitched. Despite her request for the boutique to rectify the issue at no extra cost, the owner refused.

Royal Fleet Auxiliary, have arrived at Larsen and Toubro's Shipbuilding facility at Kattupalli near here for scheduled maintenance activities. RFA 'Argus' and RFA 'Lyme Bay' arrived at the shipyard located in Ennore, North of Chennai for 'Assisted Maintenance Period' and Self Maintenance Period", respectively, a press release from L&T Shipbuilding said on Friday.

Adani Green Energy on Friday announced the beginning of the operation of its 775 megawatt solar power projects in Khavda, Gujarat. The capacities have been operationalised after securing relevant clearances, Adani Green Energy Ltd (AGEL) said in an exchange filing. Adani Green Energy through its various wholly-owned stepdown subsidiaries has operationalised an aggregate 775 MW solar power projects at Khavda, Gujarat, it said. «Based on the relevant clearances, it was decided at 00:12 am on March 29, 2024 to operationalize the plant and commence power generation from March 29, 2024,» the company said.

MLA and former minister Surendra Singh Bhoi resigned from the primary membership of the party after 38 years and joined the ruling BJD on Friday. Two BJP leaders — Nilgiri MLA Sukant Nayak and the party's Cuttack district president Prakash Chandra Behera — also resigned from their party and are likely to join the BJD. In a letter to AICC president Mallikarjun Kharge, Surendra Singh Bhoi said he has resigned from the post of Bolangir district Congress committee (DCC) president as well as the party. «I beg to say here that due to personal reasons I would like to resign from the primary membership, and the post of president DCC, Bolangir as well as AICC membership. With great honour, I thank you for giving me an opportunity to serve the party and my state for 38 years with passion, dedication and discipline,» he said in the letter.

Amit Shah is likely to visit Tripura for two days from April 7 and will address a rally and hold a roadshow the next day as part of the BJP's campaign for its candidates in the two Lok Sabha seats in the northeastern state, a party leader said on Friday. During his proposed visit, Shah is also expected to chair an organisational meeting of party leaders, he said. «Amit Shah ji, who is scheduled to address a rally in Mizoram on April 7, is likely to arrive in Tripura on the same day. He will hold an organisational meeting, address a rally in Gumati district's Udaipur and a roadshow in Agartala,» BJP state general secretary Amit Rakshit told PTI. He said Tripura Chief Minister Manik Saha held a meeting with senior party leaders on Thursday night for Shah's visit to the state.

special resolution to grant stock options to eligible employees, key managerial personnel (KMP) and its whole-time directors, according to a regulatory filing by the company. The company through a notice of postal ballot dated February 14, 2024 had sought approval for three special resolutions, including consideration and approval of Ipca Laboratories Ltd Employees Stock Option Scheme 2024 for grant of stock options to eligible employees, KMPs and whole-time directors of the company. Except the resolution pertaining to approval of Ipca — Employee Stock Option Scheme — 2024, all the other resolutions placed before the shareholders as per the notice of the postal ballot dated February 14, 2024 have been passed by the requisite majority, Ipca Laboratories said in a filing on BSE.

Jammu-Srinagar National Highway and fell into a gorge in Ramban district on Friday, officials said. The vehicle, a Tavera, was on its way to Jammu from Srinagar and it fell into a 300 feet gorge at the Battery Cheshma area of the district around 1.15 am, they said. Ten people have died, the officials said. Police and State Disaster Response Force (SDRF) personnel are at the spot. The bodies of 10 passengers have been recovered amid heavy rains, the officials said.

Hardeep Singh Puri on Friday compared Chief Minister Arvind Kejriwal's wife to former Bihar Chief Minister Rabri Devi, and said she is perhaps preparing to hold the post of her husband. «The madam your are naming is perhaps preparing to hold the post like Rabri Devi did in Bihar,» the senior BJP leader told reporters here at the inauguration of the Delhi BJP's election office. The Union Minister for Housing and Urban Affairs was responding to a question about AAP leader Arvind Kejriwal's wife Sunita. Earlier in the day, Sunita Kejriwal launched a WhatsApp campaign, urging people to support her husband, who is in ED custody in an excise policy-linked money-laundering case.

Election Commission (EC) on Friday said its C-Vigil mobile application has become an effective tool in the hands of people for flagging poll code violations and since the announcement of the Lok Sabha election, more than 79,000 complaints have been received. More than 99 per cent of the complaints have been resolved and close to 89 per cent of those were resolved within 100 minutes, the poll panel said. More than 58,500 complaints (73 per cent of the total number of complaints) received were against illegal hoardings and banners, the EC said, adding that over 1,400 complaints received pertained to money, gifts and liquor distribution. Close to 3 per cent of the complaints (2,454) were related to defacement of property.

earthquake with a preliminary magnitude of 5.7 has struck southern Greece off the coast of the western Peloponnese. There were no immediate reports of damage or injuries from the quake, which was also felt in the Greek capital and as far away as the southern island of Crete. The quake struck Friday morning and was centered beneath the seabed near the Strofades islands, about 120 kilometers (75 miles) south-southwest of the western city of Patras, according to the Athens Geodynamic Institute.

With regards to home loan interest rates that will be offered after the merger, as per FAQs released, «The applicable rate of interest to your account shall now be linked to EBLR (External Benchmark Lending Rate) instead of Retail Prime Lending Rate (RPLR). This is in compliance with the regulatory guidelines on floating rate of interest. On the day of the merger there will be no change in ROI and any changes in future will be based on EBLR.» Also read: HDFC-HDFC Bank merger:Important FAQs answered for existing home loan borrowers of HDFC

Giridhar Aramane on Friday inaugurated a hovercraft maintenance unit of the Indian Coast Guard at Okha in Gujarat's Devbhumi Dwarka district, said an official. Hovercraft are used in amphibious operations. Director General of the Indian Coast Guard Rakesh Pal and other senior ICG officials were also present at the inaugural ceremony, the maritime security force said in a release. «The Hovercraft Maintenance Infrastructure shall provide a fillip to the operational readiness in forward areas,» it said. Talking to reporters after the ceremony, Aramane said the Centre is committed to increasing the ICG's strengths and capabilities so that it can protect the Indian coastline without any trouble.

Real estate consultant Cushman & Wakefield on Friday released the data for launches of residential properties in the primary (first sale) of eight major cities. New supply has increased in Bengaluru and Mumbai but declined in Delhi-NCR, Chennai, Hyderabad, Pune, Kolkata, and Ahmedabad. Out of the total launches of residential properties in this quarter, the high-end and luxury segment had a 34 per cent share.