As it analyses bank deposits post demonetisation, the government has found that an estimated Rs 3-4 lakh crore of tax-evaded income could have been deposited during 50-day window provided to get rid of junked Rs 500/1000 notes.A senior official said Income Tax Department has been asked to scrutinise details and send notices to depositors of of Rs 3-4 lakh crore on which tax could have been evaded.
Post demonetisation, cash-based transactions worth Rs 25,000 crore have moved to the digital mode, says a survey.It showed that 15 per cent of transactions moved to electronic payments such as m-wallets and Point of Sale machines.
5 per cent purity climbed Rs 330 each to Rs 29,030 and Rs 28,880 per ten gram, respectively, a level last seen on December 5 when it had closed at Rs 29,050.The precious metal had shed Rs 40 in yesterday's trade.
Tata-SIA joint venture airline Vistara today launched a special fare scheme for economy travel with ticket prices starting as low as Rs 899 across its domestic network for a limited period to celebrate its second anniversary.Customers booking tickets on Vistara's website or mobile app will also get gift vouchers worth Rs 500, a release said today.
The government suspects that an estimated Rs 3-4 lakh crore of black money may have made its way to banks during the 50-day window provided for depositing the scrapped 500 and 1000 rupee notes post demonetization.A senior official confirmed that the Income Tax Department has been asked to send notices to depositors of Rs 3-4 lakh crore on which tax could have been evaded.
Adani Enterprises has already incorporate a new company, Adani Cementation (ACL), which will carry on the cement business.He said the fresh investment would create an additional 25,000 jobs in the state both directly and indirectly.
The airline inducted the first A320 neo -- which have better fuel efficiency -- in June last year and now has a fleet of 23 aircraft.While GoAir did not disclose the total value of the latest order for 72 aircraft, a back of the envelope calculation based on Airbus listed price for 2016 shows that the order would be worth more than Rs 52,000 crore.
9 per cent jump in profit to Rs 6,778 crore for the third quarter of the current fiscal.It had reported net profit of Rs 6,110 crore in the October-December period of last fiscal.
Paving the way for Rs 3,050 crore cumulative penal action on telecom operators Bharti Airtel, Vodafone and Idea Cellular, the Attorney General is learnt to have opined that the Department of Telecom has power to impose penalty on grounds of poor quality of service.The Telecom Regulatory Authority of India (TRAI) had recommended imposing Rs 1,050 crore penalty each on Airtel and Vodafone and Rs 950 crore on Idea for violating quality of service rules.
The availability of cheap 4G phones is bound to have a negative effect on the growth of smartphone industry.According to a report by Economic Times, Reliance Jio will soon launch a new product category.
Country's second-largest software firm Infosys today reported a 7 per cent growth in its consolidated net profit at Rs 3,708 crore for the October-December quarter of the current fiscal.8 per cent against 8-9 per cent estimated earlier.
Sunil Mittal-led Bharti Airtel Ltd on Thursday unveiled its plan for setting up a payments bank with an initial investment of Rs 3000 crore to build a nationwide network.This new set of banks is expected to increase competition in the sector by offering higher interest rates on deposits.
A total of Rs 3 crore in cash was seized from a cash van on Thursday by Indirapuram police after the four persons, claiming to be staff of a private bank, carrying it were unable to produce vaild document, a senior police official said.At around 11 AM, Indirapuram police intercepted a cash van near the UP gate on the border of Delhi and Uttar Pradesh and recovered Rs 3 crore, the official said.
In one of the largest deals in the fast-growing Indian aviation sector, SpiceJet will buy up to 205 new aircraft from Boeing with the order valued at Rs 1,50,000 crore.The multi-billion dollar deal struck after long-drawn discussions will see the airline buying more fuel-efficient 155 Boeing planes, with the delivery slated to start from 2018.
In an extraordinary act of generosity, a wealthy businessman in Northern Ireland stunned the staff at an Indian restaurant after he left a 1,000-pound tip for them for a 79-pound meal.Workers at 'The Indian Tree' in Portadown were given the huge wedge by the generous customer after he paid for a 79.
The Finance Ministry is likely to finalise capital infusion plan for public sector banks (PSBs) this week based on the request of various lenders which have been impacted by demonetisation amid rising bad loans.Saddled with rising bad loans, banks have already made a case for higher capital infusion and it is reflected in their demand sent to the ministry, sources added.
43 billion rupees for its investors, based on the indicative price range for the sale announced on Monday.Investors, led by Singapore Exchange Ltd, Atticus Mauritius and billionaire George Soros' Quantum, will be selling up to 15.
Reserve Bank on Monday increased ATM withdrawal limit from existing Rs 4,500 to Rs 10,000 per day.The central bank also announced enhancement of withdrawal limit from current accounts.
LIC Housing Finance has reported a rise of 19.2 per cent in its net profit at Rs 499.
6 crore) in funding from e-commerce giant, Flipkart.With the funding, the startup plans to advance its products, improve user experience and expand on services, Tinystep said in a statement.