RELATED PARTY TRANSACTION
What is AIS, how to download it and how it helps taxpayers in ITR filing?
What is AIS, how to download AIS: Annual Information Statement (AIS) is a statement introduced by the income tax department in 2021. This statement is a comprehensive which help individuals and other taxpayers to get access of most of their financial transactions done in a financial year. It also helps in the knowing different sources of income.
Trial court bail to Delhi CM Arvind Kejriwal had 'exposed' BJP's conspiracy, so ED challenged it in HC: AAP MP Sanjay Singh
AAP leader Sanjay Singh accused PM Modi of undermining justice system as Delhi HC halted a trial court's bail to CM Arvind Kejriwal in money laundering case. Singh claimed BJP's conspiracy, demanded apology. He criticized ED's challenge to the court order before its publication, alleging false evidence to target AAP.
Cash spending during elections 22 per cent higher this time
Incremental currency in circulation since the election commission announced the election date in March till the last phase of election at Rs 89,080 crore as of June 7 was 22 percent higher than Rs 72,680 crore in the same period of 2019 elections. This could be probably due to the impact of COVID related disruptions and the surge in inflation over the five year period.
Godrej Properties sells 5% in Godrej Green Homes to Godrej Fund Management
Godrej Properties sells 5% equity stake in Godrej Green Homes to Godrej Fund Management and Investment Advisors for Rs 46.70 crore.
NRI Investing Guide: Are you legally allowed to buy agricultural land in India?
NRIs in India face restrictions under FEMA when purchasing agricultural land, but can inherit it from relatives to reconnect with their roots.
Four European Union banks seek RBI nod for clearing model
"There was a meeting last month between the heads of four European banks and top RBI officials. The banks have sought the RBI's approval on the proposed third-party model because there is no established rulebook for this kind of arrangement," a source aware of the developments said.
Nestle India shareholders vote against increase in royalty to Swiss parent
Shareholders of Nestle India Ltd have turned down the company's proposal to raise the royalty payout to its Swiss parent. The resolution did not pass, with 57% of its shareholders voting against the plan, the packaged foods maker said in a stock exchange filing on Friday. The proposal was to increase the royalty by 0.15% of sales for each year over a duration of five years.
Nestle India shareholders vote against increase in royalty to Swiss parent
Shareholders in Nestle India have rejected a company proposal to increase royalty payments to its Swiss parent Nestle, the company said late on Friday.
Despite Western pressure, China in no hurry to reduce Russia support
China supports Moscow in the Ukraine war despite Western pressure. Beijing backs President Vladimir Putin, exporting essential dual-use products monthly. Western sanctions target Russia's struggle to sustain the assault without Beijing's support.
PNB warns customers not to trust phone numbers, addresses found through these modes; puts limits on these transactions
PNB has noticed that some unscrupulous individuals have pretended to be Punjab National Bank officials on phone calls and SMS messages, using our name and brand while purporting to be promoting fake products in an attempt to deceive consumers.
Donald Trump faces jail threat over gag order as prosecutors zero in on transactions at heart of the case
Former President Donald Trump faces the threat of jail time for violating a gag order in his hush money trial. Big-name witnesses like Stormy Daniels and Michael Cohen are expected to testify, shedding light on alleged cover-ups and deceptive practices related to payments made during the 2016 presidential campaign. Despite warnings from the judge, Trump's inflammatory out-of-court comments continue, leading to fines and the possibility of incarceration as a last resort.
Perfect and Relative Truth: 6 private and PSU banks stocks with upside potential of upto 34 %
Five years back, ask anyone on the street and he or she would be all in for private banks as an investment both as long term or short term. Nobody would talk of PSU banks as something which are worth investing in. Today, the situation is different. They will not criticize private banks as they all own them, but they will talk about how private banks are facing competition from fintech and how things are changing. But at the same time, they would also not fully trust the revival of PSU banks, both in business and in terms of the valuation recovery. The reality is that in the stock market, there is nothing called perfect truth, it is about relative truth. The answer to this problem of either private or public sector banks probably lies in owning a select few from both spaces. So, that one is able to take advantage of tactical recovery but also long term trend.
NSE to assess Linde India’s related-party transactions
NSE has to share the valuation report with Sebi and the company. Within two weeks of receiving the valuation report, Linde should place it before the audit committee and board of directors, the regulator said in an interim order.
FIU notifies fresh money laundering, terror financing reporting alerts for capital markets
India’s financial intelligence unit issues new alert indicators under PMLA for various sectors to combat money laundering and terrorism financing. Collaborations with regulatory bodies aim to strengthen monitoring, reporting, and analysis of suspicious transactions for law enforcement agencies. These new guidelines have been issued under the provisions of the Prevention of Money Laundering Act (PMLA) during the 2022-23 financial year and published in a recently released report that has been accessed by PTI.
Realtors' bank details set to be included in recovery warrants
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has made it compulsory for real estate developers to include their bank account details in recovery warrants sent to the revenue department. This move aims to streamline the compensation recovery process for homebuyers facing delays or discrepancies in property transactions. By disclosing developers' bank account information, MahaRERA aims to enhance accountability and ensure timely compensation for affected parties. The authority has recovered over ₹125 crore in the last 14 months and appointed a retired additional collector for compensation recovery.
Paytm likely to partner with four banks for enabling UPI transactions, sources say
Paytm, India's third-largest UPI app, is set to partner with Axis Bank and other banks for UPI transactions. However, Paytm faces disruption as it must wind down its banking unit by March 15, as ordered by RBI.
Sanghi Industries gets shareholder nod for related-party transactions
Sanghi Industries secures shareholders' consent for related-party transactions with ACC, Ambuja Cements, and Adani Enterprises. Despite some opposition, the resolutions pass, allowing the company to sell its cement and clinker to ACC and Ambuja, and purchase coal from Adani Enterprises.
Sanghi gets shareholders' nod for related-party transactions
Of the public institutions that voted, a little over 93% were in favour of the transactions related to ACC and Ambuja Cements. Voting in non-institutional public shareholders showed nearly 86% in favour of the transaction.
Banks want boards kept out of loan renewals in 'related party' cases
Lenders want the regulator to tweak the age-old rule. "We have told the Reserve Bank of India (RBI) to modify the regulation so bank boards are not involved in proposals on renewal of loans when there is a 'related party' issue," a senior banker told ET.
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