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I-T seeks Rs 30k cr penalty from Cairn for non-payment of tax

New Delhi: The Income Tax Department has slapped a fresh notice on British firm Cairn Energy, seeking up to Rs 30,700 crore in penalties for its alleged failure to pay Rs 10,247 crore capital gains tax on time. Within weeks of tax tribunal ITAT upholding levy of retrospective tax, the Income Tax Department first sent a fresh demand note of Rs 10,247 crore and another show cause notice asking as to why penalty should not be levied for its failure in paying tax on time and filing of returns.

 

Domestic air passenger traffic up by 15%

Mumbai : The deceleration in the domestic air traffic growth continues for the second consecutive month this year with the demand for travel going up nearly 15 per cent to 90.45 lakh in March. The local airlines had flown 78.72 lakh passengers in March 2016. After posting over 20 per cent growth in domestic passenger market for the 13 consecutive months till January this year, the demand  air travel dropped to 15.77 per cent in February.

 

RDEL gets lenders’ approval to exit CDR

New Delhi: Reliance Defence and Engineering (RDEL) has secured nod from a consortium of lenders to exit its corporate debt restructuring package.The consortium of lenders, led by IDBI, has agreed to the exit plan of RDEL, a subsidiary of Reliance Infrastructure, with a longer maturity period for loans worth about Rs 6,800 crore, sources said. The lenders have also given their go-ahead to implementation of refinancing scheme of RDEL.

 
 
 
 
 

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Sharad faction announces election to JD(U) posts

22 Oct 2017 | PTI | New Delhi

The Sharad Yadav faction of the Janata Dal (United) Party on Saturday announced election to party posts on March 11 and released a list of interim office-bearers, including Chhotubhai Vasava as working president and Ali Anwar as one of the vice-presidents. Yadav also released a list of presidents of party units in states at a press briefing...

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Chouhan to return from US on Oct 28

22 Oct 2017 | Staff Reporter | Bhopal

Chief Minister Shivraj Singh Chouhan will reach Washington DC on October 22. He has been invited by Pt Deendayal Upadhyay Forum, where he will address as a key speaker in the programme organised by the forum...

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