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MUMBAI: Strong governance intent can eliminate regulatory gaps and overlaps, RBI deputy governor Swaminathan J said, urging boards and regulators to move beyond procedural compliance. Speaking at the Gatekeepers of Governance Summit in Mumbai on Nov 7, he said boards must “own outcomes, not paperwork.”He outlined five practices essential for sound governance — boards owning…
NEW DELHI: Net direct tax collection has grown 7% so far this fiscal year to over Rs 12.9 lakh crore on higher corporate tax mop-up and slower refunds. Refund issuances dropped 18% to over Rs 2.4 lakh crore between April 1 and Nov 10. Net corporate tax collection during the period stood about Rs 5.4…
The US Supreme Court had, once again, refused to order the Trump administration to provide full funding for the Supplemental Nutrition Assistance Program (Snap). Instead it has chosen to allow congress additional time to resolve the matter through a possible agreement tied to ending the government shutdown.In an order issued on Tuesday (local time), the…
MUMBAI: The board of directors of Adani Enterprises (AEL), the flagship of the Ahmedabad-based Adani group, on Tuesday evening gave its nod for a rights offer to mobilise up to Rs 25,000 crore. For every 25 AEL shares held by its shareholders on the record date (Nov 17), they will have the rights to subscribe…
MUMBAI: The Insurance Regulatory and Development Authority of India (Irdai) is closely examining the shortfall in the settlement of health insurance claims, even as over half of the complaints received under the insurance ombudsman system relate to health policies.At the Bima Lokpal Day event on Tuesday, Irdai chairman Ajay Seth said, “In health insurance, we…
MUMBAI: Tata Trusts, which controls India’s largest conglomerate, $180-bn Tata Group, has inducted chairman Noel Tata’s son, Neville Tata (33), to the board of its flagship Sir Dorabji Tata Trust (SDTT). Speculation over Neville’s entry into the Trusts’ main entity had been building since Mehli Mistry’s exit last month. With Neville’s induction, three Tata family…
In a move set to ease taxpayer grievances and streamline refund corrections, the Central Board of Direct Taxes (CBDT) has authorised the Commissioner of Income Tax (CPC), Bengaluru, to directly rectify mistakes in assessment orders under Section 154 of the Income-tax Act, 1961.The notification, issued on October 27, 2025 (No. 155/2025), gives the Bengaluru-based Centralised…
A new property purchase can feel like a proud milestone — until a letter from the Income Tax Department lands in your inbox asking where your money came from. Experts say that such notices are becoming increasingly common as tax authorities use advanced data analytics to verify whether property buyers’ declared income matches their level…
Neville Tata has been appointed by Tata Trusts to the board of Sir Dorabji Tata Trust (SDTT). Neville Tata is the son of Tata Trusts chairman Noel Tata. Group veteran Bhaskar Bhat has also been inducted.This appointment strengthens Noel Tata’s position whilst elevating Neville, aged 32, to one of the most significant roles within the…
The longest federal government shutdown in US history may be nearing its end, but economists say it has already left deep scars on an economy struggling with slow growth, inflation, and uncertainty. With 1.25 million federal workers unpaid since October 1 and thousands of flights canceled, the economic fallout is being felt nationwide — from…
