ED attaches 2 planes, land, windmills worth Rs 510 crore of Anil Ambani's group
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Widow faces tax notice for Rs 60 lakh cash deposits; why ITAT treated it as gift from late husband
The Income Tax Department discovered that a woman had deposited Rs 60,07,500 in cash into her bank account during the financial year 2015-16. However, she had not filed an income tax return (ITR) for the corresponding assessment year. The Assessing Officer (AO) subsequently issued a show-cause notice under Section 148A(b) of the Income Tax Act, 1961. As the woman did not respond, the AO passed an order. from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/cOlankz
Centre likely to meet FY27 fiscal deficit target despite despite higher spending: Goldman Sachs
The government is holding steady to its fiscal deficit target of 4.3% of GDP for FY27, even amidst initial financial strains. Increased corporate tax revenues have buffered recent revenue challenges effectively. To address rising costs, the government is implementing thoughtful changes in its spending approach, focusing on capital investments. However, with a reduction in subsidy expenditures, the unpredictable nature of global commodity prices might bring financial hurdles. from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/4ogxTXa