Categories
India

CBDT urges IT dept to tighten noose on defaulters

The tax department, as per the latest CBDT order, will cull out this information from the Income Tax Return (ITR) of an assessee.

Categories
Business

Why Birla was declared as wilful defaulter by UCO Bank

Due to the non-repayment of dues to the bank, the UCO Bank had declared the account of the Birla Surya Limited as an NPA on 3 June 2013

Categories
Business

Vijay Mallya must cough up $ 135 million + £ 200 K

He awaits his 2 July oral hearing before another UK High Court judge for his appeal against his extradition

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Article Views

Law-Crazy Governance Affecting Economy

There is a saying in India that “taking a loan of Rs 500,000 is more difficult than taking one of Rs 500 crore”. We have many sick companies but no sick promoters! this does not, however, mean the business class is a monolith. An economy where there is no default is an economy where promoters […]

Categories
India

Mallya arrested on India’s request

New Delhi: Indian businessman and loan defaulter of Indian banks Vijay Mallya was arrested in London on Tuesday by Scotland Yard police on an extradition warrant from India. He was produced before the Westminster Magistrates’ Court where he was given bail. Mallya is also alleged for several other financial irregularities in India. In response to […]

Categories
Interactive Tax

We dare govt to publish names of big loan defaulters

[dropcap]A[/dropcap]s of now, the Income Tax department has published a list of 64 defaulter entities on their website. One can see and access this list on this web page of the department. It’s good that the government has started the practice of publishing and, thus, shaming tax defaulters, but it raises some questions. Are these cases genuine, […]