Tata Steel received an order to reassess its 2018-19 taxable income, increasing the amount by over Rs 25,000 crore. The company moved the B...

The government had introduced a new section (194R) to the Income-tax Act, under which a 10% TDS was to be levied from July 1 on transaction...

Although the Supreme Court (SC) has rejected petitions for a complete waiver of interest and extension of moratorium until the end of FY21,...

In the wake of the COVID-19 situation, the government decided to suspend the provisions starting from March 25 for six months by promulgati...

The changes include cross-border insolvency framework and harsher punishments for irregularities.

Scheme structured under IBC, micro-enterprises, small farmers, artisans, cottage industries to benefit.

Cases under the code can be taken up only after approval from the tribunal, which has benches in different parts of the country.

The IBC’s ‘fresh start’ process provides a systematic manner of waiving debts overseen by a judicial body.

“Shashakt, which is a resolution platform outside IBC is also expected to be activated in 2019.”

Jaitley here puts in perspective and clear doubts about a complex banking and accounting issue.

"This however does not lead to any loan waiver. Recovery of loans continues rigorously by banks," he said. "In fact the defaulting manageme...

Jaitley said his government has recognised the nexus at the heart of this and taken firm decisions with regard to defaulters.

The chamber has also sought exemption from Section 50CA of the I-T Act for the companies which are being revived under the Insolvency and B...

"It is a good thing where a company cannot be turned around you should use insolvency, but that does not mean you take to court every poor ...

ICRA expects gross non-performing assets (GNPAs) of Indian banks to increase to 9.9% to 10.2% by March 2018 from 9.5% in March 2017 with fr...

The govt is 'actively working' toward consolidation of public sector banks, said FM Jaitley. He, however, refused to provide details.

As on September 30, gross NPAs of public sector banks rose to Rs 6,30,323 crore as against Rs 5,50,346 crore by June end.