Income Disclosure

Contributed funds to a political party? Have gains from cryptos? The taxman wants more details

State-owned Indian Overseas Bank (IOB) on Wednesday reported 30 per cent rise in net profit at Rs 723 crore for December quarter 2023-24, on the back of improvement in core income and reduction in bad loans. The Chennai-based lender had earned a net profit of Rs 555 crore in the same quarter a year ago. Operating profit of the bank improved to Rs 1,780 crore as against Rs 1,540 crore in December 2022. Total income increased to Rs 7,437 crore during the quarter under review from Rs 6,006 crore in the same period last year, IOB said in a regulatory filing. Interest income also rose to Rs 6,176 crore over Rs 5,056 crore for the quarter ended December 2022. During the quarter, the bank had done total cash recovery of Rs 327 crore as against Rs 460 crore in the third quarter of the previous fiscal. On the asset quality front, the bank's gross Non-Performing Assets (NPAs) declined to 3.90 per cent of gross loans by the end of December 2023 from 8.19 per cent a year ago. Similarly, net

Suggests halving disclosure timeline to 12 hours; proposes mandating top 250 listed firms to confirm/deny media reports

Experts said there aren't too many changes in the forms this year. "The forms have been largely kept unchanged," said Rohit Arora, advocate, Uttarakhand High Court.

The government received Rs 6,800 crore as tax in a scheme that ended in September

Jaitley had earlier refused to compare tax collections with the last scheme