I-T searches 130 premises of Joyalukkas jewellery

Agencies
January 10, 2018

The Income Tax Department today conducted country-wide searches at over 100 stores and other premises belonging to two major south-India based jewellery chains on charges of alleged tax evasion, official sources said.

The action is being carried out against Kerala-based jewellery group Joyalukkas and another firm connected with it.

I-T sleuths are raiding 130 premises of the business houses in the cities of Chennai, Hyderabad, Thrissur and other locations in Kerala, Karnataka, Andhra Pradesh, Telangana, Gujarat, Maharashtra, Delhi and West Bengal, I-T sources said.

The action, they said, is aimed at checking alleged tax evasion following demonetisation in the two firms. Tax sleuths detected huge cash deposits and sale figures of gold, diamond and jewellery in their accounts.

The Chennai wing of the department is coordinating the nation-wide action, involving over 100 tax sleuths and a number of police teams, sources said.

Comments

Abdul Razak
 - 
Wednesday, 10 Jan 2018

Joy Alukkas is world biggest company, even though its GOS Jesus christian follower company, i can see lots of negative from mulims in disguise of hindu names below. GOD Jesus christ bless Joy alukkas

Mohan
 - 
Wednesday, 10 Jan 2018

Finally!!! Great job!

Bala Iyer
 - 
Wednesday, 10 Jan 2018

It is a mystery why the Saravana Group does not attract the attention of any agency.

Rahul
 - 
Wednesday, 10 Jan 2018

Raid them thoroughly and destroy this nest of black money hungry snakes.

Unknown
 - 
Wednesday, 10 Jan 2018

Tax raids were almost forgotten during the last 10 years of congress rule! Why? Same intelligence was there, but it was used to force the target to give donations to party fund.

Anonymous
 - 
Wednesday, 10 Jan 2018

Reliance Jewelers and Gujjus are not making good business. Time to raid these south Indian companies.

Srinivasa Bhat
 - 
Wednesday, 10 Jan 2018

missionaries money. their family has three different groups.. one more gold loan group having more than 10000 branches in all over India, even they penetrated place like munger,jamalpur, gonda, like small towns.. Where ever they working they placed kerla Christian should be there and he/she is responsible & coordinator between local church authority & foreign donor/ conversion group.

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News Network
March 4,2020

Mumbai, Mar 4: BJP leader Devendra Fadnavis on Tuesday said Maharashtra Chief Minister Uddhav Thackeray should not give "vague" replies on the 5 per cent Muslim quota issue and declare "with courage" that his government will not bring law granting reservation to the minority community.

Mr Fadnavis made the remark after Mr Thackeray, during a press conference earlier in the day, said he has not yet received the proposal regarding giving quota to Muslims and that the Shiv Sena-led government is yet to take any decision on it.

Mr Thackeray made the comments after Maharashtra Minority Affairs Minister Nawab Malik recently said in the legislative council that thestate government will provide 5 per cent quota to Muslims in education.

Mr Malik, an NCP leader, had also said the state government will ensure that a legislation to this effect is passed soon.

The NCP and the Congress, both proponents of Muslim quota, are constituents of the Sena-led Maha Vikas Aghadi government.

Asked about Mr Thackeray's remarks on the issue, Mr Fadnavis said instead of making comments at the press conference, the chief minister should make a statement in the legislature which is currently having its budget session.

The Leader of the Opposition in the assembly said that Mr Malik's opinion is the official position of the government as the minister had talked about giving quota in the council.

"So, instead of making vague comments in the press conference, the chief minister should say in the council that it is not his view (the one expressed by chief minister).

"The chief minister gave vague answers during the press conference, saying the proposal has not come to him. Your minister (Malik) only has said it," Mr Fadnavis told reporters outside the legislature building complex.

The BJP leader maintained there is no provision in the Constitution for religion-based reservation in government jobs or education.

"Say with courage that you will not give the quota, that the Constitution doesn't accept quota based on religion. Hence, we (the government) will not bring law granting quota," the former Chief Minister said.

Mr Fadnavis claimed that if given within the 50 per cent ceiling set by the Supreme Court, the Muslim quota will affect the existing reservation granted to OBCs.

"And if given outside it, it will affect Maratha quota," he added.

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News Network
March 6,2020

Bengaluru, Mar 6: In the face of unprecedented economic difficulties, Chief Minister B S Yediyurappa has chosen to hike the prices of fuel and liquor to fund development in his 2020-21 Budget, which tries to offer something for everybody with the available resources.

Yediyurappa announced a 3% hike in the rate of tax on petrol and diesel. This will result in the prices of petrol going up by Rs 1.60 per litre and diesel by Rs 1.59 per litre. This is expected to fetch the government Rs 1,500 crore.

By hiking additional excise duty on Indian Made Liquor (IML) by 6%, the government hopes to mop up Rs 1,200 crore.

In essence, Yediyurappa, the finance minister, pointed fingers at the Centre for the state’s fiscal woes. He said Karnataka’s share in Central taxes has come down this fiscal by Rs 8,887 crore. Plus, Rs 3,000 crore GST compensation will also be reduced as collections from the GST cess are not on expected lines, he said in his Budget speech. 

“It has become difficult to reach the 2019-20 Budget targets due to these reasons. To manage this situation within the bounds of the Karnataka Fiscal Responsibility Act, it has become inevitable this year to cut down the expenditure of many departments,” he said.

Under the 15th Finance Commission, Karnataka will see a reduction of Rs 11,215 crore in the state’s share of central taxes in 2020-21, Yediyurappa said. He also pointed out that expenditure on salaries, pensions and loan interest payments had risen by Rs 10,000 crore. “Serious difficulties are being faced in resource mobilisation efforts of the state. The state never faced economic difficulties of this magnitude in the previous years,” he said.

But in an attempt to please all, Yediyurappa made announcements across sectors and communities. Instead of the usual department-wise announcements, the CM chose to divide the Budget into six sectors: agriculture & allied activities; welfare & inclusive growth; stimulating economic growth; Bengaluru development; culture, heritage & natural resources and administrative reforms & public service delivery.

Farmers will get additional incentives under PM-KISAN costing Rs 2,600 crore and a waiver of interest on loans they have borrowed from cooperative banks worth Rs 466 crore.

The CM has earmarked Rs 500 crore to start work on the Kalasa-Banduri canals under the Mahadayi project. Also, Yediyurappa has given Rs 1,500 crore to commission the Yettinahole drinking water project.

This project will cater to the districts of Hassan, Chikkamagaluru, Tumakuru, Bengaluru Rural, Ramanagara, Chikkaballapur and Kolar.

For Bengaluru, the CM has made an allocation of Rs 8,772 crore. This includes Rs 500 crore for the suburban rail project, an electric bike taxi project and bus priority lanes.

Significantly, Yediyurappa has not made any allocation to mutts. However, the government will spend Rs 100 crore on the Anubhava Mantapa at Basavakalyan, Rs 66 crore for a 100 ft Kempegowda statue in Bengaluru and Rs 20 crore on a 325 ft statue of Basavanna at the Murugha Mutt in Chitradurga.

The CM has given Rs 305 crore for the development of various communities — Christians (Rs 200 crore), Upparas (Rs 10 crore), Vishwakarma (Rs 25 crore), Ambigara Chaudaiah (Rs 50 crore), Arya Vysya (Rs 10 crore) and Kumbara (Rs 10 crore).

Also, nearly 22.5 lakh government employees and their dependents will get cashless treatment facility for surgical treatment procedures at an estimated annual cost of Rs 50 crore under the Jyothi Sanjini scheme, the CM said.

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News Network
February 18,2020

New Delhi, Feb 18: India emerged as the world's fifth-largest economy by overtaking the UK and France in 2019, says a report.

A US-based think tank World Population Review in its report said that India is developing into an open-market economy from its previous autarkic policies.

"India's economy is the fifth-largest in the world with a GDP of $2.94 trillion, overtaking the UK and France in 2019 to take the fifth spot," it said.

The size of the UK economy is $2.83 trillion and that of France is $2.71 trillion.

The report further said that in purchasing power parity (PPP) terms, India's GDP (PPP) is $10.51 trillion, exceeding that of Japan and Germany. Due to India's high population, India's GDP per capita is $2,170 (for comparison, the US is $62,794).

India's real GDP growth, however, it said is expected to weaken for the third straight year from 7.5 per cent to 5 per cent.

The report observed that India's economic liberalisation began in the early 1990s and included industrial deregulation, reduced control on foreign trade and investment, and privatisation of state-owned enterprises.

"These measures have helped India accelerate economic growth," it said.

India's service sector is the fast-growing sector in the world accounting for 60 per cent of the economy and 28 per of employment, the report said, adding that manufacturing and agriculture are two other significant sectors of the economy.

The US-based World Population Review is an independent organisation without any political affiliations.

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