IT Dept prescribes hybrid formula for determining FMV of capital assets in slump sale

Budget 2021 amended the tax law on fair market value

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Kannada actor held for smuggling gold worth Rs 12 cr from Dubai

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Bengaluru : The arrest of Kannada film actor Ranya Rao, daughter of a senior IPS officer in Karnataka , has exposed a major gold smuggling operation in India. Investigations by the Directorate of Revenue Intelligence (DRI) revealed that the 31-year-old actress used an unusual method to evade security checks — she attached 14 gold bars to her thighs using adhesive, wrapped them with tape, and concealed them under a crepe bandage. Officials described her arrest as one of the biggest breakthroughs in recent gold smuggling cases. So far, authorities have seized 17.29 kg of gold and cash in the case. This includes 14.8 kg of gold worth Rs 12.56 crore recovered at the airport, Rs 2.06 crore worth of gold from her Bengaluru residence, and apart from that Rs 2.67 crore in cash. Ranya Rao was apprehended on Monday night upon her arrival at Kempegowda International Airport in Bengaluru on an Emirates flight from Dubai. The DRI, acting on prior intelligence, deployed a four-member team at t...
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Rahul Dravid’s car hit by goods-laden auto in Bengaluru, video goes viral

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Bengaluru: An incident of a goods-laden auto colliding with the former Indian cricketer Rahul Dravid’s SUV was reported from Bengaluru on Tuesday. A viral 11-second video shows Dravid arguing with the auto driver after the collision. The accident took place on Tuesday evening on Cunningham Road, a busy area in Bengaluru. Sources state that Dravid was travelling from Indian Express Junction towards High Grounds when the incident occurred. The auto driver allegedly rammed into his car from behind while it was stuck in traffic. The video shows Dravid stepping out of his car, inspecting the damage, and questioning the auto driver. The driver is seen explaining that the accident happened due to the sudden movement of a Fortuner car ahead of him. Indian cricketer Rahul Dravid's car & a commercial goods vehicle were involved in a minor accident on Cunningham road in #Bengaluru . And unlike the #cred ad, #RahulDravid & the goods vehicle driver engaged in a civilized argum...
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Congress groomed me not to sit at home: Shivakumar

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Bengaluru: Karnataka Deputy Chief Minister D.K. Shivakumar said on Wednesday that the party has groomed him since 1989 not to sit at home. Speaking to media in Bengaluru, Shivakumar, when asked if he has gone to Delhi to retain his position as the state president, Shivakumar said: “No. It’s bogus, all are planted stories. The party has made me the state’s president for five years. It gave me the Deputy Chief Minister post and has groomed me since 1989 by making me a minister then. Does the party want me to sit at home after empowering me?” Shivakumar said, adding that ‘no matter in which position I am, I will be there for the party.’ Also Read Gear up for 2028 assembly elections, DK Shivakumar calls upon Congress workers He further emphasised targeting his opponents within the party, “I have been called to Kerala, Tamil Nadu, Telangana, Assam, Bihar, Himachal Pradesh, Delhi, Assam, Andhra Pradesh states. Will they others?” When asked will Congress fight the next Karnataka ele...
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