The Income Tax Department detected undisclosed income of ₹ 75 crore after raiding three different real estate business groups based in Andhra Pradesh and Telangana, the CBDT said on Tuesday. The searches were carried out on November 10 at 30 premises in Vishakhapatnam, Hyderabad, Vizianagaram and Srikakulam. “The search operation has resulted in the detection of undisclosed income to the tune of Read More

  New Delhi: The Income Tax Department has detected about Rs 470 crore TDS (tax deducted at source) default by some big Delhi-based corporate houses after surveys were conducted against them recently, officials said. The department’s TDS wing in Delhi has launched a special monitoring of private companies and government organisations in order to ensure that due taxes are deducted under this direct taxes Read More

Builders who failed to comply with an Uttar Pradesh Real Estate Regulatory Authority (UP RERA) order to handover possession of units may now have to cough up a cumulative Rs 200 crore as penalty. Presently, more than 15 developers, the Ghaziabad Development Authority and Greater Noida Industrial Development Authority have been issued notices for the non-compliance. UP RERA identified 397 such projects in Ghaziabad, Read More

Picture used for representational purpose only THANE: The Raymond group has announced its foray into the real estate sector and launched its debut project, a residential complex spread over 14 acres of its vast industrial land at Pokhran in Thane on Wednesday. Gautam Singhania, chairman and managing director of Raymond Ltd, said the project will house 3,000 residential units across 10 towers of Read More

Bengaluru: Axis Asset Management Company (AMC), a unit of Axis Bank, has concluded raising its maiden real estate fund — Axis RERA Opportunities Fund-I — with commitments of over₹400 crore, the company said on Tuesday. Investors include domestic institutions, high networth individuals and the sponsor, Axis AMC. The fund is targeting investments through the structured debt route in top eight cities, Read More

Bengaluru: Century Real Estate Holdings is in talks with Piramal Ivanhoe Residential Equity Fund to raise funds for an upcoming residential project in a deal valued at ₹250 crore. The Bengaluru-headquartered developer plans to build a high-end residential project on a 10-acre land parcel it owns in the central business district in the city. “The deal is likely to be a structured Read More

In India, Merck’s consumer health business is one of the largest in supplying vitamins, minerals and supplements, with products such as Neurobion, Polybion and Evion. Photo: Bloomberg Mint brings to you your daily dose of top deals reported by newsrooms across the country. NCLT puts ArcelorMittal, Numetal back in the race for Essar Steel The fight for control of bankrupt Essar Read More

Mokshesh Sheth managed his family business for two years after becoming a chartered accountant. AHMEDABAD:  A 24-year-old chartered accountant belonging to an affluent Jain family has embraced monkhood today. In the process, he has given up on his career and a family business worth over Rs. 100 crores. Mokshesh Sheth managed his family business for two years after becoming a chartered accountant (CA). Read More

In 2016-17, Oberoi Realty generated a revenue of Rs320 crore from its leased commercial assets, accounting for about 27% of its overall revenue. Mumbai: Oberoi Realty Ltd expects to generate rental revenue of around Rs1,000 crore in the next three years from its existing and upcoming commercial portfolio, a top executive said. The company, India’s second largest builder by market Read More

Real Life Phunsukh Wangdu Of 3 Idiots Seeks Rs. 14 Cr Funding For University Plan NEW DELHI: Innovator and educationist Sonam Wangchuk, the real life Phunsukh Wangdu of Aamir Khan-starrer ‘3 Idiots’, aims to set up a skill-based university at a cost of Rs. 800 crore in Ladakh region of Jammu and Kashmir. After setting up SECMOL, a non-traditional school Read More