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A Flip by Shubhangi Gupta
Four Kirloskar companies on Saturday said they have filed an appeal before the Securities Appellate Tribunal challenging the SEBI letter asking them to disclose the deed of family settlement that was signed by members of the Kirloskar family on September 11, 2009.In a joint statement, the Kirloskar companies — Kirloskar Ferrous Industries Ltd (KFIL), Kirloskar Industries Ltd (KIL).
Open Flip
The state govt has decided to lift the ban on 22A lands for the benefit of the poor. It has instructed district collectors to submit a report within three days detailing how many lands are under 22A in each district and under which categories. The govt has also decided to restart the resurvey of lands.Revenue minister Anagani Satya Prasad said.
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The section 87A tax rebate issue is of special interest and debate among taxpayers. The issue became so contentious that multiple court cases were filed against the tax department’s decision to deny eligible taxpayers the benefit of 87A tax rebate. The tax department seems to have taken a stance that if special rate incomes like short term capital gains income exists in the ITR.
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