Since the new proposed TDS rules doesn’t provide any exception to cases where the person is not eligible to file ITR (case in point super senior citizen), it may be possible that banks may deduct higher TDS from the interest income from them.
BFSI sector could have waited for a few more months to offer shares at better prices
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BFSI sector could have waited for a few more months to offer shares at better pricesBy
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The present banking system needs to be supplemented with DFIs that will bring in pools of long-term capital as compared to NBFCs and smaller banks which have higher cost of capital, said Rakesh Singh, Group Head, Investment Banking at HDFC Bank
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The government has made all the right moves with the budget. For infrastructure funding the government may have to sweeten the DFI with tax free bonds, said Rakesh Singh, Group Head, Investment Banking at
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Promoters of Dewan Housing Finance Corporation Ltd (DHFL) had opened a fictitious branch in Bandra which boasted of over two lakh dummy homebuyers and had been created to siphon off Rs 12,000 crore, according to information obtained by the Enforcement Directorate from DHFL senior executives.
CMD Kapil Wadhawan also had a customised FOXPRO software, in which when they entered a disbursed loan amount, it would create thousands of bogus homebuyers with fake details to adjust the amount against their names.
(This story originally appeared in on Feb 16, 2021)MUMBAI: Promoters of Dewan Housing Finance Corporation Ltd (DHFL) had opened a fictitious branch in Bandra which boasted of over two lakh dummy homebuyers and had been created to siphon off Rs 12,000 crore, according to information obtained by the Enforcement Directorate from
The present banking system needs to be supplemented with DFIs that will bring in pools of long-term capital as compared to NBFCs and smaller banks which have higher cost of capital, said Rakesh Singh, Group Head, Investment Banking at HDFC Bank
MUMBAI: Promoters of Dewan Housing Finance Corporation Ltd (DHFL) had opened a fictitious branch in Bandra which boasted of over two lakh dummy homebuyers and had been created to siphon off Rs 12,000 crore, according to information obtained by the Enforcement Directorate from DHFL senior executives.
The promoters diverted the money to around 80 shell construction companies after showing it as loans against the name of homebuyers under the subvention scheme. Under this scheme, the buyer pays the initial amount, and the bank pays the loan amount to the developer as the construction progresses, while the interest portion on the loan disbursed is paid by the developer. Buyers don’t have to pay interest on home loan till the property remains under construction or for the period agreed on.