In the start-up world, hitting the $1-billion mark, which accords the "Unicorn" tag, is a milestone. Enterprises typically reach the milestone only by series C or series D, or three to four funding rounds later. Zeta achieved it at the first one. On May 25, the six-year-old banking tech firm raised $250 million from Japanese conglomerate SoftBank, at a post-money valuation of $1.45 billion. "This is the first time we have raised institutional money," Zeta co-founder Bhavin Turakhia beamed on the conference call. This trajectory is uncommon in start-ups.
The I-T department issued a circular allowing manual filing of Form 15CA/15CB (required for foreign remittances) with banks till June 30, so that business transactions may go on. The forms will be uploaded online on the e-filing portal later, it added.
According to official sources, the number reflects pick up in consumption and improvement in compliance as well.
Pulse oximeters, hand sanitisers, temperature check equipment and ambulances too will attract lower 5 per cent tax.
India's dependence on imported crude oil to meet domestic demand has been a matter of concern for years. Delivering the inaugural address at the global energy summit - Urja Sangam - in 2015, Prime Minister Narendra Modi had called for enhancing domestic oil and gas production to cut the import burden. He aimed at lowering it by at least 10 per cent by 2022 - to coincide with the platinum jubilee of India's independence. But this target is far from being achieved and the country's import reliance has only risen.
A swift recovery in oil demand in India is not only helping the stability of the global market, it is giving huge fiscal headroom to the government in terms of additional excise duty.
Mop up grows 10% y-o-y at Rs 1.05 trillion, almost equal to levels in February before a nationwide lockdown to contain the coronavirus pandemic
Most of India knows Deep Sidhu as the man who planted the Sikh religious flag on Red Fort.
India's factory output climbed 22.4 per cent in March, benefiting from the base effect of the lockdown-marred month a year back as well as a turnaround in the manufacturing sector, while retail inflation slipped to a three-month low of 4.29 per cent in April. The high positive annual growth in the index of industrial production (IIP) in March 2021 came on back of a contraction of (-)0.9 per cent and (-)3.4 per cent in January and February 2021 respectively, according to the data released by the National Statistical Office (NSO) on Wednesday. This turnaround was led by recovery in the mining, manufacturing and electricity sectors.
'With the Bundesliga as the only league to be broadcast on TV, I expect we will have an audience of a billion'
According to the survey by Deloitte India and National Human Resource Development, 35 per cent of Indian businesses are expecting a strong growth this year while another 45 per cent feel that it would be moderate.
The bulk of states' revenue comes from the devolution from the Centre's divisible tax pool, GST, VAT on petroleum, and excise duty on alcohol.
The Indian manufacturing sector has registered gross profits and sales growth rates amounting to double the figures of global manufacturers, according to a Global Benchmark Study by Deloitte.
The US launched an investigation, focusing on whether the tax in India and other countries discriminated against American companies, were retroactive, and reflected unreasonable tax policy.
A lot of work is needed to be done on the part of the insurance sector behemoth, and the government, before it is ready for its market debut.
India needs about 19 million low-cost homes -- roughly defined as costing a million rupees ($16,700) and below -- to shelter an urban population expected to nearly double to 600 million by 2030 from 2011.
Spain's Real Madrid retained the title of the world's richest football club in the past year thanks to sponsorship and TV deals robust enough to endure a season without a major trophy, a study showed on Thursday.
Other measures being considered include relatively stringent KYC norms and a separate standard operating procedure for approval, renewal, and fresh investment from India's neighbouring countries.
The government of Gujarat has been projecting its industrial growth as a model for other states but it does not appear so industry-friendly in the number of labour laws one needs to comply with, shows a survey.
Goa, Kerala, Maldives and Dubai are among the popular destinations.
The ruling mean FPIs cannot seek treaty protection against the new withholding tax that companies are required to deduct at source. The apex court order pertains to when the cricketing bodies of Pakistan, India, and Sri Lanka formed a joint committee to conduct the 1996 Cricket World Cup.
Nearly $120 bn will come from private sector
Experts warn of over-interpreting the numbers and said their sustainability needed to be watched beyond November, says Indivjal Dhasmana.
While the Union Cabinet had in November last year approved the sale of the government's entire 52.98 per cent stake in BPCL, offers seeking expression of interest (EoI), or bids showing interest in buying its stake, were invited only on March 7. The EoI submission deadline was May 2, but on March 31 it was extended up to June 13. On Wednesday, the government said this deadline is further being extended up to July 31.
The mop-up could have been much higher, but tax on imports fell 2 per cent y-o-y.
The government is keen to close the sale before March 31, 2021, to help meet a record Rs 2.1 lakh crore target which Finance Minister Nirmala Sitharaman has set from divestment proceeds in the Budget for 2020-21.
The central bank's tough new rules spell major changes in the competitive landscape for financial services audits.
It can be noted that ever since Satyam Computers scandal came out in January 2009, the audit world, especially the Big Four, have been under fire from the regulators.
Punjab National Bank is planning to open a subsidiary in the United Kingdom in a bid to make its presence felt in the international arena.
According to the report by WEF and Deloitte Touche Tohmatsu, the manufacturing sector not only adds value to the overall economic growth but also helps in creating more jobs than any other sector.
An analysis of S&P BSE 500 companies suggests that promoters of Indian private-sector companies in particular could end up paying at least 20 per cent more as additional tax on the same dividend income.
The average variable pay across sectors is projected at 17.4%.
Most of the hirings are, however, in the entry or junior level.
They, however, remain cautious in resuming aggressive capital spending.
Sitharaman further said that to mitigate genuine difficulties of start-ups and their investors, government has decided to withdraw angel tax provisions for them.
The footprints of Indian-origin corporate executives at multinationals is expanding, with Sandeep Kataria taking over the reins of footwear major Bata as its global chief executive officer. From FMCG majors to IT titans, Kataria joins the league of Indian-origin executives who have climbed the highest echelons of corporate across diverse sectors globally. From Nooyi to Pichai to Nadella, the list of such people at the helm of multi-billion dollar enterprises is long.
Internet giant Google is the most attractive employer for graduates from the Asia-Pacific region in a list of top companies which figures no Indian firm.
The new definition under the Code of Wages, 2019, includes three components: basic pay, dearness allowance and retention payment.
'We know that returning money to unitholders at the earliest is the first and most important step towards resurrecting our brand and regaining investor trust.'
