He is the first Indian-origin person to head a 'Big-Four' audit co.
DDT is levied on dividends that a company pays its shareholders out of its profits. It is currently charged at the rate of 20.55 per cent, including a surcharge and education cess. Government may instead tax the shareholders receiving dividends, in a bid to help improve investor sentiment by addressing the multiplicity of taxes and bring down the effective tax rates for companies.
According to industry insiders, India has 400 million smartphones and is the world's fastest-growing app market. So the addition or deletion of apps impacts the global valuations of these platforms. "Based on calls given by various local organisations to delete Chinese Apps, there will be an impact," said Blaise Fernandes, director at foreign policy think tank Gateway House. "All of them eventually will go the IPO (initial public offering) route so there would be economic impact also."
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
Franklin Templeton Mutual Fund, which has closed six debt schemes, has said the winding-up process will be delayed in the absence of authorisation from investors and further steps will be possible only after seeking fresh approval from them. It further said that investors who do not have an e-mail ID or mobile number registered with the fund house will not be able to participate in the voting process. The date on which the voting would start has not been disclosed yet.
Some international markets offer interest rates as low as one per cent, which could reduce the government's interest cost significantly.
Kaushik Khona's second innings at GoAir will be more challenging than the first. Globally, the aviation industry is in deep distress because of the pandemic, reports Aneesh Phadnis.
Individuals and entities, whose accounts are not required to be audited, were mandated to file I-T returns by July 31.
On the volume side, the number of M&A and PE deals was 110 in July, 15 per cent lower from 130 in July 2018.
This is the second investment by General Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.
The government on Saturday made its prior approval mandatory for foreign investments from countries that share land border with India to curb 'opportunistic takeovers' of domestic firms following the COVID-19 pandemic, a move which will restrict Foreign Direct Investment from China.
The ministry said it was an anti-abuse provision amid growing instances of NRIs shifting their stay in low or no-tax jurisdiction to avoid tax payment in India.
The Vivaad se Vishwas scheme is a replica of the Sabka Vishwas (Legacy Dispute Regulation) Scheme, 2019 (SVLDRS) for indirect tax litigation. The hope is that this would unlock revenue blocked in long-drawn litigation at various forums. Sources in the department say the total value at stake in these disputes would be Rs 5-6 trillion.
"The Corporation has decided to offer a voluntary retirement scheme, with a view to enable employees who are not in a position to continue in service of the Corporation due to various personal reasons, to request for grant of voluntary retirement from the services of the Corporation," Bharat Petroleum Corp Ltd (BPCL) said in an internal notice to its employees.
The US Trade Representative's (USTR) office will also conduct the Section 301 probe against nine others, including Austria, Brazil, Indonesia, Italy, Spain, Turkey, the Czech Republic, the UK, and the EU, for levying or considering digital services taxes "discriminating against US companies".
Knight Frank LLP, an international property consultancy, recently conducted a study on how many years worth of earning would it take for an average citizen to buy a 100-square-metre luxury or a high-end apartment in the world's most important cities. These numbers are according to an analysis of real estate and wages.
India may adopt norms similar to the US Federal Reserve model, which regulates conglomerate-led banks in the country.
In the US, VW faced penalties of up to $18 billion.
Mallya now has 14 days from February 4 to apply for leave to appeal to the UK high court.
DHFL has been generating funds through various means and has exited from its subsidiary units to tide over the current financial crunch.
US President Barack Obama has nominated Indian-American lawyer and telecom policy expert Ajit Varadaraj Pai, who belongs to Republican party, as Commissioner of the Federal Communications Commission (FCC), the country's premier regulatory body.
Much of this has been made possible by the owners's insistence on building a team, rather than banking on a collection of talented individuals not necessarily suited to play alongside one another.
The UK on Tuesday appointed veteran career diplomat Sir Dominic Asquith as its new High Commissioner to India.
United States President Barack Obama has nominated Indian-American Ajit Varadaraj Pai as commissioner, federal communications commission, the White House said.
Also, a dedicated cell, headed by a member of the Central Board for Direct Taxes (CBDT), will be set up to address concerns faced by start-ups.
The US district court of Northern California on Monday allowed two former employees of I-T giant Tata Consultancy Services Ltd to proceed with a class action lawsuit against their former company over wage dispute and breach of contract.
In an offline chat, mind/life coach, NLP trainer and Mental Health Guru Anu Krishna encourages Rediff.com readers to talk about their problems and offers solutions.
Reliance Industries on Friday announced the sale of 2.32 per cent stake in its digital unit to US-based Vista Equity Partners for Rs 11,367 crore, the third deal in a little over two weeks that will inject a combined Rs 60,596.37 crore in the oil-to-telecom conglomerate to help it pare debt. The US-based private equity firm will buy a stake in Jio Platforms, which houses the country's youngest but biggest telecom firm Jio, at an equity value of Rs 4.91 crore and an enterprise value of Rs 5.16 crore.
They have been on an unbroken selling streak since the Union Budget, spooked by increase in income-tax surcharge, taxes on buybacks, and lack of stimulus to prop up the economy.
She will replace US Supreme Court Judge Justice Brett Kavanaugh who was nominated by President Donald Trump for the top post.
The revenue collection in the same month a year ago stood at Rs 94,442 crore.
The scheme offers waiver of interest, penalty, and prosecution for settling tax disputes.
Rahul 'Richard' Verma has become the second high-ranking Indian-American official in the Obama administration to resign and return to the private sector.
Sales of four- and two-wheelers almost halved in August, compared to the equivalent month last year.
Venture capital investments grew at a rapid pace across the US in the April-June quarter of 2011, surging by 19 per cent to $7.5 billion, says a new report.
Tech sectors, including start-ups and IT & ITeS, witnessed the highest consolidation, capturing over 40 per cent of volumes
'There are a lot of companies that have been struggling really hard expecting to do better year after year.' 'All these people will think now, "Let me not fight any more. Let me end this".'
Usually, the Income Tax Department notifies the ITR forms in the first week of April of the relevant assessment year. However, in contrast to the old practice, it has notified two ITR forms ITR-1 and ITR-4 for the assessment year 2020-21 in the first week of January.
She will replace controversial Brett Kavanaugh who endured a bitter confirmation battle last year after President Donald Trump named him to the US Supreme Court.
Realty major DLF's promoter Pia Singh on Tuesday picked up more than 1 crore shares of the company for Rs 194 crore from another promoter entity.
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