IMAGES from the EPL matches played on Saturday
India's exports may have touched an all-time high of $422 billion in 2021-22 but recession in key western markets and geo-political crisis due to the Russia-Ukraine war are expected to impact the growth of the country's outbound shipments in 2023. All the global trade promoting factors like political stability, movement of goods, adequate availability of containers and shipping lines, demand, stable currency and smooth banking systems are in disarray. Adding to the woes, COVID cases have again started rising in countries like China, Japan, South Korea and the US.
Tax consultants and chartered accountants have started receiving a flurry of calls from their clients - both corporate and individuals - seeking clarity over changes in the reassessment regime made during the recently concluded Budget Session of Parliament. Tax experts apprehend the amendments may lead to the income-tax (I-T) department sending out more notices. The new provisions, effective from April 1, have extended the scope for tax sleuths to reopen the past assessments.
The government has notified mandatory requirement of e-invoicing for B2B transactions for businesses with a turnover over Rs 100 crore with effect from January 1, 2021. Under Goods and Services Tax (GST) law, e-invoicing for business-to-business (B2B) transactions is mandatory for companies with turnover of over Rs 500 crore from October 1. In a notification, the Central Board of Indirect Taxes and Customs (CBIC) said e-invoicing will be extended to businesses with a turnover over Rs 100 crore from January 1.
Union Finance Minister Nirmala Sitharaman on Tuesday announced that income from digital asset transfers will be taxed at a rate of 30 per cent. This move is seen as 'crypto tax'.
Using this sequence data, the researchers traced the origins and evolution of SARS-CoV-2 by focusing on the tell-tale features of the virus.
The Central Board of Direct Taxes (CBDT) has extended various tax returns filing deadlines till December 31 this year but it will continue to levy interest on delayed payments made after July 31, the original due date. Officials say tax payment has to be done through net banking, and the assessee doesn't need to use the e-filing portal, which has been facing glitches. So, taxpayers have to bear the interest payment liability of 1 per cent per month on the outstanding tax for those who filed a return after July 31.
"The new sarsanghchalak, Mohan Bhagwat, is perhaps the most politically inclined head of the RSS since its founder Keshav Baliran Hedgewar some eight decades ago," says American expert Dr Walter Andersen.
The simplified form will comprise details of taxpayers' mutual fund transactions, pending and completed income tax proceedings, status of income tax demand, besides tax deducted at source and tax collected at source. Form 26AS is an annual tax credit statement containing details of various taxes deducted on income.
IT services major Wipro on Friday said it has appointed Capgemini group veteran Thierry Delaporte as its chief executive officer and managing director, effective July 6, 2020. In January this year, the company had said its CEO and Managing Director Abidali Z Neemuchwala had decided to step down from the company. Abidali Neemuchwala will relinquish his position as CEO and MD on June 1.
A round-up of Friday's action in the UEFA Nations League.
Chelsea have topped the spending list with Manchester United not far behind, but West Ham United's business epitomises the TV riches which give all Premier League clubs spending power that only the elite teams in Spain or Germany can dream of.
The autopsy, which was based on blood and urine samples and released by the Buenos Aires Scientific Police, said Maradona had problems with his kidneys, heart and lungs.
In a move to plug gaps in the Insolvency and Bankruptcy Code (IBC), the ministry of corporate affairs (MCA) has proposed robust norms against avoidance transactions, wrongful trading, and inordinate delays via changes to look-back period and fixed timelines for the tribunals to reject or approve plans, among other measures. The MCA has proposed that the IBC should provide the adjudicating authority with 30 days for approving or rejecting a resolution plan under Section 31. If a decision is not made on the resolution plan within that period, the adjudicating authority will record reasons in writing for the same, the ministry has proposed.
Denver Nuggets' Chris Andersen (left) kicks the ball from Delonte West (right) of Dallas Mavericks during their NBA Basketball game in Denver, Colorado.
The apex court has settled the long-pending dispute between companies such as Samsung, IBM, HP & others and the tax department.
'Wearing masks, washing our hands, all those things are barriers to transmissibility, or contagion, but as the virus becomes more contagious it statistically is better at getting around those barriers'
The Danish FA announced that Eriksen would have an ICD fitted.
The expulsion, which would have to be approved by the World Athletics Congress, would lead to Russian athletes being sidelined from international competitions, including those who had previously been authorised to compete as neutrals.
Russia will miss the World Athletics Championships for the second time in a row after the sport's governing body the IAAF extended the ban against country's federation.
The Norwegian Nobel Committee said it had awarded them the prize for their efforts to end the use of sexual violence as a weapon of war.
Alternative Investment Fund refers to any fund established or incorporated in India which is a privately pooled investment vehicle that collects funds from sophisticated investors, whether Indian or foreign.
With tensions between China and Taiwan rapidly increasing, the tone of China's official media has also become progressively more strident, observes former senior RA&W officer and China expert Jayadeva Ranade.
Summary of sports events and persons who made news on Sunday
A series of steps taken by the government to promote ease of doing business and liberalisation of foreign direct investment norms have helped India receive record FDI inflows so far this year, and implementation of measures like PM Gati Shakti, single window clearance and GIS-mapped land bank are expected to further push investments in 2022. Notwithstanding the global slowdown and the COVID-19 pandemic, total foreign direct investments into India rose to a record $81.72 billion in 2020-21. During April-July this fiscal, FDI (foreign direct investment) into the country increased by 62 per cent to $27.37 billion.
A round-up of the action in the English Premier League on Monday.
Last year's Budget had created uncertainty about the quantum of tax to be withheld on dividends paid to non-residents, as the exact tax rate was not specified under section 195.
Russia still has a shot to compete in the athletics competition at the 2016 Olympics if they can prove they are drug free, the head of a probe into the country's doping scandal said on Tuesday.
The income tax department on Tuesday said its new utility developed to help TDS deductors and TCS collectors identify non-filers or "specified persons" on whom higher rate of taxes will be levied will help ease compliance burden. From July 1, non-filers of income tax returns for the past two fiscal years would be subjected to higher tax deducted at source (TDS) and tax collected at source (TCS) rate if such tax deduction was Rs 50,000 or more in each of those two years. The provision was introduced in the 2021 Budget. The TDS deductors and TCS collectors would be required to check on the functionality of the PAN of the vendor from whom TDS is to be deducted or TCS to be collected, only at the beginning of the financial year.
Sources said about hundreds of companies, including Facebook and Amazon, could seek tax refund because they import software for sale in India.
With Goods and Services Tax (GST) officers under pressure to exceed the Rs 1-trillion collection mark per month, industry has faced a barrage of recovery notices and summons issued over the last one month across sectors, according to company executives. Industry bodies have claimed harassment by field officers, blocking of input tax credit, cancellation of GST registration, threats of arrest and steep penalties, impacting their working capital and operations. Company executives pointed at an atmosphere of apprehension and fear due to such notices and summons.
Arsenal turned around its recent poor form to beat Leicester 3-1 on Sunday
As per the Budget proposals, migration of a fund to a fund in IFSC will not be regarded as transfer if done on or before March 31, 2023. Transfer of units will be tax neutral. Grandfathered investments of the fund to continue to enjoy capital gains exemption on future sale by the IFSC fund. There is no impact on carry forward of losses for the investee company.
The Indiana Pacers beat the Miami Heat 91-77 on Saturday to force a decisive game seven in the National Basketball Association's (NBA) Eastern Conference finals.
'In the likelihood that Omicron is circulating, you have a much greater chance of getting infected now, than you did during the Age of Delta.'
Friends and colleagues pay rich tributes to the "charming, approachable, and very accessible" Indian Constitution scholar Granville 'Red' Austin.
India conceding ground to bring only top 100 digital companies like Google, Facebook, and Netflix into the global taxation pact may have revenue implications. This will mean that New Delhi will have to withdraw the contentious 2 per cent equalisation levy on e-commerce operators by 2023. This may have revenue implications for India, experts pointed out, as the equalisation levy has a much lower annual revenue threshold of Rs 2 crore (euro 0.2 million) as against euro 20 billion agreed by 130 countries at the Organization for Economic Cooperation and Development (OECD). India, along with other developing countries, was pitching for at least euro 1 billion threshold to cover at least 5,000 global entities. India collected Rs 2,057 crore from the equalisation levy in 2020-21, an 85 per cent growth over Rs 1,136 crore in the previous fiscal.
Among the favourites for Euro 2012 and boasting two of the hottest forwards on the continent, Netherlands produced a shocking display of finishing in their 1-0 defeat by Denmark on Friday that could cost them dear.
Cristiano Ronaldo, Gareth Bale and Karim Benzema took Real Betis apart to give Real Madrid a resounding 5-0 win on Saturday that put them level on 50 points with Barcelona and Atletico Madrid at the top of La Liga.
