RBI Governor Shaktikanta Das kept the red flag on cryptocurrencies flying, warning that the next financial crisis can be triggered by private cryptocurrencies if such speculative instruments are allowed to grow.
Nearly 100 foreign funds have been asked to cough up an estimated $5-6 bn.
A greater payment security mechanism for power generation companies to ensure timely payouts for supply of electricity will be in focus in 2022 as stricter rules are on the anvil for 24x7 power supply amid discoms' outstanding dues at a whopping Rs 1.56 lakh crore. Mounting outstanding dues of distribution companies (discoms) to electricity generation companies (gencos) have been a perennial issue affecting the entire value chain in the power sector and are also a hindrance for the ambitious goal of 24x7 power supply across the country even when the payment for coal is made in advance. The situation persists despite the fact that discoms' dues become overdue after 45 days of generating bills and they also have to pay penal interest on the overdue amount in most of the cases to gencos.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your personal income tax queries.
The revenue department had sent notices to FIIs.
The RBI's mistake may have been in interpreting its mandate to maintain retail inflation at 4%, with 2% leeway in either direction, as being a mandate that permitted it to do nothing even when inflation was at or near the upper bound of 6%, observes T N Ninan.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The focus will be on tackling the unfinished agenda requiring immediate attention like tax structure for solar projects, uniform tax rate on state-organised and state-authorised lotteries, taxing non-potable alcohol besides certain changes in the law, extension for NAA and rate rationalisation.
'The correction could take two to three months and traders need to be careful.' 'For investors, this could be a good time to nibble in.'
'You can walk wearing the hijab on the street, but not in a school.'
I got to know that every referred case for angiography and angioplasty got a kickback of Rs 5,000 and Rs 15,000 respectively. Seeing this trend, doctors started paying referring doctors Rs 1 lakh in advance and adjusting it as and when patients came in. This menace slowly spread its tentacles all over the medical field, including radiological diagnostics and biochemistry laboratories. For every test ordered, 20 per cent of the bill was given back to the referring doctor. This led to doctors recommending unnecessary tests. The pharmaceutical companies also saw burgeoning business. Acclaimed doctors were given televisions sets, refrigerators, air conditioners and cars depending upon the prescriptions. General practitioners would prescribe unnecessary drugs, and were given returns in cash. A fascinating excerpt from Dr Upendra Kaul's When The Heart Speaks.
The DMK feels its genuine gestures have had no bearing on the governor's politico-administrative conduct, which is 'more political and politicised than administrative and Constitutional', observes N Sathiya Moorthy.
A robust dispute settlement system would help the government unlock tax revenues, and also aid ease of doing business.
The Centre has imposed a ban on the Popular Front of India (PFI) and several of its associates for their alleged terror activities.
The commission has also enhanced the limit of people allowed for door-to-door campaign.
'The markets haven't corrected, that doesn't mean that they will only go up and up.'
How should one billion Indians, for whom deprivation has become an inescapable way of life, join us in celebrating 75 years of Independence? And where do we go from here? asks Kalyan Singhal.
All of India welcomes the Light Combat Helicopter into the Armed Forces arsenal and wishes it a safe tenure and happy shooting. May it rule the skies and ensure that the enemies are given a fitting reply when the need arises.
'Jockeying for that position has possibly started at this time.'
Without periodic booster shots to display of strength, how is this government what it aims to be? There was also the landscape of prosperity pictured; the in-season affair with 'amrit' stretched to a longer residence in 'Amrit Kaal', notes Shyam G Menon.
'Pfizer India has submitted an application on December 4 to the DCGI seeking emergency use authorization for its COVID-19 vaccine in India'
China on Friday said that any successor to the present Dalai Lama should be approved by it, ruling out recognition to any heir nominated by him or by his followers.
The message for 2024 is that the man on the street is not going to be euphoric if the G-20 crowns Modi as king-emperor for 2023, or if India sends its first man to space just ahead of the Lok Sabha polls. Even a 'temple consecration' in Ayodhya, or a Uniform Civil Code, or both of them together, may not have enough electoral purchase if fuel and commodity prices are not rolled back, and money-in-the-pocket does not fatten, points out N Sathiya Moorthy.
With audits and greater emphasis on anti-evasion measures, more tax demands will lead to more litigation. So, it is a bit early to start celebrating. GST is still work in progress.
While most universities and colleges are genuine about what they offer, applicants need to verify the claims to check for authenticity and red flags if any, alerts Piyush Kumar, regional director, (South Asia), IDP Education, an overseas education consultancy.
As per the revised return filing timeline decided by the Council, for July, the sale returns will have to be filed by September 5 instead of August 10. Companies will have to file sale invoice for August with the GST Network by September 20 instead of September 10 earlier.
According to an official statement, the FDA has determined that the Moderna COVID-19 vaccine has met the statutory criteria for issuance of an emergency use authorisation (EUA).
The protests brought home the fact that the Sri Lankan public is in no mood for halfway measures, as voices against Rajapaksa 'family rule' and 'securitisation' of the civilian administration began sidestepping the more critical economic crisis, affecting the nation and afflicting the individual, observes Sri Lanka watcher N Sathiya Moorthy.
'We've never really been in the situation of having a difficult time with the Chinese and an increasingly difficult time with the Russians along with a relationship with the Americans which is important.'
In an application filed in the apex court, the Kerala government has also sought a direction to the Tamil Nadu government to control the water level by releasing water from the dam throughout the day instead of releasing a huge quantity of water at the wee hours without giving sufficient warning time.
Hemant Shivsaran lists the number of projects the Modi government has announced since August to woo Gujarat voters.
If advance tax revenue fails to meet the expected growth, these PSUs could be asked to pay taxes on past demands raised against them.
Officers sitting over untapped potential to make COVID-19 vaccines need to be charged with 'manslaughter' as it is leading to so many deaths, the Delhi high court said on Wednesday, observing that a lot of scope and infrastructure is available in India which is not being used.
The mobile phone manufacturers are planning to plead with the government that the new rules suggested by the DoT could leave them with no option but to stop introducing new phone models in the country if the stringent rules are eventually approved.
Billionaire Mukesh Ambani on Friday backed the proposed data privacy and cryptocurrency bills, saying India is putting in place the most forward-looking policies and regulations. Ambani, who has been a votary of Indians owning and controlling their own data and the nation drafting strict rules around how digital information is stored and shared, said nations have the right to build and protect strategic digital infrastructure. Stating that data is the 'new oil', he said every citizen's right to privacy has to be safeguarded. "India is putting in place the most forward-looking policies and regulations," he said at the Infinity Forum, hosted by International Financial Services Centres Authority (IFSCA).
The GST Council on Saturday is expected to extend the date for IGST exemption and cess on imports
Once again, tax demands on foreign investors cause worry.
Abramovich handed Chelsea director control of firm on day of Ukraine invasion - filings
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