Several start-ups have raised concerns over taxation of angel funds under Section 56 of the Income Tax Act, which provides for taxation of funds received by an entity.
Tata Group-owned Air India has informed the Centre that aircraft lessors wish to set up their special purpose vehicles (SPVs) outside India since they aren't enthused about the Indian 'legal structure' and are loath to take risks. Indian airlines have a combined fleet of about 700 planes; over 85 per cent are on lease. A majority of lessors are based in Ireland due to its attractive tax policy, light-touch regulations, and swift legal system.
The chances of the posts opening remain slim, with security agencies recently identifying 10 suspects who smuggled in weapons, narcotics and fake currency.
'The world over, everybody is asking for the same medicines, same APIs, same KSMs.' 'However, there is just one supplier -- China -- for the entire world.'
Having almost closed the last contours of the limited trade deal and with the announcement of a much larger trade deal in the offing, we have moved to a new level of engagement: Goyal.
Agriculture, social services, education, defence and so on will be brought into the digital fold and every gram panchayat will be connected to the internet.
"We now realise that the so-called farmer agitation hardly remains a farmers' agitation. It has almost got infiltrated by Leftist and Maoist elements, a flavour of which we saw over the last two days when there were extraneous demands to release people who have been put behind bars for anti-national (and) who have been put behind bars for illegal activities," Goyal, the Minister for Railways, Commerce and Industry and Food and Consumers Affairs, said at FICCI's annual meeting.
Growth was primarily pushed by a jump in steel and electricity generation, apart from a sustained rise in natural gas output.
A meeting of the Board of Trade, an advisory body to the Commerce Ministry, is likely to be held on October 11, a ministry official said.
Two entities under the Union ministry of commerce report differing figures for import of cut and polished diamonds for the first eight months of the financial year.
Far more important than governance is to ensure how different states get necessary representation a'The pressure to expand the council of ministers will come from states where the BJP has formed a government after ousting the Congress,' predicts A K Bhattacharya.
The only fuel that showed growth was LPG as the government dole of free cooking gas cylinders to poor households fired up consumption by 21 per cent during April 1 to 15.
Argentina has assured India that it will resolve the issue of restrictions on import of Indian drugs to the Latin American country.
Recently, the finance ministry waived off basic customs duty and health cess on imported oxygen and related equipment for three years.
Batting for the worried SEZ developers who fear withdrawal of incentives in the new direct tax code, Commerce and Industry Minister Anand Sharma on Friday said his ministry would ensure that the sops continue.
Cabinet nod not required after commerce ministry approval.
Koo, which works on similar lines as Twitter, was born with a focus on regional language, unlike Twitter and Facebook, which are very popular but primarily cater to an English-speaking audience, reports Neha Alawadhi.
The Ministry of Commerce and Industry on Thursday issued a discussion paper to achieve merchandise exports worth $450 billion in the next three years through greater market diversification, research and development and a thrust towards brand promotion.
Union Commerce and Industry Minister Anand Sharma has protested, on behalf of the corporate sector, against the Union environment and forests ministry's 'unreasonable environment regulations' being clamped on the industrial projects.
The immediate trigger is the environment ministry's latest policy of asking corporates to mandatorily commit five per cent of project investments in environment protection measures.
DIPP's proposal is believed to have the support of the ministry of consumer affairs, food and public distribution and was originally mooted by the Forward Markets Commission.
The payments industry is at a crossroads with the banking regulator on two pressing issues, neither of which seems headed towards an amicable solution. Depending upon which side accommodates the other, customers in India will have to choose between convenience and ironclad safety. In the end, the Reserve Bank of India (RBI), which regulates both banks and all payments services providers, will prevail. But the question is: will it do so by bending a little or by sticking to its firm stand? The two issues - one concerning payment facilitators storing customers' card details and the other about auto-renewal of payments - appear similar but aren't.
India has announced suspension of all tourist visas till April 15 in a bid to contain the spread of the virus.
'The idea is to have a separate and independent consultation on non-personal data, and decide the contours of how it should be regulated, whether as guidelines, rules, or a separate policy,' said a senior official at MeitY.
Norms for e-commerce likely, arm's-length pricing set for change.
Says Indian Patent Law conforms fully with global obligations under the WTO IPR pact-TRIPS.
Modi, upon arrival, was received by External Affairs Minister Sushma Swaraj.
Officials in the government, however, said India could only lodge a protest and not take legal action against the US.
Sitharaman, who became the first full-time woman defence minister in the first tenure of the Bharatiya Janata Party-led National Democratic Alliance government -- will also head the Corporate Affairs ministry in the new cabinet.
The Commerce Ministry wants the Reserve Bank to reduce interest rate for dollar credit in its forthcoming monetary policy to help sustain the fledgling recovery in the exports sector.
Billionaire Gautam Adani on Tuesday did an hour-long session of yoga exercises in the open air as he led corporate India to join the International Day of Yoga celebrations. Several public and private sector companies held yoga sessions at their offices to promote the adoption of exercise in daily routines to stay fit and healthy. Adani, chairman of logistics-to-energy conglomerate Adani Group, and his wife Priti, who heads the Adani Foundation, "participated with more than 1,000 members of the Adani Parivaar team to celebrate health, mindfulness and meditation," the group said in a statement. The session was held at a football ground at Adani Shantigram in Ahmedabad. Several other business leaders tweeted pictures of their yoga sessions.
To deny visa to trade officials planning to scrutinise country's trade and industrial practices.
Every twist and turn in KMC's civil service career is attributed to serendipity, an aptitude for making desirable discoveries by accident. He plays down his capabilities, which took him to the top of the civil service as the Cabinet Secretary or his misfortune in losing a daughter in her prime and suggests that his career was indeed serendipitous, observes Ambassador T P Sreenivasan.
Since January this year, Indian exporters have begun to dread the shipping news. That's because most of it would be about another lot of shipping companies deciding to avoid Indian ports on account of delays.
India Inc has couter attacked claims by US presidential candidates about the drain of jobs from US to India.
Just days before the G-20 summit in London, the commerce ministry has recommended anti-dumping duty on cold-rolled stainless steel originating in eight countries, including China.
Trade deficit with China has risen to $40 billion, a cause for worry.
The minister, however, said she was not in favour of relaxing rules for Apple to sell refurbished second-hand phones in India
The country's exports rose by 48.34 per cent to $32.5 billion on account of healthy growth in shipments of petroleum products, gems and jewellery, and chemicals, leather and marine goods, according to the data released by the Commerce Ministry on Thursday. Imports in June too rose by 98.31 per cent to $41.87 billion, leaving a trade deficit of $9.37 billion as against a trade surplus of $0.79 billion in the same month last year. During April-June 2021, the exports increased by 85.88 per cent to $95.39 billion.
