According to Parizad Sirwalla, partner (tax), KPMG, the withdrawal of annual tax free transport allowance and medical reimbursements has squared off the benefit on account of standard deduction.
The Ola Money and Uber tie-ups demonstrate how insurance companies, including even government-run ones, are forging partnerships with every possible service company to offer products.
Ghost beneficiaries aren't the only kind of issue companies face during a period of unprecedented CSR spending, touching nearly Rs 12,000 crore in 2018-19. Frauds related to procurement, construction, and end-use of funds have had companies engaging forensic auditors to keep tabs on how money is spent, revealed conversations with those involved in such investigations. Firms are also increasingly strengthening their own capabilities to better implement their programmes.
They are witnessing, or anticipating, a double-digit growth in job offers over the same period last year.
The revenue collection in the same month a year ago stood at Rs 94,442 crore.
Riding on this change in aspirations, V-Mart a value retail chain is growing close to 22 per cent year-on-year, and is aggressively looking to expand its footprint, with 60 new stores this year.
Growth will be elusive without structural reforms but there's reason to believe that it will be upwardly mobile from now on.
There has been an exponential increase in the use of technology to validate financial numbers, with a greater reliance on electronic evidence, use of live videos where possible, data analytics, and project management software to overcome the physical limitations in verifying transactions and accounts.
The e-invoicing system will be rolled out in a phased manner from January 1 on a voluntary and trial basis, beginning with firms with a turnover of Rs 500 crore, while businesses with a turnover of Rs 100 crore or more will be required to do it from February 1.
Travelling and studying will become more expensive. Even your stock portfolio is likely to suffer.
Call for fiscal autonomy to Union Territories with Assemblies may get louder with 'special status' to J&K in the Finance Commission, say experts.
English Premier League clubs spent some 485 million pounds ($789 million) in the summer transfer window, a 33 percent rise on last year, according to analysis published by advisory firm Deloitte on Thursday.
A study by New York-based Deloitte Center for Financial Services, titled The next decade in global wealth among millionaire households, says India is likely to experience the largest growth of a whopping 405 per cent in total millionaire wealth over the next decade.
It is one of the three marquee hotels owned by Sahara outside India.
Report said the proposed 10,000-Mw Jaitapur and 6,000-Mw Bhavnagar plants were seeing increased opposition.
Increase in surcharge will adversely impact fund managers planning to shift to India. As a matter of fact several fund professionals based in India could also relocate to other jurisdictions, resulting in a brain drain.
The recently-concluded lateral placement process at IIM-B saw the emergence of management consultants as the preferred choice for more than 55 per cent offers.
Consensus seems a problem before the current session of Parliament ends.
Gaming industry is estimated at $40 billion and is expected to reach $59 billion.
According to a study titled 'The Spinoff Report' by Deloitte, 'the global value of corporate spinoff -- where a division of a company becomes an independently listed business -- is set to increase to 250 billion pounds in 2012, an increase of 92 per cent from 130 billion pounds in 2011."
In fact, India stands to gain in sectors such as textiles, handicrafts, chemicals and pharmaceutical from its trade with the Asean economies.
Consultancy major Deloitte Global said that women hold about 12 per cent of board seats worldwide while only 4 per cent of them are at the helm of boards
AIR India's turnaround plan, which has been reviewed by consulting firm Deloitte and accepted by the airline's board, says the company will start making operating profit from this financial year itself. Air India has been running under losses since 2007.
This was reflected in India Inc's lackadaisical attitude towards sensitising employees on fraud prevention.
From auto, refrigerator, and mobile handset makers to real estate firms, companies are tying up with banks to dole out attractive finance schemes and discounts to make buying more affordable.
The world's largest retail company, Wal-Mart was founded by Sam Walton in 1962.
Protiviti Inc, one of the world's largest independent business and risk consulting firms, specialises in internal audit, estimated to be a Rs 1,35,000-crore (Rs 1.35 trillion) business globally.
Indian companies are likely to shell out an average salary increment of 10.3 per cent in the current fiscal with employees in pharma, health care and life sciences projected to get 12.4 per cent raise, says a survey.
Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank will ensure adequate liquidity in the system to ease the financial stress caused by the Covid-19 pandemic. The central bank reduced the reverse repo rate -- the rate at which banks park their fund with the central bank -- by 25 basis points to 3.75 per cent.
In 2015, Infosys, under the leadership of then CEO Vishal Sikka, had bought Israeli automation technology firm Panaya for around $ 200 million and e-commerce service provider Skava for $1 20 million. The buyouts were mired in controversy owing to allegation of over-payment apart from not being an ideal fit.
'Wine is an indicator of the quality of life,' says Alok Chandra.
The big four global accountancy firms -- PricewaterhouseCoopers, KPMG, Ernst & Young and Deloitte -- are circumventing laws to provide auditing services in the country, says a report of an Institute of Chartered Accountants of India's committee.
The highest salary rose by 14.22 per cent from last year.
Under the new system, Infosys will handle end-to-end solution - from e-filing to return assessment to refund processing. The new portal is also expected to process the refunds within one day of filing of tax returns, in huge relief for taxpayers.
'Our intentions were, and still are, to ensure the entire workforce is given as much protection as possible from redundancy and/or loss of earnings during this unprecedented period'
In contrast, the dominant manufacturing superpowers of the late 20th century are expected to become less competitive.
The rupee's plunging to record level and a sharp fall in the equity market are knee-jerk investor reactions to the US Federal Reserve's saying the it will slow down bond-buying programme in view of improving American economy.
The states which achieved "extraordinary growth" in total taxes collected include Kerala (44 per cent), Jharkhand (20 per cent), Rajasthan (14 per cent), Uttarakhand (13 per cent) and Maharashtra (11 per cent), an official statement said.
Finance Minister Nirmala Sitharama on Thursday stated the government is planning to provide a relief package of Rs 1.7 lakh crore to the underprivileged, poor and migrant workers affected by the lockdown amid the coronavirus outbreak. The scheme has been named the Pradhan Mantri Garib Kalyan Scheme.
From 100% tax deductions for contributions to PM-CARES fund to extending the due date for linking Aadhar and PAN card, the government has provided various tax relief and extensions in deadlines for statutory compliances, says Homi Mistry.
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