As Covid-19 cases surge in India, companies have realised it's a tightrope walk between maintaining production and ensuring employee safety.
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.
With an epic battle of billionaires for supremacy in one of the world's most prolific markets and a pandemic-propelled surge in online shopping in the background, India's nearly trillion-dollar retail market is hoping to touch 85 per cent of the pre-COVID business in the first half of the New Year. In a year when the COVID-19 carnage ripped apart the retail business, circa 2020 will best go down for the unravelling of the war between Jeff Bezos, the world's wealthiest man, and richest Indian Mukesh Ambani for pre-eminence in the booming market that is estimated to reach $1.3 trillion by 2025. It all started with Ambani's Reliance Industries agreeing in August to buy assets of the nation's second-largest retailer for Rs 24,713 crore, just a year after Bezos' Amazon purchased an indirect stake in the indebted Future Retail.
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.
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.
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.
In contrast, the dominant manufacturing superpowers of the late 20th century are expected to become less competitive.
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.
Call for fiscal autonomy to Union Territories with Assemblies may get louder with 'special status' to J&K in the Finance Commission, say experts.
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.
A United States-based automobile company may set up a car manufacturing facility in Punjab with an expected investment of $1 billion, as audit and consultation firm Deloitte has made enquiries on behalf of the firm with the state government.
The highest international package of $150,000 was offered by a commodities trading company while the highest domestic compensation of Rs 32 lakh (Rs 3.2 million) was offered by a Europe-based investment bank, according to an IIMK press statement.
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.
There is more to tax planning than just Section 80C and infrastructure bonds.
With telecom and banking majors stepping up mobile banking services, 2011 is poised to be the year that would transform your banking habits - making payments or checking your account balance on your mobile.
The highest salary rose by 14.22 per cent from last year.
Total indigenous production between 2011 and 2015 would need to expand from about $30 billion to more than $70 billion.
Mahindra Satyam, the erstwhile Satyam Computer Services, has sought time until September 30 from the Company Law Board (CLB) to file financial statements.
The airline has an annual wage bill of Rs 3,100 crore (Rs 31 billion) and the report has said as many as 2,600 employees will retire during the period of freeze.
This demand is over and above the Rs 1,200 crore.
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.
If proved correct, MJ-1 would the third biggest gas field in KG-D6 after D1&D3.
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.
The decision to seek tie-up details from CA firms, especially those associated with the Big 4 -- PWC, Ernst & Young, KPMG and Deloitte -- follows a report by an Institute of Chartered Accountants of India committee on the multi-crore Satyam scam.
'Wine is an indicator of the quality of life,' says Alok Chandra.
Cabinet to take up proposal to extend operation & maintenance contracts from 9 to 29 years
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.
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.
KPMG's global board will meet in India next week
At least one Indian company will be among the top six carmakers that would dominate the global auto industry by 2020, a study by global consultancy firm Deloitte said.
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.
Exemption limits, standard deduction on radar.
Tax experts said historically in July and August indirect tax collections remain subdued and pick up with the onset of the festive season post Ganesh Chaturthi.
The government is looking to plug loopholes in the Indian customs law provision that allows tax exemptions for gifts up to Rs 5,000 and trade samples up to Rs 10,000 sent to India from abroad.
'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'
Indian venture capitalists and private equities are expected to invest over $8.5 billion (about Rs 42,000 crore) in the next five years in sectors like biotechnology, life sciences, film production and education, an Assocham-Deloitte study said.
Ninety-nine companies, which also include some unlisted ones, have more than Rs 100 crore each of minimum alternate tax credit on their books, cumulatively adding up to Rs 75,000 crore. By utilising MAT credit, many companies will be able to bring down their effective tax cost.
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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