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.
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.
Otherwise, while filing returns, you may have to pay additional tax.
'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'
An Indian-origin accountant was killed by her former boyfriend who stabbed her 20 times after he found out that he had been dumped, a court was toldin London. Camille Mathurasingh, 27 was knifed 20 times in the kitchen of her home in Bow, after her former boyfriend flew in from Trinidad to try to win her back, the jury was told at the Old Bailey.Paul Bristol, 24, admits manslaughter but denies murder in April 2009.
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.
According to sources, various players specialising in e-auction like Deloitte, Metal Junction (it specialises in e-auctions for steel manufacturers and allied industries), Spiderboon Internet Service Pvt Ltd (an e-auction and e-tender service provider), N M Rothschild and Sons (investment banking and advisory firm) were represented.
The chartered accountants regulator ICAI on Thursday said KMPG cannot audit Satyam's books, but the global auditor said it does not require to register with the regulator to restate the IT company's accounts.
A week after B Ramalinga Raju, the promoter of Satyam Computer Services, confessed to manipulating the accounts for several years, Price Waterhouse, external auditors of the Hyderabad-based software services firm, said its audit report should not be relied upon.
With India gearing up to host the Commonwealth Games next year, hoteliers in the country are rushing to make the most of the likely spurt in tourist traffic, leading to a boom in development, global consultancy firm Deloitte has 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.
The total revenue earned by central government and state governments after regular settlement in December was Rs 43,851 crore for CGST and Rs 46,252 crore for SGST.
Despite these successes, Railway Minister Prabhu has had his share of criticism.
Real Madrid remained the world's richest soccer club and English clubs were hit by the declining value of the pound, according to an annual survey by accountancy firm Deloitte released on Thursday. Manchester United and Barcelona held their respective second and third positions in the latest "Football Money League" report on the world's 20 biggest soccer clubs ranked by revenue.
The empowered committee on GST headed by West Bengal finance minister Asim Dasgupta has agreed to a dual structure of the proposed indirect tax regime, which is likely to be introduced from April 2010. The new tax regime would do away with most of the indirect taxes levied at the Centre like excise and services tax, and VAT and Octroi at the State level.
English Premier League clubs spent a record 160 million pounds ($227.7 million) in the January transfer window, business advisory firm Deloitte said on Tuesday. Spending that defied the credit crunch was done mainly by Manchester City (more than 50 million pounds) and Tottenham Hotspur (45 million).
According to a survey conducted by the Deloitte and Data Security Council of India, 37 per cent of wireless networks had no encryption at all, followed by 49 per cent using a lower-level protection like Wired Equivalent Privacy encryption and just 14 per cent using security layers like Wi-Fi Protected Areas (WPA and WPA2) to secure their networks.
"About 450 head office and support staff are being made redundant by Woolworths as the turmoil surrounding the stricken retail chain's future continues," the Guardian website said. Deloitte, which has been appointed as the administrator for the collapsed retail chain said that the job cuts would be in Woolworths' Central London and Rochdale offices and not in the 815 stores of Entertainment UK, its DVD and CD distribution business, The Times said.
The domestic logistics industry, which is estimated to generate business worth $110 billion in the next two years, will need over 400,000 additional pair of hands in the next four to five years.
According to the decision, such entities can now first operate through e-commerce and then open brick-and-mortar stores.
Transfers have broken a new record this summer, with around 500 million pounds being spent on new players by English Premier League clubs, according to a report from consultancy firm Deloitte. That was around 30 million pounds more than the same transfer window last year.
Despite a steady collection rate, the government faces a steep Budget target of Rs 6.1 trillion for CGST for 2019-20.
It hopes to leverage the growing number of mobile transactions
Nandan Nilekani said one board member had received two anonymous complaints on September 30, 2019 - one dated September 20, 2019, titled 'Disturbing unethical practices' and an undated note with the title, 'Whistleblower Complaint'.
Indian small and medium enterprises are expected to emerge as major buyers of the information technology products by 2008. According to Joydeep Datta Gupta, executive director of Deloitte & Touche Consulting, any IT-led SME business transformation project could succeed only if the project was sustained.
Sebi's surveillance department has red-flagged unusual trading patterns in some stocks. Shares of some companies were seen going up ahead of a sharp sell-off.
The Board of Control for Cricket in India, eagerly awaiting a response from the Justice Rajendra-Mal Lodha panel on the appointment of an independent auditor, may not get one by October 25 as the three-member committee is not likely to meet on Monday.
NSO has pegged economic growth at 5 per cent in 2019-20 in its second advance estimates.
Politicians appeal to key groups of voters like farmers or the poor by keeping prices low and ignoring theft, prompting scepticism about whether states will agree to any package that forces tariff hikes.
Experts, however, said that it is a very nominal benefit to the salaried class.
All the 50 company CEOs, including the 17 companies headed by Indian Americans, were honored at a gala awards ceremony last month.
Sections in the draft Personal Data Protection Bill are a blatant violation of the Right to Privacy as guaranteed by the Constitution.
The internals of the food inflation are worrying, given a broad-based uptick across categories that tend to be sticky, such as proteins, and a narrower-than-expected reduction in inflation for vegetables.
AAP, set to form the government in Delhi, had said it was opposed to foreign direct investment in multi-brand retail.
The issues around trade gaps, especially around steel and aluminium tariffs imposed by the US, will be addressed separately.
While Delhi boasts of one of the best metro systems in the world and decent infrastructure, reckless construction, legalising unauthorised colonies, and the worsening water and air quality dent its image of being a robust cosmopolitan city.
Proposals from the Centre's side include raising the 5 per cent slab to anywhere between 6 and 8 per cent, and doing away with the 12 per cent slab. A few states may oppose such a move because it involves hiking tax on items consumed by the poor. They have instead proposed raising the 18 per cent slab.
The information technology (IT) industry has increased its contribution to the country's GDP from 1.2 per cent in 1997-98 to 5.2 per cent in 2006-07, according to a Nasscom-Deloitte study.
IT and ITeS sectors' contribution to India's GDP has increased by 4 times in the last 10 years, revealed a study.
