OSAT majors have concerns about India's ability to provide a stable, predictable, and lasting policy environment for years to come, which is key for making a decision in a capital-intensive business.
Bombay High Court Justice Rohit Deo on Friday said he has resigned.
Startup founders need to sit up and think about how not to take stardom for granted and how not to disappoint their fans who have stood in long queues for those precious selfies with popular entrepreneurs, notes Nivedita Mookerji.
Mumbai, which adds 37 per cent to the total direct tax mop-up, has reported tax collection of Rs 4.93 trillion so far, against the full-year target of Rs 5.35 trillion.
Since the onset of the monsoon on June 24, 217 persons have died in rain-related incidents in Himachal Pradesh.
GST authorities have detected GST fraud of Rs 55,575 crore over the last two years and arrested over 700 persons for causing loss to the exchequer, an official said on Thursday. Over 22,300 fake GST identification numbers (GSTIN) were detected by the officers of the Directorate General of GST Intelligence (DGGI). The government on November 9, 2020, launched a nationwide special drive against unscrupulous entities for availing and passing on Input Tax Credit (ITC) fraudulently by issuing fake/bogus invoices, thereby evading Goods and Services Tax (GST).
The Supreme Court has dismissed an appeal filed the customs department against Adani Power Maharashtra Limited (APML), Adani Power Rajasthan Limited (APRL) and others in a case pertaining to alleged over-valuation of imported goods. "We have heard Balbir Singh, Additional Solicitor General appearing for the appellant(s), and Mukul Rohatgi, senior counsel appearing for the respondents, at length. "We are of the considered opinion that the matters are concluded by the findings of fact recorded by the authorities below and the impugned order(s) does not require any interference at our behest.
A taxpayer paying rent to his/her spouse is entitled to claim HRA benefit under relevant sections and within prescribed limits.
Senior tax officials were told to focus on cash collection from the arrears so that the target for FY23 was achieved and the overall revenue position improved.
The Appointments Committee of Cabinet has named Ravneet Kaur, a Punjab cadre IAS officer of 1988 batch, as chairperson of the Competition Commission of India (CCI). Kaur will hold the post for five years or until attaining the age of 65. She is the second woman to serve in an 'economic regulator' role after Madhabi Puri Buch, who was appointed chairperson of the Securities and Exchange Board of India last year and the first woman to head the country's chief national competition regulator.
The Enforcement Directorate (ED) on Wednesday produced WhatsApp chat records between former Jharkhand chief minister Hemant Soren and a close associate where information related to transfer and posting of state government officials involving 'huge amount of money' is alleged to have been discussed.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
The 'angel tax' provision in the Finance Bill will not impact startups in India, a senior government official said on Tuesday. Startups which are registered with the Department for Promotion of Industry and Internal Trade do not come under the purview, Anurag Jain, the secretary in the department said while speaking at the IVCA Conclave. "Let me put one thing very clearly. It doesn't affect startups in the least," he said, addressing the audience at the event organized by the venture capital industry lobby grouping.
The income tax department on Wednesday conducted raids in multiple states as part of a pan-India tax evasion probe against certain registered unrecognised political parties (RUPP) and their alleged dubious financial transactions, official sources said.
'My protest was in the interest of the nation.' 'I am just doing my duty as a citizen of this country.'
The FIR was lodged against food inspector Rajesh Vishwas, Sub-Divisional Officer of Pakhanjore RL Dhivar and Sub-Engineer Chhotelal Dhruv, both from the water resources department, at the Pakhanjore police station based on a complaint of nayab tehsildar (revenue official) of the area, a police official said.
"Is this a case for NSA?," the bench asked the state's counsel while observing that this is why allegations of political vendetta crops up.
At least two persons were killed and four others injured in West Bengal's Jalpaiguri district as a mortar shell, reportedly carried by the floodwaters of Teesta river, exploded, police said on Friday.
Kartik Kumar, a Rashtriya Janata Dal MLC, who became the state's law minister in the new Nitish Kumar government, resigned hours after being moved to a lesser significant Sugarcane Department on Wednesday night.
Their favourite alternatives: Malaysia, Vietnam and the Philippines. Note, India is missing from that list. And this is despite an attractive financial incentive scheme for OSAT players. The reason, said a senior executive of a US chip company who had a meeting in Taiwan just a few weeks ago, is that "they want more predictability in government policy because they plan to put in big money."
A complete ban on firecrackers in Delhi until January 1, the government's refusal to grant licences for sales in Karnataka, and restrictions in the Noida region are adversely affecting the business of manufacturers in Tamil Nadu's Sivakasi, which produces over 90 per cent of India's fireworks. According to industry players, demand has decreased by 20 per cent compared to last year. Moreover, the ban on the use of barium nitrate and the manufacturing and sale of joint fireworks is also impacting demand.
As heavy rains continued to batter Kerala, landslides and flooding were reported from many parts of the state, especially its southernmost district of Thiruvananthapuram, which was severely affected by waterlogging in several areas on Sunday.
As the heavy rains continued on Wednesday also, Orange alert was sounded in 12 of the 14 districts of the state for the day.
Amid long-pending dispute between the UK-based telecom giant Vodafone and the tax authorities in India, Finance Minister's advisor Parthasarathi Shome on Wednesday said the government should not use retrospective amendment of tax laws to raise revenues.
A dozen land parcels in Ranchi measuring about 8.5 acres in total are in 'illegal possession, occupation and use' of arrested former Jharkhand chief minister Hemant Soren and are proceeds of crime under the anti-money laundering law, the Enforcement Directorate has claimed.
The Supreme Court on Thursday extended Mishra's tenure till the midnight of September 15 in larger "public and national interest", after the Centre asserted that his continuity is necessary in view of the ongoing FATF peer review and attempts by India's neighbours to ensure that the country gets into the "grey" list.
The Yamuna river in Delhi swelled to the highest recorded level in 10 years on Tuesday and is expected to rise further, officials said on Tuesday.
The government declared Monday (Dec 4) a public holiday and urged private companies to encourage 'work from home' option for its employees in Chennai, Tiruvallur, Kancheepuram and Chengalpattu districts.
A GLOF occurred in parts of Lhonak Lake, leading to a rapid rise in water levels with very high velocities downstream along the Teesta River Basin in the early hours of October 4. This resulted in severe damage in Mangan, Gangtok, Pakyong and Namchi districts.
Evacuation of people living in low lying areas of the Yamuna floodplains began Monday evening with the river crossing the danger mark due to release of water from Hathnikund barrage in Haryana amid heavy rains in the northern belt of the country.
The Centre could further moderate its divestment target for 2024-25 (FY25), as it does not expect large receipts from asset sales - except some ongoing strategic ones, including IDBI Bank, which could spill over into next financial year. Also, it may drastically reduce its FY24 divestment target of Rs 51,000 crore. "We are still evaluating the Budget estimates for FY25. "New big-ticket asset sales are unlikely.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
The high court further asked the Delhi Development Authority to state its stand on a batch of petitions challenging the action and also seeking a bar on the demolition till a fresh "demarcation report" is prepared.
But the government will present a second tranche of Supplementary Demands for Grants during the Budget session of Parliament in February, when it can seek additional spending.
Spectrum auction: Govt revenues reach Rs 1.02 tln on Day 10
While everybody is talking about the vast potential of 5G, the uptake of such services in India depends on operators getting around 100 Mhz 5G spectrum. At the reserve price proposed by Trai, getting this spectrum will cost a telco around Rs 490 billion. Which amount could be difficult for operators to mop up, given the financial stress they are undergoing, says Kiran Rathee.
Ten ministers were inducted into the Mann-led cabinet on Saturday.
The Comptroller and Auditor General of India (CAG) has pointed out several flaws in the financial practices of the Gujarat government and said there was a need to formulate a realistic budget based on the needs of the departments.
Suella Braverman, an Indian-origin barrister, was appointed as the UK's new Home Secretary by Prime Minister Liz Truss earlier this week
If you have any grievances or disputes regarding the demand stated in the notice, consider seeking professional help.
