Tax experts said that in FY17 around 80,000 people had reported incomes of over Rs 1 crore
A mentor doesn't have to be someone more senior than you, but that isn't the case with a sponsor.
This year is set to be the third consecutive year when India's share of IPOs has fallen relative to the rest of the world.
An analysis of S&P BSE 500 companies suggests that promoters of Indian private-sector companies in particular could end up paying at least 20 per cent more as additional tax on the same dividend income.
Everyday consumerables, such as grocery and order-in food items are the key buyout sector, analysts say, and a major reason for kirana stores' digitisation push.
More and more PE players are willing to test the waters now, just in case they become early entrants in a future booming business.
Instead of making the sellers bleed, experts say, e-commerce giants Amazon and Flipkart have roped in banks to offer discounts to buyers.
The Reserve Bank of India on Tuesday banned chartered accountant firm Haribhakti & Co LLP from undertaking any type of audit assignments for regulated entities for a period of two years starting April 1, 2022.
Discussing the prospect of more reform earlier this month, telecom minister Ashwini Vaishnaw announced a delay in the 5G spectrum auction. India's telecom sector regulation has to be benchmarked with the global best, he said. It's another matter that many countries have either introduced or are about to roll out 5G services that will enable cutting-edge tech in diverse areas. For India, too, it will mean a lot for healthcare, robotics and unleashing a new chapter in Digital India perhaps.
A rare bonhomie among three private telecom companies in raising tariffs coming on the back of a bailout package by the government may have helped the telecom sector avert a crisis but the challenges haven't ceased to exist as the industry faces a cash-guzzling task of rolling out 5G networks in the coming months. The sector that provides direct and indirect employment to millions is projected to see Rs 1.3 lakh crore to Rs 2.3 lakh crore of investments in the coming years in creating robust infrastructure and building telecom and network products that have been incentivised by the government through PLI and other initiatives. After years of cut-throat competition and the apex court ruling on payment of past statutory dues left some players in the lurch, billionaire Sunil Mittal's Bharti Airtel and struggling Vodafone Idea almost in tandem raised tariffs, taking the plunge they had long been talking about.
Dividend distribution tax in FY20 would only be applicable after deducting Rs 70 received from the foreign subsidiary, meaning 20.56 per cent DDT would be paid only on Rs 30.
India's GDP estimates for 2020-21 show that the economy is expected to perform much better than earlier projections by different agencies, indicating a sustained V-shape post-lockdown recovery, experts said. The first Advance Estimates (AE) by the National Statistics Office (NSO) has projected a contraction of 7.7 per cent in the real GDP during 2020-21. This was better than the projections by certain international agencies like the IMF and World Bank.
Private equity and venture capital investments more than halved to $3.6 billion in May 2021 when compared to the preceding April's $7.5 billion and a third lower than the year-ago period's $5.4 billion, a report said on Monday. However, on a year to date basis, the venture investments by these two categories of investors have doubled to $20 billion for the first five months of 2021, the report by industry lobby IVCA and consultancy firm EY said, stressing that investors continue to remain bullish. It can be noted that the country underwent the ravages of the second wave of the pandemic since April this year.
Financial institutions are 300 times more vulnerable to cyberattacks than any other industry.
The race for space has got real, and it is attracting funding like never before. In 2022 so far, funding to private players in the space sector has jumped a whopping 61.5 per cent - soaring to $108.52 million compared to $67.2 million in 2021. Propelling it is the government's decision to open up the space sector to private players and the work done by companies like Skyroot Aerospace, the Hyderabad-based start-up behind the launch of India's first privately developed rocket on November 18.
The silver lining is that after two years, e-commerce has emerged as the top sector with $689 million in investments across 15 deals, accounting for 43 per cent of all investments in January 2021.
India Inc needs to tighten norms against sexual harassment at work.
The revenue collection in the same month a year ago stood at Rs 94,442 crore.
There seems to be no dearth of funds to fuel this growth, report Peerzada Abrar and Shivani Shinde.
The income tax department estimates total collection to be between Rs 10.5 trillion and Rs 10.7 trillion against the revised target of Rs 11.7 trillion.
Prices of two-wheelers, passenger and commercial vehicles are set to rise 15-25%
Even as the gaming industry battles multiple regulations in different Indian states, it has received more than double the amount of investment this year compared to 2020. Industry watchers attribute this to the growing popularity of gaming, spurred by the pandemic, and the innovative business models gaming firms have built. According to data from industry tracker Venture Intelligence, investment in India's gaming sector in 2021 has more than doubled to $794 million, as against a total investment of $339 million last year. In 2019, this number was $176 million. Marquee investors such as Tiger Global (Dream11), Sequoia Capital India (Mobile Premier League), WinZO (Griffin Capital Partners), Tencent (Dream11) and Matrix Partners (Zupee) have pumped money into the sector.
From real estate to metals, what Sitharaman's Budget has in store.
Having grown swiftly since the acquisition of Flipkart by Walmart in 2018, it was looking at a valuation of $10 billion. However, factors such as lack of diversification, new e-commerce and data policies, as well as the overall investment environment, have slowed the process.
Retrospective claims may not stand the test in international courts.
The three companies have been issued observations by the watchdog, according to the update on the processing status of draft offer documents as on October 8. An observation letter is mandatory for an initial share sale. In Sebi parlance, the issuance of observations implies its go-ahead for the IPO. One Mobikwik Systems Ltd is a leading mobile wallet (MobiKwik Wallet) and Buy Now Pay Later (BNPL) player in India.
Experts say it's not only important to get due-diligence done by an independent firm but it needs to be cross-checked, too.
India's shift towards US companies for technology investments and partnerships fits well with the present government's 'Atmanirbhar Bharat' and 'Make in India' initiatives, say experts.
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.
A slew of Indian firms, including Flipkart, Byju's and Zomato, is building a path to profitability and diversifying into newer business segments ahead of mega-IPO plans.
This may mean easier access, simplified KYC and documentation requirements, and fewer investment restrictions for a majority of FPIs, especially broad-based funds and pooled vehicles that were earlier part of Category-II.
To help revive the economy battered by COVID-19, Finance Minister Nirmala Sitharaman on Monday announced a slew of measures, including Rs 1.1 lakh crore credit guarantee scheme for improving health infrastructure, and enhancing the limit under the ECLGS by 50 per cent to Rs 4.5 lakh crore for the MSME sector facing liquidity crunch. Sharing the details of stimulus package, the finance minister said this comprises eight relief measures and other eight measures to support the economic growth. She announced Rs 1.1 lakh crore loan guarantee scheme for COVID-affected sectors, including health sector, which includes guarantee cover for expansion or for new projects. Besides, she said, additional Rs 1.5 lakh crore limit enhancement done for Emergency Credit Line Guarantee Scheme (ECLGS) scheme.
$47.6 bn capital invested across 921 deals in India in 2020, despite pandemic.
The contraction in M&A activity in India contrasts sharply with the upbeat global picture, much of it led by a reviving US economy.
Air India owns 32 aircraft, and has 37 aircraft on finance lease; Air India Express owns 17 aircraft on finance lease. The aircraft-related debt of Air India is Rs 16,000 crore; it's Rs 1,100 crore for Air India Express.
From filing 37 returns a year when the Goods and Sales Tax was first introduced in July last year, the process has undergone major changes as the GST Council considered and implemented various models to ease the pain for assessees. Here's a recap of how the process has changed in 10 months.
Majority of PLL's long-term deals are linked to crude, which faces price challenge from other fuels. Spot LNG is moving away from this linkage, which puts a question mark on crude linked contracts.
Even at early stage, start-ups are raising more money faster owing to the rise of a lot of specialised early-stage VCs and emergence of seed-stage programmes.
KPMG's global board will meet in India next week
Its entry will increase competition especially when WhatsApp too has received approvals to launch payment service.
