In this era of online commerce and virtual shopping, Raymond Ltd, one of India's oldest textile manufacturers and retailers, has tailor-made an offline strategy to maintain a strong foothold in the tier III and IV towns. Samreen Ahmad reports.
He is the first Indian-origin person to head a 'Big-Four' audit co.
To begin with, there would be the immediate integration of various technology stacks. This would create more business for global consulting and IT services entities such as KPMG, PwC, EY, Accenture and IBM, among others. Indian service providers - Infosys, Tata Consultancy Services (TCS), and Wipro, for instance - would also cash in.
In signs of acceleration in economic activity, India's tax collections on goods sold and services rendered returned to over Rs 1 lakh crore in July after the second wave of Covid-related restrictions caused a blip in the previous month. Goods and Services Tax (GST) mop-up grew 33 per cent year-on-year in July to over Rs 1.16 lakh crore, indicating that the economy is recovering at a fast pace. In July 2020, the collection was Rs 87,422 crore. This is the second highest collection so far this fiscal after a record Rs 1.41 lakh crore mop-up in April.
2018 recorded a strong uptick in start-up investments on the back of some mega deals and was the best year for the sector, surpassing the previous high of $4.8 billion in 2015.
Only 300 assessees came forward with disputed tax liabilities amounting to Rs 10,000 crore
Soon, one will be able to pay utility bills at the local supermarket, while buying groceries, with the RBI allowing the setting up of payment banks.
HUFs are not used for tax evasion but for tax avoidance/to save the tax within the four corners of the law. Experts say that there will be little or almost insignificant change in tax revenues.
Private equity and VC investments declined by 50 per cent. E-commerce deals lowest in value, volume in over 24 months. T E Narasimhan decodes the new EY report.
Assembly elections coming up in November and December could offer a window of opportunity to the government to make GST attractive through rate cuts.
The move will help address apprehensions as well as potential disputes on various computational and transitional issues such as the loss of input credits and pricing that were bound to arise on account of the change.
Some of the policy measures announced are expected to go a long way in removing current challenges on financing faced by businesses and also increasing economic activity, especially in areas of construction and manufacturing.
In 2012, private equity investments touched $7.5 billion.
The thrust will be on improving connectivity in economic corridors and remote and border areas with a view to hike trade and enable faster movement of cargo.
Government believes privatisation would increase the airline's efficiency and make it profitable, enriching the value of the remaining stake with it.
Wants details of Vijay Mallya transactions over 4 years
Fraud is a big concern among many board members.
'Banning Bollywood films will mean a paucity of content to keep the multiplexes and theatres running profitably.'
Independent directors were supposed to safeguard the interest of all stakeholders.
The time the companies have to get ready for GST is 6 to 12 months.
'This is a blip in the 100-year history of cinema.'
Fintechs need to behave with responsibility and transparency. A lot of mis-selling has been happening. Other issues have been plaguing the fledgling industry -- high interest rates, even higher processing fees, harsh collection process and, most critically, data leakage leading to rampant frauds, points out Tamal Bandyopadhyay.
India has been ranked as the most attractive investment destination in the world for the next three years.
The RBI rejection is a second blow to BoB - the lead bank of both companies -- after a Delhi high court order on August 18 stayed a move by BoB and the entire consortium of lenders to classify these accounts as fraud, restraining them from taking any other coercive action till the next hearing.
Will the warning shots from giants like Unilever and P&G break digital growth?
Nokia may now not sell its Chennai unit.
Although the June collections were higher than that in July, however, it is important to note that during the previous month, a large number of taxpayers also paid taxes pertaining to February, March and April 2020 on account of the relief provided due to COVID-19.
No major deals above the value of USD 300 million happened last month, causing the decline from January, which registered deals worth USD 3.5 billion, according to a report released by consultancy firm EY on Wednesday.
The first quarter of 2018 saw infrastructure and real estate drive investment worth close to $8 billion across 180 deals
With the amendment, firms like EY and Deloitte can work as resolution professionals instead of only their partners enrolling as insolvency professionals.
The high court's order, which says refunds paid on service inputs can be restricted, runs contrary to Gujarat HC verdict and could complicate matters.
Go through the options and cast your vote in favour of the candidate who, according to you, will be capable of reversing the fortunes of the beleaguered Congress party.
The new ITR forms have shifted the entire onus on the taxpayers to prove their claim for deductions, expenses or exemptions.
The PNB fiasco falls into a family line that involves non-fund limits - read contingent liabilities which are off-books. Harshad Mehta did it with bankers' receipts in 1992. Ketan Parekh exploited the ignorance of bankers who did not know the difference between a cheque and a pay-order. And the RBI blinked when it failed to insist the SWIFT platform be linked to the core banking solution. Raghu Mohan & Abhijit Lele trace the banking mess that was just waiting to happen.
Cancellation of at least Rs 3,000-crore worth of business has happened in the past few weeks.
India's news broadcasters are a national shame that have polarised Indians, observes Vanita Kohli-Khandekar.
Implementation of GST is expected to increase the gross domestic product of the country.
All major sectors -- real estate, e-commerce, IT, retail and consumer products, healthcare -- saw new all-time highs in value invested.
Pulse oximeters, hand sanitisers, temperature check equipment and ambulances too will attract lower 5 per cent tax.
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