Also, a dedicated cell, headed by a member of the Central Board for Direct Taxes (CBDT), will be set up to address concerns faced by start-ups.
Every player has a passion so I want more and more children to play. There should be an infrastructure for them, he added.
After defaulting for a consecutive time in paying its investors, National Spot Exchange Ltd (NSEL) got a Rs 177-crore (Rs 1.77 billion) lifeline from its main promoter, Jignesh Shah-run Financial Technologies.
Sales of four- and two-wheelers almost halved in August, compared to the equivalent month last year.
In January, Visa's chief executive officer, Al Kelly, said during an earnings call that "there's been a burst of the balloon in valuations in the fintech world". Noting that the trend of lower valuations "is a helpful characteristic of the current environment", he added: "We will look for capabilities and management teams that will bring more value to Visa than we can bring ourselves." Data from KPMG's Pulse of Fintech H2'22 shows that global fintech investment - via mergers and acquisitions (M&As), private equity (PE) and venture capital (VC) firms - at $164.1 billion in 2022, was down 31 per cent over the year before. Indian fintechs held up better during this timeframe, attracting $6 billion, or a fall of 24 per cent.
Hedgeloop, Accuracap and other entities are pioneering a growing market and attracting much interest from businesses by using software to make informed decisions in this area
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The GST will subsume most of the indirect taxes like excise duty and service tax
Shubman Gill and Suryakumar Yadav may get promotion in the annual central contracts list for the 2022-23 season.
The sale of Nature's Basket, Godrej's chain of food stores in west India, is the second exit by a big group in a year in the category
However, the tribunal rejected the plea by the Netherlands based vendors for filing an intervention application, saying the Dutch district court had no jurisdiction to order bankruptcy of Jet Airways.
Senior citizens and others depending upon income from bank fixed deposit (FD) schemes will be at the receiving end with the retail inflation exceeding the interest rates. The Reserve Bank of India (RBI) in its latest monetary policy review has projected retail inflation at 5.3 per cent for the current financial year. Last week, the RBI said that the Consumer Price Index (CPI)-based inflation is now projected to be at 5.3 per cent for 2021-22 with risks evenly balanced.
Both Jet Airways and Go First have met with a similar fate of landing up in insolvency, albeit for different reasons. Whether Go First will be able to avoid the sharp erosion in value like in the case of Jet, experts say, will depend on how quickly it is able to restart operations and retain its slots at airports. Go First, owned by the Wadia group, filed for voluntary corporate insolvency resolution on May 2 due to inadequate capacity utilisation that led to a cash crunch.
While two-wheeler sales are down 15 per cent year-on-year, passenger vehicles sales are lower by 5-7 per cent.
If any foreign account holder violates Indian laws, tax authorities can enforce repatriation of funds.
The old guard of Board of Control for Cricket in India continued to show defiance to the Supreme Court-appointed Committee of Administrators (COA) with only six state units filing their responses to "Due Diligence Report' prepared by Deloitte on the functioning of these associations.
Demerging print and TV news businesses will allow for separate investment by interested players.
The government on Friday announced that no tax will be charged on overseas spending of up to Rs 7 lakh in a year using debit or credit as it looked to douse backlash from its earlier decision of levying TCS on all spending. The government had earlier this week brought overseas credit card spending under Liberalised Remittance Scheme (LRS). This meant that any spending using credit cards overseas would attract a 20 per cent tax from July 1.
Financial institutions at the risk of US sanctions as sharing of documents on SC directive amounts to violation of existing agreements.
Large number of buyers has put purchases on hold because of a combination of factors, including high fuel prices, higher insurance cost, and firm interest rates.
A quick look at the winners of the 82nd Annual Golden Globe awards.
'Now we will have real employees as the owner of the airline.'
Any transaction where the value of Indian assets exceeds 50% of the FTC would attract taxes in India.
One of the key concerns of foreign investors is how the general anti-avoidance rule would apply in case an investor is availing benefits under double taxation avoidance agreement.
The trademarks/brands on the block include Fly Kingfisher, Flying Models, Funliner, Fly the Good Times, Kingfisher and Flying Bird Device.
Dealmakers and advisors feel investors are shifting their focus to Asia Pacific, especially India, owing to geopolitical instability driven by events such as Brexit and protectionist trade wars.
A large team led by Kumar Mangalam Birla has taken charge of the integration process.
And there have been months when flows have exceeded $3 billion.
While the scam highlights the need for an overhaul of the oversight mechanism of banks and of their internal controls, questions are being raised on why multiple audits failed to raise an alarm
However, Icra Rating Principal Economist Aditi Nayar feels that the numbers are a bit too optimistic and need real heavy-lifting by the Centre and the states. "The survey forecasts on real and nominal GDP will require a substantial push from Central and state spending as private sector capacity expansion is anticipated to be intermittent, and sector-specific in the next couple of quarters," she said. Nayar added that private consumption is likely to chart a differentiated recovery across income and age groups. Based on the comments made in the Survey, she expects the Union Budget to incorporate a growth in gross tax revenue of 15-16 per cent.
GST will lead to consolidation of multiple indirect taxes
Recent incidents suggest these safeguards perform well in simulated conditions and mock drills, but often fall short when actual threats emerge.
Though the intent has been hailed as good for the economy, teething problems remain with a five-rate structure for various goods and services
Top companies in China are valued at 7.7 times the trailing 12-month earnings against a P/E ratio of 18.6 times for Nifty 50 companies.
A fundraising boom in the domestic market and tightening of the regulatory framework for overseas issues are responsible for this trend.
Experts have flagged issues regarding the levying of new cess/tax, especially those related to complications in administering the cess.
At Rs 20,000 crore (Rs 200 billion), e-commerce has seen one of the fastest rates of growth in investment activity this year.
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.
The 17-lender consortium led by State Bank of India has also put the Flying Models, Funliner, Fly Kingfisher and Flying Bird Device on the block.
Reit as an investment vehicle has a huge opportunity as the country has a rent-yielding office inventory of 537 million square feet valued in excess of $70 billion.
