'Before you work on your business plan, before you build your team, you should have a clear idea about what your product is, who your customer is, how valuable the product is, and whether the market is deep and wide.'
The United Kingdom extracted USD 64.82 trillion from India over a century of colonialism between 1765 and 1900 and USD 33.8 trillion of this went to the richest 10 per cent -- enough money to carpet London in notes of 50 British pound almost four times over.
With Donald Trump all set to become US president, Indian exporters may face high customs duties for goods like automobiles, textiles and pharmaceuticals if the new US administration decides to pursue the 'America First' agenda, opined trade experts. Experts also said that Trump could also tighten H-1B visa rules, impacting costs and growth for Indian IT firms. Over 80 per cent of India's IT export earnings come from the US, making it vulnerable to changes in visa policies.
The government-backed Open Network for Digital Commerce (ONDC) is likely to start levying user charges in the current financial year.
The staffers posed as US Internal Revenue Service department officials, making a daily turnover of Rs 1.5 crore.
The impact of Trump's announcement of increasing import tariffs will have negligible benefit for India not because of companies trying to shift from China to other countries or their supply chains being affected due to their Chinese operations but because of our faulty policies, explains Mudit Jain.
Another trend: A preference for coloured diamonds among brides, who are pairing them with their groom's birthstone. So, along with yellow or white diamonds, they are choosing pink, green, blue sapphires, emeralds or red rubies.
Hero MotoCorp (HMCL) saw strong volume performance in the first quarter of the current financial year (Q1FY25), but margins disappointed due to weak spare part sales and negative electric vehicle (EV) margins. The company hopes for a strong festive season due to better rural sentiment. Revenue grew 16 per cent year-on-year (Y-o-Y) to Rs 10,140 crore, operating profit was up 21 per cent to Rs 1,460 crore, and adjusted net profit grew 19 per cent Y-o-Y to Rs 1,120 crore.
For Yogi Adityanath the successful management of the fair is a crucial part of building 'Brand UP' and making the state a $1 trillion economy.
The five Ahmedabad-based call centres that made calls to people living in the US are Hglobal, Call Mantra, Worldwide Solution, Zoriion Communications and Sharma BPO Services.
Given the significant cross border trade of services with the US, the service regulations are of particular significance for India
The Goods and Services Tax (GST) Council, scheduled to meet on June 22, could take a call on ending uncertainty on taxing foreign airlines and shippers as regards certain services, a senior official in the know told Business Standard. He said the Council was expected to decide on exempting the services in question from GST - aircraft lease rentals, maintenance, crew salaries, etc. These services are provided by foreign airlines to their Indian operations.
The Budget should use the extra RBI surplus to better effect, suggests A K Bhattacharya.
IndiGo share price today: IndiGo share price fell as much as 4.8 per cent to a low of Rs 4,275 per share on the BSE in Monday's intraday trade as investors booked profit in the stock post a its April-June quarter (Q1) results for financial year 2024-25 (FY25). The stock ended 1.36 per cent lower at Rs 4,430 as against a 23-points gain in the benchmark BSE Sensex. The selling also got exacerbated as the management commentary, post Q1FY25 results, highlighted that inflationary pressure could likely dent July-September (Q2FY25) performance.
On Thursday, the bench, after perusing the plea copy, noted that Wankhede had approached the Central Administrative Tribunal, too, against the notices issued to him by the NCB.
Adding petrol and diesel to GST was a challenging task due to their significant role as revenue generators for both the central and state governments.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 22.5 per cent rise in net profit for the quarter ended March on the back of bumper oil refining margins, steady growth in telecom and digital services and strong momentum in the retail business. The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to Rs 16,203 crore in the quarter ended March 31, 2022 from Rs 13,227 crore, the firm said in a statement. Net profit, however, fell 12.6 per cent sequentially -- breaking a six-quarter chain of quarter-on-quarter improvement.
'Whether I am optimistic or pessimistic is not the issue; I am just going by the evidence available.' 'The Indian economy and financial sector are now well-placed and very resilient in dealing with any kind of spillover coming from the external world.'
Reuters reported earlier this week that the Competition Commission of India (CCI) has sent a warning notice to the companies expressing concern that the merged entity will effectively have a monopoly on cricket broadcast rights worth billions of dollars, allowing it to squeeze advertisers.
Sanjay Sethi, 52, of New Jersey pleaded guilty on Tuesday before US District Judge Jose Linares in Newark federal court to an information charging him with conspiracy to conceal assets in undeclared bank accounts from the Internal Revenue Service.
A prominent Indian American neurosurgeon, Dr Arvind Ahuja, of Milwaukee, Wisconsin, has been convicted for hiding $8 million (about Rs 44.8 crore) in secret offshore accounts in India, and is scheduled to be sentenced on January 13, 2013.
This case is the largest investigated by the Pandemic Response Accountability Committee Fraud Task Force to date, US Attorney for the Northern District of Texas Leigha Simonton said in a press release.
The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.
The World Bank on Tuesday raised the growth forecast for the Indian economy to 7 per cent for the current fiscal year on the back of recovery in agri sector and rural demand. World Bank had in June projected India to grow at 6.6 per cent for FY24. According to the World Bank Report released on Tuesday, India's growth continues to be strong despite a challenging global environment.
The Department of Treasury has finally responded to a letter by a coalition of Indian-American organisations, led by the Global Organisation of People of Indian Origin (GOPIO), but reiterated the Internal Revenue Service warning that there will be no extension of the August 31, 2011, deadline for the Offshore Voluntary Disclosure Initiative.
Though the IRS did not make any concessions, it was news to them that the community had so many complaints.
'We have now drastically simplified it, primarily to two rates in long-term capital gains: 20% and the applicable rates. Similarly, in short-term capital gains.' 'For listed shares, there is a slight increase, but for unlisted shares, where indexation benefits are removed, there is a reduction in rates, benefiting unlisted companies, venture capital firms, etc.' 'Similarly, in real estate, wherever returns are higher, the new structure is beneficial. In very few cases, returns are lower, and those are more of an exception.'
The stock of Voltas, the country's largest room air- conditioner (RAC) maker, is up 22 per cent in the past three months. Robust demand on the back of a sweltering summer, distribution expansion, slew of launches and backward integration are expected to forge a good operating performance for the company. In the core RAC segment, there are multiple triggers for the company.
The House Democratic Whip Steny Hoyer welcomed the White House action.
The three-year-old US law seeks to improve tax compliance involving foreign financial assets and offshore accounts.
The government is awaiting reports from the ED and the US agency before deciding whether or not accounts of the Ramalinga Raju family-promoted Maytas firms need restating.
Edtech firm Unacademy has laid off 250 people across verticals, according to people familiar with the matter, reducing its employee strength by 50 per cent from what it was two years ago. Of those, 100 are from core functions such as marketing, business, and product, while the rest are from sales.
The Internal Revenue Service announced on February 8 a special voluntary disclosure initiative designed to bring offshore money back into the US tax system and help people with undisclosed income from hidden offshore accounts.
The IRS uses a John Doe summons to obtain information about possible tax fraud by people whose identities are unknown.
Furious with the United States tax agency Internal Revenue Service, a software engineer crashed his small plane into a seven-storey building in Texas housing nearly 200 federal tax employees, igniting a raging fire that sent workers running for their lives.
Three Indian-Americans face up to 15 years in prison if they are convicted in a bribery case in the United States, a website has reported. The case is said to be the largest in the US involving bribery in a revenue office.
'A rigid or overly broad interpretation could lead to a chilling effect on investments and growth in sectors traditionally driven by private initiative.' 'Entrepreneurs may fear that their assets could be arbitrarily appropriated by the State under the guise of serving the 'common good' without sufficient legal safeguards.' 'The judgment thus supports a more nuanced view, one that balances individual property rights with public welfare objectives.'
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
A small plane crashed into a seven-storey building in Texas on Thursday that houses government offices, including the Internal Revenue Services' criminal investigation unit, but the US ruled out any terrorist involvement in the incident.
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