Business subsidies may attract tax
In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator
Many in the US establishment must hope that the crisis would put the brakes on China's growing military might. Well, it ain't gonna happen, says T T Ram Mohan, who was appointed a member of the prime minister's economic advisory council on Wednesday, October 28, 2021.
His 7-day long trip to the United States starts on June 17.
Yet another achievement is added to PeeCee's growing list.
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Faced with over Rs 11,200 crore (Rs 112 billion) tax liability, Vodafone India chief Analjit Singh on Thursday met Finance Minister P Chidambaram for the second time this week and expressed the hope that there will be clarity soon on the proposal to settle the dispute through conciliation.
With cash shortage and plans going awry, the AirAsia owner is looking to cash out of the venture he built with Ratan Tata in 2013.
Services cannot create enough jobs that will match the skill sets of the bulk of the work force, says Nirvikar Singh.
'A strong foreign exchange reserve is the best safety net against global spillovers.'
The International Finance Corporation is planning to increase its investments in India to $1 billion in the next two years even as it has pumped in additional funds in a US-based company with operations in Chennai.
Amazon provided mere "lip service" and failed to provide any help to the debt-laden Future Group as the retail major suffered massive setback amid the COVID-induced lockdown and faced possible insolvency or debt restructuring, Future Group's promoters said in a letter to the e-commerce giant. This is the first time Future Group promoters have written to Amazon after the parties were embroiled in a legal battle over the sale of Future's retail assets to Reliance Industries. The letter from the promoters, including Kishore Biyani, was written on December 31. It alleged that Amazon's actions "lacked good faith" during the March to August period, when the group's retail business was severely hit by the lockdown.
Cox & Kings had a total debt of Rs 3,238 crore at end of FY19 and this included both short-term and long-term loans.
Pranab said he had clarified this issue in no uncertain terms with US Treasury Secretary who had brought up this issue during bilateral talks.
Sunak announced that the Immigration Health Surcharge (IHS) would be hiked from 400 pounds to 624 pounds.
Kerry is scheduled to head to India later this month for the fourth annual US-India Strategic Dialogue.
In its investor presentation, IHH said it wanted to develop Fortis into a market leader.
News of all that's transpired on and off the football field
The Budget provides a reassuring message about Prime Minister Narendra Modi staying the course.
Delhi has come to accept the Taliban takeover in Kabul as a reality and seems increasingly unsure of its dogmatic view of the Taliban as a mere proxy of the Pakistani military and security establishment, observes Ambassador M K Bhadrakumar.
Few of these highly sought-after socialising and networking hubs are seeing much activity as regulars are missing in action.
Some sectors like aviation, hospitality, travel and tourism, and automobile have witnessed zero cash flow since the lockdown began.
The 42-year-old Acharya's appointment for a three-year tenure was cleared by the Appointments Committee of the Cabinet.
Implementation of GST is expected to increase the gross domestic product of the country.
Finance Minister P Chidambaram has asked UK-based Vodafone Group, which is facing a tax liability of over Rs 11,200 crore in India, to give its view on the long-pending matter in writing, a senior official said.
Seeking to wriggle out of the FATF's grey list, Pakistan has imposed tough financial sanctions on 88 banned terror groups and their leaders, including Hafiz Saeed, Masood Azhar and Dawood Ibrahim, by ordering the seizure of all of their properties and freezing of bank accounts, a media report said.
In a most perverse example of tax bullying, someone I know has got by three such notices reopening his assessment minutes before the midnight deadline of June 30, reveals Debashis Basu.
Work on projects worth Rs 1,000 cr in full swing: Gift City
A good business school will put you through a battery of tests to improve your soft skills, says Dr Tarun Pasricha.
International cricket will gingerly ease out of a 117-day shutdown in Southampton next week but the scars of the COVID-19 pandemic will be clearly evident at the Ageas Bowl. An encounter between the fourth and eighth ranked teams in Test cricket is hardly a pinnacle but England's series against West Indies could offer a glimpse into a future where the game plods on under the shadow of the new coronavirus.
He did not believe in any fiscal puritanism. In 2012, when it was almost certain that the government will breach the 2012-13 fiscal deficit target, he wrote that in abnormal times, abnormal measures are required to get back to normalcy.
BSE proposes two models for making gold trading and investment transparent
The meeting, on the sidelines of the Annual Spring session of the International Monetary Fund and World Bank, will happen within a couple days of about a dozen US industry associations writing to the US Treasury Secretary to take up the controversial move by India to amend the Income Tax Act with retrospective effect.
The government on Saturday said it will review policies to facilitate the State Bank of India get new capital for growing business and international presence.
Hemant Kanoria tells Niraj Bhatt why understanding the dynamics of the borrower's business is critical for the lender.
The new provision under the Income-Tax Act may enable the authorities to seize trustees' personal assets if there's a breach of objectives governing registered charitable trusts.
FDI is a major driver of economic growth and a source of non-debt finance for the economic development of the country. The government has put in place an investor-friendly policy on FDI, under which investment up to 100 per cent is permitted on the automatic route in most sectors/ activities. At $ 64.37 billion, FDI in 2018-19 is the highest ever investment received for any financial year.
Let me assure you that we will spare no efforts to ensure that quality of life in Mumbai is comparable to the best international cities, says Maharashtra chief minister.
The flawed response to the crisis has fed a us-vs-them mentality in which the banker, the expert, the coastal entrepreneur, the immigrant, the foreigner are all villains. The crisis was not that much of a problem; the response -- the over-reaction, the sovereign debt build-up and the lasting anger -- is the problem, says Mihir S Sharma.
There is as yet no clarity on how the process of consulting with the RBI Governor, initiated under Section 7 of the RBI Act, would unfold in the coming days. The government is keen that its suggestions made in the public interest should be heeded by the central bank, says A K Bhattacharya.
The statue of Gandhi, which was donated by the Indian government to the city of Davis, was installed by the city council four years ago amidst protests from anti-Gandhi and anti-India organisations.
