Terming the country as a 'fraud haven' with about 60 per cent of the firms having detected frauds in past two years, global consultancy major KPMG on Tuesday. Making the situation even worse, at least 5 per cent companies have had losses exceeding Rs 10 crore and more than double of them have estimated the hit on their bottom lines in the range of Rs 1 crore to Rs 10 crore, KPMG said citing its 'India Fraud Survey Report 2008.'
As part of the fund mobilisation move, the cabinet decided to seek financial aid from abroad through non-resident Keralites, from major cities in the country and also from educational institutions in Kerala.
Prime was the first to grab streaming rights for seven titles for an estimated Rs 300 crore.
Is sugar an essential commodity like your daily staples of wheat, rice and pulses? Well, the sweet commodity should not be included in the list of essential commodities by the government, says a new study by consulting firm KPMG.
E-commerce job queries have been increasing as well.
The Finance Act, 2020, has inserted a sub-section, mandating a seller to deduct tax equal to 0.1 per cent of sale proceeds if the value of goods sold exceeds Rs 50 lakh in a financial year.
Apart from IT and pharma, the lead spenders in travel are construction, automobile and metals and mining companies and together these sectors accounted for 82 per cent of business travel spend in India in 2015, up from 78 per cent in 2013.
The Central Board of Direct Taxes recently notified rules under which an entity based in a 'notified jurisdictional area' will have to give an undertaking to share information in a prescribed format.
Aditi, Diksha, Tvesa to play at Ladies Scottish Open.
While the tax-to-GDP ratio of 9.88 per cent has been assumed for FY21, the same as last year, when it touched a decadal low, for FY22 a ratio of 10.7 per cent has been assumed, an average of the last five years.
One key provision is the taxation of indirect transfers when shares of foreign entities change hands.
India is emerging as one of the most preferred private banking destinations at a time when the global private banking and wealth management industry is witnessing a boom in the mergers and acquisition activity, a KPMG report has said.
Cars and two-wheelers attract 28% GST and a cess in the range of 3-22%, taking the effective tax rate to up to 50%.
A three per cent reduction in corporate tax during this year helped India remarkably improve its ranking by five notches in the KPMG Corporate Tax Rate Survey 2006.
Saks sells luxury brands such as Jimmy Choo, Giorgio Armani, and Tod's, besides premium brands such as Fila and Puma.
Billionaire Mukesh Ambani's Reliance Industries has started a limited test use of WhatsApp to connect customers to grocery stores, days after Facebook decided to invest USD 5.7 billion in digital assets controlled by the company. JioMart, an e-commerce venture of Reliance Retail, "has already started interacting with customers on WhatsApp for grocery orders" in Navi Mumbai, Thane and Kalyan, Credit Suisse said in a report.
Following their passion paid off for Harsh Jain and Bhavit Sheth with their fantasy sports platform Dream11 entering the unicorn club with a valuation of over $1 billion.
The central bank's tough new rules spell major changes in the competitive landscape for financial services audits.
India has seen rapid progress in various big-budget infrastructure projects.
K R Girish, partner, KPMG India Tax and Regulatory Services, speaking on the Indian Union Budget 2009 at Asia Society in New York.
Arun Kumar, partner-in-charge, KPMG US India Practice, delivering his views on the Indian Union Budget 2009 at Asia Society in New York.
The hostile environment towards outsiders under the Trump government is a major reason, say experts.
Kumar joined KPMG in 1995 as a Finance Management Leader and from 2005 until his retirement in September 2013 he led the firm's West Coast Finance Management Consulting practice.
These city projects promise better urban living conditions.
Many Indians bet on cricket and other sports at offshore websites.
Here's a list of countries with no personal income tax.
The revamp of cities to offset hectic pace of urban living is the idea behind these mega projects.
There have been almost no year-on-year changes in market share within the Big Four.
There is considerable speculation as to whether this award would have any bearing on another Vodafone-type case, namely, the ongoing tax-related arbitration proceedings with Cairn Energy.
When the third round of bids was opened, Oaktree's offer was the highest, but with several riders. While Piramal offered higher upfront cash and offered to merge its financial business with DHFL, Adani was ranked third in the race, reports Dev Chatterjee.
Let's take a look at how fraud has grown in the country.
Around the world, countries, businesses and institutions are undergoing unprecedented change with new challenges and opportunities every day. Keeping this in mind, KPMG's study 2012 Change Readiness Index assesses these countries' on their ability to manage change and cultivate opportunity in the future.
The probe agency found irregularities in loans amounting Rs 3,642 crore sanctioned by Yes Bank to the travel firm.
Interview with Richard Rekhy, chief executive officer of KPMG India.
Let's take a look at effective income tax and Social Security rates on $100,000 of gross income around the world.
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