The finance ministry said the notification pertains to putting in place an efficient mechanism for collection of stamp duty on security market instruments transactions through stock exchanges or clearing corporations authorised by stock exchanges and depositories.
Starting July 1, passengers will be charged an aviation security fee of Rs 150, as opposed to the current Rs 130 for domestic flights, and $4.85 as compared to the current $3.25 for international flights.
Hindustan Zinc (HZL), a subsidiary of Vedanta, announced an interim dividend of Rs 21 per share last week, resulting in an outflow of Rs 8,863 crore. The announcement has turned the spotlight on India Inc's dividend-paying policy - more so for reasons driving the generosity of firms. An analysis of BSE 500 companies by Business Standard Research Bureau shows that some of the top 20 dividend-paying companies in 2021-22 (FY22) include Vedanta, Tata Consultancy Services, HZL, Oil and Natural Gas Corporation (ONGC), Indian Oil Corporation (IndianOil), Hindustan Unilever (HUL), Reliance Industries (RIL), and Bajaj Auto, among others.
A New York court has paused Cairn Energy's pursuit of US assets of Air India for the recovery of $1.2 billion arbitral award, so as to allow the British firm to reach a settlement with the Indian government on the long drawn dispute. The New York district court delayed the tax suit to November 18, according to court documents reviewed by PTI. This follows Cairn Energy and Air India jointly asking the court to stay further proceedings in view of the fresh government enacting a fresh law to scrap retrospective taxation in the country.
Cairn Energy and Air India have jointly asked a New York federal court to stay further proceedings in the British firm's US lawsuit targeting the airline for enforcement of a $1.2-billion arbitral award. The move follows the government enacting a law to scrap retrospective taxation in the country, which in effect will result in withdrawal of the Rs 10,247 crore tax demand on Cairn, according to court documents reviewed by PTI. The British company had won an international arbitration award against levy of such taxes and sought to take over Air India assets when the government refused to honour the award and pay it $1.2 billion-plus interest and penalty.
'Known for his innovative styles and perfumes, Issey Miyake built a global fashion brand, which included designing Steve Jobs' famous black turtle neck jumpers.'
'Both Japan and China face a common challenge: How to deal with Trump.' 'The trade war with the US seems to have facilitated/hastened Abe's China visit, the first by a Japanese prime minister since 2011,' points out Dr Rajaram Panda.
UK-based Cairn Energy PLC on Tuesday said it will drop litigations to seize Indian properties in countries ranging from France to the US, within a couple of days of getting a USD 1 billion refund resulting from the scrapping of a retrospective tax law.
Ramkrishna gave 'frequent, arbitrary and disproportionate' increase in compensation to Subramanian when there was no evidence of any performance evaluation being done for him and nor was there any evidence to satisfy the rating of A+ given to him for giving such high increment.
CCPA said the primary issues raised in the notices included 'deficiency in service'. This includes lack of proper response from customer support, driver refusing to take payment by online mode and insisting for cash only.
It has decided not to levy the 2 per cent tax deducted at source (TDS) on cash payments above Rs 1 crore made through Agricultural Produce Market Committees.
'As far as contract farming is concerned, we already have a model Act and states will be encouraged to adopt them.'
Last year's Budget had created uncertainty about the quantum of tax to be withheld on dividends paid to non-residents, as the exact tax rate was not specified under section 195.
'Jaish looked to creating regional mayhem, at a time when peace appeared more likely, and when that peace would have threatened Jaish's existence.'
Under the hybrid-till model, a portion of non-aeronautical revenue (commercial revenue) at the airport is taken into consideration while fixing the landing and parking charges, user fees and other aeronautical charges.
A large percentage of total tourism business activity of India, which is estimated at $28 billion+ in forex and upwards of Rs 2 lakh crore in domestic tourism activity will be at economic risk through the year.
On Thursday, Prime Minister Narendra Modi had urged citizens to observe Janta curfew by not going out of their homes from 7 am to 9 am on Sunday amid novel coronavirus pandemic.
The direction to Kerala Rail Development Corporation Ltd (KRDCL), or K-Rail as it is popularly known, was welcomed by Congress-led United Democratic Front opposition as they termed it a victory of the first phase of the struggle against the semi-high speed rail corridor.
'One of R&AW's greatest achievements is in projecting itself as benign.' 'This work -- done in tandem with the Diaspora and the MEA -- sells a story of India as mostly the victim.'
Mumbai, Bengaluru, and Kochi airports have hiked their landing charges by up to 45 per cent, increasing the operating cost for airlines at a time they are facing financial constraints because of the two months of grounding and weak demand.
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The government is likely to file an appeal against the Cairn arbitration award contesting its sovereign rights to tax, sources said.
Capital markets regulator Sebi on Monday came out with a framework for operationalising the gold exchange, wherein the yellow metal will be traded in the form of electronic gold receipts (EGRs). The stock exchange desirous of trading in EGRs may apply to Sebi for approval of trading in the new segment, the regulator said in a circular. The bourses can launch contracts with different denomination for trading or conversion of EGR into gold. Under the new framework, the entire transaction has been divided into three tranches-- creation of EGR; trading of EGR on stock exchange and conversion of EGR into physical gold.
After Air India, Britain's Cairn Energy PLC plans to target assets of state-owned firms and banks in countries from the US to Singapore as it looks to ramp up efforts to recover the amount due from the Indian government after winning an arbitration against levy of retrospective taxes. A lawyer representing the company said Cairn will bring lawsuits in several countries to make state-owned firms liable to pay the $1.2 billion plus interest and penalties that are due from the Indian government. Last month, Cairn brought a lawsuit in the US District Court for the Southern District of New York pleading that Air India is controlled by the Indian government so much that they are 'alter egos' and the airline should be held liable for the arbitration award.
We have not suffered such huge price shocks across so many basic commodities, at the same time, in decades. Has the inflationary impact of all this been factored into stock prices as yet, asks Debashis Basu.
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While the Cabinet has approved doubling of gas price from April 1 next year, Oil Ministry is proposing that old rates of $4.2 per million British thermal unit apply to gas from D1/D3 and MA fields in eastern offshore KG-D6 block till it proved that RIL had proved less than targets only because of geological factors.
GST collections in March slipped below the psychological Rs 1-lakh crore mark for the first time in four months to Rs 97,597 crore as the COVID-19 lockdown that shut most businesses compounded tax collections in an already sluggish economy.
Any company resident in a country has to pay both indirect taxes as well as Income Tax.
Reform ideas do not occur overnight and evolve over the years.
The proposed move to withdraw the DDT would help encourage investments by addressing multiple taxation of income and bringing down the effective tax rate on companies, which is among the highest in the world.
'But India, increasingly, is not that far behind, which is a story I never expected to tell.'
Lok Sabha passed the Finance Bill, after approving more than two dozen official amendments, by voice vote, thus completing the Budgetary exercise for 2019-20 in the Lower House.
Any speculation suggesting otherwise, or any rumours around sale of our business in India are incorrect and simply that -- rumours, says head of the US-based asset manager.
The airport operator currently levies a development fee of Rs 600 from an international passenger and Rs 100 from a domestic traveller.
In the video, Bachchan explains GST as an unifying force just like the three colours in the national flag.
The organisation established its electoral presence post-Independence in states such as Tamil Nadu, Andhra Pradesh, Kerala and Assam, with West Bengal being its main stronghold, but eight decades down the line, the party, now limited to just some pockets of the country, has no MP or MLA in its kitty.
In January last year, the US signed the first phase of the trade deal with China, which former President Donald Trump described as historic, concluding more than a year of tough negotiations including several months of suspension of talks between the two largest economies of the world.
The move would come as a relief to air passengers.
Speed skating - Swings wins mass start, brings first Belgian Winter gold in 74 years.
The levy had to come into effect from April 1. It would now be in force from July 1.
The package includes raising of Rs 15,000 crore sovereign bonds to meet the immediate capital requirement of both the companies, 4G spectrum allocation worth Rs 20,140 crore, Rs 29,937 crore for VRS covering 50 per cent of their employees, and Rs 3,674 crore for goods and services tax that will be levied on allocation of radiowaves.
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