Companies such as Tata Sons and Bharti Telecom, which are unlisted but have listed subsidiaries, may soon have to file periodic financial statements with the registrar of companies under the new provision of the Companies Act. The provision requires greater financial disclosures by a certain category of unlisted companies.
As per the Budget proposals, migration of a fund to a fund in IFSC will not be regarded as transfer if done on or before March 31, 2023. Transfer of units will be tax neutral. Grandfathered investments of the fund to continue to enjoy capital gains exemption on future sale by the IFSC fund. There is no impact on carry forward of losses for the investee company.
Billionaire and Mahindra Group chairman Anand Mahindra along with top Silicon Valley investors Naval Ravikant and Balaji Srinivasan are backing space tech start-up Agnikul as part of a new funding round. Chennai-based Agnikul said, on Thursday, that it has raised $11 million in Series A funding round led by Mayfield India. It is the largest funding round for a private Indian space technology company in the country. Existing investors pi Ventures, Speciale Invest and Artha Venture Fund also invested in this round.
The PwC survey found more than 50 per cent respondents reporting lack of adequate skill sets
A significant 71 per cent of India's CEOs are very confident of their companies' growth in the next 12 months, a 7-point increase over last year's and 33 points above this year's global average (38 per cent).
Recruiters are now in search of candidates with soft skills alongside tech-based knowledge, says Ambrish Sinha.
The five-year (2015-16 to 2020-21, or FY21) compound annual growth rate (CAGR) of the overall auto industry is now negative at 2 per cent, against 5.7-per cent growth it saw in the previous five years (from 2010-11 to 2015-16).
The increase in infrastructure spends in the country is likely to be driven by sectors like housing, telecom, healthcare, education and transportation.
The Tata group may have to deploy upwards of $1 billion to improve the airline's passenger reservation system, upgrade and refurbish Air India's fleet, primarily the wide-body aircraft which are the mainstay for the airline's international operations, people in the know said. While the group has not yet decided on how it intends to integrate Air India with its existing airlines AirAsia India and Vistara, sources said the first task will be to refinance Air India's existing loans, upgrade its aircraft gradually, and rewrite multiple business contracts with vendors and suppliers. "They will have to do 100 things to stabilise the airline and will have to put in a lot of money," DIPAM secretary Tuhin Kanta Pandey said, confirming that many aircraft are grounded.
The industry is expected to spend an additional $500- 1,000 million during the same period on logistics functions.
Although the June collections were higher than that in July, however, it is important to note that during the previous month, a large number of taxpayers also paid taxes pertaining to February, March and April 2020 on account of the relief provided due to COVID-19.
Last Saturday, USL board asked its Chairman Vijay Mallya to quit.
'Rationalising TDS on dividends for FPIs to reduce it to treaty rates ranging from 5 to 15 per cent, depending on the country of residence of FPIs from current rate of 20 per cent will provide a big cash flow relief for FPIs.'
Accountancy regulator ICAI on Wednesday agreed to withdraw disciplinary proceedings against audit firm Price Waterhouse Delhi for its alleged involvement in the multi-crore scam in Satyam Computer Services.
Analysts expect firms to shift focus to online platforms to boost sales in these Covid-19-impacted times.
Salman Khan's lawyer on raised a question in the Bombay high court as to why police had gone for a blood test when no witness or FIR had ever suggested that the actor was drunk or was smelling of liquor.
The year 2018 is likely to be steady in terms of institutional investment into real estate
According to experts, work from home, volatility in stock markets worldwide, and redemption pressures compelled investors to defer new investment plans.
The fourth additional sessions court in Hyderabad on Wednesday posted the orders on the bail petition of Price Waterhouse auditors to Thursday.
FutureBrand, which is a global brand transformation company, said part of Reliance's success could be attributed to Mukesh Ambani's recasting of the firm as a one-stop-shop for Indians.
The cricketing world is all set for another feast with the Indian Premier League.
PriceWaterhouse (PW) has said that it resigned as statutory auditor of Satyam Computer Services with effect from February 12, 2009, while stating that it would co-operate with the ongoing investigations into the Rs 7,800-crore (Rs 78 billion) fraud at the IT major.
Led by the booming e-commerce sector, private equity investments in India surged over 17 per cent with deals worth $ 11.49 billion
While auditors have come in for a lot of praise for their proactive stand against what they perceive to be dodgy practices followed by companies, there is still a long way to go, says Shyamal Majumdar.
Mop up grows 10% y-o-y at Rs 1.05 trillion, almost equal to levels in February before a nationwide lockdown to contain the coronavirus pandemic
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.
India is likely to lose Rs 53,000 crore from its economy as companies are unable to hire people with right talent for the job and are incurring high recruitment costs, says a study.
The court also observed that working for Rashtriya Swayamsevak Sangh does not make a person communal and anti-social.
Mercedes-Benz India, BMW India and Audi India have lined up over 50 new model launches as they seek to recoup previous year's loss in volumes, reports Shally Seth Mohile.
The unidentified hackers had executed money transfers on two separate occasions - August 11 and August 13 - which raises the question of why pro-active measures were not taken on the first night itself
The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
US proposal to raise the global corporate tax rate to 28% from 21% might face resistance from countries unwilling to give up their edge and compete with America on its terms.
Average global growth prospects for the next 12 months and the next three years are 35 per cent and 49 per cent, respectively.
'Imagine taking care of a patient who is infected with Covid. A human nurse is unable to do that due to fear of infection. The robot can do that task, while it is controlled or supervised by the human nurse. So the robot becomes an extension of the nurse.'
India needs to follow countries such as Singapore who have and are further bolstering their cyber security apparatus.
Firm makes disclosures of improper transactions worth Rs 1,225.3 crore with entities linked to beleaguered businessman
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