The Delhi High Court on Thursday asked the Income Tax (IT) department to take a decision on the offer of Finnish mobile maker Nokia to pay a minimum deposit of Rs 2,250 crore (Rs 22.50 billion) to it towards the tax liability of the company which is nearly Rs 6,500 crore (Rs 65 billion).
The lockdown in Maharashtra will have a catastrophic impact on April sales, as dealers will not be able to realise the potential of festivities like Ugadi, Gudi Padwa, Baisakhi and Poila Boishakh.
On possible alliances for the upcoming state polls, the SP president said, "Doors of our party are open for all small parties. Many smaller parties are already with us. More will come with us."
The only reason why the Marazzo interests you is because your budget doesn't afford you the better MPV, the Toyota Innova and that's where Mahindra has played the masterstroke, the price, it fits right between the Ertiga and Innova and if you want an MPV in this price bracket, the Marazzo is just unbeatable.
The government plans to bring down its stake to 26 per cent in these two banks, which are yet to be identified. This may not come in the way of getting investors for these banks, provided the government is willing to step back rather than run them the way it had been doing for over five decades since these banks were nationalised, points out Tamal Bandyopadhyay.
Pharma major Sun Pharma remained the worst loser in the Sensex pack for the second day in a row after reports that regulator Sebi may reopen the insider trading case against the company.
Rajesh Alva/Rediff.com reveals the good, bad and ugly of the latest MPV from the Mahindra stable.
The current crisis Karnataka Chief Minister Siddaramaiah is facing is a cumulative effect of inattention to water management and the fiscal burden of populist promises, says Aditi Phadnis.
Many view private equity-related funds as a better way of capturing the upside in the economy, given that stock market valuations have been swollen by three to four years of almost uninterrupted share price rises.
The IHS Markit India Manufacturing PMI rose from 51.2 in November to 52.7 in December. Factories benefited from a rebound in demand, and responded by scaling up production to the greatest extent since May. As per the survey, new work orders witnessed marked improvement, with the pace of expansion picking up to the fastest since July.
The central government is likely to exceed the budgeted tax collection target of Rs 22.2 trillion for the current fiscal year, led by better indirect tax mop-up, compliance measures, and recovery in most sectors following the second wave of the Covid pandemic. Personal income and corporate tax collections (net of refunds) grew 74 per cent to Rs 5.70 trillion in the first half of the current financial year, driven mainly by advance tax and TDS payments. The target for the current fiscal year is Rs 11.08 trillion; higher taxes are paid usually towards the end of a fiscal year.
During the month, inflation in vegetables shot up to 35.99 per cent, as against 26.10 per cent in October. Likewise, the prices of cereals and eggs grew at a faster pace of 3.71 per cent.
GAMES-TOURISM Tourism industry asked to cash on C'Wealth Games New Delhi, Aug 19 (PTI) With over one lakh foreigners expected to throng the city during Commonwealth Games, tourism industry must gear up to reap the benefits, Tourism Minister Kumari Selja said today.
The key demand drivers -- such as low home loan rates and income tax sops, particularly for affordable housing -- that supported the recovery in H2 FY2021, remain in place and will spur recovery again, feel experts.
The gems and jewellery industry is staring at a sales washout on Akshaya Tritiya for the second consecutive year as most of the states are under lockdowns due to the raging second wave of the COVID-19 pandemic which has led to negative consumer sentiment, say industry leaders. Akshaya Tritiya, considered as an auspicious day for buying gold and jewellery, falls on May 14 this year. India is the worst-hit among all nations with the second wave of the pandemic, which has been killing more than 3,500 daily and infecting close to 4 lakhs daily for weeks. The massive caseload has nearly paralysed the medical infrastructure.
Will scrap bid if it falls below government's revenue expectations.
Michael Dell clinched shareholder approval on Thursday for his $25 billion offer to buy and take Dell Inc private, ending months of conflict with the company's largest investors and removing the uncertainty surrounding the world's No. 3 PC maker.
The Indian Air Force argued that Hindustan Aeronautics Limited's HTT-40 trainer jet would be costlier than the Swiss Pilatus trainer over its 30-year service life. When HAL challenged this contention, the IAF was not able to back it with figures.
The Reserve Bank of India, for the second straight time, on Thursday kept its key policy rate unchanged at 5.15 per cent, maintaining its accommodative policy stance as long as it was necessary to revive growth. The central bank retained GDP growth at 5 per cent for 2019-20 and pegged it at 6 per cent for the next fiscal.
In the second policy review under Governor Shaktikanta Das, the six-member Monetary Policy Committee voted 4:2 in favour of the rate cut.
After contracting for two quarters in a row, the Indian economy entered the positive territory with a growth of 0.4 per cent in the October-December quarter, mainly due to good performance by farm, services and construction sectors, official data showed on Friday. Trade and hotel industry registered a contraction of 7.7 per cent during the third quarter this fiscal, as the sectors continued to suffer on account of coronavirus pandemic. According to the data released by the National Statistical Office (NSO), the farm sector recorded a growth of 3.9 per cent, and the manufacturing sector output grew by 1.6 per cent in the quarter under review.
Sensex heavyweight Reliance Industries fell 2.76 per cent. In percentage terms, major laggards were Yes Bank, Indusind Bank, RIL, ICICI Bank, HDFC and Axis Bank -- plunging as much as 6.62 per cent.
'The Triber, which sits between the Kwid and the Duster in the Renault portfolio, is an affordable option for those who have their sights set on a multipurpose vehicle and want to get something different from, say, a Maruti Suzuki Ertiga,' says Pavan Lall.
In October, CPI inflation was 5 per cent.
Images from the World Athletics Championships on Sunday, Day 3, in Oregon.
Bolstered by improved domestic demand, India's services sector expanded for the fourth consecutive month in January as business activities quickened and rising business optimism is set to sustain the growth momentum, a monthly survey said on Wednesday. The seasonally-adjusted India Services Business Activity Index rose from 52.3 in December to 52.8 in January, pointing to a quicker expansion in output. The index was above the critical 50 mark that separates growth from contraction for the fourth month in a row during January.
The Rajiv Gandhi assassination, investigation and trial were all jinxed in parts, recalls N Sathiya Moorthy.
The inflows meant assets under management of gold ETFs climbed by over 4 per cent to Rs 13,503 crore at the end of August from Rs 12,941 crore at July-end.
On International Women's Day, hundreds of women took to streets while raising slogans of "kisan ekta" (farmer unity) and some broke into nonchalant rhythmic steps of 'bhangra'.
The country's exports dipped 8.74 per cent to $23.52 billion in November on account of contraction in shipments of key sectors like petroleum, engineering, chemicals and gems and jewellery, official data showed on Tuesday. Trade deficit during the month narrowed to $9.87 billion as imports too declined by 13.32 per cent to $33.39 billion.
'It is important for states to agree 10-15 per cent duty cut and take home the same amount of tax revenue as budgeted.'
Wholesale prices, India's main inflation measure, had risen 6.1 per cent in August.
The Supreme Court and its committees, the two states and the central government must become objective and take the present and not just the past in mind.
The 13th edition of the IPL will have added significance as 2020 is also a T20 World Cup year.
The Bharatiya Janata Party on Wednesday warned the Congress that it should desist from raking up the issue of the alleged snooping of a woman by Gujarat government, saying the party "would have nowhere to hide if the skeletons in its cupboards are brought in the open".
Veterans recall they haven't seen gold falling for 3 years in a row.
Vodafone's long-pending tax dispute with the government might be heading for a resolution, with the finance ministry considering changing the Income-Tax Act's retrospective amendment and taxing indirect transfer of assets prospectively from 2012, the year the law was clarified.
The Congress on Wednesday kept up attack on the government over removal of governors appointed during United Progressive Alliance rule, saying its priority should be to combat inflation and not "shadow boxing" while the Janata Dal-United demanded a debate in Parliament over the very need of having governors.
A summary of Thursday's second leg quarter-final matches in the Europa League.
The Reserve Bank of India on Tuesday kept key rates unchanged.
