Maharashtra Deputy Chief Minister Ajit Pawar, who heads the Nationalist Congress Party, has said that helming the NCP away from the shadows of his uncle and founder Sharad Pawar after the split is a huge responsibility.
'Banks may find small ticket size lending economically unviable due to the cost of branch operations.'
International Monetary Fund (IMF) Deputy Managing Director (MD) Gita Gopinath has condemned the "terrible and disturbing" incident of rape and murder of a trainee doctor in Kolkata. "Personally, it is terrible to have any event of this kind. It is disturbing," she told Business Standard in New Delhi.
BPCL is a high revenue-earning public-sector undertaking (PSU) and plans to privatise it are completely off the table, Petroleum and Natural Gas Minister Hardeep Singh Puri said on Tuesday after assuming charge of the ministry for the second time. "Why would we divest ourselves of highly successful Maharatnas like BPCL," Puri said, arguing the Centre was not in favour of divesting its stake in oil PSUs.
The proposal in the Finance Bill to amend provisions of Section 179 of the Income Tax (I-T) Act relating to tax liability of directors of private limited companies from April 1, 2022, could increase risks for directors of medium and small-sized firms in case of non-payment, said experts. While the language of the provision is quite broad, the title of the section limits itself to 'liability of directors of private companies in liquidation'. The Bill proposes to align the title with the scope of the provision, thereby ensuring that orders under this section can be issued even if the relevant company is not under liquidation.
Finance Minister Nirmala Sitharaman is likely to step up efforts to boost consumption and rural economy while keeping inflation under check when she presents her sixth straight Budget on February 1. Experts said one way to boost consumption is to put more money in the hands of people, and one of the possible ways of doing it is by reducing the tax burden through tinkering with tax slabs or increasing the standard deduction. Another proposal is related to increasing the funds under the rural employment guarantee scheme MGNREGA and higher payout for farmers.
Billionaire banker Uday Kotak founded bank as well as brokerage created and oversaw an offshore fund used by an unnamed investor to profit from a plunge in Adani shares that followed a damning Hindenburg report, the US short seller said on Tuesday. Hindenburg Research, which had in a January 2023 report alleged stock market manipulations and accounting fraud at the Adani group, said it has received a show cause notice from the Indian markets regulator Sebi over gains made from betting on the conglomerate's shares.
'The expeditious enactment of labour codes and strategic measures to bridge the skills jobs gap are critical.'
The commerce department has reaffirmed its plans to launch the 'Trade Connect' e-platform to help exporters connect with stakeholders of international trade, as a part of the new government's 100-day action plan, a senior government official said.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
Whether you give stocks held for more/less than a year, benefits are nominal; donating cash is better.
A taxpayer paying rent to his/her spouse is entitled to claim HRA benefit under relevant sections and within prescribed limits.
The Budget proposed abolishing the under-performing, authority of advance ruling, to replace it with a two-member board of advance ruling.
If you disagree with the notice, be ready to explain.
The income-tax department has detected "unaccounted" transactions and investments worth more than Rs 100 crore after it raided two Jharkhand Congress MLAs, their alleged associates and linked coal and iron ore businesses across the state last week.
Bengaluru-based United Breweries (UBL), makers of Kingfisher beer, is eying strong growth in the premium beer segment, driven by changing consumer preferences towards premiumisation. "Across categories, premiumisation is taking place as people are looking for better choices and beer is no different. "People are upgrading to better beer and newer brands. We have a good offering of premium brands - Kingfisher's premium variants are Ultra and Ultra Max," Vikram Bahl, chief marketing officer (CMO), UBL, said in an interview.
Their downside is that the donor relinquishes all control over the transferred property, and certain tax implications may also arise.
Info Edge (India), the country's leading consumer internet company known for its platforms in recruitment (naukri.com), real estate (99acres.com), matrimony (jeevansathi.com) and education (shiksha.com) space, delivered revenue growth in line with expectations in the April-June quarter (Q1) of FY25.
If the government decides to go back to the old regime where the EPF was not taxed but the NPS was, the latter will become an unattractive product.
The government on Friday extended he deadlines for various income tax compliances and said the amount paid by an employer to employees for Covid-19 treatment would be tax exempt.
In the event of the BJP's poor performance in the assembly polls this year and in early 2025, Modi's hold will get further weakened because he will no longer remain the invincible electoral persona tightly controlling the machine at his disposal, asserts Nilanjan Mukhopadhyay.
There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
Banerjee said the prime minister will now have to move around the country and also abroad with two crutches.
The government has notified a host of procedural changes in the GST rules, including levy of interest for wrongful utilisation of ITC and turnover threshold for filing annual returns for the 2021-22 fiscal. The changes were vetted by the Goods and Services Tax (GST) Council at its meeting last week. With the amendments notified by the Central Board of Indirect Taxes and Customs (CBIC), businesses have also been allowed to make tax payments on the GSTN portal by using IMPS and UPI payment modes.
The move will establish a level-playing field for domestic investments in start-ups compared to foreign-based sources.
Under fire for technical glitches plaguing the new income tax return filing portal, Infosys CEO Salil Parekh on Wednesday said the new portal developed by his company is seeing "steady progress" and already 1.9 crore returns have been filed. He further said that taxpayers' concerns are being "progressively addressed". "We are seeing a steady progress on the income tax system. As of yesterday we had over 1.9 crore returns that have been filed using the new system.
The Central Board of Direct Taxes (CBDT) has issued detailed guidelines on facilitating tax deducted at source (TDS) on virtual digital assets (VDA) or crypto assets, under which date of transfer and mode of payment will have to be specified. From July 1, TDS of 1 per cent will be levied on payments towards virtual digital assets or cryptocurrencies beyond Rs 10,000 in a year, as the Finance Act 2022 has introduced Section 194S in the income tax (I-T) Act. The department has explained different scenarios through six questions to remove difficulties.
The coming Union Budget might give relief to foreign portfolio investors from taxation on indirect transfers.
Non-compliance can also result in legal complications and disputes with the tax authorities.
E-proceeding of tax scrutiny has certain technical and practical issues which need to be addressed before making the system fully electronically driven.
'Planning for the transfer of assets to the next generation is an important aspect of financial and estate planning.'
The US launched an investigation, focusing on whether the tax in India and other countries discriminated against American companies, were retroactive, and reflected unreasonable tax policy.
A day after joining the OECD-G20 framework for global minimum tax, the finance ministry on Friday said some significant issues including share of profit allocation and scope of subject to tax rules are yet to be addressed and a 'consensus agreement' is expected by October after working out the technical details of the proposal. Total 130 countries on Thursday agreed to a overhaul of global tax norms to ensure that multinationals pay taxes wherever they operate and at a minimum 15 per cent rate. India is in favour of a consensus solution which is simple to implement and simple to comply.
From the word go, Bihar growled its needs out when an MP from the state said aloud: "Give something for Bihar also, Madam." Every time the Budget mentioned cities and towns in Andhra Pradesh, "Kursi Bachao" was the call from Congress MPs.
The two-wheeler segment has shown signs of recovery in the first half (H1) of calendar year (CY) 2024, largely driven by improving performance in rural areas. According to the Federation of Automobile Dealers Associations, rural contribution to two-wheeler sales surged by 57-60 per cent in the April-June quarter of 2024-25, indicating a rising demand in these regions. Experts believe that this trend will continue, supported by a favourable monsoon season and government initiatives aimed at rural development.
IndiGo share price today: IndiGo share price fell as much as 4.8 per cent to a low of Rs 4,275 per share on the BSE in Monday's intraday trade as investors booked profit in the stock post a its April-June quarter (Q1) results for financial year 2024-25 (FY25). The stock ended 1.36 per cent lower at Rs 4,430 as against a 23-points gain in the benchmark BSE Sensex. The selling also got exacerbated as the management commentary, post Q1FY25 results, highlighted that inflationary pressure could likely dent July-September (Q2FY25) performance.
What are the five things that need to be looked at to ensure a seamless transition to GST?
Missing the deadline for filing Income Tax returns can lead to consequences.
Tax consultants and chartered accountants have started receiving a flurry of calls from their clients - both corporate and individuals - seeking clarity over changes in the reassessment regime made during the recently concluded Budget Session of Parliament. Tax experts apprehend the amendments may lead to the income-tax (I-T) department sending out more notices. The new provisions, effective from April 1, have extended the scope for tax sleuths to reopen the past assessments.
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