BlackRock has again reduced the valuation of its share in edtech firm Byju's - this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022. The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.
The RBI raked in a massive net income gain from foreign exchange currency sales as a buffer for the rupee during tumultuous geopolitical upheavals last year owing to Russia's invasion of Ukraine.
Not doing so might mean a penalty, not being able to revise returns or carry forward losses and forfeiture of interest on refund
The sentence could go up to three years if the evasion exceeds Rs 50 lakh (5 million).
The penalty can be a maximum 50 per cent of the tax.
Pulse oximeters, hand sanitisers, temperature check equipment and ambulances too will attract lower 5 per cent tax.
OSAT majors have concerns about India's ability to provide a stable, predictable, and lasting policy environment for years to come, which is key for making a decision in a capital-intensive business.
Recently, the finance ministry waived off basic customs duty and health cess on imported oxygen and related equipment for three years.
Deadline ends, after two extensions and only 70% file detailed return for July
The income tax department on Monday released rules for equalisation levy - a tax on online advertisements that would come into effect from June 1.
If advance tax revenue fails to meet the expected growth, these PSUs could be asked to pay taxes on past demands raised against them.
According to local newspaper La Vanguardia, the agreement specifies that their sons, Milan, 9, and Sasha, 7, will move to Miami with their mother.
You can carry forward losses and revise the returns umpteen times in case of mistakes.
Aadhaar-based electronic verification code will do away with need to send physical ITR-V copies to I-T centre
FM proposed rationalisation of various tax exemptions.
Taxpayers might face several issues while filing returns this year.
The combined market capitalisation of Adani Group companies fell by Rs 54,876 crore, to Rs 10.92 trillion, as investor sentiment turned bearish on Wednesday. Shares of Adani Transmission fell by 7.7 per cent to close at Rs 886 while those of Adani Power lost 7.1 per cent to end the day at Rs 323. The stock of Adani Enterprises, the flagship company of the group, lost 6.2 per cent to finish at Rs 2,530.
One pro tip that will help you let go: Do not look back.
The tax forces young startups to part with a portion of the capital they have raised from investors due to disagreements over the valuation of the company by Income Tax officials.
IBM, Nokia Oyj, Microsoft cases could now be resolved
Tax experts said historically in July and August indirect tax collections remain subdued and pick up with the onset of the festive season post Ganesh Chaturthi.
The proposal to levy a minimum tax based on assets undoes most of the good that the code seeks to do and will discourage capital-intensive industries.
At least 200 investors have to furnish financial statements
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In a major boost to combat the menace of black money across the world, top financial body OECD has amended its rules on obtaining classified tax information by partner countries.
The income-tax department may make a permanent account number (PAN) mandatory for cryptocurrency investors, in line with the demat account rules for stock market transactions, according to two people privy to the discussion. At present, disclosure of crypto holdings and related gains is voluntary. If tax authorities go ahead with the PAN mandate, crypto exchanges will have to furnish a statement of financial transactions (SFT) before the income-tax department.
It is not just about archaic limits, there are a number holes which, if plugged, will come to the aid of taxpayers, rues Neha Pandey Deoras
Market regulator Sebi suppressed important facts from the Supreme Court and "slept over" Directorate of Revenue Intelligence's letter on alleged stock manipulation by the Adani firms, one of the PIL petitioners in the Adani-Hindenburg row has alleged in the top court in an affidavit. The apex court is seized of four PILs on the Adani-Hindenburg controversy including those by lawyers M L Sharma and Vishal Tiwari, Congress leader Jaya Thakur and law student Anamika Jaiswal. On August 25, SEBI had informed the apex court it has completed the probe in all but two allegations against the Adani group, and is still awaiting information from five tax havens on the actual owners behind the foreign entities that have invested in the conglomerate.
Assembly elections coming up in November and December could offer a window of opportunity to the government to make GST attractive through rate cuts.
The federal agency issued a summons to Vaibhav Gehlot (43) last week, asking him to appear before the investigating officer of the case at its headquarters on A P J Abdul Kalam Road here under the provisions of the Foreign Exchange Management Act.
DDT is levied at the rate of 20% on dividend paid by cos to shareholders.
The project, code-named MF101 by Foxconn, will be spread across 1,500 acres at Talegaon or Khopoli.
NRIs can repatriate the proceeds from the sale of a residential property in India, provided they meet a few conditions.
Experts say only three per cent individuals pay taxes.
Notably, Pakistani journalist Ali, cited the BBC documentary on the 2002 Gujarat riots and said he "regretted" that no US official had criticized it, while the US State Department highlighted the close relationship between the two countries, especially over shared values.
Begin the year-end review by assessing whether your portfolios are on track to achieve your life goals.
A total of 728 applications have been received till July 18, 2016 for Start Up recognition.
'Tenants who pay rent above the threshold limit must be extra cautious about TDS fillings.'
The Organised Crime and Corruption Reporting Project (OCCRP) on Thursday trained its guns on the Adani Group, alleging hundreds of millions of dollars were invested in publicly traded group stocks through Mauritius-based 'opaque' investment funds managed by partners of promoter family, charges the conglomerate denied vehemently.
Top management of firms should be summoned for a few specified reasons and after written justification at a senior level.
