Group admins may now face legal consequences for failing to delete any "objectionable" content posted on the group.
September 15 is the deadline for paying the second instalment of advance tax. This is income-tax (I-T) taxpayers need to pay every quarter, instead of a lump sum at the end of the year. Ashutosh K Srivastava, senior associate, SKV Law Offices, says, "The tax has to be usually paid when income is earned. "Nonetheless, according to the I-T Act, the taxpayer has to estimate his income for the entire financial year. Based on that, he/she pays tax at specific intervals."
Tax benefit on WFH expenses, regulatory clarity on cryptos figure high on their wish list.
Attention to details is paramount when filing income-tax return (ITR). By mid-June, employees receive Form 16 from their employers. The first step in filing ITR is to compare Form 26AS with Form 16. If there are discrepancies in the figures quoted in the two documents, they need to be rectified.
You can avail of tax deduction on expenses incurred on preventive health check-ups. This provision is beneficial to younger people who don't exhaust their Section 80D limit with their health insurance premium.
When Open Network for Digital Commerce (ONDC) was conceived last December, the idea was to reduce the dominance of e-commerce giants like Amazon and Flipkart. It was also to bring in a level-playing field for small merchants in India's fragmented but fast-growing $1-trillion retail market. However, those goals have changed now as large e-commerce players such as Flipkart, Amazon and Ecom Express are in various levels of talks with the ONDC team. They want to form partnerships like integrating with the network as well as providing their expertise to build it, according to the industry sources.
If an assessee misses the December 31 deadline, s/he can file a belated tax return by paying a late filing fee. 'This must be done within three months from the original filing date.'
The Reserve Bank of India (RBI) on Wednesday proposed to make interoperability mandatory for digital payments firms. It also allowed users to withdraw cash from e-wallets and fintech companies to process RTGS and NEFT transactions. The RBI expressed dissatisfaction over prepaid payment instruments' (PPIs') failure to migrate towards full-KYC (know your customer) PPIs, and therefore interoperability, even two years after guidelines were issued.
The reopening of schools and colleges has sparked a crisis in the edtech sector with falling valuations, slowing funding rounds and faltering investor sentiment. In a totally altered, post-pandemic landscape where students are back at school and colleges, companies are scrambling to revert to bricks-and-mortar tuition centres and adopting a hybrid model of offline and online education. Demand for online tuition has fallen, affecting the revenue of edtech companies in recent months. After two years of booming revenues, some experts say the sector is looking at a possible meltdown.
The biggest fear many of the e-commerce firms have is the possible requirement to change business models overnight, which would drastically increase costs as well as disrupt businesses.
'If you are ready to stomach the loss, you may invest 3-5 per cent of your portfolio in crypto assets.' 'Of this, 80-90 per cent should be in Bitcoin.'
The proposals are mostly based on a report submitted by Justice B N Srikrishna in July 2018. The draft Bill has since gone through at least two updates based on inputs received from industry, report Yuvraj Malik and Peerzada Abrar.
According to industry insiders, India has 400 million smartphones and is the world's fastest-growing app market. So the addition or deletion of apps impacts the global valuations of these platforms. "Based on calls given by various local organisations to delete Chinese Apps, there will be an impact," said Blaise Fernandes, director at foreign policy think tank Gateway House. "All of them eventually will go the IPO (initial public offering) route so there would be economic impact also."
Even though PUBG Corporation is a South Korean company with its headquarters in Seoul, Tencent Gaming, a subsidiary of Chinese investment and technology giant Tencent, holds the global franchise for the mobile version of the game.
At a time when services are rapidly digitising in India, enterprises are witnessing a rise in cases of sensitive data exposure risks and breaches.
In the past few days, many companies, including fashion e-tailer Nykaa, food delivery platform Zomato, logistics and delivery firm Delhivery, insurance discovery platform PolicyBazaar, eyewear retail chain Lenskart, and edtech and online tutoring firm Byju's, have openly spoken about their IPO plans.
According to experts, this will have major impact on new investments by Chinese players in companies, such as Paytm, Ola, BigBasket, Byju's, Dream11, MakeMyTrip, and Swiggy, when they go for follow-up funding. Chinese investors, such as Alibaba, Tencent, and Xiaomi, are active in the Indian start-up space, and have collectively invested billions of dollars.
'Children as young as 10 are posting videos and there is no one to moderate them.'
In the worst-case scenario, it will be next to impossible for tech companies like Amazon and Google to run any service that requires user biometrics.
Top officials in key ministries, including finance and IT, are of the opinion that a sensitive payments system such as UPI should not be on a platform whose security is possibly compromised.
The fears arise from Facebook's handling of user data and potential privacy violations, more specifically the Cambridge Analytica scandal.
The updated election ads policy for India will require advertisers to provide a 'pre-certificate' issued by the EC or anyone authorised by the poll panel, for each ad. Further, Google will verify the identity of advertisers before their election ads run on its platforms, reports Peerzada Abrar.
According to official sources, various states are contemplating bans on TikTok, Kwai, LIKE and other such apps over the next few months, on the worry that these platforms encourage child pornography, nudity and the spread of fake news, report Karan Choudhury and Neha Alawadhi.
The banned Chinese apps, which include TikTok, Shareit and UC Browser, earn revenue mainly from online advertisements, subscriptions, and commissions for selling products. India is the biggest driver of these Chinese apps due to the population. The ban on the 59 Chinese apps will negatively affect the valuations of the companies, especially those going for IPO.
The lockdown that crippled the entire logistics, delivery and supply chain network to near zero, was enough to deal a body blow to India's fastest growing unicorn whose very business model saw a severe disruption, like several other firms and sectors.
Apart from making your purchases on these platforms expensive, it will also mean sellers will have to face the brunt of reduced cash flows amid already low margins for some. Experts said the proposal, which will take effect on April 1, 2020, and will be inserted as a new section in the Income Tax Act, is expected to affect the working capital of e-commerce companies and reduce cash flows for e-sellers.
'If Indians are to be truly protected, Parliament must review and address these dangerous provisions before they become law.'
If found with invalid one, the landlord will be in trouble and the tenant could face eviction
Signals received from the government in the past one year reflect a state of utter confusion, says Abhishek Tripathi.
The strategies that the gurus adopted to build their successful business empires over the past two decades could hardly be adopted by businesses that openly claim to be businesses, points out Somasekhar Sundaresan.
The problem of stressed assets needs to be addressed with effective recovery.
What perhaps turned the tide against Uber was the plight of the consumer.
India Inc has high hopes from the upcoming Budget.
'According to the government's Economic Survey, the Indian state's generosity is not restricted to its poorest citizens. In fact, in many cases, the beneficiaries are disproportionately the well-off.'
Prior public consultations when making regulations is a critical feature
Include digital assets in a will, as e-mail and social networking websites don't provide account access to legal heirs.
The justice delivery system is struggling to cope, creaking at the joints and bursting at the seams. Indian courts have to deal with about 30 million cases with a judicial strength of just about 19,000 judges.
The government has provided a long-term vision.
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