At least one Indian company will be among the top six carmakers that would dominate the global auto industry by 2020, a study by global consultancy firm Deloitte said.
KPMG's global board will meet in India next week
Cabinet to take up proposal to extend operation & maintenance contracts from 9 to 29 years
With an epic battle of billionaires for supremacy in one of the world's most prolific markets and a pandemic-propelled surge in online shopping in the background, India's nearly trillion-dollar retail market is hoping to touch 85 per cent of the pre-COVID business in the first half of the New Year. In a year when the COVID-19 carnage ripped apart the retail business, circa 2020 will best go down for the unravelling of the war between Jeff Bezos, the world's wealthiest man, and richest Indian Mukesh Ambani for pre-eminence in the booming market that is estimated to reach $1.3 trillion by 2025. It all started with Ambani's Reliance Industries agreeing in August to buy assets of the nation's second-largest retailer for Rs 24,713 crore, just a year after Bezos' Amazon purchased an indirect stake in the indebted Future Retail.
Indian venture capitalists and private equities are expected to invest over $8.5 billion (about Rs 42,000 crore) in the next five years in sectors like biotechnology, life sciences, film production and education, an Assocham-Deloitte study said.
Under the new system, Infosys will handle end-to-end solution - from e-filing to return assessment to refund processing. The new portal is also expected to process the refunds within one day of filing of tax returns, in huge relief for taxpayers.
Exemption limits, standard deduction on radar.
The states which achieved "extraordinary growth" in total taxes collected include Kerala (44 per cent), Jharkhand (20 per cent), Rajasthan (14 per cent), Uttarakhand (13 per cent) and Maharashtra (11 per cent), an official statement said.
Otherwise, while filing returns, you may have to pay additional tax.
In 2015, Infosys, under the leadership of then CEO Vishal Sikka, had bought Israeli automation technology firm Panaya for around $ 200 million and e-commerce service provider Skava for $1 20 million. The buyouts were mired in controversy owing to allegation of over-payment apart from not being an ideal fit.
'Wine is an indicator of the quality of life,' says Alok Chandra.
An Indian-origin accountant was killed by her former boyfriend who stabbed her 20 times after he found out that he had been dumped, a court was toldin London. Camille Mathurasingh, 27 was knifed 20 times in the kitchen of her home in Bow, after her former boyfriend flew in from Trinidad to try to win her back, the jury was told at the Old Bailey.Paul Bristol, 24, admits manslaughter but denies murder in April 2009.
According to sources, various players specialising in e-auction like Deloitte, Metal Junction (it specialises in e-auctions for steel manufacturers and allied industries), Spiderboon Internet Service Pvt Ltd (an e-auction and e-tender service provider), N M Rothschild and Sons (investment banking and advisory firm) were represented.
The chartered accountants regulator ICAI on Thursday said KMPG cannot audit Satyam's books, but the global auditor said it does not require to register with the regulator to restate the IT company's accounts.
A week after B Ramalinga Raju, the promoter of Satyam Computer Services, confessed to manipulating the accounts for several years, Price Waterhouse, external auditors of the Hyderabad-based software services firm, said its audit report should not be relied upon.
With India gearing up to host the Commonwealth Games next year, hoteliers in the country are rushing to make the most of the likely spurt in tourist traffic, leading to a boom in development, global consultancy firm Deloitte has said.
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.
Real Madrid remained the world's richest soccer club and English clubs were hit by the declining value of the pound, according to an annual survey by accountancy firm Deloitte released on Thursday. Manchester United and Barcelona held their respective second and third positions in the latest "Football Money League" report on the world's 20 biggest soccer clubs ranked by revenue.
English Premier League clubs spent a record 160 million pounds ($227.7 million) in the January transfer window, business advisory firm Deloitte said on Tuesday. Spending that defied the credit crunch was done mainly by Manchester City (more than 50 million pounds) and Tottenham Hotspur (45 million).
The empowered committee on GST headed by West Bengal finance minister Asim Dasgupta has agreed to a dual structure of the proposed indirect tax regime, which is likely to be introduced from April 2010. The new tax regime would do away with most of the indirect taxes levied at the Centre like excise and services tax, and VAT and Octroi at the State level.
From auto, refrigerator, and mobile handset makers to real estate firms, companies are tying up with banks to dole out attractive finance schemes and discounts to make buying more affordable.
The government is looking to plug loopholes in the Indian customs law provision that allows tax exemptions for gifts up to Rs 5,000 and trade samples up to Rs 10,000 sent to India from abroad.
According to a survey conducted by the Deloitte and Data Security Council of India, 37 per cent of wireless networks had no encryption at all, followed by 49 per cent using a lower-level protection like Wired Equivalent Privacy encryption and just 14 per cent using security layers like Wi-Fi Protected Areas (WPA and WPA2) to secure their networks.
"About 450 head office and support staff are being made redundant by Woolworths as the turmoil surrounding the stricken retail chain's future continues," the Guardian website said. Deloitte, which has been appointed as the administrator for the collapsed retail chain said that the job cuts would be in Woolworths' Central London and Rochdale offices and not in the 815 stores of Entertainment UK, its DVD and CD distribution business, The Times said.
Despite these successes, Railway Minister Prabhu has had his share of criticism.
Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank will ensure adequate liquidity in the system to ease the financial stress caused by the Covid-19 pandemic. The central bank reduced the reverse repo rate -- the rate at which banks park their fund with the central bank -- by 25 basis points to 3.75 per cent.
Ninety-nine companies, which also include some unlisted ones, have more than Rs 100 crore each of minimum alternate tax credit on their books, cumulatively adding up to Rs 75,000 crore. By utilising MAT credit, many companies will be able to bring down their effective tax cost.
'Our intentions were, and still are, to ensure the entire workforce is given as much protection as possible from redundancy and/or loss of earnings during this unprecedented period'
The total revenue earned by central government and state governments after regular settlement in December was Rs 43,851 crore for CGST and Rs 46,252 crore for SGST.
The domestic logistics industry, which is estimated to generate business worth $110 billion in the next two years, will need over 400,000 additional pair of hands in the next four to five years.
Transfers have broken a new record this summer, with around 500 million pounds being spent on new players by English Premier League clubs, according to a report from consultancy firm Deloitte. That was around 30 million pounds more than the same transfer window last year.
Finance Minister Nirmala Sitharama on Thursday stated the government is planning to provide a relief package of Rs 1.7 lakh crore to the underprivileged, poor and migrant workers affected by the lockdown amid the coronavirus outbreak. The scheme has been named the Pradhan Mantri Garib Kalyan Scheme.
It hopes to leverage the growing number of mobile transactions
Indian small and medium enterprises are expected to emerge as major buyers of the information technology products by 2008. According to Joydeep Datta Gupta, executive director of Deloitte & Touche Consulting, any IT-led SME business transformation project could succeed only if the project was sustained.
From 100% tax deductions for contributions to PM-CARES fund to extending the due date for linking Aadhar and PAN card, the government has provided various tax relief and extensions in deadlines for statutory compliances, says Homi Mistry.
According to the decision, such entities can now first operate through e-commerce and then open brick-and-mortar stores.
Despite a steady collection rate, the government faces a steep Budget target of Rs 6.1 trillion for CGST for 2019-20.
The Board of Control for Cricket in India, eagerly awaiting a response from the Justice Rajendra-Mal Lodha panel on the appointment of an independent auditor, may not get one by October 25 as the three-member committee is not likely to meet on Monday.
Politicians appeal to key groups of voters like farmers or the poor by keeping prices low and ignoring theft, prompting scepticism about whether states will agree to any package that forces tariff hikes.
All the 50 company CEOs, including the 17 companies headed by Indian Americans, were honored at a gala awards ceremony last month.
