The bill to nullify retrospective taxation offers a fair solution within the framework of Indian law and Parliamentary sovereignty to companies which have been subjected to such demands, Finance Secretary T V Somanathan said on Thursday. Finance Minister Nirmala Sitharaman introduced 'The Taxation Laws (Amendment) Bill, 2021' in the Lok Sabha that seeks to withdraw tax demands made using a 2012 retrospective legislation to tax the indirect transfer of Indian assets. The Bill provides for the withdrawal of tax demand made on "indirect transfer of Indian assets if the transaction was undertaken before May 28, 2012 (i.e. the day the retrospective tax legislation came into being)."
Tax experts said that in FY17 around 80,000 people had reported incomes of over Rs 1 crore
India Inc needs to tighten norms against sexual harassment at work.
Axis Bank recently informed the Reserve Bank of India that it had experienced a cyber attack, while the State Bank of India said it was re-issuing over 600,000 debit cards because of a potential security breach.
Although the June collections were higher than that in July, however, it is important to note that during the previous month, a large number of taxpayers also paid taxes pertaining to February, March and April 2020 on account of the relief provided due to COVID-19.
The market buzz is that the GoAir promoters are hoping for a valuation that is at least a little more than double its closest rival SpiceJet.
A slew of Indian firms, including Flipkart, Byju's and Zomato, is building a path to profitability and diversifying into newer business segments ahead of mega-IPO plans.
The high court's order, which says refunds paid on service inputs can be restricted, runs contrary to Gujarat HC verdict and could complicate matters.
'This is a blip in the 100-year history of cinema.'
Everyday consumerables, such as grocery and order-in food items are the key buyout sector, analysts say, and a major reason for kirana stores' digitisation push.
The central bank's tough new rules spell major changes in the competitive landscape for financial services audits.
The government is planning to liberalise the terms and conditions for the sale of the national carrier. The Centre is still pursuing the option of selling the airline's subsidiaries before the airline itself, in order to deal with an outstanding debt of around Rs 27,000 crore.
With the amendment, firms like EY and Deloitte can work as resolution professionals instead of only their partners enrolling as insolvency professionals.
$47.6 bn capital invested across 921 deals in India in 2020, despite pandemic.
For deciding which vehicles are to be scrapped, the setting up of fitness centres and regulating them would be a humongous task.
The data primarily pertains to activities in March, which had only a few days under the Covid-19 lockdown. For April , hence, CGST collections could be much lower, fear analysts.
India had an Internet user base of 243 million in 2014, of which 35 million were online shoppers.
Raja Sen reviews Vishal Bhardwaj's Haider trailr starring Shahid Kapoor, Shraddha Kapoor, Irrfan, Tabu, Kak Kay Menon.
To help revive the economy battered by COVID-19, Finance Minister Nirmala Sitharaman on Monday announced a slew of measures, including Rs 1.1 lakh crore credit guarantee scheme for improving health infrastructure, and enhancing the limit under the ECLGS by 50 per cent to Rs 4.5 lakh crore for the MSME sector facing liquidity crunch. Sharing the details of stimulus package, the finance minister said this comprises eight relief measures and other eight measures to support the economic growth. She announced Rs 1.1 lakh crore loan guarantee scheme for COVID-affected sectors, including health sector, which includes guarantee cover for expansion or for new projects. Besides, she said, additional Rs 1.5 lakh crore limit enhancement done for Emergency Credit Line Guarantee Scheme (ECLGS) scheme.
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.
Irrespective of demonetisation and GST blues, IIM Lucknow has been able to successfully place their batch of 459 students.
The phase-wise transition of iD Fresh products into organic items has started and will include flagship offerings such as idli and dosa batter and Malabar parotta.
But he is actively pursuing greenfield steel plants in Karnataka and Jharkhand; ultimately, only one of these might come up.
This is a third of Rs 33,992 crore debt that was to be passed on to the new owner during last year's failed divestment process.
The immediate concern for all companies is to prepare themselves - and their vendors and suppliers - for the new GST return filing mechanism, being test piloted from April 1.
All major sectors -- real estate, e-commerce, IT, retail and consumer products, healthcare -- saw new all-time highs in value invested.
A mentor doesn't have to be someone more senior than you, but that isn't the case with a sponsor.
Go through the options and cast your vote in favour of the candidate who, according to you, will be capable of reversing the fortunes of the beleaguered Congress party.
India's shift towards US companies for technology investments and partnerships fits well with the present government's 'Atmanirbhar Bharat' and 'Make in India' initiatives, say experts.
Air India owns 32 aircraft, and has 37 aircraft on finance lease; Air India Express owns 17 aircraft on finance lease. The aircraft-related debt of Air India is Rs 16,000 crore; it's Rs 1,100 crore for Air India Express.
The e-invoicing system will be rolled out in a phased manner from January 1 on a voluntary and trial basis, beginning with firms with a turnover of Rs 500 crore, while businesses with a turnover of Rs 100 crore or more will be required to do it from February 1.
RBI had on February 12, 2018 issued a circular saying that lenders have to provide for resolution plan within 180 days in case of large account of Rs 2,000 crore and above.
Fraud is a big concern among many board members.
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.
Despite the gains from Jet's closure, in 2018 and 2019, the airline continued to make losses in many quarters for a variety of reasons, including some mistakes like taking on Jet's aircraft, which were not in great shape and had business class configuration, a gamble that did not work for SpiceJet.
This may mean easier access, simplified KYC and documentation requirements, and fewer investment restrictions for a majority of FPIs, especially broad-based funds and pooled vehicles that were earlier part of Category-II.
Instead of making the sellers bleed, experts say, e-commerce giants Amazon and Flipkart have roped in banks to offer discounts to buyers.
The mop-up could have been much higher, but tax on imports fell 2 per cent y-o-y.
'Since the government will not hold any significant stake in the airline this time, such restrictions are not required anymore.'
Among other segments, home broadband subscriptions have picked up and the virtual private network service, too, increased by around 15 per cent.
