Unauthorised sale of data to third parties will land developers in trouble.
India's huge digital prowess and potential will play a huge role in enabling digital lending, says Romita Majumdar.
Apart from easing the NPA pressure on domestic banks, the RBI's move can allow companies to raise cheap, long-term loans easily now.
Industry had sought this 3-month extension, specifically for players struggling to collate the information that are required to be disclosed in the GST forms.
Dividend distribution tax in FY20 would only be applicable after deducting Rs 70 received from the foreign subsidiary, meaning 20.56 per cent DDT would be paid only on Rs 30.
Experts said this will mean that companies, which have offices in multiple states, will have to raise Goods and Services Tax invoice for functions performed by employees in head office that has helped branches in other states.
Automobile dealers' body FADA said the Budget lacked immediate demand boosters for the automobile industry.
Know what terms like anti-profiteering, CGST, SGST, IGST means in the new regime
SHe-box deals with complaints from women employees in both public & private sectors.
Having grown swiftly since the acquisition of Flipkart by Walmart in 2018, it was looking at a valuation of $10 billion. However, factors such as lack of diversification, new e-commerce and data policies, as well as the overall investment environment, have slowed the process.
The income tax department estimates total collection to be between Rs 10.5 trillion and Rs 10.7 trillion against the revised target of Rs 11.7 trillion.
A robust dispute settlement system would help the government unlock tax revenues, and also aid ease of doing business.
The Central Board of Excise and Customs, through a notification on February 12, has slashed the duty on both the variants of motorcycles imported as completely build units (CBU) to 50 per cent.
In the last couple of months, the IT and BPO space has seen a big uptick in M&A activities, with companies merging with other entities to become bigger players.
Yoga guru Baba Ramdev's Patanjali Ayurved on Wednesday made its first big acquisition when it paid Rs 4,350 crore to take over soya food brand Nutrela-maker Ruchi Soya through an insolvency process. The acquisition will help Patanjali acquire edible oil plants as also soyabean oil brands such as Mahakosh and Ruchi Gold.
The first half of 2019-20 will be under pressure, since prices are expected to go up by Rs 7,000-8,000 at a time when sentiment is poor.
Common items between Centre and states - bread, eggs, milk, vegetables, cereals, books and salt - will continue to be exempted.
In this era of online commerce and virtual shopping, Raymond Ltd, one of India's oldest textile manufacturers and retailers, has tailor-made an offline strategy to maintain a strong foothold in the tier III and IV towns. Samreen Ahmad reports.
Days after the disbanding of Group Executive Council set up by Tata Sons ousted chairman Cyrus Mistry, N S Rajan and Nirmalya Kumar have resigned from their respective board positions at Indian Hotels Company and Tata Chemicals.
This will bring down capital gains especially in case of property transactions.
PE/VC investments touched a record $11.2 billion in the first half of 2017 against $8 billion in the same period in 2016
GST collections in March slipped below the psychological Rs 1 lakh crore-mark for the first time in four months to Rs 97,597 crore as the Covid-19 lockdown that shut most businesses compounded tax collection woes in an already sluggish economy. Goods and Services Tax (GST) mop-up in March recorded a 8.4 per cent decline over March 2019 collection of Rs 1.06 lakh crore. The collections were lower on account of dip in revenues from domestic transactions as well as imports.
Record equity divestment by the Reliance Group in its telecom and retail businesses garnering around $23 billion revved up the deal street in 2020, which otherwise would have gone down as one of the dullest on record, and dealmakers are seeing sunnier days in 2021 given the large scope for consolidation in a slew of sectors ravaged by the pandemic. With Jio Platforms alone garnering over $16 billion (Rs 1,18,318 crore) by selling 25.24 per cent stake and Reliance Retail notching up $6.4 billion (Rs 47,265 crore) by divesting around 9 per cent shareholding, the deal street signed off with $85 billion in the deal kitty across 1,270 transactions. This is higher by about 10 per cent over 2019. What is significant is that over a third of the total deal value came from Reliance transactions, say investment bankers.
Sources in the know said the government would initiate talks with businesses, including Tatas, shortly for divesting its stake in the national carrier.
The new system would be especially beneficial for Qualified Foreign Investors.
The revenue collection in the same month a year ago stood at Rs 94,442 crore.
Some companies are already seeking review of the new norms.
Lack of closure to the algo controversy could weigh on sentiment, say experts
Flipkart intends to use the funds for building and strengthening its technology capabilities, bolstering the robust supply chain and developing the talent pool.
While the farmers are not getting remunerative prices for their produce, at the same time they are forced to pay high prices for items they consume.
Will the warning shots from giants like Unilever and P&G break digital growth?
The new ITR forms have shifted the entire onus on the taxpayers to prove their claim for deductions, expenses or exemptions.
A panel will draft direct tax legislation, keeping in mind the system in other countries, international best practices and economic needs of the country
Ghost beneficiaries aren't the only kind of issue companies face during a period of unprecedented CSR spending, touching nearly Rs 12,000 crore in 2018-19. Frauds related to procurement, construction, and end-use of funds have had companies engaging forensic auditors to keep tabs on how money is spent, revealed conversations with those involved in such investigations. Firms are also increasingly strengthening their own capabilities to better implement their programmes.
The transaction is expected to close in the next 30 days and the merger process is expected to be completed in next 9-12 months
A large number of large and small businesses process EU data, have customers from the EU or have access to data of EU citizens in one way or another.
Investors say they see large companies going through the grind, as their promoters struggle with liquidity because they are levered up at the holding company level and are starting to get margin calls thanks to the crashes in the stock market, and in the next six months, the targets that will come up for PE companies will make for a harvest season like never before.
The move comes after Neeraj Kanwar's reappointment as managing director was rejected by minority shareholders owing to his salary, which increased in spite of a fall in the company's profitability.
Increase in surcharge will adversely impact fund managers planning to shift to India. As a matter of fact several fund professionals based in India could also relocate to other jurisdictions, resulting in a brain drain.
KPMG's global board will meet in India next week
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