Individuals and entities, whose accounts are not required to be audited, were mandated to file I-T returns by July 31.
Tuesday's bridge collapse once again puts the spotlight on the city's urban infrastructure and a dire need for its development.
A committee on digitalisation headed by Andhra Pradesh Chief Minister Chandrababu Naidu had in an interim report recommended taxing cash transactions of at least Rs 50,000 to promote digital payments.
More companies with unconventional business models to get into messy legal hassles in India.
Pandemic-hit auto majors are likely to set aside these time-tested strategies for now, and, instead, focus on attractive finance schemes and an enhanced digital experience.
For Hero MotoCorp, India's largest two-wheeler company, it's a calculated gambit to revive Harley-Davidson whose ride in India has been anything but easy since it got here.When automotive firms embark on alliances, it's a roll of the dice on how such marriages will play out.
Was Kerkar duped by his employees, as he claims, or did a cocktail of greed, poor cost control and bad management bring the travel firm down, wonder Pavan Lall and Aneesh Phadnis.
Jaitley has announced increasing the super-rich surcharge to 12%.
The mop-up could have been much higher, but tax on imports fell 2 per cent y-o-y.
Tech start-ups will continue to take the lead in bolstering the regional economy, says Murali Talasila.
Currently, Deloitte, EY and KPMG with their associates work as statutory auditors of most of the top league domestic IT services firms. Owing to many alleged auditing lapses, the regulators have either imposed restrictions on the audit firms or are seeking to do so.
The online channel has only been successful in making inroads in metro cities.
Physical format stores are here to stay.
A panel will draft direct tax legislation, keeping in mind the system in other countries, international best practices and economic needs of the country
The Budget has relaxed a few safe harbour rules that aim to make it easier for fund managers overseeing offshore India-focused funds to relocate to the country.
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.
The theory that all banned notes will come back into the system may not be true. Anup Roy finds out.
The Supreme Court will decide whether a non-resident company is liable to pay advance tax on fee charged by it for providing services in India.
The film is set to release next Friday, June 17, but the makers of Udta Punjab are busy fighting the censor board.
Internet giant Google is the most attractive employer for graduates from the Asia-Pacific region in a list of top companies which figures no Indian firm.
In a major relief to stressed assets, the Cabinet approved the proposed IBC amendment that the licences, permits, concessions, and clearances for a corporate debtor cannot be terminated or suspended or not renewed during the moratorium period. The Cabinet also allowed amending the code to streamline the corporate insolvency resolution process and protect last-mile funding to boost investment in financially distressed sectors.
Alibaba in talks to invest up to $700 million in Snapdeal
Things appear to be going from bad to worse for Vijay Mallya, once known as 'King of Good Times', with the board of a company he nurtured into India's largest liquor maker asking him to quit.
'These firms do not contravene provisions of Chartered Accountants Act, 1949, which bar members of the countries not allowing Indians to practice accountancy in their jurisdiction to become chartered accountants in India,' said the committee, headed by Anurag Agarwal, a joint secretary in the ministry of corporate affairs, and such Indian audit firms cannot be equated with multi-national corporations.
Prices of two-wheelers, passenger and commercial vehicles are set to rise 15-25%
Does a doctor need to pay GST and other queries...
As corporate India gears up to be GST-ready, the ongoing litigation and tax dispute cases are something most businesses are cagey about.
Singapore is slated to bring in Singapore Variable Capital Company, a new legal entity which can be used as a vehicle for investment. SVACC is expected to simplify the process of redemption for open-ended funds.
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.
India and Singapore had in 2013 amended the DTAA to help exchange banking and tax-related information more effectively.
Bankers said the SC verdict might prolong the resolution process and force lenders to bring back cases to the drawing board.
Abhishek Singhania left a career at PwC to work in a food security project as a research fellow.
Proposals from the Centre's side include raising the 5 per cent slab to anywhere between 6 and 8 per cent, and doing away with the 12 per cent slab. A few states may oppose such a move because it involves hiking tax on items consumed by the poor. They have instead proposed raising the 18 per cent slab.
Thirty-eight per cent of CEOs say the US is among their top three overseas growth markets, compared with 34 per cent for China, 19 per cent for Germany, 11 per cent for the UK and 10 per cent for Brazil.
Interoperability with other insurance companies - apart from banks, medical centres, among others - would be the eventual goal
However, economic growth in five years of the UPA and NDA cannot be compared because of the now complex back series data, reports Indivjal Dhasmana.
The central government wants to impose the levy; many states are opposed - at least, to the Centre doing so
Restricting the input credit is not a good idea for any sector, particularly real estate which requires more formalisation.
