Besides urging the Centre for extension of loan moratorium, the hotel and travel industries have also demanded deferment of GST and advance tax payments and waiver of fees for all forthcoming licences and permits.
The scheme is the biggest fiscal component of the Rs 20-lakh crore Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman last month.
The deduction will be higher and net take-home pay will fall.
While it is not clear whether the new form will be applicable from this year, some chartered accountants say that things can go both ways. The new deadline for filing ITR is November 30.
The one-time restructuring of loans will help every firm and prevent cost-cutting measures such as lay-offs.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Use of the incorrect form will result in your return being treated as defective, points out Suresh Surana, founder, RSM India.
Indian IT workers accounted for nearly 90 per cent of visas issued under the intra-company transfer route
Casual labour, which is the type of employment provided by agriculture, yields much lower wages -- of the order of Rs 291 per day. Labour would not voluntarily shift to this lowest wage-rate sector unless it had no better option, observes Mahesh Vyas.
Mercedes-Benz India, BMW India and Audi India have lined up over 50 new model launches as they seek to recoup previous year's loss in volumes, reports Shally Seth Mohile.
Mobile operators with the exception of Reliance Jio are in a much worse financial condition than expected earlier. The combined borrowing of the four incumbent operators - Bharti Airtel, Vodafone Idea, Bharat Sanchar Nigam (BSNL), and Mahanagar Telephone Nigam (MTNL) - reached an all-time high of Rs 3.85 trillion at the end of March this year. The companies' combined debt was up 22.4 per cent year-on-year last financial year against 8.3 per cent growth in their borrowing in the previous year. As a result, the incumbent operators' debt-equity ratio shot up to an unsustainably high level of 6.83X at the end of March this year from 2.3X at the end of March 2020. This was largely due to big losses reported by all these companies last financial year. The four incumbent operators racked up combined net losses of Rs 70,000 crore in FY21.
The state is now under pressure to revise the salaries of its 800,000 employees, which would add to the strain of an already debt-laden state exchequer.
Suitors for Punjab and Maharashtra Co-operative Bank (PMC Bank) may have to infuse additional capital of nearly Rs 750 crore so that the payout per depositor is more than the Rs 5 lakh sum assured by the Deposit Insurance and Credit Guarantee Corporation (DICGC). The Reserve Bank of India (RBI) has also slotted its board meeting on March 19 in Mumbai - a fortnight short of the current deadline to find a resolution for the beleaguered bank and the moratorium placed on it comes to an end. Sources close to the PMC Bank transaction said that the central bank wants the suitors "to go the extra mile so that depositors can get more than the Rs 5 lakh insured by the DICGC". This is also to ensure that the new owners of the bank - who are to be issued a small finance bank (SFB) licence - are serious and have deep pockets.
The candidates will be selected through a National Qualifier Test. The top 1,000 will be offered a much higher salary -- almost double of that being offered to peers.
Threats were often communicated to Pandit homes through notes tied to stones chucked through a window, or a notice pasted on a wall. Those sometimes came from neighbours eyeing that Pandit family's property. Those threats often worked in the atmosphere of terror during that awful season of vacuous exercise of State authority, writes David Devadas, longtime Kashmir watcher and author of two books on the Valley.
Use a combination of the two options without which sufficient corpus can't be assured.
Militant labour policies compounded a poor security environment for capital in West Bengal and encouraged the business community to relocate. constraining the private sector's right to hire freely could well be the coup de grace. As with Calcutta/Kolkata, it will probably take a decade for Gurgaon/Gurugram to feel the difference, says Kanika Datta.
Under Section 80D, you can avail of deduction on payment made towards preventive health check-ups.
Employers will also have the option to pay wages in cash.
Excluding the pension outgo, the allocation in the Union Budget for the armed forces stands at Rs 3.62 lakh crore.
In March 2020, soon after the cessation of airline operations globally and domestic flights within India, many in the aviation sector had written Delhi-headquartered low-fare airline SpiceJet's obituary well before that of most of its rivals. Unlike IndiGo, GoAir (now rechristened Go First), Vistara and even AirAsia India, SpiceJet did not have founders or backers with deep pockets. Although it is the only other listed carrier in India besides IndiGo, it was considered the weakest and the least likely to survive the pandemic. But chairman and managing director Ajay Singh surprised everyone by not only surviving but taking the lead on many fronts. Within a few weeks of the scheduled flight stoppage, SpiceJet was doing as many charter flights as it could get hold of.
How the Aadhar card would be linked to income tax return is yet not clear
Employment fell by 2.5 million in February, 0.1 million in March, 7.4 million in April and then by 15.3 million in May, explains Mahesh Vyas.
Experts expect a net loss of Rs 26.7 billion for IndiGo and Rs 10.1 billion for SpiceJet in Q1FY21 driven by low traffic volume, low fleet utilisation and poor coverage of fixed costs.
Here are some of the common mistakes that most home buyers make when it comes to home loans and how to avoid them.
Being made a member of the Cabinet Committee on Political Affairs makes her an important player in BJP politics, observes Rashme Sehgal.
Here's how EPF stacks against other investment options
The decline is attributed to lower salary growth and a rise in households' financial liabilities.
However, the remuneration of Puri and Kochhar are not strictly comparable as the two banks follow different accounting practices.
If losses from F&O, intra-day trades are below Rs 20,000-30,000, it's best not to claim them and opt for ITR-2.
The French taxman is delighted about the prospect of Brazilian soccer star Neymar joining Paris St Germain, the minister in charge of France's public accounts said on Thursday.
India's top IT companies have shown a hiatus between their performance on the bourses in the pandemic period and earnings growth. The combined market cap of the top five IT companies - Tata Consultancy Services, Infosys, Wipro, HCL Technologies, and Tech Mahindra - is up 87 per cent since the end of March 2020. In comparison, the benchmark BSE Sensex is up 68 per cent during the period. So the industry beat the broader market by a big margin in the last one year.
In an indication of easing financial stress among borrowers, the number of unsuccessful auto-debit requests through the National Automated Clearing House (NACH) platform declined in July, reversing a three-month trend that started with the second wave of the Covid-19 pandemic. According to the NACH data, of the 86.4-million transactions initiated in July, 33.23 per cent, or 28.7 million transactions, failed, while 57.7 million were successful. Compared to June, this is a significant improvement in bounce rates.
AI also working on proposal to trim pilots' pay 15-20%
At the recently concluded Dubai airshow, Akasa, Rakesh Radheyshyam Jhunjhunwala's new airline, signed a $9 billion deal with American aircraft maker Boeing to buy its 737 MAX planes and a $4 billion one for engines with CFM, a joint venture between GE of the US and Safran of France. Unlike his financial doppelganger Warren Buffett, who divested billions from his airline stock portfolio at the start of the pandemic, Jhunjhunwala is wagering his billions in a brand new airline. The legendary investor bought a roughly 40 per cent stake in SNV Aviation in September, Akasa's holding company, started in March by three former Jet Airways colleagues. With aviation still to recover from its pandemic slump, the big question around his foray into domestic aviation, due to take off in summer 2022, is whether it is another pie in the sky.
Congress president Sonia Gandhi on Tuesday wrote to Prime Minister Narendra Modi suggesting five measures to conserve money for the fight against COVID-19, including a complete ban on media advertisements by government and PSUs for two years and suspending the Central Vista beautification project.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The NFL's Cowboys, who unseated Spanish soccer club Real Madrid for top spot on the list in 2016, were valued at $5 billion, a 4% rise when compared to last year, Forbes said in a statement.
Justice Manmohan Singh ordered the grounded carrier to pay Rs 28,95,000 to its former pilot, Captain Dinesh Kant Sharma, on his plea seeking payment of his salary for the notice period of five months.
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