Metropolis Healthcare (MHL) has decided to acquire a 100 per cent stake in Gurgaon-based Core Diagnostics for Rs 247 crore. This is about 2.2x FY24 (financial year 2023-24) enterprise value (EV)/sales and estimated 14x FY26 EV/Ebitda for the deal.
India's second largest IT services company Infosys has been slapped with a 'pre-show cause' notice for alleged GST evasion to the tune of about Rs 32,403 crore. In a BSE filing, the Bengaluru headquartered IT firm said Karnataka State GST authorities have issued a pre-show cause notice for payment of GST of Rs 32,403 crores for the period July 2017 to March 2022, towards the expenses incurred by overseas branch offices of Infosys Ltd, and added that the company has responded to the pre-show cause notice.
Surplus liquidity in the banking system as measured by absorption of excess funds by the Reserve Bank of India (RBI) fell sharply at the end of the last week due to outflows on account of advance tax payments. According to the RBI data, the net liquidity absorbed by the central bank on September 16 was at Rs 3,243.57 crore, much lower than the average of Rs 56,809.92 crore in the preceding four days of the week. The average absorption of funds by the RBI so far in September is at Rs 1.13 trillion, against the average of Rs 1.2 trillion in the previous month, the data showed.
Highlights of the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman in Lok Sabha on Tuesday.
Income Tax department has introduced a new facility this financial year 2009-10 (AY 2010-11) for viewing your tax payments made it is called 'Tax Credit Statement' or PAN LEDGER or Form 26AS.
The platform recorded a peak rate of 917 filings per second on July 17 and 9,367 filings per minute on July 31.
India Inc seems to be leveraging well on the country's growth story and is poised to post better earnings if the corporate advance tax payments made in the December quarter are any indication.
Pay healthy advance tax, but can't make up for large companies' volumes.
Online food delivery aggregator Zomato on Wednesday said it has received a GST demand order along with interest and penalty amounting to Rs 17.7 crore from the Assistant Commissioner of Revenue, West Bengal. The demand order, received by the company on Tuesday, is with respect to non- payment of GST on delivery charges and interest, penalty thereon.
India may soon have a database for international transactions, particularly those routed through nations with which New Delhi has tax avoidance pacts, to check non-payment of taxes, if a proposal by a government panel has its way.
Disfavouring 'blunt' steps like search and seizures, Finance Minister P Chidambaram on Wednesday invited 582 top corporates to avail a single-window tax payment facility
Finance Minister Nirmala Sitharaman also said that the government proposes to increase the benefit of carrying forward losses for startups to 10 years.
Did you know that an individual can, in addition to the tax benefits she/he is entitled to, also leverage the benefits available to family members to reduce this liability?
President Droupadi Murmu addressed both Houses of Parliament, highlighting the government's achievements in various sectors, including economic growth, social welfare, and infrastructure development. She emphasized the government's efforts to lift the economy out of "policy paralysis" and create a more inclusive society. Murmu also acknowledged the challenges posed by digital fraud and cybercrime and stressed the need for a social infrastructure revolution. The President's speech is considered a policy statement, outlining the government's vision and roadmap for the future.
Satyam Computer Services Ltd (rebranded as Mahindra Satyam to reflect its new ownership by Tech Mahindra) has filed a fresh lawsuit in a New York court, challenging the tax payment claims made by mobile payment services company Upaid Systems.
Jose Mourinho's agent says the Manchester United manager paid more than 26 million euros (USD 27 million) in taxes when he lived in Spain from 2010-13.
A positive list for taxation of services might be back, though only for accounting purposes.
It is advisable to file your ITR right away and not rely on potential extensions.
Using credit or debit cards abroad can prove costly.
'Credit card debt comes with high interest cost and stringent penalties.' 'If you do not repay on time, the costs balloon.'
"Since December last year, we started focusing on TDS and regular assessment to increase tax collections, and it has paid off," said a senior revenue department official. According to the latest data, TDS collections increased by 25 per cent to Rs 1,304.56 billion in fiscal 2009, compared to Rs 1,046.95 billion in the previous fiscal. However, advance tax collections under two major heads -- corporation tax and income tax -- dipped by 7 per cent to around Rs 1,680 billion.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
In a relief for foreign firms giving loans to Indian subsidiaries, tax authorities have said goods and services tax (GST) will not be imposed on them, subject to some caveats. Additional fees, commissions, or related payments - over and above the amount charged as interest - on these loans will attract GST at 18 per cent, the Central Board of Indirect Taxes and Customs (CBIC) has said.
Rediff.com, one of India's pioneering internet companies, on Tuesday announced the appointment of Mr Vishal Mehta as its new Chairman and Managing Director. This key leadership change follows Infibeam Avenues Ltd's acquisition of a majority stake in Rediff.com.
The finance ministry is considering meeting a key demand of truckers by easing procedural issues and raising the abatement on service tax.
The Centre may overshoot the Rs 56,260 crore target for dividend receipts from central public-sector enterprises (CPSEs) set for FY25 and is likely to end up getting around Rs 65,000 crore this financial year, according to a senior government official. This excludes dividend from nationalised banks and financial institutions. As on October 21, the Centre collected Rs 28,913 crore as dividend and other investment from CPSEs, accounting for over 50 per cent of the Budget Estimate for FY25.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The government on Monday clarified that transactions involving royalty/ technical services fee would be taxable under income-tax and not be liable for equalisation levy that is paid by foreign companies for conducting business with Indian parties, while explaining what would construe online sale of goods or services.
The preliminary processing of tax returns is already undertaken with the help of technology. There is now greater scope of using more technology to reduce the human interface even further, notes A K Bhattacharya.
'They take care of the problem: How can I ensure my child's education and other goals are not compromised, even if I am not around?'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Moody's Ratings on Tuesday projected general government debt to stabilise above 80 per cent of GDP over the next three years, down from 89.3 per cent in 2020-21. "General government interest payments to fall to around 24 per cent of general government revenue over the next two years from over 28 per cent in fiscal 2020-21, although this remains much higher than the median 8.7 per cent recorded by Baa-rated peers," Moody's Ratings associate managing director Gene Fang said in a post-Budget reaction.
As many as 54 professionals will be shortlisted for the SEBI Young Professional Programme.
The road ahead will require navigating complex financial challenges while fostering job creation and sustainable development in the region.
A total of Rs 396 crore has been mopped up, as on August 20 against Rs 407 crore collected in the same period last year. This was despite the expansion of the levy to online e-commerce players from this financial year.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The Delhi high court has granted bail to Hari Om Rai, the former MD of Lava International mobile company, in a money laundering case involving smartphone-maker Vivo. Justice Manoj Kumar Ohri granted relief to the ex-Lava official, who was in custody since his arrest by the Enforcement Directorate (ED) in October last year.
In underlining the role of border villages as custodians of India's frontiers, New Delhi is following China's example in Tibet.
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