1 lakh deregistered companies to face more heat
NEW DELHI: The government is launching a multi-pronged offensive against one lakhcompanies that have been de-registered+ , including action against those for violating taxation and money-laundering laws as well as choking their access to banking. A day after Prime Minister Narendra Modi’s announcement that the ministry of corporate affairs (MCA) had struck off names of these companies, […]
GST rollout in India: Biggest tax reform formally launched by PM Modi, President Mukherjee
Goods and Services Tax (GST), the biggest fiscal reform India has seen since Independence, was formally launched by Prime Minister Narendra Modi, and President Mukherjee on Saturday. Speaking at the launch ceremony at the Central Hall in Parliament, President Mukherjee said, “It is remarkable that 18 meetings held so far, all decisions have been taken by […]
ISRO’s PSLV-C38 successfully vaults Cartosat-2 Series, 30 other satellites into orbit
In yet another masterful demonstration of its space prowess, the Indian Space Research Organisation (ISRO) on Friday successfully launched its workhorse rocket PSLV-C38 from Sriharikota carrying the Cartosat-2 series satellite for earth observation along with 30 co-passenger satellites. Weighing 712 kg, Cartosat-2 series satellite has been specifically designed for the benefit of the defence forces. The latest […]
Trump approves $2B sale of drones to India ahead of meeting
WASHINGTON (AP) — The Trump administration has authorized the sale of unarmed surveillance drones to India, the manufacturer said Friday, as the two nations’ leaders prepare for their first face-to-face meeting. India initiated its request to buy 22 Guardian MQ-9B unmanned aircraft for maritime surveillance last year. The deal is estimated to be worth about […]
Air India sale offers tickets starting at Rs 706
Jumping on to the monsoon sale bandwagon, national carrier Air India is offering fares starting Rs 706 (all inclusive). The sale called “Saavan Special 2017 Sale” is on till Wednesday June 21. The promotional offer is applicable for travel between July 1, 2017 to September 20. As is the norm with these sales, limited seats […]
From 11% to 2.2%, five factors explain vanishing India inflation
Four years ago Indian inflation was running at more than 11%. Now it’s melted to a record low 2.2%, below Mexico, Turkey and the UK, as the central bank’s battle against price pressures gains traction. The slide has prompted the Reserve Bank of India, led by Urjit Patel, to slash its inflation forecasts and led […]
GST set for June 30 midnight launch at special Parliament session
The Goods and Services Tax (GST) is set for a big launch on the midnight of June 30 at a function inside the Parliament’s Central Hall. President Pranab Mukherjee, Vice-President Hamid Ansari, Prime Minister Narendra Modi, Speaker Sumitra Mahajan and former prime ministers Manmohan Singh and H D Deve Gowda will be among those present […]
Govt said to be planning policy revamp for $19 billion gold jewellery industry
India, which vies with China as the top consumer of bullion, is working on new policies to improve transparency and help expand its $19 billion gold jewellery industry, according to people with knowledge of the matter. The plans being worked out by the finance and commerce ministries along with industry groups should be finalized by […]
Indians have ‘rather few’ deposits: Swiss banks
NEW DELHI: Indians have “few deposits” in Swiss banks compared to other global financial hubs like Singapore and Hong Kong, says a grouping of private bankers in Switzerland amid stepped-up efforts to check the black money+ menace. Money held by Indians in Swiss banks declined to a record low of 1.2 billion franc (about Rs […]
RIL, BP to infuse Rs 40,000 crore in Krishna-Godavari D6 block
After a gap of seven years, Reliance Industries and its partner BP on Thursday pledged to infuse Rs 40,000 crore in the deepwater gas fields of the Krishna-Godavari (KG) D6 block on the country’s east coast. The investments will be over the next three to five years. The renewed agreement between the two companies will […]
Vijay Mallya booed with ‘chor, chor’ chants during India-South Africa match
LONDON: Fugitive businessman Vijay Mallya was on Sunday heckled by cricket fans who chanted “chor, chor” (thief, thief) as he arrived to watch the India vs South Africa Champions Trophy match at The Oval+ cricket ground here. The 61-year-old chief of the now-defunct Kingfisher Airlines, who has been living in self-imposed exile in Britain+ since […]
GST Council slashes tax rates for 66 items: Arun Jaitley
With the Goods and Services Tax (GST) set for a July roll-out, Union Finance Minister Arun Jaitley on Sunday said the GST Council has reduced tax rates of 66 items as against representations received for 133 items. “…133 representations have been received by the GST Council. An officers committee made recommendations after studying these representations…The […]
Maruti overtakes Infosys, ONGC to become India’s 8th most valued firm
With a 3 per cent surge in its share prices on Friday, auto major Maruti Suzuki India overtook IT-bellwether Infosys and upstream oil company ONGC to become the eighth most valued firm in India. Over the last three years, the company’s market capitalisation — at Rs 2,25,079 crore — has jumped nearly four times from […]
$1-trillion digital economy by 2022: Govt to discuss roadmap with IT leaders
The information technology (IT) industry, which is reeling under pressures from key Western markets, will have a formal meeting with the Centre to discuss various problems that have reportedly resulted in job losses across the sector, a senior government official said. In separate letters to top IT officials, Ministry of Electronics and Information Technology’s additional […]
Successful demonetisation will help raise revenue in the long run: World Bank
NEW DELHI: Successful demonetisation will help in raising revenues on sustained basis as more and more people will come under the tax net, says a World Bank report. During 2016-17, India generated additional tax revenues as unreported cash identified both through the amnesty scheme and demonetisation were brought under the tax net. Gross tax revenue, […]
Khadi yarn, Gandhi topi, national flag exempt from GST
NEW DELHI: Khadi yarn, Gandhi topi, India’s national flag will not attract any tax under the GSTregime, while imitation jewellery, pearls and coins will carry 3 per cent levy from the next month. Besides, the GST Council on Saturday decided to include rudraksh, wooden khadau, panchamrit, tulsi-kanthi mala, panchgavya, sacred thread and vibhuti sold by […]
Chinese market opening up for Indian IT firms amid losses in US
BEIJING: Even as Indian IT firms have begin to suffer setbacks in the US market, a new opportunity is opening up in China, which is keen to invite them to participate in the big data sector. This was evident to a delegation comprising executives of 10 Indian IT companies, who went about scouting for business […]
Tax officers can issue certificates to avoid taking TDS from NRIs
I am a non-resident India (NRI) and I have a property in India. I am planning to sell the property as I am planning to buy a higher-value property. Will I have to pay Tax Deducted at Source (TDS)? Can I apply for nil TDS certificate? What do I need to do? Kindly explain.—Rajant Taxability […]
British Airways boss not to resign, denies IT failure due to outsourcing to India
LONDON: The embattled chief executive of the British Airways Alex Cruz on Monday ruled out resigning over the crippling flight disruption and maintained that the computer glitch had nothing to do with cutting costs or outsourcing IT services to India. Cruz said a power surge, had “only lasted a few minutes”, but the back-up system of […]
10 standout start-ups taking an AI leap in India
The rise of a technology has Bill Gates issuing warnings of an apocalypse. Elon Musk, too. Even Stephen Hawking. What’s worrying these technologists? It’s Artificial Intelligence or AI, an idea whose time has come—it is incubating in science labs and being deployed by start-ups and industrial units alike. Click here to read more… Credit: www.livemint.com
