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Bids for the upcoming spectrum auction may not exceed Rs 80,000 crore due to stressed balance sheet of telecom operators and lack of ecosystem to encash premium airwaves in 700 Mhz band, an analysis by HSBC Global Research shows. “Our initial analysis suggests that total proceeds from spectrum auction are unlikely to exceed $10-12 billion […]
The government has amended income tax rules to end uncertainty over GAAR that is set to kick in from April 1, 2017. The amended Income tax rules issued yesterday clearly provide that GAAR rules will not apply to FIIs in respect of their income from transfer of investment made before April 1, 2017, clearly laying […]
Buoyed by a steady growth in collections from tax deducted at source (TDS), the Income Tax department now plans to undertake multiple steps to “augment” revenue from this category and minimise tax avoidance. The department plans to undertake meetings with various stakeholders like company deductors and chartered accountants to ensure that due taxes under this […]
The government has announced a Rs6,000-crore package for the textiles and apparels sector to help it wrest a bigger share of the global market. The package also provides the sector more flexible labour laws and financial incentives. It hopes the package will create one crore new jobs in three years, attract Rs74,000 crore in investment […]
At a time when the government has put a huge diplomatic effort abroad, led by the Prime Minister himself, to get NSG membership, the citizens have given the thumbs up to the country’s foreign policy under Narendra Modi. The highest ratings in a government online survey on the occasion of the second anniversary of the […]
The Income Tax department today published a country-wide list of registered asset valuers for those who wish to declare their untaxed funds and properties under the one-time domestic black money compliance window that opened this month. The exhaustive list, uploaded on the official web portal of the department, includes valuers of immovable property, jewellery, plant […]
The S&P BSE Sensex plunged over 1,000 points in trade on Friday as EU referendum decisively favours ‘leave’ campaign. The fall in the index was led by losses in Tata Motors, ICICI Bank, Infosys, HDFC, HDFC Bank. The Nifty50 slipped below its crucial support level of 8000 weighed down by losses in realty, power, metal, […]
Voters have voted in favor of Brexit: British exit from the European Union. That means that in the coming months, British and European leaders will begin negotiating the terms of Britain’s departure. Britain’s exit will affect the British economy, immigration policy, and lots more. It will take years for the full consequences to become clear. […]
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