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The Economic Times
The Economic Times Budget 2024: Tax practitioners' urge govt to rationalise personal income tax
Union Budget 2024: The All India Federation of Tax Practitioners (AIFTP) has called for a 10% exemption limit on personal income tax in the upcoming Union budget. The tax structure should be simplified to ease compliance. The AIFTP president also suggested eliminating the surcharge and cess, arguing that the government's failure to explain how the education cess is used is unjustified.
The Economic Times Consumer spending on mobile services dips sequentially in Q4
User spending on mobile services (post-GST) rose a modest 1.4% sequentially to about ?55,524.5 crore in the fourth quarter of FY24 - 44% lower than the 2.5% sequential growth clocked in the third quarter of FY24 - as per latest sector performance data issued by Telecom Regulatory Authority of India.
The Economic Times Uber, others seek clarity on GST after conflicting rulings
App-based mobility providers, including Uber, seek clarity on GST liability following conflicting rulings. Companies approach finance ministry, GST council, and AAR for resolution. Ambiguity in tax law for electronic commerce operators highlighted by industry experts. Urgent need for clarity to prevent market impact and legal disputes.
The Economic Times India should focus on semiconductor design, create its own brand: Lip-Bu Tan, Chairman Walden International
“The next step for India should be not to focus only on semiconductor fabrication, but to design and build its own products and create its own homegrown semiconductor brand,” said Tan, adding that he was “glad that the Indian government realised that semiconductors are so important as a foundation of any computing device.”
The Economic Times Raymond Lifestyle onboards top guns ahead of likely IPO
Raymond Lifestyle appointed Vineet Nayar, GC Chaturvedi, Anisha Motwani, and Dinesh Lal as directors. Gautam Singhania is likely MD, with Sunil Kataria on board. NCLT approved restructuring creates Raymond Lifestyle, Realty, and Raymond. Realty is developing Thane and Bandra projects, with substantial market potential. Focus on shareholder value, strategic governance, and leveraging cash flows for real estate and quality execution.
The Economic Times Banks to drive earnings growth as Nifty firms enter slow lane in Q1
Both net profit and revenues of Nifty 50 firms are seen in single digits in the June quarter as advantages of lower commodity prices and demand rise fade.
The Economic Times NBFC sector seeks more funds to improve liquidity, regulatory reforms from Budget
Ahead of the upcoming Union Budget scheduled to be presented on July 23, the Non-Banking Financial Company (NBFC) sector is expecting enhanced financial inclusion, and reinforcing digitalization efforts to sustain the sector's growth.
The Economic Times Bhushan Steel PMLA case: Court grants bail to former CFO Nittin Johri on health grounds
Delhi's Rouse Avenue Court has granted bail to Nittin Johri, an accused in Bhushan Steel Money Laundering case, on health grounds, observing that he falls in the category of sick and infirm persons.
The Economic Times Who is Shashi Kataria, the CA who joined crisis-hit Quant Mutual Fund as its new CFO?
Quant Mutual Fund appointed Shashi Kataria as CFO effective July 1, succeeding Harshal Patel who resigned in February, with his last day in May. Kataria joined on June 10. Kataria is a Commerce graduate from Mumbai University and a fellow member of Institute of Chartered Accountants of India (ICAI).
The Economic Times ICAI to set up Section 8 company for mediation, arbitration activities
The five existing Section 8 companies of the institute are ICAI ARF, XBRL India, IIIPI, ICAI RVO and ISAI.
The Economic Times Quant Mutual Fund clarifies CFO resigned in February before Sebi's raid
Quant Mutual Fund has issued a clarification saying that its CFO Harshal Patel had tendered his resignation on 19th February, 2024 and the last day of his service with the company was on 19th May, 2024. The fund house is facing a front-running probe by markets regulator Sebi.
The Economic Times Insolvency resolutions likely to clock a fresh record in FY25: IBBI chief
The Insolvency and Bankruptcy Code (IBC) is seeing a rise in resolved cases, with a focus on innovative approaches and transparency to improve recovery rates. Efforts to save firms from liquidation and address delays in resolution processes are being emphasized by regulators and industry experts.
The Economic Times Ahead of budget, US-India forum urges FM Sitharaman for stable & predictable tax environment
The US-India Strategic Partnership Forum (USISPF) has urged Union Finance Minister Nirmala Sitharaman to prioritize a stable and predictable tax environment in the upcoming Union Budget 2024-25. Emphasizing the need for measures that stimulate growth across sectors, the US-India Tax Forum, a part of USISPF, recommended enhancing ease of doing business, rationalizing business costs, and simplifying tax rates.
The Economic Times Congress pitches for 'billionaire tax'
The Congress party questioned Prime Minister Narendra Modi's position on a proposed 2% wealth tax on billionaires, a topic to be discussed at the upcoming G20 meeting. Congress general secretary Jairam Ramesh highlighted the potential revenue of ₹1.5 lakh crore annually from India's 167 billionaires, emphasizing the tax's potential to fund essential services.
The Economic Times 12.5 crore jobs created in last 10 years: Union Minister
Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Thursday that while 12.5 crore jobs have been created in the Indian economy during the last 10 years only 2.9 crore jobs were created in the 10 years before 2014.
