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The Economic Times
The Economic Times ITC chairman's net remuneration in FY24 grew 80%, executive directors also got more
ITC chairman and managing director Sanjiv Puri's net remuneration in FY24 jumped 80% to ₹13.11 crore (₹7.28 crore in FY23), while his gross remuneration was ₹28.6 crore. Puri's gross payout by way of performance bonus, long term incentives and commission went up from ₹12.86 crore in FY23 to ₹21.48 crore last fiscal.
The Economic Times MNCs in India fret as US yet to ratify global tax deal
Tax experts say the international tax treaty, which Republicans strongly oppose and requires a two-thirds majority in the US Senate to pass, faces significant challenges. Without US ratification, meeting the OECD tax deal's implementation conditions to reshape the global tax system becomes extremely difficult. The international tax treaty's implementation needs acceptance by 30 jurisdictions and the inclusion of the headquarters jurisdictions of at least 60% of the most profitable multinationals; given that many of these businesses are located in the United States, US participation is critical to attaining this level.
The Economic Times Outlay for export tax remission plans unlikely to change in Budget
The government is unlikely to increase the allocation for key tax remission schemes for exporters in the 2024-25 budget, despite demands for more support. In the interim budget, ₹16,575 crore was earmarked for the RoDTEP scheme and ₹9,246 crore for the RoSCTL scheme. Exporters argue for adequate allocation to maintain zero-rated exports, a government policy, as merchandise exports rose 5.1% year-on-year in the first two months of this fiscal.
The Economic Times ITC packs a punch, beats Britannia in foods business
ITC's foods business posted consolidated sales of Rs 17,194.5 crore for the fiscal year ended March 31, 2024, the company that owns brands such as Aashirvaad atta, Bingo potato chips and Sunfeast biscuits in the segment said in its latest annual report. This comprised both domestic sales and exports.
The Economic Times Banks told to stay vigilant amid intel on cyberattack threat
Apart from continuously checking network activities and server logs to detect malicious intrusions, banks will have to monitor critical payment systems such as SWIFT (the messaging system to confirm cross-border fund transfers), card network (which facilitates card payments), the online local fund transfer frameworks RTGS, NEFT and UPI, the real-time payment system.
The Economic Times 76% of companies improved their cyber defenses to qualify for cyber insurance, Sophos Survey finds
Sophos' report on Cyber Insurance and Cyber Defenses underscores the importance of comprehensive defense strategies beyond insurance coverage, with global insights and sector-specific data to guide effective risk mitigation.
The Economic Times Financial sector strong but RBI watchful of emerging risks, says RBI Governor Das
RBI's financial stability report underscores the importance of governance, Basel III norms compliance, and maintaining high CET1 ratios for banks. Monitoring GNPA ratios of public, private, and foreign banks essential for financial system stability and resilience.
The Economic Times Sebi for mandatory disclosure of risk-adjusted return by MFs
"... it is felt that the risk adjusted return (RAR) of a scheme portfolio represents a more holistic measure of the scheme's performance because it quantifies the amount of return generated by a mutual fund scheme for each unit of risk taken to achieve that return," Sebi said in a discussion paper.
The Economic Times High taxes, selective bans drive 30% growth in illegal online gambling in India, says study
The illegal betting market, already thriving in India, is expected to grow by 30% in the coming years, as per a new study. Inadequate legal frameworks, selective banning, and high taxation on legitimate online gaming platforms seem to be key factors contributing to this trend.
The Economic Times Man arrested in Rs 10,000 cr GST fraud case after nine months on the run
A 31-year-old man, Babar Khan, evading police for nine months, was arrested in connection with a Rs 10,000-crore GST fraud across India. Khan allegedly set up fake firms using stolen or forged ID cards to fraudulently claim input tax credit. Noida police initially busted the gang last year, which operated by registering thousands of companies under false identities to generate e-way bills and claim government benefits.
The Economic Times Section 80C deduction in Budget 2024: Will the government increase Section 80C limit under the old income tax regime in Budget?
Section 80C deduction in Budget 2024: The 80C limit has not increased in line with many people's income and costs. Because of this gap, many taxpayers use the entire 80C limit. This is why many want this limit to be increased.
The Economic Times Fiscal deficit hits 3% of full FY25 target in April-May at Rs 50,615 crore
India's fiscal deficit between April-May stood at around 3 per cent of the overall target for FY25, at Rs 50,615 crore, government data showed on Friday.
The Economic Times Fiscal discipline key to India's growth prospects: Sanjay Nayar
So, we will have to also think about how we channel the energies towards more advanced and more modern techniques and technology, because that is what we need right now.
The Economic Times Anand Mahindra dismisses AI as the “death” of IT services: “I believe that the rumours…”
Tech Mahindra's strategic vision, driven by AI integration and efficient execution under new leadership, positions the company for industry leadership and growth in the evolving digital landscape.
The Economic Times Aircraft delivery delays having 'brutal' impact on Lufthansa, says CEO
LUFTHANSA-DELIVERIES/Aircraft delivery delays having 'brutal' impact on Lufthansa, says CEO
