The Economic Times The Economic Times

The Economic Times Taxman widens horizons of realty checks on HNIs

The Income Tax Department is now examining overseas property investments by Indian residents, including recent acquisitions in Switzerland and Portugal. This unprecedented scrutiny follows automatic information exchanges under OECD's common reporting standard. Previously, only details of foreign bank accounts and securities held by Indians were shared, excluding property investments.

The Economic Times Hamara Hospital! Bajaj plans a healthcare ride

The Bajaj Group, worth ₹1.46 lakh crore, initiated steps to venture into the healthcare industry by setting up hospitals in metros. Overseen by Nirav Bajaj, the project will be housed in a new company, with phased investments based on milestones. This marks the group's first major diversification since Rahul Bajaj's death in 2022.

The Economic Times Banks may offer small loans on UPI against FDs

Private banks targeted new-to-bank customers for credit on UPI with fixed deposits as collateral. With the upcoming launch of credit-line-on-UPI by NPCI, banks aimed to cost-efficiently provide small-ticket loans to customers lacking credit history. Collaborations with NBFCs or fintechs were also explored to enhance product distribution.

The Economic Times Go First creditors vote to liquidate airline

Creditors decided to liquidate Go First Airlines after a year-long search for a buyer failed. The liquidation plea was filed with the Delhi NCLT. Offers from potential buyers did not meet expectations. Creditors are looking to recover funds through ongoing arbitration against Pratt & Whitney and an auction of a land parcel in Thane. The airline owes about ₹6,200 crore. Lenders, led by the Central Bank of India, are pursuing over $1 billion in claims against Pratt & Whitney for supplying faulty engines that contributed to the airline's bankruptcy.

The Economic Times Rising dissent & rains to test RBI's status quo on key rates

The Monetary Policy Committee of the RBI convened this week, emphasizing the favorable effects of recent monsoon rains on inflation. Governor Shaktikanta Das insists on focusing on reducing inflation to 4%. External members JR Varma and Ashima Goyal argued for interest rate cuts, citing high real rates. The central bank's growth forecast stands at 7.2%. Despite this, pressures for rate cuts grow as policymakers face challenges if they maintain the current rates, making the final decision crucial.

The Economic Times Gautam Adani plans to cede control to family by early 2030s: Report

Adani Group chairman Gautam Adani, 62, announced plans to retire at 70 and transition control of his conglomerate to his sons and their cousins in the early 2030s, he revealed in a Bloomberg News interview. Adani’s four heirs – Karan and Jeet, along with their cousins Pranav and Sagar – will equally benefit from the family trust.

The Economic Times Tata Group to invest Rs 27000 cr for semiconductor facility, targets to create 27,000 jobs

Tata Group's Rs 27,000 crore semiconductor plant in Assam will create 27,000 jobs and ignite technological growth. N Chandrasekaran, of Tata Sons has shared the plans of the project.

The Economic Times Infosys vs USD 4 Billion GST: CBIC sensitises officials about June circular as tax experts bat for clarity

On July 30, Bengaluru-headquartered tech firm Infosys received a Rs 32,403 crore pre-show cause notice from the Directorate General of GST Intelligence (DGGI) for “non-payment of Integrated GST on import of services” from its foreign branches for the period July 2017, when GST was rolled out, to the FY22.

The Economic Times Indian talent at the helm: Global consulting firms tap into Indian leaders to drive innovation and growth

The resurgence of Indian leaders in top positions at major consulting firms reflects their expertise in technology and innovation, driving growth and transformation in the industry.

The Economic Times With ₹27,000 crore, Adani tops KSK Mahanadi bidder list

Banks had received a total of 10 financial bids for the thermal power company by Thursday evening. Other bidders include Capri Global Holdings, Coal India, NTPC, Vedanta, JSW Energy, Naveen Jindal-owned Jindal Steel & Power, iLab India Special Fund, Rashmi Metaliks and Sherisha Technologies, said the people cited above.

The Economic Times Sebi unveils new system to streamline IPO approvals with simplified template

The Securities and Exchange Board of India (Sebi) plans to create a new system to speed up approvals for initial public offer(IPO). In this proposed system, the regulator plans to create a template where IPO-bound companies would need to just fill in the blanks to get the go-ahead for the issue.

The Economic Times Byju gets Byju's back as startup exits insolvency

While setting aside the National Company Law Tribunal's (NCLT's) July 16 order that allowed insolvency proceedings to be initiated against Byju's, the Chennai bench of the National Company Law Appellate Tribunal (NCLAT) said that if Riju Ravindran defaults on the terms of the settlement with BCCI, the order will be revived.

The Economic Times New record of over 7.28 cr income-tax returns filed: Tax dept

A record 7.28 crore income tax returns were submitted by July 31 for the assessment year 2024-25, exceeding last year’s total. Most filings, 5.27 crore, were under the new tax regime, peaking on the deadline with 69.92 lakh submissions. Additionally, 58.57 lakh returns were from first-time filers, pointing to a broader tax base.

The Economic Times INDIA bloc likely to demand withdrawal of 18% GST on life, medical insurance

The issue that affects middle class across the country, could snowball into a big issue against the government, with opposition parties threatening to take it up in the streets if the government fails to roll back the tax of insurance premiums.

The Economic Times Eicher Motors gets a cut of more than Rs 100 crore in GST demand

Eicher Motors has revised its GST demand orders from the Chennai office to Rs 26.97 crore from Rs 129.79 crore, following an appeal by the automaker. The cut, amounting to over Rs 100 crore, pertains to the non-reversal of input tax credit on returned materials in FY18, which the company had originally accounted for by paying output tax liability.