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The Economic Times
The Economic Times Review of Income Tax Act will be completed in given timeframe: CBDT Chairman
The work, though challenging, was transformative and "we have taken the assignment in a mission mode", the Central Board of Direct Taxes (CBDT) chief said.
The Economic Times IndiGo to challenge penalties related to input tax credit issue
IndiGo decided to challenge two penalties amounting to Rs 3,50,299 over input tax credit disputes. A Rs 1,77,046 penalty from Odisha for FY 2017-18 was upheld, and the airline is set to appeal it at the tribunal. Additionally, a Rs 1,73,253 penalty in Kerala will also be contested.
The Economic Times FM Nirmala Sitharaman urges income tax department to simplify tax notices and avoid 'threatening tone'
During the 165th Income Tax day celebration, Finance Minister Nirmala Sitharaman encouraged the Income Tax department to foster a fair and friendly reputation among taxpayers. She highlighted the importance of simplifying the language used in tax notices to ensure they are easily understood by the public. Sitharaman also congratulated Indian taxpayers on their achievements.
The Economic Times Indians may need to get over a tax headache to secure their health
​Nonetheless, in a country that has high income inequality and healthcare infrastructure needs further major boost, Indians are debating why they should be taxed for something that is associated as a necessity - healthcare. The insurance penetration rate in India is far lower compared to many other nations and tax is an added cost that citizens need to bear if they want to buy medical insurance.
The Economic Times 18% GST on insurance a barrier, negatively impacts Indians’ affordability: HDFC ERGO’s Parthanil Ghosh
The insurance companies determine the gross premiums that are applicable basis the expected cost of claims and associated expenses. These premiums are loaded for the applicable GST. Thus, an insurance policy with a premium of Rs 15,000 will have an additional cost of Rs 2,700 (Rs 15,000*18 per cent). The input tax credit availed by an insurance company against the services procured ensures that these costs are not passed on to the policyholders. Further, policyholders who avail the old income tax regime, are able to avail tax deductions on the insurance premiums up to a certain limit u/s 80D, Ghosh said.
The Economic Times Indian IT sees CFO churn; some join rivals
The Indian IT sector experienced rapid CFO changes in under a year, with notable executives moving to rival firms. Wipro sought Rs 25 crore from ex-CFO Jatin Dalal for joining Cognizant but settled for Rs 4 crore. Other major shifts include new CFOs at LTIMindtree, Persistent Systems, and HCLTech. Regulations for CFO appointments remain minimal in India.
The Economic Times MEITY's Common Service Centre brings Fortinet to beef up cybersecurity for rural India
Fortinet and CSC SPV are teaming up to enhance cybersecurity for rural India's e-governance services, boosting protections and training for broadband-enabled Common Service Centres, supported by MEITY. ETCFO brings you the details of what this MoU signifies. Read here.
The Economic Times Juniper Green Energy explores fundraising options for $5 billion expansion; CFO confirms IPO readiness
Delhi-based renewable energy firm Juniper Green Energy aims to expand its renewable energy capacity to 10 gigawatts by 2030 and has already committed nearly $2 billion to projects under construction.
The Economic Times Perfios names former Infosys executive as CFO
Rajesh Kini joins Perfios from Infosys, where he served as CFO of their product subsidiary and headed the Corporate Accounting Group.
The Economic Times Bharat Bandh: Are banks & post offices open on August 21, 2024?
On August 21, 2024, a Bharat Bandh is being observed by the Reservation Bachao Sangharsh Samiti due to a Supreme Court decision on SC/ST reservations.
The Economic Times Grasim made Rs 20,000 cr capex in FY24, its largest ever: Chairman Kumar Mangalam Birla
Grasim Industries has announced a record capital expenditure of nearly ₹20,000 crore for fiscal year 2023-24, marking its largest investment to date. Over the past five years, the company has invested nearly ₹50,000 crore, with over 75% dedicated to growth initiatives.
The Economic Times Indian companies to spend $45-50 billion in capex over 1-2 years, RIL to lead: Moody's
The oil and gas sector and Reliance Industries will collectively account for over 60 per cent of the rated Indian portfolio's spending over the next couple of years, Moody's.
The Economic Times No plan to probe Madhabi Puri Buch over Hindenburg row, says FinMin official
The finance ministry has clarified that there are no plans to form a panel to investigate Hindenburg Research's allegations against Sebi chairperson Madhabi Puri Buch. Hindenburg accused Buch and her husband of being involved in offshore funds linked to investments in Adani companies. Amid political discussions, the ministry confirmed no decision on a probe has been reached.
The Economic Times Centre-states meets soon on rollout of jobs schemes
The labour and employment ministry will hold a virtual meeting with the states and UTs on Wednesday, followed by six regional meetings from August 30 to October 4, with focus on labour codes, employment generation, integration of e-Shram portal and extension of social security benefits to building and other construction workers, govt officials told ET.
The Economic Times CCI tunes in to RIL-Disney merger show, raises query
The Competition Commission of India (CCI) has raised antitrust concerns about Reliance Industries and Walt Disney's $8.5-billion merger of their media assets. The proposed merger could create a dominant entity in India's entertainment sector, holding significant cricket broadcasting rights. To ease concerns, Reliance and Disney have proposed shutting certain channels and await regulatory approval.
