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Indian tax authorities have demanded approximately $150 million from Dream11 for alleged underpayment of taxes during the years 2017-2019. | Photo Credit: Varun Krishan The Story So Far: On September 12, tax authorities issued notices giving Dream11 30 days to explain why it should not be required to pay a shortfall of 2.1 billion rupees…
Read More “Why Dream11 filed a suit challenging India’s tax demands? | Explained” »
Representational image only. | Photo Credit: Reuters Benchmark equity indices Sensex and Nifty erased early gains to trade lower on October 12 as IT shares declined after TCS stated that headwinds continue for the sector amid a sluggish economic climate. The 30-share Sensex opened higher and rose further by 104 points to hit a high…
Read More “Sensex, Nifty surrender early gains as IT shares fall on TCS commentary” »
Image used for representation purpose only. | Photo Credit: Reuters The rupee stayed on the upward track for the third day in a row, appreciating by 4 paise to 83.14 against the US dollar in early trade on October 12 amid easing crude oil prices and a weak American currency. Subdued sentiments in the domestic…
Read More “Rupee rises 4 paise against U.S. dollar in early trade” »
File picture of the Microsoft logo on one of its offices | Photo Credit: AP Microsoft said on Wednesday the U.S. Internal Revenue Service (IRS) in September notified the company that it is seeking an additional tax payment of $28.9 billion, plus penalties and interest for tax years from 2004 to 2013. Microsoft said the…
Read More “Microsoft says U.S. has asked for $28.9 billion in audit dispute” »
Non-residents and foreign companies opening bank accounts in IFSC Gift City will not have to furnish PAN and can instead file a declaration. The non-resident or the foreign company opening a bank account at the International Financial Services Centres (IFSC) will have to file a declaration in Form 60 and should not have any tax…
Read More “Foreign cos without PAN can open bank accounts in IFSC-Gift City” »
The Union Cabinet on Wednesday approved the country’s three separate memorandum of understandings with Papua New Guinea, France, Trinidad and Tobago in the field of digital technologies. The MoU (memorandum of understanding) with France intends to promote closer cooperation and exchange of information pertaining to digital technologies, and will mutually support each participant’s goal to…
Union Minister Anurag Singh Thakur briefs the media on cabinet decisions at National Media Centre, New Delhi on Wednesday. | Photo Credit: Sushil Kumar Verma The Centre on Wednesday said it has approved royalty rates of 3% each for lithium and niobium and 1% for Rare Earth Elements (REEs). The decision on the royalty rates…
Read More “Cabinet approves royalty rates for lithium, two other strategic minerals” »
The rupee continued its gaining momentum for the second consecutive day and appreciated 7 paise to settle at 83.18 (provisional) against the U.S. dollar on October 11 amid robust buying in domestic equities and a weak American currency overseas. However, unabated withdrawal of funds by foreign institutional investors weighed on the domestic currency, Forex analysts…
Read More “Rupee rises 7 paise to settle at 83.18 against U.S. dollar” »
The World Bank’s chief economist warned Wednesday that interest rate hikes could spell trouble for countries struggling to deal with debt. The U.S. Federal Reserve, the European Central Banks and others have raised rates and warned that they could remain high longer than expected in order to bring down elevated inflation. The International Monetary Fund…
Read More “World Bank says high rates threaten some countries” »
Sensex rose by 393 points while Nifty closed above the 19,800 level on Wednesday | Photo Credit: Reuters Benchmark Sensex rose by 393 points while Nifty closed above the 19,800 level on Wednesday on buying in energy, FMCG and capital goods shares amid mixed global cues and easing inflation concerns. Rising for the second straight…
Read More “Sensex rises 393 pts, Nifty closes above 19,800 on gains in energy FMCG shares” »
