india UK court dismisses Vijay Mallya's appeal against extradition to India By www.mid-day.com Published On :: 20 Apr 2020 11:30:14 GMT A UK court on Monday dismissed fugitive liquor baron Vijay Mallya's appeal against extradition to India. "We consider that while the scope of the prima facie case found by the Senior District Judge (SDJ) is in some respects wider than that alleged by the respondent in India. There is a prima facie case which, in seven important respects, coincides with the allegations in India," a part of the order by the UK court read. A CBI spokesperson confirmed to ANI that the "UK high court dismissed Mallya's appeal against his extradition to India." The 64-year-old businessman had begun the lengthy appeals process in the UK court in February this year against an order to extradite him to India to face multiple charges relating to the collapse of Kingfisher Airlines. It followed a ruling by a lower court -- the Westminster Magistrate's Court -- in December 2018 - that Mallya should be sent to India to face the charges, including one of money laundering to the tune of Rs 9,000 crore. The businessman fled India in March 2016 and has been living in the UK since then. Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates. Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever Full Article
india Indian girl brings smile on withered faces of US nursing home residents amid COVID-19 lockdown By www.mid-day.com Published On :: 24 Apr 2020 05:56:40 GMT Washington: Girls her age play Candy Crush or like watching cartoons, but 15-year-old Hita Gupta peps up hundreds of lonely Americans, including the elderly and children, marooned in nursing homes due to the COVID-19 lockdown by sending them gift packs and spirit-lifting notes. The 10th-grade Indian-American student from Pennsylvania's Conestoga High School has an NGO 'Brightening A Day' and is using it to spread love, hope and joy among America's nursing homes' residents, especially senior citizens, to help them keep at bay their boredom arising from the COVID-19 restrictions. Gupta brightens up their lives by sending them handwritten notes and gift packs containing puzzle and colouring books and a packet colour pencils. "It saddens me to think of how lonely or depressed many nursing home residents feel because they cannot see their loved ones. Our seniors are already one of the most isolated groups. A research has shown that more than 40 per cent of seniors regularly feel lonely," Gupta told PTI in an email interaction. "During this uncertain time, which is causing panic among many seniors, it's our responsibility to let them know that they are not alone. I initially started sending gift packs to nursing homes using self-funding. Now, I have sent them to residents of 16 local nursing homes," she said. Each gift pack contains one puzzle book, one colouring book, and a pack of colour pencils/crayons, Gupta said. "It also contains an uplifting note written by my 9-year-old brother Divit Gupta," she said. Her NGO has reached more than 2,700 kids and seniors in 50 hospitals and nursing homes in seven different States in the US with hand-made cards on holidays like Christmas and Valentine's Day. "We have also sent school supplies and cards to orphanages in India," Gupta said. Gupta's initiative has won her praise from one and all. "Need some inspiration? 15-year-old Hita Gupta, from Pennsylvania, USA, is brightening the lives of nursing home residents with gift packs through her NGO, Brighten A Day," the US Embassy in New Delhi wrote on its Facebook page. "She aims to lift the spirits of those who are in need of some cheer by sending them love, hope, and joy through cards and gifts. During the COVID-19 lockdown period, she is sending handwritten notes and gift packs to cheer the residents and help them overcome loneliness and isolation. More power to you Hita!" the embassy said. Nursing homes throughout the US are limiting the interaction of senior citizens who remain mostly confined to their rooms. Outsiders are also prohibited form visiting them, resulting in feelings of loneliness and isolation in many of them. The US is the worst affected country from the coronavirus, with 842,000 infections and over 46,000 deaths reported so far. According to Centre for Diseases Control and Prevention, eight in every 10 deaths due to the coronavirus reported in the US are adults, and people who are 65 years old or above. Globally, the coronavirus pandemic has claimed over 185,000 lives and infected more than 2.6 million people, according to the Johns Hopkins University data. Full Article
india Indian-American Democratic National Committee CEO steps down By www.mid-day.com Published On :: 26 Apr 2020 07:36:17 GMT Indian-American Seema Nanda has announced that she was stepping down as the CEO of the Democratic National Committee (DNC), it was reported. The Boston College Law School and Brown University grad, who took over as the DNC CEO in June 2018, succeeding Mary Beth Cahill, announced the move via Twitter on Friday, the American Bazaar reported. "After two years, I will be stepping down as CEO of the DNC. I couldn't be prouder of the infrastructure we have built, the primary process we have run, and the team we have built. "I look forward to continuing the fight for our democracy and to elect Democrats everywhere," she added. Nanda however, did not reveal the reason behind her decision nor did she announce her next move. During her tenure, Nanda worked closely with DNC Chair Tom Perez, managing the group's day-to-day operations. The two had worked together at the Department of Labor during the former administration of President Barack Obama. Perez's term as DNC chair will end after the November presidential election. While accepting the position in 2018, Nanda described the job as "the opportunity of a lifetime". Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates. Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever Full Article
india Coronavirus outbreak: Four-year-old Indian girl recovers from COVID-19 in Dubai By www.mid-day.com Published On :: 27 Apr 2020 06:19:40 GMT A four-year-old Indian girl in Dubai has become one of the youngest in the United Arab Emirates (UAE) to have recovered from the novel coronavirus after walking free from hospital last week, it was reported. The girl, known only as Sivani, was given a fitting send off by medical staff at Al Futtaim Health Hub on April 20, 20 days after being admitted on April 1, the Gulf News report said. Sivani contracted the virus from her mother - a front line health worker - who fell ill in March. Both Sivani and father dad were also tested despite not having any symptoms and, unlike her father, Sivani was found to be positive. The girl and her mother were kept in the same facility, but concern was greater for the minor who had also fought off a rare type of kidney cancer last year called ganglioneuroblastoma. Being a cancer survivor, doctors made extra precautions. "Sivani had undergone chemotherapy sessions only last year and hence her immune system was still weak," Gulf News reported citing Tholfkar Al Baaj, group medical director at Al Futtaim Health Hub and the consultant in family medicine who treated Sivani, as saying. "The doctors were concerned as she was at higher risk of developing a severe form of the disease and therefore, we had put her under close monitoring. Fortunately, she did not develop any complications from the infection," he added. Sivani remained under treatment for 20 days before two consecutive negative swab tests rendered her all clear. She will now undergo 14-days quarantine at home. Her mother remains under observation and was expected to be released soon. Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates. Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever Full Article
india Indian worker killed in Singapore accident By www.mid-day.com Published On :: 27 Apr 2020 07:52:32 GMT A Singapore-based Indian worker and his colleague were killed in an accident involving a car and the motorcycle they were on, it was reported. The Police were alerted on Saturday morning that a male motorcyclist from Malaysia, 27, and the pillion rider, Sulthan Abdul Kathar Rahman Kareem, 33, from India, were involved in an accident with a sedan car at the junction of Hougang Avenue 3 and Airport Road, The Straits Times reported on Sunday. The two were taken to the Changi General Hospital, where they were later pronounced dead. The two colleagues were heading to a restaurant where they worked, said a relative of Sulthan's. "My cousin is the sole bread winner of his family, who were living back home in the Kottaipattinam village in southern India," the relative added. Prior to his death, Sulthan had been working in Singapore for over four years. Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates. Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever Full Article
india COVID-19: As cases hit 1 million in US, many Americans opt to stay back in India By www.mid-day.com Published On :: 29 Apr 2020 04:49:43 GMT Many Americans in India who had signed up for airlifts back to the US are now deciding to stay back and "ride it out" during the COVID-19 pandemic, according to the State Department's top consular official. Principal Deputy Assistant Secretary of State Ian Brownlee said on Tuesday that many who had enlisted for repatriation from India were not responding to offers of seats on the planes arranged by the department to take them home. The number of recorded COVID-19 cases in the US reached 1 million on Tuesday, with 58,348 deaths, while India had only 31,368 officially recorded cases with 1,008 fatalities, according to the Johns Hopkins University tracker. Brownlee said: "Two weeks ago, we had a list of folks and we were pretty sure if we called (the) folks they'd show up at the airport and say, 'Yes, please.' We're now getting to the point on that list, we're having to make multiple calls for individual seats because people are deciding 'No,' they'd just as soon ride it out where they are." Last week he said that 4,000 Americans had been brought back to the US and 6,000 were waiting for airlifts. India has cancelled passenger flights and rail transportation during the strict lockdown imposed on March 25. Brownlee had spoken earlier of the massive logistics effort required to bring Americans from around the vast country to Mumbai and New Delhi, the departure points for the chartered flights. Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates. Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever Full Article
india USAID announces additional USD 3 mn aid to India to fight coronavirus By www.mid-day.com Published On :: 30 Apr 2020 06:07:55 GMT The US Government, through its aid agency USAID, has announced a grant of an additional USD 3 million to India to mitigate the spread of COVID-19. In coordination with the Indian government, the USAID is providing these funds to the Partnerships for Affordable Healthcare Access and Longevity (PAHAL) project, an innovative financing platform of IPE Global, USAID said in a statement on Wednesday. US Ambassador to India, Kenneth Juster, stated: "This additional funding to support India in its continuing efforts to combat COVID-19 is yet another example of the strong and enduring partnership between the United States and India." To date, the USAID has provided USD 5.9 million to assist India in responding to the COVID-19 outbreak. This assistance will help India slow the spread of COVID-19, provide care for the affected, disseminate essential public health messages to communities, and strengthen case finding and surveillance. Through the PAHAL project, the USAID will support the National Health Authority to establish a financing facility that can mobilize resources from the private sector to assist over 20,000 health facilities enrolled under Pradhan Mantri Jan Arogya Yojana (PM-JAY), India's health insurance scheme for 500 million poor and vulnerable people. During the talks on April 04, Prime Minister Narendra Modi and US President Donald Trump had agreed to deploy the full strength of the India-US partnership to combat the coronavirus pandemic. Early this month, India, at the request of President Donald Trump, had exported 35.82 lakh tablets of hydroxychloroquine to the US along with active pharmaceutical ingredient or API required in the manufacturing of the drug. Trump had thanked India for its decision to export hydroxychloroquine to fight coronavirus and lauded Prime Minister Modi for his "strong leadership" in helping "not just India, but humanity" in this fight. Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates. Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever Full Article
india Vijay Mallya appeals to UK Supreme Court as last ditch effort to prevent extradition to India By www.mid-day.com Published On :: 5 May 2020 06:00:57 GMT As a last ditch effort to prevent his extradition to India, embattled liquor baron Vijay Mallya on Monday filed an application in UK Supreme Court to prevent implementation of an earlier order that made his return to India imminent. The application came after a gap of almost two weeks after the London High Court on April 20 rejected a similar application and ordered his extradition to India to face enforcement authorities there in connection with a Rs 9,000 crore bank fraud and money laundering case involving his now defunct Kingfisher Airlines. The UK Supreme Court is expected to hear the matter later this week. Legal experts said that if the application is rejected by Supreme Court as well, then UK Home Secretary would have to sign on Mallya's extradition papers within 28 days. Mallya's application in Supreme Court came on the last day when such an appeal could be made in the top court. The 64-year-old businessman was given 14 days to file such an application against the order of High Court. The high court dismissed his appeal against a Westminster Magistrates' Court extradition order certified by the UK Home Secretary. Legal experts quoted above said it is unlikely for Mallya to get a reprieve from Supreme Court as it would only look as constitutional issues and may not tamper with high court's order if other aspects are in order. This should be music to the ears of enforcement agencies in India who have been waiting for a long time get hold of the fugitive businessman. The ED has attached several properties of Mallya in the last few years under sections of the Prevention of Money Laundering Act. Mallya is being investigated by the CBI and the Enforcement Directorate in connection with the loan fraud case. He was arrested by the UK authorities on April 20, 2017 on the request of the Indian investigative agencies. Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates. Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever Full Article
india UNICEF: At 20.1 million, India expected to have highest births since COVID-19 declared as pandemic By www.mid-day.com Published On :: 7 May 2020 08:10:20 GMT India is projected to record the highest number of births in the 9 months since COVID-19 was declared a pandemic in March, with more than 20 million babies expected to be born in the country between March and December, according to top UN body. The United Nations Children's Fund (UNICEF) warned that pregnant mothers and babies born during the pandemic across the world were threatened by strained health systems and disruptions in services. An estimated 116 million babies will be born under the shadow of COVID-19 pandemic, UNICEF said on Wednesday, ahead of Mother's Day, observed on May 10. These babies are projected to be born up to 40 weeks after COVID-19 was recognised as a pandemic on March 11. The highest numbers of births in the 9 months since the pandemic was declared are expected to occur in India, where 20.1 million babies are projected to be born between March 11 and December 16. Other countries with the expected highest numbers of births during this period are China (13.5 million), Nigeria (6.4 million), Pakistan (5 million) and Indonesia (4 million), it said. "Most of these countries had high neonatal mortality rates even before the pandemic and may see these levels increase with COVID-19 conditions," UNICEF said. It is estimated that there will be 24.1 million births in India for the January-December 2020 period. UNICEF warned that COVID-19 containment measures can disrupt life-saving health services such as childbirth care, putting millions of pregnant mothers and their babies at great risk. Even wealthier countries are affected by this crisis. In the US, the sixth highest country in terms of expected number of births, over 3.3 million babies are projected to be born between March 11 and December 16."New mothers and newborns will be greeted by harsh realities," UNICEF said, adding they include global containment measures such as lockdowns and curfews; health centres overwhelmed with response efforts; supply and equipment shortages; and a lack of sufficient skilled birth attendants as health workers, including midwives, are redeployed to treat COVID-19 patients. "Millions of mothers all over the world embarked on a journey of parenthood in the world as it was. They now must prepare to bring a life into the world as it has become ¿ a world where expecting mothers are afraid to go to health centres for fear of getting infected, or missing out on emergency care due to strained health services and lockdowns," UNICEF Executive Director Henrietta Fore said. "It is hard to imagine how much the coronavirus pandemic has recast motherhood" Fore said.UNICEF said its analysis was based on data from World Population Prospects 2019 of the UN Population Division. An average full-term pregnancy typically lasts a complete 9 months, or 39 to 40 weeks. For the purposes of this estimate, the number of births for a 40-week period in 2020 was calculated. The 40-week period of March 11 to December 16 is used in this estimate based upon the WHO's March 11 assessment that COVID-19 can be characterised as a pandemic. UNICEF warned that although evidence suggests that pregnant mothers are not more affected by COVID-19 than others, countries need to ensure they still have access to antenatal, delivery and postnatal services. Similarly, sick newborns need emergency services as they are at high risk of death. New families require support to start breastfeeding, and to get medicines, vaccines and nutrition to keep their babies healthy, it said. "This is a particularly poignant Mother's Day, as many families have been forced apart during the coronavirus pandemic, but it is also a time for unity, a time to bring everyone together in solidarity. We can help save lives by making sure that every pregnant mother receives the support she needs to give birth safely in the months to come," Fore said. Issuing an urgent appeal to governments and health care providers to save lives in the coming months, UNICEF said efforts must be made to help pregnant women receive antenatal checkups, skilled delivery care, postnatal care services, and care related to COVID-19 as needed. Ensure health workers are provided with the necessary personal protective equipment and get priority testing and vaccination once a COVID-19 vaccine becomes available so that can deliver high quality care to all pregnant women and newborn babies during the pandemic, it said. While it is not yet known whether the virus is transmitted from a mother to her baby during pregnancy and delivery, UNICEF advised all pregnant women to follow precautions to protect themselves from exposure to the virus. Closely monitor themselves for symptoms of COVID-19 and seek advice from the nearest designated facility if they have concerns or experience symptoms. Pregnant women should also take the same precautions to avoid COVID -19 infection as other people: practice physical distancing, avoid physical gatherings and use online health services, it said. UNICEF said even before COVID-19 pandemic, an estimated 2.8 million pregnant women and newborns died every year, or 1 every 11 seconds, mostly of preventable causes.The agency called for immediate investment in health workers with the right training, who are equipped with the right medicines to ensure every mother and newborn is cared for by a safe pair of hands to prevent and treat complications during pregnancy, delivery and birth. Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates. Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever Full Article
india Tax-News.com: India, Hong Kong Sign Double Tax Deal By www.tax-news.com Published On :: Tue, 20 Mar 2018 00:00:00 GMT Hong Kong and India on March 19 signed an agreement to avoid double taxation and limit withholding tax rates on passive income at source. Full Article
india Tax-News.com: PwC India Urges GST Regime Simplification By www.tax-news.com Published On :: Tue, 20 Mar 2018 00:00:00 GMT PwC India has called for simplification of India's goods and services tax regime, in a report to mark 200 days since the regime entered into force. Full Article
india Tax-News.com: India Consults Taxpayers On Income Tax Law Reform By www.tax-news.com Published On :: Thu, 22 Mar 2018 00:00:00 GMT India has launched a consultation on efforts to reform the country's 1961 income tax law, to be led by a newly constituted task force. Full Article
india Tax-News.com: India Defers Surrogate Entity CbC Reporting Deadline By www.tax-news.com Published On :: Wed, 28 Mar 2018 00:00:00 GMT The Indian Central Board of Direct Taxes has issued a statement to defer the filing obligation on surrogate parent entities with regards to country-by-country reporting. Full Article
india Tax-News.com: India Adds BEPS Provisions To Qatar Tax Treaty By www.tax-news.com Published On :: Thu, 29 Mar 2018 00:00:00 GMT India has approved amendments to its double tax agreement with Qatar. Full Article
india Tax-News.com: India To Expand GST E-Way Bill Pilot By www.tax-news.com Published On :: Thu, 12 Apr 2018 00:00:00 GMT The Indian Government has provided an update on the roll-out of the e-Way Bill system, which was introduced on April 1, 2018, confirming it will be extended to another five states from April 15, 2018. Full Article
india Tax-News.com: India Consults On Advance Pricing Agreement Regime Changes By www.tax-news.com Published On :: Fri, 13 Apr 2018 00:00:00 GMT India's Central Board of Direct Taxes has launched a consultation on changes to the country's tax ruling process and forms to enable the country to exchange information on tax rulings with other countries' tax authorities, as proposed by the OECD in its base erosion and profit shifting (BEPS) project. Full Article
india Tax-News.com: India Announces Plans To Simplify GST Filing, Overhaul Refund System By www.tax-news.com Published On :: Fri, 4 May 2018 00:00:00 GMT Meeting on May 4, 2018, India's GST Council approved plans to simplify GST filing obligations. Full Article
india Tax-News.com: India To Expedite Resolution Of Tax Disputes In June By www.tax-news.com Published On :: Tue, 12 Jun 2018 00:00:00 GMT India's Central Board of Direct Taxation announced on June 7, 2018, that during the first two months of June tax officials have been tasked with resolving disputes with taxpayers. Full Article
india Tax-News.com: Switzerland To Hand Over HSBC Data To India By www.tax-news.com Published On :: Thu, 9 Aug 2018 00:00:00 GMT India is to receive bank account information from HSBC, after Switzerland's highest court ruled that the bank is obligated to provide data requested where the leaked data has not been purchased. Full Article
india Tax-News.com: Switzerland, India To Share Tax Data, Conclude FTA By www.tax-news.com Published On :: Fri, 17 Aug 2018 00:00:00 GMT Officials from Switzerland and India have discussed the automatic exchange of tax information and free trade. Full Article
india Tax-News.com: Indian GST Council Endorses GST Rate Changes For Housing By www.tax-news.com Published On :: Thu, 14 Mar 2019 00:00:00 GMT India's GST Council has decided on a number of goods and services tax regime amendments to boost the availability of affordable housing in the country. Full Article
india Tax-News.com: Indian GST Regime Changes Effective April 1 By www.tax-news.com Published On :: Thu, 14 Mar 2019 00:00:00 GMT A number of goods and services tax regime amendments, intended to simplify compliance for traders, will become effective in India from April 1, 2019. Full Article
india Tax-News.com: India Finalizes Details Of New Real Estate GST Regime By www.tax-news.com Published On :: Tue, 26 Mar 2019 00:00:00 GMT India's GST Council has put flesh on the bones of its plans to introduce a new goods and services tax regime for real-estate transactions. Full Article
india Tax-News.com: India Introduced GST Changes On April 1 By www.tax-news.com Published On :: Fri, 5 Apr 2019 00:00:00 GMT A number of goods and services tax regime amendments, intended to simplify compliance for traders, became effective in India from April 1, 2019. Full Article
india Tax-News.com: India Consults On Unitary Taxation Proposals By www.tax-news.com Published On :: Mon, 29 Apr 2019 00:00:00 GMT India's Central Board of Direct Taxes has launched a new consultation on proposals to amend Article 7 of India's double tax treaties on permanent establishment, and rule 10 in the Income Tax Rules, 1962, to establish a formula to bring within the charge to Indian tax a proportion of profits of a multinational deemed to have a significant digital presence in India. The country is considering using a formulary apportionment approach, akin to that proposed under the EU's Common Corporate Tax Base initiative. Full Article
india Tax-News.com: India's GST Council Agrees Overhaul Of GST Returns By www.tax-news.com Published On :: Fri, 5 Jul 2019 00:00:00 GMT During its 35th meeting, India's GST Council approved changes to GST filing requirements and deadlines, and approved the introduction of an electronic invoicing system, Full Article
india Tax-News.com: India Gazettes Law For Budget Tax Changes By www.tax-news.com Published On :: Thu, 8 Aug 2019 00:00:00 GMT India has published in its Official Gazette legislation to give effect to tax announcements in the 2019-20 Budget. Full Article
india Tax-News.com: India Seeking To Bury Legacy Indirect Tax Disputes This Year By www.tax-news.com Published On :: Fri, 30 Aug 2019 00:00:00 GMT India will launch its legacy dispute scheme starting September 1, 2019. Full Article
india Tax-News.com: India Again Extends Deadline For 2017-18 Annual GST Return By www.tax-news.com Published On :: Fri, 30 Aug 2019 00:00:00 GMT India has again extended the due date for furnishing the annual GST return and reconciliation statement for the 2017-18 fiscal year. Full Article
india Tax-News.com: Indian Banks To Begin Withholding Tax On Large Cash Withdrawals By www.tax-news.com Published On :: Thu, 5 Sep 2019 00:00:00 GMT As of September 1, 2019, India introduced an obligation for tax to be deducted at source at a two percent rate if a taxpayer's cash withdrawals totaled INR10m (USD138,350) or more in the previous year. Full Article
india Tax-News.com: India Sets Arm's Length 'Tolerable Range' For 2019-20 By www.tax-news.com Published On :: Fri, 20 Sep 2019 00:00:00 GMT India's Ministry of Finance has released a new Notification that sets the "tolerable range" for arm's length dealings. Full Article
india Tax-News.com: India Announces 22pc Corporate Tax Rate By www.tax-news.com Published On :: Fri, 27 Sep 2019 00:00:00 GMT The Indian Government on September 20, 2019, announced that it will reduce the rate of corporate tax to 22 percent, from 30 percent. New domestic manufacturing ventures will benefit from a 15 percent rate. Full Article
india Tax-News.com: Indian GST Council Approves Changes To Filing Rules, Rates By www.tax-news.com Published On :: Fri, 27 Sep 2019 00:00:00 GMT India's GST Council agreed a number of changes to the country's goods and services tax regime, at its meeting on September 20, 2019. Full Article
india Tax-News.com: Indian Authorities To Collaborate On Tackling GST Refund Fraud By www.tax-news.com Published On :: Mon, 27 Jan 2020 00:00:00 GMT Local authorities in India have been instructed to draw up lists of taxpayers that have filed fraudulent or potentially fraudulent requests for input tax credits and where appropriate share this information with other state authorities. Full Article
india CASTROL INDIA Surges by 6%; BSE OIL & GAS Index Up 1.4% By feeds.equitymaster.com Published On :: Fri, 8 May 2020 09:39 AM Posted by Equitymaster CASTROL INDIA share price has zoomed 6% and is presently trading at Rs 131. Meanwhile, the BSE OIL & GAS Index is at 11,694 (up 1.4%). Among the top Gainers in the BSE OIL & GAS Index today is CASTROL INDIA (up 5.7%). Over the last one year, CASTROL INDIA has moved down from Rs 149 to Rs 131, registering a loss of Rs 18 (down 12.5%). On the other hand, the BSE OIL & GAS has moved down from 15,092 to 11,694, loss of 3,398 points (down 22.8%) during the last 12 months. The top gainers among the BSE OIL & GAS Index stocks during this same period were INDRAPRASTHA GAS (up 52.7%) and RELIANCE IND. (up 15.1%). One Stock Crorepati: The Biggest Money-Making Opportunity Available Right Now What About the Benchmark Indices? The BSE Sensex is at 32,089 (up 1.5%). The top gainers among the BSE Sensex stocks today are INDUSIND BANK (up 4.3%), HUL (up 3.3%) and KOTAK MAHINDRA BANK (up 2.9%). Other gainers include RELIANCE IND. (up 2.7%) and AXIS BANK (up 2.4%). The most traded stocks in the BSE Sensex are RELIANCE IND. and INDUSIND BANK. In the meantime, NSE Nifty is at 9,383 (up 1.4%). The top gainers in the NSE Nifty include INDUSIND BANK (up 3.9%), DR. REDDYS LAB (up 3.5%) and KOTAK MAHINDRA BANK (up 3.2%). Other gainers include INDIABULLS HOU. FIN. (up 3.2%) and HUL (up 2.9%) are among the top gainers in NSE Nifty. Over the last 12 months, the BSE Sensex has moved down from 38,277 to 32,089, registering a loss of 6,188 points (down 16.63%).CASTROL INDIA Financial Update...CASTROL INDIA net profit stood at Rs 3 billion for the quarter ended December 2019, compared to a profit of Rs 2 billion a year ago. Net Sales declined 2.1% to Rs 10.1 billion during the period as against Rs 10.3 billion in October-December 2018.For the year ended December 2018, CASTROL INDIA reported 2.4% increase in net profit to Rs 7.1 billion compared to net profit of Rs 6.9 billion during FY17.Revenue of the company grew 1.4% to Rs 39 billion during FY18. The current Price to earnings ratio of CASTROL INDIA, based on rolling 12 month earnings, stands at 15.6x. p >This article (CASTROL INDIA Surges by 6%; BSE OIL & GAS Index Up 1.4%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange. Full Article
india TUBE INVESTMENTS OF INDIA LTD Plunges by 5%; BSE CAPITAL GOODS Index Up 0.8% By feeds.equitymaster.com Published On :: Fri, 8 May 2020 10:31 AM Posted by Equitymaster TUBE INVESTMENTS OF INDIA LTD share price has plunged 5% and is presently trading at Rs 375. Meanwhile, the BSE CAPITAL GOODS Index is at 11,399 (up 0.8%). Among the top losers in the BSE CAPITAL GOODS Index today is TUBE INVESTMENTS OF INDIA LTD (down 5.4%). SKF INDIA (up 7.4%) and SADBHAV ENGINEERING (up 4.9%) are among the top gainers today. Over the last one year, TUBE INVESTMENTS OF INDIA LTD has moved up from Rs 368 to Rs 375, registering a gain of Rs 7 (up 1.9%).. The BSE CAPITAL GOODS has moved down from 17,932 to 11,399, loss of 6,533 points (down 36.4%) during the last 12 months. The top gainers among the BSE CAPITAL GOODS Index stocks during this same period were HONEYWELL AUTOMATION (up 14.0%). One Stock Crorepati: The Biggest Money-Making Opportunity Available Right Now What About the Benchmark Indices? The BSE Sensex is at 32,089 (up 1.3%). The top gainers among the BSE Sensex stocks today are ICICI BANK (up 3.7%). The most traded stocks in the BSE Sensex are SBI and INDUSIND BANK. In the meantime, NSE Nifty is at 9,383 (up 1.4%). DR. REDDYS LAB (up 4.7%) is among the top gainers in NSE Nifty. Over the last 12 months, the BSE Sensex has moved down from 38,277 to 32,089, registering a loss of 6,188 points (down 16.77%).This article (TUBE INVESTMENTS OF INDIA LTD Plunges by 5%; BSE CAPITAL GOODS Index Up 0.8%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange. Full Article
india ITD CEMENTATION INDIA Surges by 11%; BSE REALTY Index Up 1.3% By feeds.equitymaster.com Published On :: Fri, 8 May 2020 11:23 AM Posted by Equitymaster ITD CEMENTATION INDIA share price has zoomed 11% and is presently trading at Rs 38. Meanwhile, the BSE REALTY Index is at 1,345 (up 1.3%). Among the top Gainers in the BSE REALTY Index today is ITD CEMENTATION INDIA (up 10.8%). SOBHA LIMITED and OMAXE LTD are among the top losers today. Over the last one year, ITD CEMENTATION INDIA has moved down from Rs 115 to Rs 38, registering a loss of Rs 78 (down 67.5%). On the other hand, the BSE REALTY has moved down from 1,983 to 1,345, loss of 638 points (down 32.4%) during the last 12 months. One Stock Crorepati: The Biggest Money-Making Opportunity Available Right Now What About the Benchmark Indices? The BSE Sensex is at 32,089 (up 1.6%). The top gainers among the BSE Sensex stocks today are RELIANCE IND. (up 4.0%), ICICI BANK (up 3.8%) and BHARTI AIRTEL (up 3.1%). Other gainers include HUL (up 2.7%) and KOTAK MAHINDRA BANK (up 2.7%). The most traded stocks in the BSE Sensex are SBI and INDUSIND BANK. In the meantime, NSE Nifty is at 9,383 (up 1.5%). The top gainers in the NSE Nifty include RELIANCE IND. (up 4.1%), ICICI BANK (up 3.8%) and DR. REDDYS LAB (up 3.7%). Other gainers include BHARTI AIRTEL (up 3.3%) and HUL (up 2.7%) are among the top gainers in NSE Nifty. Over the last 12 months, the BSE Sensex has moved down from 38,277 to 32,089, registering a loss of 6,188 points (down 16.56%).This article (ITD CEMENTATION INDIA Surges by 11%; BSE REALTY Index Up 1.3%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange. Full Article
india Indian Indices Trade Higher; Reliance Industries & ICICI Bank Top Gainers By feeds.equitymaster.com Published On :: Fri, 8 May 2020 12:30 pm Posted by Equitymaster Share markets in India are presently trading on a positive note. Benchmark indices advanced today tracking firm global cues.Further, talks of an economic stimulus for small businesses battered by the coronavirus outbreak improved sentiment.Reportedly, the government may unveil fiscal stimulus amounting to 0.3% of the country's gross domestic product, focusing on small and medium sized businesses, real estate firms and banks.The BSE Sensex is trading up by 524 points while the NSE Nifty is trading up by 146 points.The BSE Mid Cap index and the BSE Small Cap index are trading up by 0.9% and 0.7%, respectively.Sectoral indices are trading mixed with stocks in the energy sector and telecom sector witnessing buying interest, while power stocks are witnessing selling pressure.The rupee is currently trading at 75.44 against the US$.Gold prices are currently trading down by 0.1% at Rs 46,134. --- Advertisement --- FREE Guide for You: Find the Next Crorepati Stock in this Futuristic IndustryTanushree Banerjee, the co-head of research, just shared her latest guide: Find the Next Crorepati Stock in this Futuristic Industry And she has agreed to make it available for free for a limited time. If you've not claimed your free copy, then do so now. It might not remain free for long. One more thing... Tanushree has also discovered one stock from this futuristic industry... which she strongly believes has the potential to make one Rs 1 crore or more in the long run. She'll reveal more details about this stock in her 'One Stock Crorepati MEGA Summit' We expect this to a huge event... with more than 10,000 people attending it LIVE. You simply can't miss it. Click Here to Download the Guide & Block Your Seat Now. It's Free. ------------------------------ Speaking of the current stock market scenario, after a sharp rally in the past few weeks, the markets have turned volatile again.You would be interested in knowing when the market will likely bottom out.Vijay Bhambwani, editor of Weekly Cash Alerts, has the answer and he has recorded a video about it.You can check the same here - This is When the Stock Market Will Bottom OutMoving on, market participants are tracking Shree Cement share price, TCI Express share price, and SBI Cards and Payment Services share price as these companies are scheduled to announce their March quarter results (Q4FY20) later today.You can read our recently released Q4FY20 results of other companies here: Ambuja Cement, IndusInd Bank, Axis Bank, Tech Mahindra, Reliance Industries, Marico, Kansai Nerolac, NIIT Technologies, Persistent Systems, SKF India.In news from the banking sector, public sector banks (PSBs) sanctioned loans worth Rs 5.66 lakh crore for the March-April period to 41.81 lakh accounts, according to the finance ministry.The borrowers represented the micro small and medium sized enterprises (MSMEs), retail, agriculture and corporate sectors.Reportedly, PSB loans amounting to Rs 265 billion have been sanctioned in 2.37 lakh cases for MSMEs.This is part of the PSB initiative to prioritise pre-approved emergency credit lines and enhanced working capital requirements to the sector. --- Advertisement --- Corona Crash Alert: 7 Stocks You Absolutely Don't Want to Miss Our Co-Head of Research, Tanushree Banerjee, has identified 7 stocks that could do exceedingly well in the coming years riding on a rare economic event. And with the corona crash, this opportunity has only become even more exciting. And she says those who get into these 7 stocks right now have the chance to make potentially LIFE-CHANGING returns in the long run. So will you be among those who acts on this opportunity now? Or will you be among those who will kick yourself later not taking action now? The choice is yours. Full details on these 7 stocks are included in Tanushree's special report. And by acting fast, you can claim a copy of this report virtually FREE. Click here to find out how you can claim your FREE copy ------------------------------ Meanwhile, PSBs sanctioned loans worth Rs 773.8 billion to non-banking financial companies (NBFCs) and housing finance companies (HFCs) between March 1 and May 4.Including the Reserve Bank of India's (RBI) targeted long term repo operations (TLTRO) window, PSBs extended Rs 1.08 lakh crore of financing to ensure business stability and continuity.The finance ministry said that the three-month loan moratorium facility announced by the RBI has been availed by 3.2 crore PSB accounts.On Thursday, Finance Minister Nirmala Sitharaman said that the Indian economy is poised to recover from the recent crisis brought upon by the coronavirus pandemic with PSB sanctioning loans worth Rs 5.66 lakh crore in just two months.Speaking of the banking sector, the low access to credit for micro small and medium enterprises (MSMEs) tells us there is a huge opportunity for lenders.This is evident from the chart below:India's Huge Lending Opportunity Of the 60 million MSMEs in India, only 11% had access to credit from organised lenders. Most of them are self-financed or get credit from unorganised sources.Here's what Tanushree Banerjee wrote about this in one of the editions of The 5 Minute WrapUp...Self-financing limits the growth of these MSMEs. On the other hand, high interest rates from unorganised sources makes it difficult for them to earn profits.The Modi government is looking at various ways to correct this problem. Mudra loans, online loans facilities are being made available to MSMEs.Slowly but surely, lenders are sensing the huge opportunity that lies ahead for this sector.Banks and other financial firms with prudent lending practices and strong distribution networks will benefit from this megatrend.Tanushree is counting on 7 top stocks from the Indian stock market that will benefit from this megatrend.As per her, now is the right time to buy these stocks to profit from the Rebirth of India. You can read about them here.Moving on to news from the FMCG sector, shares of Hindustan Unilever (HUL) rose 4% today after institutional investors bought stake in the company via open market on Thursday.The NSE bulk deal data showed that foreign portfolio investor Societe Generale, a French multinational investment bank and financial services company, bought 129 million shares of HUL at an average price of Rs 1,902.UK-based Glaxo-SmithKline (GSK) offloaded its stake in HUL via block deals, yesterday.According to the term sheet, over 133 million shares were offered in the range of Rs 1,850-1,950 to investors through a special block window.The deal is valued roughly between Rs 246 billion to Rs 259 billion.Note that last week, HUL reported a 7% decline in volumes in Q4FY20. The company's profit before tax fell 10.6% to Rs 19.9 billion, while net profit declined 1.2% year-on-year (YoY) to Rs 15.2 billion.HUL share price is presently trading up by 3%.To know more about the company, you can HUL's latest result analysis on our website.And to know what's moving the Indian stock markets today, check out the most recent share market updates here.This article (Indian Indices Trade Higher; Reliance Industries & ICICI Bank Top Gainers) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange. Full Article
india TIMKEN INDIA Plunges by 5%; BSE 500 Index Up 1.0% By feeds.equitymaster.com Published On :: Fri, 8 May 2020 02:13 PM Posted by Equitymaster TIMKEN INDIA share price has plunged 5% and is presently trading at Rs 888. Meanwhile, the BSE 500 Index is at 12,146 (up 1.0%). Among the top losers in the BSE 500 Index today are TIMKEN INDIA (down 5.1%) and LAURUS LABS LTD (down 8.9%). E.I.D. PARRY (up 8.0%) and TV18 BROADCAST (up 7.4%) are among the top gainers today. Over the last one year, TIMKEN INDIA has moved up from Rs 549 to Rs 888, registering a gain of Rs 339 (up 61.6%).. The BSE 500 has moved down from 14,958 to 12,146, loss of 2,812 points (down 18.8%) during the last 12 months. The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 432.8%), ABBOTT INDIA (up 142.8%) and NAVIN FLUORINE (up 115.8%). One Stock Crorepati: The Biggest Money-Making Opportunity Available Right Now What About the Benchmark Indices? The BSE Sensex is at 32,089 (up 1.2%). The top gainers among the BSE Sensex stocks today are RELIANCE IND. (up 4.2%). The most traded stocks in the BSE Sensex are INDUSIND BANK and ICICI BANK. In the meantime, NSE Nifty is at 9,383 (up 1.1%). ZEE ENTERTAINMENT (up 4.9%) and DR. REDDYS LAB (up 4.3%) are among the top gainers in NSE Nifty. Over the last 12 months, the BSE Sensex has moved down from 38,277 to 32,089, registering a loss of 6,188 points (down 16.83%).TIMKEN INDIA Financial Update...TIMKEN INDIA net profit stood at Rs 846 million for the quarter ended December 2019, compared to a profit of Rs 264 million a year ago. Net Sales declined 3.0% to Rs 3.7 billion during the period as against Rs 3.8 billion in October-December 2018.For the year ended March 2019, TIMKEN INDIA reported 61.6% increase in net profit to Rs 1.5 billion compared to net profit of Rs 920.0 million during FY18.Revenue of the company grew 33.0% to Rs 17 billion during FY19. The current Price to earnings ratio of TIMKEN INDIA, based on rolling 12 month earnings, stands at 26.5x. p >This article (TIMKEN INDIA Plunges by 5%; BSE 500 Index Up 1.0%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange. Full Article
india OnePlus Bullets Wireless Z earphones pricing, availability details revealed for India By www.businesstoday.in Published On :: Fri, 08 May 2020 12:06:05 GMT The OnePlus Bullets Wireless Z earphones come with a magnetic stripe on the earbuds that pause music when attached. Full Article
india 100 days of coronavirus in India: 1 new case in Kerala in 24 hours; 1st infection on Jan 30, says CM Vijayan By www.businesstoday.in Published On :: Sat, 09 May 2020 11:21:40 GMT Kerala coronavirus cases: With May 8 being the 100th day of COVID-19 outbreak in India, Kerala reported only one new case in 24 hours, state CM Pinarayi Vijayan said on Friday Full Article
india Fighting COVID-19 with facts not fear: How India can get back to work after coronavirus lockdown By www.businesstoday.in Published On :: Sun, 26 Apr 2020 06:58:42 GMT Under complete lockdown less than a quarter of India's $2.8 trillion economy is functional. We are expected to lose over Rs 32,000 crore ($4.5 billion) every day during the lockdown Full Article
india Coronavirus crisis: How will Indian auto industry change post COVID-19 lockdown By www.businesstoday.in Published On :: Tue, 05 May 2020 15:22:06 GMT With most auto-stocks down by nearly 40-70% since February 2020, the post-COVID-19 scenario might see consumers move away from all forms of shared mobility to more personal forms of transport Full Article
india Coronavirus impact: What Indian companies need to do to survive in a post COVID-19 world By www.businesstoday.in Published On :: Thu, 07 May 2020 16:22:25 GMT Companies' success in the next 18 months won't be determined by their growth or profitability, but merely by their ability to survive and not run out of cash Full Article
india Tax-News.com: India To Amend GST Rates On Oil, Gas Industry By www.tax-news.com Published On :: Wed, 11 Oct 2017 00:00:00 GMT India's Goods and Services Tax Council has proposed new GST rates for the oil and gas industry. Full Article
india Super expensive BMW launched in India! Luxury car M8 coupe costs Rs 2.15 crore By www.businesstoday.in Published On :: Fri, 08 May 2020 07:20:03 GMT Both cars come with eight-speed steptronic sport automatic transmission and a host of safety features like six airbags, attentiveness assistance, dynamic stability control, including dynamic traction control, anti-lock braking system and electric parking brake Full Article
india 5 takeaways for Indian investors from Warren Buffett's Berkshire AGM By www.businesstoday.in Published On :: Mon, 04 May 2020 06:36:03 GMT The lesson here is don't marry your stocks. If your original investment thesis fails, you shouldn't shy away from exiting your positions Full Article
india Nearly 550 Dengue Cases Reported in Himachal Pradesh, India By www.medindia.net Published On :: Nearly 550 dengue cases have been reported in Himachal Pradesh, India and especially in Bilaspur, which is Union Health Minister J.P. Nadda's hometown. Full Article
india Tax-News.com: India Cabinet Agrees Cypriot Tax Treaty Changes By www.tax-news.com Published On :: Thu, 25 Aug 2016 00:00:00 GMT The Indian Cabinet on August 24 approved the signature of a double tax agreement protocol with Cyprus that would tackle "round tripping" and base erosion and profit shifting. Full Article
india Tax-News.com: Cyprus, India Tax Treaty To Take Effect In 2017 By www.tax-news.com Published On :: Wed, 28 Dec 2016 00:00:00 GMT The revised double tax avoidance agreement between India and Cyprus will take effect from April 1, 2017, India's Central Board of Direct Taxes has announced. Full Article