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Top 10 business news today: Keeping income tax man away, ‘acqui-hires’, India Inc hails Ubers and Olas, Jackie Collins dead, more

Wed September 23 2015, 8:02 am
  • tax

    Taxpayers facing "high-pitched" assessments or unfair scrutiny by the Income Tax Department can now attempt to get their grievances redressed in a short time before undertaking the arduous litigation route of courts or other appellate mechanisms. (Photo: Reuters)

  • acqui-hires Plat & BigBHK
    In an attempt to further expand its presence in different verticals and strengthen its product portfolio, property portal today announced two 'acqui-hires' Plat and BigBHK. Plat is an online network for agents enabling them to share real estate inventories and requirements, while BigBHK is a property management software (PMS) targeted at rental suppliers, strengthening its supply product portfolio. With these acqui-hires, the company acquires quality talent from premier institutions such as IIT Delhi and BITS Pilani. "The acqui-hires with Plat and BigBHK add immensely to our talent pool which in turn will empower our partners and consumers to better manage their property portfolio ensuring convenience and transparency," CEO and COO Rishabh Gupta said.

  • uber and ola cabs

    India Inc hails Ubers, Olas saying they know best to use assets
    Even as auto makers are voicing concerns over possibility of the Ubers and the Olas eating into their business, India Inc has strongly come out supporting this new disruptive business model, hailing these online taxi apps' ability to utilise assets to the fullest. "My view is that it is a great business model. I think it's truly innovative. There is a new type of industry that is going to come up which is going to squeeze off (the traditional ones)," N Chandrasekaran, who heads TCS. Ajay Piramal has hailed Uber's ability to utilise an asset to the fullest as its biggest strength. Citing the economic benefit of using such taxi-hailing apps, he said running costs can come down by as much as 95 per cent if he opts for the services of Uber or Ola. "I think it's really utilising the unutilised capacity in the system. So, in some ways, you are making the whole world much more productive," Piramal said, adding this model is a win-win for all stakeholders. (Reuters)

  • Jackie Collins

    Renowned novelist Jackie Collins dead
    Renowned novelist Jackie Collins has died of breast cancer at the age of 77, her family said in a statement. The British-born writer passed away yesterday in Los Angeles after she was diagnosed with stage-four cancer six-and-a-half years ago, her spokeswoman said. "It is with tremendous sadness that we announce the death of our beautiful, dynamic and one-of-a-kind mother," the family statement said. Her actress sister Joan Collins told media that she was "completely devastated" following the news of sister Jackie Collins. "She was my best friend," Joan, 82, said. "I admire how she handled this. She was a wonderful, brave and a beautiful person and I love her," Joan added. In a career spanning four decades, Collins sold more than 500 million books in 40 countries across the world. (Reuters)

  • women in business

    Women-led cos more likely to outperform rivals: Report
    Companies with more participation of women at management level have higher possibility of outperforming the rivals, according to Credit Suisse report 'Women in Business'. The report revealed that companies with higher number of women in their board are also likely to give more dividends to their shareholders. "Greater diversity in boards and management are empirically associated with higher returns on equity, higher price or book valuations and superior stock price performance. We find no evidence that female-led companies reflect greater financial conservatism where leverage is concerned. Also, dividend payout ratios have been shown to be higher," the report said. (Reuters)

  • singapore tourism

    Singapore most preferred destination for Indian travellers
    Singapore has secured the top position in the list of most preferred overseas destination for Indian travellers in first half of this year, replacing Dubai, a's Hotel Price Index (HPI) survey said. According to the recent survey, Singapore, also called the 'Lion City', topped the chart rallying ahead of Dubai which was at the top spot on the list during the same period last year. The data is drawn from bookings made on the thousands of hotels on the websites worldwide. UAE's populous city Dubai secured the number two position this year followed by Bangkok (Thailand). The US and UK continue to enthrall Indian travellers as London and New York retained their fourth and fifth spot, respectively. (Reuters)

  • dish tv cable

    Govt mulls raising FDI cap to 100 pc in DTH, cable networks
    Government is considering a proposal to raise FDI limits to 100 per cent in broadcasting carriage and content services, including DTH and cable networks, aimed at attracting overseas investment and improve infrastructure. An inter-ministerial committee is considering FDI proposals, including hiking foreign direct investment cap in cable networks, direct-to-home (DTH), Mobile TV, HITS (Headend-in-the Sky Broadcasting Service) and Teleports to 100 per cent, from 74 per cent at present, sources said. In case of broadcasting content services - uplinking of news and current affairs TV channels, the proposal under discussion is to raise the limit to 49 per cent from the present 26 per cent, they said. (Reuters)

  • online child abuse

    Govt plans new body to crack down on child porn, online abuse
    Tackling child pornography and online abuse will be the top priority of a highly sophisticated centre to be set up by the government to deal with cyber crime. The initiative comes after an expert committee constituted to prepare a roadmap for effectively tackling cyber crime submitted its report to the Home Ministry. According to the recommendations of the committee, there is a need to drastically reduce crimes against children and women, especially online abuse. A Rs 400 crore cybercrime control hub, to be called 'Indian Cyber Crime Coordination Centre' (IC4), will be set up to check all cyber crime, including child pornography and online abuse, as per the recommendations of the committee. (Reuters)

  • ravi shankar prasad

    BJP hits out at Congress, asks if 'Vadra model of development' was better
    Hitting back at Congress for calling the Narendra Modi government "anti-farmer", the Bharatiya Janata Party (BJP) questioned the alleged land deals involving Sonia Gandhi's son-in-law Robert Vadra in Haryana and Rajasthan and asked if they were in the interest of the farming community. Union minister and BJP leader Ravi Shankar also hit out at Rahul Gandhi for "take in India" remarks in which he said Modi's "Make in India" has no place for the farmers and the poor. "Rahul Gandhi has become an expert in talk with light substance (halki baat). (He says) it is not 'Make in India' but 'take in India'. Rahulji, 'take in India' happened the most in your (UPA) rule," he said. (PTI)

  • airports

    'High airport charges unlikely to impact air fares'
    Higher airport charges are unlikely to have a major cascading impact on air fares as it accounts for less than 10 per cent of a carrier's operating costs, according to sources. While the quantum of airport charges has been a matter of debate in the country, where the aviation sector has high growth potential, the government is now looking at ways to address the issue of high air fares, especially during festive seasons. An analysis of the financials of airlines indicates that airport charges are not a major cost factor as it accounts for less than 10 per cent of the carriers' operating costs, according to airport sources. Passing on the reduction in air fuel prices to passengers would result in low air fares substantially while a cut in airport charges is unlikely to have a major impact, they added. (Reuters)

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