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    1. Business News
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    3. fe bureau

    FE Bureau

    The prepayment would likely result in interest cost savings of around Rs 3,400 crore over the residual life for fully substituted capital, the company said.
    2014 auction: Bharti pays Rs 15,519-crore spectrum dues

    Bharti’s net debt at the end of the September quarter stood at Rs 1.66 lakh crore.

    By FE Bureau
    December 18, 2021 06:00 IST
    The overall advance/decline ratio also turned mainly negative as only 993 shares advanced and 2,353 shares declined on the BSE.
    Markets tank as investors get spooked by hawkish central banks

    Sustained selling from FIIs, rising Omicron cases further hurt the sentiment

    By FE Bureau
    December 18, 2021 05:00 IST
    These cases mainly pertained to arithmetical errors in computation of income and tax, errors in levy of interest, irregularities in allowing depreciation/business losses/capital losses, irregular exemptions/ deductions/ rebates/ relief/MAT credit, incorrect allowance of business expenditure, income not assessed/under assessed under normal provisions, etc," it said.Out of 356 high value cases, CAG has illustrated 38 instances of significant errors/irregularities in Corporation Tax assessments involving tax effect of Rs 3,976.56 crore.CAG said application of incorrect rates of tax and surcharge, errors in levy of interest, excess or irregular refunds "point to weaknesses" in the internal controls in the Income Tax Department (ITD) which need to be addressed.It said that while the finance ministry has taken action to initiate correction in the cases pointed out by the Audit, it may be mentioned that these are only a few illustrative cases, test checked in audit.
    Advance tax collections rise 50%

    The gross direct tax collection (before refunds) stood at Rs 10.8 lakh crore as on December 16, 2021, showing a…

    By FE Bureau
    December 18, 2021 04:30 IST
    He said the kit is fast and cost-effective, and has been approved by the Indian Council for Medical Research with 100% sensitivity and specificity.
    GenePath Diagnostics kit detects Delta, Omicron variants

    The indigenously developed CoviDelta kit detects all current variants of Covid-19 and flags presumptive Delta and Omicron variants in a…

    By FE Bureau
    December 18, 2021 03:30 IST
    Shares of HDFC Bank, PNB, ICICI Bank, and Kotak Mahindra Bank advanced up to 1.4%. RBL Bank ended being the top loser in the index.
    RateGain Tech falls 20% on listing day

    The stock listed at Rs 360 on the NSE, a 15% discount against its issue price of Rs 425.

    By FE Bureau
    December 18, 2021 02:20 IST
    The  pandemic is entering a worrying phase with the winter season, festivals and an increase in tourism activities, and there is a need for profound caution, Paul said.
    Omicron case tally at 101, govt advises against non-essential travel

    VK Paul, member, health, Niti Aayog, said the situation in many parts of the world has worsened in the last…

    By FE Bureau
    December 18, 2021 01:45 IST
    Bank of England
    Bond yields rise after Bank of England rate hike

    The central bank awarded a higher cut-off yield at the weekly bond auction, due to sluggish demand from foreign banks…

    By FE Bureau
    December 18, 2021 01:30 IST
    The board on Friday also reviewed the current domestic and global economic situation, evolving challenges and remedial measures.
    RBI central board discusses CBDC, crypto

    The regulation of private cryptocurrencies has become an area of focus of late, with the central bank warning the government…

    By FE Bureau
    December 18, 2021 00:30 IST
    kia carens unveiled
    Kia India pegs 2022 sales growth at 33 percent

    Kia India is targeting to augment its overall sales by more than 33% in 2022. Kia India is also aiming…

    By FE Bureau
    December 17, 2021 08:52 IST
    EV sector likely to see Rs 94,000-crore investments in next 5 years: Report

    EV segment in India is likely to witness investments of $12.6 billion (Rs 94,000 crore) across the automotive value chain,…

    By FE Bureau
    December 17, 2021 08:48 IST
    MG ZS EV Facelift
    Pune’s EV Cell puts in place plan to drive adoption

    Pune is among the first Indian cities to operationalise an EV Cell to drive adoption of electric vehicles.

    By FE Bureau
    December 17, 2021 08:43 IST
    jindal stainless
    Jindal Stainless launches branded stainless steel variant of chequered sheets

    Currently, the chequered sheet market is of about 2 lakh tonne per annum and is being catered to by mild…

    By FE Bureau
    Updated: December 17, 2021 08:34 IST
    kumar mangalam birla
    Kumar Mangalam Birla bags Global Entrepreneur of the Year Award

    Birla joins an exclusive list of global entrepreneurs to receive the award this year that include Elon Musk (Global Entrepreneur…

    By FE Bureau
    Updated: December 17, 2021 08:44 IST
    supreme court
    SC asks Damodar Valley to return Rs 354-cr bank guarantees to RInfra

    In a relief to Reliance Infrastructure, the Supreme Court on Thursday asked Damodar Valley Corp (DVC) to return bank guarantees…

    By FE Bureau
    December 17, 2021 08:21 IST
    wipro
    Wipro to acquire LeanSwift Solutions for $21 million

    Wipro will get 100% stake in LeanSwift in a full cash transaction worth $21 million, expected to be completed before…

    By FE Bureau
    Updated: December 17, 2021 08:15 IST
    Earlier this month, chief economic advisor Krishnamurthy V Subramanian told FE that private investment is gathering pace and would see a spurt once pandemic-induced uncertainties subside.
    Investment proposals worth $121 bn in the pipeline

    India reported a record FDI inflow of $82 billion in FY21 despite the pandemic. FDI inflows in the last seven…

    By FE Bureau
    December 17, 2021 07:33 IST
    Accordingly, it has recommended that all social media platforms, which do not act as intermediaries, be treated as publishers and be held accountable for the content they host.
    In Parliament: Panel bats for social media regulation in data protection law

    Retains clause to exempt govt agencies from the provisions of law

    By FE Bureau
    December 17, 2021 07:01 IST
    Revenue secretary and other officials of the finance ministry on Thursday held a meeting with a team from vendor Infosys, headed by its MD and CEO Salil Parekh, on the preparedness of the e-filing website during the peak filing period.
    3.59 crore IT returns e-filed so far

    Infosys has taken various steps, including augmenting the technical infrastructure and setting up a dedicated war room to monitor the…

    By FE Bureau
    December 17, 2021 06:30 IST
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