Economy

541 start-ups get angel tax relief

The government has granted exemption to 541 start-ups so far from the so-called angel tax, Department for Promotion of Industry and Internal Trade (DPIIT) secretary Ramesh Abhishek said on Monday.

angel tax, angel tax relief, tax News

Govt weighing scheme for fast refund of levies to exporters

The US has alleged that the MEIS is not in sync with global trade norms.

export, import, wto, world trade organisation News

BSNL likely to pay May salary on time

The company has recently tied up with State Bank of India for a Rs 1,500-crore loan to meet its working capital requirements, based on a letter of comfort extended by Department of Telecom.

bsnl, telecom sector, telecom industry News

Ingen resolution plan for Orchid Pharma rejected again

Orchid said the company has received a total of three resolution plans and the CoC, the RP and the bid process advisor had deliberations on the plans.

nclat, jsw steel, steel sector, steel industry News

IndiGo CEO says gains from Jet Airways’ grounding to fade from June

IndiGo chief operating officer Prock-Schauer said the airline has hired 285 pilots from Jet.

indigo, aviation sector, aviation industry News

Most biz leaders, workers think AI will help them: Microsoft-IDC study

The study surveyed 200 business leaders and 202 workers in India.

Industry News

Sistema.bio raises $12 million in Series A round of funding

Sistema entered India through the acquisition of a startup, Sustain Earth Energy Solutions, floated by Piyush Sohani and Koushik Yanamandram, which has become a subsidiary of Sistema.

Sistema, sme industry, sme sector News

Before Modi’s new term begins, textile traders demand garment hub near Surat

The size of textile industry in Surat is pegged at Rs 80,000 crore, giving employment to lakhs.

textile, textile industry, gst News

Increase in investment would improve business sentiment

Past studies have established a close linkage between the rising manner of uncertainty and the decline in economic growth.

non food credit, economy growth News

PM Kisan to add two crore beneficiaries in first 100 days of Modi govt

The government is likely to agree to the demand since it will reduce the expenditure on construction of godowns, sources said.

Economy News

Indian statistical system should be revamped, modernised, aligned with world’s statistical system, says Niti Aayog

Recently, several experts including former RBI Governor Raghuram Rajan and former chief economic advisor Arvind Subramanian had expressed doubts over India's revised economic growth data.

Economy News

Kerala floats e-bus tenders, eyes Centre’s subsidy

The new stipulation is that the bidder should guarantee that the battery-powered e-bus will run for 250 km in a single charge and the mileage should be a minimum of 1.5 kWh/km.

Industry News

Government scraps aid to 53 small hydro power projects

The identified potential for power generation from small hydro projects across the country is around 21,135 MW.

Industry News

Crackdown on shell firms: Rules amended to ensure stricter compliance

Gaurav Mohan, CEO of AMRG & Associates, noted that this would push the corporate governance to next level and would hold all directors directly responsible for non-compliance by a company in filing AC

Economy News

GSTN launches prototype for new return filing system

Further, the new system will also simplify return-filing for businesses with zero sales as they would now be required to file one ‘nil’ return for the entire quarter.

Economy News

Centre looking to ‘insulate’ discoms from payment delays

As FE recently reported, UDAY discoms reported financial losses of `21,658 crore at the end of FY19, up 44% year-on-year, reversing the declining trend since the scheme for these entities’ revival w

Economy News

CBDT for more exhaustive tax audit report for charitable trusts

The draft notification has been put in the public domain and stakeholders have time till June 5 to submit their views. The proposed changes will extend the audit form to 8 pages from 3 pages earlier.

CBDT, Form 24Q, Form 16, ITR,income tax return,TDS certificate News

Real estate firms in a tough spot after Maharashtra AAR ruling

The applicant in the case said it is engaged in the business of ‘facility management’.

Real estate firms, Maharashtra AAR ruling , GST, electricity, cooking gas, GST on utility charges, AMRG & Associates News

SC stays Delhi HC order disallowing black money law to operate retrospectively

The Vacation Bench led by justice Arun Mishra sought response within six weeks from Khaitan against whom a black money case has been lodged.

Supreme Court,  Black Money Act, Delhi High Court, VVIP chopper scam, AgustaWestland VVIP chopper scam, Gautam Khaitan News

Black money law: Govt moves SC against stay on proceedings against Khaitan

Khaitan argued that the amendment to Section 1(3) to state that the Act would come into force from July 1, 2015, instead of April 1, 2016, was done in exercise of power under Section 86 of the Act.

Black money, Black money law, supreme court, Khaitan,Black Money Act, industry news

WhatsApp, Skype regulatory framework: Trai decision within a month

With the growth of data, OTTs have become partners of telecom operators and therefore, even the telcos are not supporting tough regulations or charging of licence fees etc. but there should be some ki

WhatsApp, Skype, regulatory framework, TRAI, over-the-top, industry news

Cheap thrills: Refurbished mobile imports certified by BIS get govt nod

India has finally allowed import of refurbished or second mobile phones, subject to the condition that they are certified by the Bureau of Indian Standards (BIS).

The certifying body will be hamstrung due to lack of uniform standards for second-hand phones News

SC vacates order granting protection from arrest to ex-Kolkata police chief

In a setback to former Kolkata Police commissioner Rajeev Kumar in the Saradha chit fund scam, the Supreme Court on Friday vacated its February order that had granted him protection from arrest by the

A Bench headed by Chief Justice Ranjan Gogoi said its February 5 order granting interim protection to Kumar will continue for seven days from Friday so that Kumar can approach the competent court for a legal remedy. News

New govt must undertake reforms in land, labour, capital: NK Singh

With committed expenditures rising and tax revenues slowing down, the Centre extended by a year (to FY21) adherence to the 3% fiscal deficit target set under the Fiscal Responsibility and Budget Manag

15th Finance Commission chairman NK Singh News

CBI withdraws Bofors probe plea, court says surprised

A Delhi court Thursday allowed the CBI to withdraw its application to further investigate the alleged Bofors payoff case, but said it was “surprised” by the stand of the investigating agency.

The court also observed that the CBI can place all files related to the case in the court only if they wish to proceed in the matter. News

Number of non-compliant NBFCs sees big fall: Data

The Financial Intelligence Unit (FIU) under the finance ministry has issued a list of 2,337 non-compliant non-banking finance companies (NBFCs) for the cut-off period of March 31, 2019, the number bei

The finance ministry in March 2018 had asked non-compliant NBFCs which did not fulfill their obligations under PML rules to do so and register with the FINnet portal of FIU-IND. News

GST rate on homes: Most builders opt for 12% GST for ongoing projects

Most real estate developers have opted for 12% GST rate for housing units in ongoing projects as it allows them to retain their profit margin due to availability of input tax credit (ITC), analysts sa

Economy News
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