Paytm’s parent One97 Communications on Saturday reported a loss of Rs 461 crore for the quarter ended September 2021 compared to Rs 390 crore in the corresponding quarter last year and Rs 394 crore in the previous quarter ended June 2021. Losses widened on the back of a 40% jump in expenses in the second … Continue reading Paytm reports 461cr loss for quarter ended September
All international passengers, except those under five years of age, flying into India from Covid at risk countries will have to undergo RT-PCR testing on arrival starting 12.01 am (IST) on December 1, 2021. This will include those transiting from these places too. Those testing negative will need to be home quarantined for seven days … Continue reading Omicron protocol: RT-PCR must for all arrivals from at risk countries starting Dec 1
The finance ministry is ready to offer tax benefits for direct listing of shares overseas as well as for settlement of bonds, which are part of global indices via Euroclear, but is holding consultations with the ministry of corporate affairs and the RBI to ensure that capital gains exemption, that has been proposed, does not … Continue reading Tax benefits planned for overseas listing
The Reserve Bank of India’s decision to keep corporates away from bank licences will help the government sidestep allegations that it is selling banks to big business. However, the number of prospective buyers for public sector banks will shrink. In the absence of any deep-pocketed corporate house, the bidders for PSU banks would have to … Continue reading Corp exclusion from banking shrinks buyer pool for PSBs
In a recent order, the Income-Tax Appellate Tribunal (ITAT), Mumbai bench, has held that purchase of a flat by a non-resident using his overseas income is an act of investing or application of income. It is distinct from earning an income in India from immovable property and the sum invested cannot be subject to tax … Continue reading ‘Foreign funds invested in India can’t be taxed as unexplained income’
India appears to be the flavour of current times for recruiters globally with Indian talent the most sought after amid a rise in cross-border hiring. Jobs from various global markets are being outsourced to skilled talent in India, and this is not restricted to IT alone.