Green card: US House OKs bill ending country cap

This post was originally published on this siteThe US lawmakers on Wednesday passed a bill aimed at lifting the current seven percent country cap on issuing green cards, a development which would benefit thousands of highly-skilled Indian IT professionals. The new bill seeks to increase seven per cent per country limit to 15 per cent. … Read moreGreen card: US House OKs bill ending country cap

I-T disputes of Rs 5.7L cr tied up in pending cases

This post was originally published on this siteFor the current financial year 2019-20 (FY20), the Central Board of Direct Taxes, or CBDT, will continue to focus on litigation management. Income tax (I-T) disputes aggregating to a demand of Rs 5.71 lakh crore were pending at the level of the first appellate authority as of March … Read moreI-T disputes of Rs 5.7L cr tied up in pending cases

PSU banks lose ground in corporate banking

This post was originally published on this siteNationalised banks are losing market share to private banks. Not just in deposits and credit, they are also rapidly losing their position as lead bank — the lender which calls the shots in lending to businesses — in many corporate relationships. While most corporates have multiple banking relationships, … Read morePSU banks lose ground in corporate banking

Global IT spending to remain flat in 2019: Report

This post was originally published on this siteThe Information Technology (IT) sector is bearing the brunt of the global downturn with guidance to ‘industry spends’ growth getting lowered to 0.6% from 3.2% in January, as per the latest Gartner estimates. Overall IT spending recorded a growth of 5% in 2018, and 3.8% in 2017. Please … Read moreGlobal IT spending to remain flat in 2019: Report

With 40,000, TCS is one of US’s biggest job creators

This post was originally published on this siteTata Consultancy Services (TCS) is one of the top job creators in the US, Milind Lakkad, the company’s global HR head said. He did not disclose any numbers, but sources told TOI the company has about 40,000 people in the US, almost 10% of its total workforce and … Read moreWith 40,000, TCS is one of US’s biggest job creators

Indigo promoters’ spat: Bhatia counters Gangwal’s charge

This post was originally published on this site Rahul Bhatia’s InterGlobe Enterprises (IGE) on Wednesday countered IndiGo co-founder Rakesh Gangwal’s charges about the airline entering into related party transactions (RPTs) with IGE Group companies. The Bhatia Group said these RPTs were disclosed at the time of IPO in 2015 and “materiality of the transactions for … Read moreIndigo promoters’ spat: Bhatia counters Gangwal’s charge

Twitter moves to curb hate speech based on religion

This post was originally published on this siteIn a policy update on Tuesday, Twitter said it would take down “dehumanising language” that targets specific religious groups. Examples shown by Twitter that would be removed would be a description of members of a religion as “disgusting” or “filthy animals.” Tweets that break the new rule will … Read moreTwitter moves to curb hate speech based on religion

When Sitharaman spoke like a ‘teacher’ in LS

This post was originally published on this siteUnion finance minister Nirmala Sitharaman, who presented her first Budget last week, generally appears to be very mild and calm but when it comes to putting across her viewpoint, she can be very firm like a “teacher”. One such incident happened in Lok Sabha on Wednesday when she … Read moreWhen Sitharaman spoke like a ‘teacher’ in LS

‘FPIs can opt corp route to avail lower surcharge’

This post was originally published on this siteCBDT chairman P C Mody on Wednesday ruled out giving relaxation to FPIs from the ambit of increased surcharge, saying that foreign investors have an option to convert into a corporate entity to avail of lower rates available to such category. He said the consideration for increasing surcharge … Read more‘FPIs can opt corp route to avail lower surcharge’

Direct tax collection target achievable: CBDT chief

This post was originally published on this siteCBDT chief Pramod Chandra Mody has said that the re-calibrated target of direct taxes at Rs 13.35 lakh cr is difficult but achievable. In the last revised estimates, the target (for 2019-20) was fixed at Rs 13.78 lakh cr which was deemed as unrealistic as it was showing … Read moreDirect tax collection target achievable: CBDT chief

Deposits in Jan Dhan accounts cross Rs 1 lakh crore

This post was originally published on this siteDeposits in bank accounts opened under Jan Dhan scheme, launched about five years ago by the Modi-government, have crossed the Rs 1 lakh crore mark. As per the latest finance ministry data, the total balance in over 36.06 crore Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts was at … Read moreDeposits in Jan Dhan accounts cross Rs 1 lakh crore

Walmart got a $10bn surprise after buying Flipkart

This post was originally published on this siteWhen Walmart Inc paid $16 billion for control of India’s e-commerce pioneer Flipkart Online Services Pvt last year, the American retail giant got a little-noticed digital payments subsidiary as part of the deal. Now the business is emerging as one of the country’s top startups, a surprise benefit … Read moreWalmart got a $10bn surprise after buying Flipkart

As tech simplifies tax compliance, CAs worry

This post was originally published on this siteThe Union Budget proposals to simplify tax compliance, while good for tax payer, is causing worry to a section of the Chartered Accountancy (CA) professionals. From pre-populating income tax returns, raising annual turnover limit to Rs 5 crore for quarterly GST returns, and offering free accounting software for … Read moreAs tech simplifies tax compliance, CAs worry

‘If BJP believes in parliamentary democracy, it should offer leader of opposition position to the single largest party’

This post was originally published on this siteRevolutionary Socialist Party’s NK Premachandran has been appointed to Lok Sabha Speaker’s panel despite being his party’s only parliamentarian, a unique distinction. He speaks to Swati Mathur about it and the challenges faced by Congress,… Please follow and like us: