Revenue-Tax division to share account knowledge with intel, probe businesses

The current notification will allow the tax division to share info of a taxpayer which is perhaps related for the notified enforcement businesses. The Central Board of Direct Taxes (CBDT)…

India needs further economic reforms to attract more investment, IMF says

The remarks by International Monetary Fund’s Chief Spokesperson Gerry Rice on Thursday came in response to a question on the recent FDI announcements made by global giants like Facebook and…

No direct monetisation plan yet: DEA Secy

While data from various agencies, including World Bank and IMF suggest GDP contraction this year, the economy is expected to recover sharply next year, indicating a V-shaped recovery, he said.…

No free lunches: Raghuram Rajan says monetisation by RBI has a cost and cannot be everlasting

The former RBI Governor said central banks in many emerging markets are resorting to such strategies and disagreed with votaries of the “modern monetary theory” who support this, making it…

Cash-rich Mumbai powers mutual funds, other cities see decline

Experts say that as markets fell amid the pandemic, large investors in Mumbai deployed their funds in sector-oriented and gilt funds, among others. With markets impacted by the Covid pandemic…

E-commerce platforms have to display country of origin on imported products: Centre to HC

The central government had filed an affidavit which said that according to the Legal Metrology Act and Rules e-commerce sites have to ensure country of origin is displayed on the…

Green shoots visible, interventions can happen in future: Nirmala Sitharaman

She also said that no sector will be in exclusive control of public sector and PSUs will be present only in pre-determined strategic sectors. Stating that signs of economic recovery…

45 cos add 21 lakh retail investors in June quarter; highest inflows in pharma, FMCG, banking

While 41 companies in the list of 45 saw an increase in retail investor base, only four witnessed a decline during the quarter. Of the 100 most valuable companies in…

FM Sitharaman: Consensus-based solution to digital taxation should be simple and inclusive

India — in amendments to the Finance Act, 2020 in March-end — had expanded the ambit of the equalisation levy for non-resident e-commerce operators involved in supply of services, including…

India considers plan to store oil in US; inks MoU for cooperation on strategic petroleum reserves

The two countries signed a memorandum of understanding (MoU) to begin cooperation on operation and maintenance of strategic petroleum reserves, including exchange of information and best practices, a joint statement…