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Adani Gas down 74% in 6 months, Serum Institute most valued unlisted firm The valuation of Adani Group’s eight companies have more than halved in the six months to April 2023 against just a 6 per cent decline in the top 500 non-government companies, according to the ‘Burgundy Private Hurun India 500-Special Report’, a list of the 500 most valuable ...

Credit card users may have to declare forex transactions to banks The tax department is considering a proposal under which credit card holders will have to file a declaration with the issuer entity within a stipulated time, specifying the nature of expenses incurred in foreign currency for the purpose of TCS levy, sources said.   The I-T department is ...

Govt proposes rates for third party motor insurance premium for FY24 The government on Tuesday proposed new base premium rates for third-party motor insurance for different categories of vehicles, including two-wheelers, passenger cars, and commercial vehicles, for 2023-24 fiscal year. According to a draft notification issued by the Ministry of Road Transport and Highways (MoRTH), the base premium rates for ...

Tweaking banks’ key regulatory need may ease interbank cash mkt volatility By Dharamraj Dhutia and Swati Bhat MUMBAI (Reuters) – A slight tweak to a key regulatory requirement for Indian banks could help reduce volatility in the overnight interbank borrowing rates, senior bank treasurers said on Tuesday. The weighted average interbank call money rate has been above ...

Know how to pay penalty here The Income Tax (I-T) Department extended the deadline for linking Aadhaar with PAN card last month. Taxpayers who have not yet linked their Aadhaar with PAN are advised to complete the 1process by June 30 to avoid the deactivation of their PAN card. “In order to provide some more time to the taxpayers, ...

HDFC sells education loan arm HDFC Credila to PE firms for Rs 9,060 crore A consortium of private equity firms, including BPEA EQT and ChrysCapital, has acquired a 90 per cent stake in HDFC Credila Financial Services for Rs 9,060 crore, HDFC Ltd said.   The sale of HDFC Credila, the education loan arm of the Housing Development and ...

Compromise settlement provides ways to lenders to recover lost money: RBI The Reserve Bank of India (RBI) said on Tuesday that a “compromise settlement” with borrowers aims to enable multiple avenues to lenders to recover the money in default without much delay. The RBI made the remarks while issuing a set issued a set of frequently asked questions ...

Errors, changes in payment terms, or disputes may require updates to the original journal entries to ensure your AR balance and financial statements are correct. The business needs to track each installment if the customer is on a payment plan. Each payment would follow the same process of debiting cash and crediting accounts receivable. This ensures the business can monitor ...

Filing ITR without taxable income: Details on benefits, advantages The Income Tax (I-T) Department has opened its portal for individuals to file their income tax returns (ITR) for the assessment year 2023-24, which covers the Financial Year 2022-23 (FY23). The deadline for filing the return is July 31, 2023. Some salaried individuals have an assumption that they don’t need ...

India Inc feels time ripe for next phase of GST reform: Deloitte Survey Indian economy to grow 6.5% in FY24; CAD may widen further: Economic Survey Global tax reform may add $250 bn a year to public coffers, estimates OECD Irdai’s recent reforms will help expand the market Checkmate for Chinese firms in India’s growing reinsurance market Cabinet reshuffle: Arjun ...