 "Finance Ministry, Ministry of Finance")
No TCS on credit card spends overseas, says Ministry of Finance
The Ministry of Finance on Wednesday night extended the deadline for the implementation of a new rule that mandated 20 per cent tax collected at source (TCS) on foreign remittances. The increase in the TCS rate from 5 per cent, which was set to kick in on July 1, would now be effective from October 1. Read more ...
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Sebi tightens disclosure requirements for FPIs, reduces IPO timeline
The Securities and Exchange Board of India (Sebi) on Wednesday tightened the disclosure requirements for foreign portfolio investors (FPIs) in a bid to get a better handle on them and prevent the possible circumvention of minimum public shareholding (MPS) and takeover norms. Read more ...
Trai to update quality of service parameters soon; to meet telcos next mnth
State-level reports every quarter for service quality and artificial intelligence-based solutions may be officially mandated as part of a set of more stringent, updated quality-of-service (QoS) norms by the Telecom Regulatory Authority of India (Trai) soon. Read more ...
A clutch of Indian companies talk supply chain integration with Apple
A clutch of Indian companies is having preliminary talks with Apple to explore the possibility of being part of its supply chain for making iPhone components and other products in India and globally. The companies, many of whom were referred to the Apple by the government, include Mahindra & Mahindra, the Murugappa group (makers of cycle brands like BSA and Hercules), Wipro, EMS player Dixon Technologies, and phone maker Lava International. Read more...
Kempner reviews $250 million loan to edtech firm Byju's amid crises#
Davidson Kempner Capital Management isn’t fully disbursing a $250 million loan it had extended to the ed-tech firm Byju’s as the US hedge fund reviews the lending decision in light of an escalating crisis at the company, according to people familiar with the matter. Read more ...
