Global News

[ad_1] New Delhi: Good news for corporates! The Central Board of Direct Taxes (CBDT) has extended the deadline for filing income tax returns for the Assessment Year 2024-25. Originally set for October 31, 2024, the new deadline is now November 15, 2024, according to the Ministry of Finance. This extension applies to income tax returns for the fiscal year 2023-24, now due by November 15. This follows a recent government move to extend the deadline for submitting tax audit reports to October 7, 2024, from the original deadline of September 30, 2024. Specific taxpayers under income tax law are required to complete an income tax audit and submit the report by September 30 of the assessment year. Sandeep Jhunjhunwala, tax partner at Nangia Anderson LLP clarified that this extension doesn’t affect deadlines for the Tax Audit Report, transfer pricing certification in Form 3CEB, or other forms like Form 10DA, which will still need to be submitted by October 31, 2024. Rajat Mohan, Se...

[ad_1] KARACHI: The most valuable quality that a socially conscious and responsible business can demonstrate to its stakeholders is its understanding that profits cannot be achieved without integrating people and the planet into its purpose. A rise in this approach can be observed in how organisations are rethinking their approach to conventional CSR. They are endeavouring to infuse sustainability with their strategic objectives, thereby improving environmental, social, and governance (ESG) reporting. Due to the pressure from investors, regulators, and consumers, corporates are shifting their products and processes to become more sustainable and inclusive, and tangibly reflecting on how they are contributing to the realisation of the Sustainable Development Goals (SDGs). SDGs serve to prompt governments, the public sector, and society at large to put ethical and pressing issues at the heart of policy, processes, and decision-making. The goals function as a set of guiding pri...

[ad_1] Edited By: Mohammad Haris Last Updated: January 09, 2023, 18:55 IST TCS has announced its Q3FY23 results. (Photo: News18 Hindi) TCS' IT services attrition rate stood at 21.3 per cent during the December 2022 quarter, which was marginally better 21.5 per cent in the previous quarter India’s largest IT services company TCS’ headcount during the December 2022 quarter fell by 2,197, according to its regulatory filing on Monday. Its workforce strength as of December 31, 2022, stood at 6,13,974. However, the attrition rate of its IT services segment stood at 21.3 per cent during the December 2022 quarter, which is marginally better than 21.5 per cent in the previous quarter. TCS headcount has declined for the first time in 10 quarters. A contraction in the company’s net employee addition was last seen in the June 2020 quarter, which was the first full quarter after the pandemic was declared in March 2020. Milind Lakkad, chief HR Officer, said, “Our focus over the last few qua...

[ad_1] To ensure easy and adequate credit availability to the MSME sector, the State Bank of India ( SBI ) is planning to enhance the threshold under the instant loan scheme from the existing Rs 5 crore. 'MSME Sahaj - End to End Digital Invoice Financing ', provides solutions ranging from applying for the loan, documentation and disbursement of the sanctioned loan within 15 minutes, without any manual intervention. "We have, last year, introduced a business rule engine based, data based assessment of the credit limits up to Rs 5 core. Anybody walking into our MSME branch has to give only their PAN and approval for sourcing GST data, we can give approval in 15-45 minutes," SBI Chairman C S Setty told PTI in an interview. Simplification of the MSME credit is something that the bank is emphasising on and making lending cash flow based backed by the CGTMSE guarantee, he said. This reduces the need for collateral, which would enable a lot of people to come into th...

[ad_1] In a praiseworthy incident, IRCTC acted swiftly after a Twitter complaint against a tea vendor and returned the money back to a journalist after he narrated his ordeal of getting conned while taking a train journey. As per a tweet, a journalist was travelling on an Indian Railways train when he asked for a cup of tea from a vendor. While the cup of tea costs Rs 10, the man paid the vendor a Rs 20 note. The tea seller said he doesn't have change and will return Rs 10 in a while, but failed to return back the money to the journalist. When chased for money, the journalist was informed by other vendors that this tea seller has a habit of conning people on the trains in the name of returning back the money. Since it's a small amount, travellers usually give up the chase.  @IRCTCofficial @IRCTCofficial IRCTC Tea Vender looting people? Purchased tea for 10. Paid 20. The vender said will return and pay back the change. But it didn't happen. The question is not o...

[ad_1] Tiger Woods of the United States and Rory McIlroy of Northern Ireland walk to the 11th fairway during a practice round prior to the 2023 Masters Tournament at Augusta National Golf Club on April 03, 2023 in Augusta, Georgia.  Christian Petersen | Getty Images Sport | Getty Images Tiger Woods and Rory McIlroy's indoor golf league, TGL, has postponed its inaugural season by a year until the start of 2025, the organization said Monday. The decision comes after the roof of the new arena slated to host TGL matches collapsed last week . The league said the power system used during construction of the SoFi Center in Palm Beach Gardens, Florida failed, causing a dome structure to deflate. The accident did not cause injuries or damage the league's golf simulators and other technology, TGL said. But TGL delayed the season, which was expected to start in January, after speaking to key partners. "This decision came after reviewing short-term solutions, potential constructi...

[ad_1] The regulator finds evidence information may be being swapped, which could affect selling prices. [ad_2] Source link https://worldnews2023.com/business/housebuilders-face-probe-from-competition-watchdog/?feed_id=330776&_unique_id=678153892714d

[ad_1] NEW DELHI: Adani Ports and Special Economic Zone Ltd (APSEZ) on Saturday said it has completed the acquisition of Karaikal Port Pvt Ltd (KPPL) pursuant to National Company Law Tribunal (NCLT) approval. Earlier, APSEZ was declared a successful resolution applicant under the Corporate Insolvency Resolution Process (CIRP) of KPPL. Karaikal Port is an all-weather deep-water port in Puducherry with five operational berths, three railway sidings, total land area of over 600 hectares and a built-in cargo handling capacity of 21.5 MMT. "Acquisition consideration of Rs 1,485 crores implies an EV/EBITDA multiple of 8x on the FY23 estimated numbers," APSEZ said in a statement. According to the statement, the port is in proximity to the containerized cargo-originating industrial centres of Tamil Nadu, and the upcoming 9 MMTPA CPCL refinery. APSEZ CEO and whole-time director Karan Adani said, "With the acquisition of Karaikal port APSEZ now operates 14 ports in India. ...

[ad_1] SYDNEY: Index provider MSCI said it has cut the free-float designations of four securities of India's Adani group , a move which analysts have warned could impact their index weightings. MSCI said in a statement it has reduced the free floats of Adani Enterprises, Adani Total Gas, Adani Transmission and ACC. The remaining companies' free floats will remain the same. Adani did not immediately respond to a request for comment from Reuters. The four companies for which the free float designation change was announced had a combined 0.4% weighting in the MSCI emerging markets index as of January 30. The changes come into effect on March 1. Billionaire Gautam Adani has seen some $110 billion wiped off the value of seven firms in the group he founded after US short seller Hindenburg Research accused it of improper use of offshore tax havens and stock manipulation. Adani has denied any wrongdoing. Analysts had said a change in free float status could affect the weighti...

[ad_1] A Southwest Airlines plane takes off from Hollywood Burbank Airport in Burbank, California, July 25, 2024. Mario Tama | Getty Images Southwest Airlines and American Airlines raised their fourth-quarter forecasts on Thursday, citing strong demand and higher fares, sending shares in the carriers higher. Southwest said in a securities filing that fourth-quarter unit revenue will likely rise between 5.5% and 7% from last year, up from a previous forecast of an increase of no more than 5.5%. The airline said its network changes aimed at culling unprofitable flights are paying off and that demand into next year appears solid. "The Company is encouraged by recent revenue trends and forward bookings, including fourth quarter holiday travel, and currently expects strong revenue trends and tactical initiative performance to carry into 2025," Southwest said. Southwest also said it would complete its first sale-leaseback of aircraft in the first quarter. Read more CNBC air...

[ad_1] DXC Technology is a Business Reporter client. Banking is a risky business. Financial institutions are selling trust – difficult to earn and, once lost, very hard to regain. Consider, for example, the  fraudulent accounts scandal  at a major West Coast bank, which is still trying to rebuild trust years after the transgression took place. To avoid discredit, unexpected penalties and personal jeopardy to executives accountable for misconduct in their responsibilities, banks build risk appetite – the amount and type of risk they’re willing to take to meet strategic objectives – into their  data metabolism , with heightened alertness to ensuring trustworthy outcomes in the regulated environments in which they operate. Their data strategy must be robust, rigorously tested and vigorously challenged in technical and architectural review processes, demonstrating the business value of an objective – increasing hyper-personalisation initiatives, pushing out end-to-end automation or c...

[ad_1] With nine minority head coaches lined up to lead NFL teams in 2024, the Rooney Rule is having one of its best years ever. The question now is whether the hiring practice — and its progeny in corporate America — will stay in the game much longer amid a wave of legal challenges to workplace diversity, equity and inclusion (DEI) initiatives. On Tuesday, a conservative legal nonprofit filed a federal civil rights complaint against the NFL, alleging that the rule is illegal. “If the National Football League truly wants to end discrimination in the employment process, then the NFL should stop discriminating in the employment process, follow the meritocratic system it displays on the field, and eliminate the Rooney Rule,” said Ian Prior, a senior adviser with America First Legal, the nonprofit founded by former Donald Trump adviser Stephen Miller. Through a spokesperson, the NFL said that it looks “forward to responding to this complaint and demonstrating that our policies and pr...

[ad_1] It comes as X's owner Elon Musk had earlier called child safety his number one priority. [ad_2] Source link https://worldnews2023.com/business/australia-fines-x-for-failing-to-crack-down-on-child-abuse-content/?feed_id=330564&_unique_id=677ee8bb3838e

[ad_1] Tesla is due to host an event promoting the first deliveries of its new "cybertruck". [ad_2] Source link https://worldnews2023.com/business/will-teslas-truck-recover-from-its-shattering-start/?feed_id=330457&_unique_id=677db3436d590

[ad_1] Enfimil infant formula, made by Mead Johnson Nutrition Co., sits on display in a supermarket in New York, U.S. Daniel Acker | Bloomberg News | Getty Images Baby formula maker Reckitt Benckiser's Mead Johnson Nutrition has voluntarily chosen to recall certain batches of baby formula powder due to possible bacterial contamination, according to the U.S. Food and Drug Administration. The possibly impacted batches of Nutramigen Powder, an infant formula specially designed for children allergic to cow's milk, were produced in June and distributed throughout the summer. "Based on the limited availability of the remaining stock of this special infant formula, it is believed that much, if not all, of the products recalled in the United States have been consumed," Reckitt said in a statement published by the FDA on Sunday. The company said no "illnesses or adverse events" have been recorded yet but urged consumers who have purchased Nutramigen to check t...

[ad_1] In recent days, there has been an increase in demand for train tickets ahead of the upcoming Diwali festivities and Chhath Puja. Therefore, to address this rush, Indian Railways will operate special trains to various cities in Uttar Pradesh and Bihar in an effort to reduce the holiday traffic. Indian Railways will run 283 special trains throughout the nation during the holiday season, according to a statement made earlier in October by Railway Minister Ashwini Vaishanaw. To accommodate more passengers during the rush for Diwali and Chhath Puja, most of these trains will run from Delhi, Mumbai, and Pune to various cities in Uttar Pradesh and Bihar. Northern Railways Diwali/Chhath Puja Special Trains Well, the Northern Railways department will be running a host of special trains, including Gomti Nagar - New Delhi - Chhapra Jn. Festival Special Train (05071/05072), Ara Jn. - Ananda Vihar T. - Ara Jn. Puja Special Train (03227/03228), Chhapra Jn. - New Delhi - Chhap...

[ad_1] As shoppers look for value, dollar stores might seem to be logical destinations. But that penny-pinching mentality hasn't been enough to lift sales for Dollar Tree and Dollar General . Shares of the deep discounters have plunged so far in 2024. The retailers have each cut their full-year forecasts because of weaker-than-expected sales. And both have had leadership shakeups: Dollar General and its former CEO Jeff Owens parted ways in October 2023, and Dollar Tree CEO Rick Dreiling stepped down Nov. 4. Dollar Tree is also exploring selling off Family Dollar , its more grocery-focused brand. Those results are a sharp turnabout for the dollar stores, which were once Wall Street darlings. The struggles have put scrutiny on the two retailers, which will report quarterly earnings this week. Dollar General and Dollar Tree stores Getty Images Peter Keith, a retail analyst for Piper Sandler, said a challenging mix of factors hurt the retailers. Lower-income customers, who ten...

[ad_1] ISLAMABAD: Pakistan on Wednesday assured the United States that it remained committed to the International Monetary Fund (IMF) programme, as the country’s reserves slipped to just half a month import cover after making a fresh debt repayment of $500 million. Finance Minister Ishaq Dar met Robert Kaproth, Deputy Assistant Secretary of the US Department of the Treasury for Asia, according to an official announcement by the Ministry of Finance. During the meeting both sides discussed the status of the IMF programme. Dar briefed the US official about the measures that Pakistan was taking to revive the IMF programme. “Despite challenging economic conditions, the government is focusing on fixing things in the right direction and introducing reforms in all sectors including energy sector and capital market to achieve economic growth and development,” Dar told Robert. The IMF has asked Pakistan to implement a market-based exchange rate, lift restrictions on imports, increase...