AMIT SINGHANIA
Raymond expands garmenting capacity eyeing China + 1 strategy, to become third largest suit marker
Expanding capacity to become a top global suit maker, I strategically cater to new markets. With a focus on high-value garments, my facilities in India and Ethiopia meet the strong demand from the US, UK, and European markets. This expansion boosts domestic manufacturing and aligns with the Make in India initiative.
Ambani, Adani, Birla among India Inc's bigwigs setting sail for Ayodhya's D-Day
Reliance Industries chairman Mukesh Ambani, Aditya Birla Group chairman Kumar Mangalam Birla, Tata Sons chairman N Chandrasekaran and Adani Group chairman Gautam Adani are among India's top business leaders who will be seen at the ceremony with a guest list of more than 10,000. The captains of Indian industry will join the scrum of VVIP arrivals at the small temple town, which will also see achievers from the world of entertainment, sport, politics, faith, public life and the arts.
Singhanias hit splitsville; Bill Gates, Jeff Bezos, Elon Musk & other corporate captains who went through divorce
Here is a look at a few high-profile divorces that rocked the world of business, in India and abroad.
New 20% TCS from October 1, 2023: Be ready for a cash crunch if you invest in international stocks, cryptocurrency; how to reduce TCS impact
TCS on foreign remittances from October 1, 2023: The Budget 2023 hiked TCS on foreign remittances of more than Rs 7 lakh through the LRS to 20% for investments in overseas assets, real estate, bonds, foreign company stocks, etc. The higher rate comes into effect on October 1, 2023. If you directly invest in international stocks, you should know how the new TCS rule is going to impact your investment from tomorrow.
20% TCS from October 1, 2023: How a forex card could save you more than a credit card during international trips
TCS on forex payments: From October 1, 2023, forex cards will attract at 20% if the user loads over Rs 7 lakh on the card in a financial year. There is no TCS on international credit cards. Does it mean that credit cards will be a better option than forex cards while travelling abroad? Read carefully to find out
CBDT notifies e appeals scheme 2023
The Central Board of Direct Taxes (CBDT) in India has launched an "e-appeal" scheme designed to reduce the pendency of appeals relating to tax deducted at source (TDS) default issues and tax collection at source (TCS). The scheme allows the Joint Commissioner (Appeals) to dispose of appeals filed before it, with the power to send show cause notices and initiate penalties.
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50% of the sale proceeds will stay in Raymond Consumer Care: Gautam Hari Singhania, Raymond
So, 100% of my equity holding in the consumer company I am leaving back in the company, I am not taking a single rupee out of it. So, my 50% of the sale proceeds will stay in Raymond Consumer Care and as a promoter I am putting 100% of my sales proceeds back into the business.
Saurabh Mukherjea’s PMS fund gave negative returns in Feb; Marathon Trends tides over volatility
The top multi-cap, smallcap, midcap, and thematic funds of Saurabh Mukherjea’s Marcellus Investments gave negative returns of up to 4.6% in February, data collated by PMSBazaar showed.
ETtech Explainer: Has the Budget 2023-24 resurrected 'angel tax'?
Privately held companies such as startups that issue shares to foreign investors at a premium may be subjected to additional taxation requirements.
Budget 2023: scope of angel tax expanded, to cover foreign funding
It so far covered only local investors; experts say provision may hurt fundraising
Capital gains tax should be rationalised; need simpler ITR form for disclosing such income: Experts
Under the income tax law, gains arising on the transfer of capital assets -- both movable and immovable -- are charged to tax under the head 'Capital Gains'. The tax rate is different for different asset classes. Also, depending on the period of holding, the income is classified as short or long-term capital gains and taxed accordingly.
Tax collections to continue rising trend in coming months: Experts
The gross direct tax collection grew 30 per cent to Rs 8.36 lakh crore in the April to mid-September period of the current fiscal on increased corporate tax and personal income tax (PIT) mop up due to increased economic activity. The Rs 8.36 lakh crore direct tax collection for the April 1- September 17 period includes corporate tax of Rs 4.36 lakh crore and PIT of Rs 3.98 lakh crore. After deducting refunds of Rs 1.35 lakh crore issued, there was a 23 per cent growth in net direct tax mop up, totalling Rs 7 lakh crore.
CFO explains why Raymond is extremely bullish on textile, realty & other business segments
“Based on percentage of completion you book the revenues and in FY24, realty and engineering put together should be doing anything between 20% and 25% of the total revenues. In terms of EBITDA, we should consider 35% of the EBITDA coming from these businesses but our mainstay is the lifestyle business and we see very good trends coming in.”
ICSE class 10 results: 110 students in top three rank holders list, merit list announced after 2 years
The four toppers are -Hargun Kaur Matharu (Pune), Anika Gupta (Kanpur), Pushkar Tripathi (Balrampur) and Kanishka Mittal (Lucknow) respectively. The pass percentage for girls (99.98 per cent) is marginally higher than that for boys (99.97 per cent), officials said, adding the overall pass percentage is 99.97 per cent.
Raymond aims to be net debt-free company in next 3 years
The net debt-to-equity ratio of the leading Indian branded fabric and fashion retailer has also come down to 0.4 in FY22 from 0.8 of FY20, the report said. "The company is focussed on liquidity management through cost reduction initiatives and working capital optimisation with a stated aim of becoming a net debt-free company in the next three years," it said.
Cess clarification: Tax experts wary of reopening of cases
While taxpayers whose cases have already been decided by the Supreme Court are seen as insulated from retrospective amendments, there is a fear that the government may seek review of such orders.
15% cap on surcharge on LTCG will delight HNIs, property owners and start-up founders
The surcharge on the LTCG tax from equity funds and listed stocks is already capped at 15%. But for gains from other assets, the surcharge is based on the income slab of the taxpayer. It is 25% for incomes from Rs 2 crore to Rs 5 crore and 37% for incomes above Rs 5 crore.
AWS re/Start India prepares local talent for cloud careers
AWS re/Start is a skills-based training programme that covers fundamental AWS Cloud skills and practical career skills, such as interviewing and resume writing. The 12-week program is offered at no cost to learners.
Sunil Singhania, Mukul Agrawal make a killing on Paras Defence, sit on 246% gains
Most analysts had a ‘subscribe’ rating on the IPO. Though, analysts are yet to start their coverage of the stock, some analysts express their bullishness on the prospect of the company.
NYE plans: Krsnaa Mehta thankful for 11pm curfew, Nawaz Modi Singhania says it's not time to party
Amit Patni, directoralso plans to host a small get-together at home.
PM Modi to attend FICCI's virtual 93rd annual general meeting
The commerce and industry chamber’s flagship event will also be attended by global business leaders like Satya Nadella, CEO, Microsoft, Peter Diamandis, CEO, Zero Gravity Corporation and David Prior, chairman, National Health Services England.
Govt may halve dividend income tax rate for big local investors
Foreign companies, on the other hand, would have to pay anywhere around 5% to 15% tax on dividends depending on the tax treaty that India has with the country from where the investment is routed.
Poker Sports League Season 2: Game enthusiasts can now battle it out in the game of wit
With 11 teams in place for Amit Burman’s Poker Sports League season 2, bids are open for Kolkata Royals.
Likes of Ambani, Singhania taken to task by rise of minority investors
Until recently, minority shareholders in India rarely clashed with management.
Who'll pay this hedge fund tax? Customers?
Hedge funds, those secretive investment pools that dominated Wall Street last decade are mushrooming in India.
The Singhania saga: What next for JK House?
After minority shareholders rejected the sale of flats to members of the promoters’ family, who will occupy the designated apartments in the high-rise?
FPIs may face up to 40% tax on Indian investments
While theoretically the government can also levy tax retrospectively for the last seven years, a tax official said that is unlikely.
Niece drags Baba Kalyani, family to court over wealth; claims one-ninth of the estate as her share
Sheetal Kalyani, 27, an economics graduate from Pennsylvania State University, has included 183 people, including Baba Kalyani in her suit.
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