DOMICILE BILL
Tax payout for domiciling to India is high but we have accounted for it: Razorpay CEO
“We are at least two years from an IPO... Before that we want other parts of our business to break even and be profitable on all fronts. Our (online) payments business is break-even,” said cofounder and chief executive Harshil Mathur.
Game streaming firms plan global expansion; Razorpay’s $300-mn tax bill for reverse flipping
Two of India’s major gaming-focused streaming platforms are eyeing expansion in international markets to take on bigger rivals such as YouTube and Amazon’s Twitch. This and more in today’s Morning Dispatch.
Hemant Soren questions returning of domicile bill by Governor
Jharkhand Chief Minister Hemant Soren has questioned the returning of a bill by Governor Ramesh Bais, which sought to use 1932 land records to determine the domicile status of people in the state.
Google on the ropes in India
A day before the deadline, Google announced several changes to Android in India, such as allowing device makers to license its individual apps for pre-installation and allow users to choose their default search engine.
Walmart, others face $1B tax bill for PhonePe relocation; Google told to deposit 10% of CCI fine
Google, which is appealing a ruling and Rs 1,337 crore fine imposed by India’s competition watchdog in October for alleged abuse of its dominance in the mobile OS market, has now been asked to deposit 10% of this sum with the National Company Law Appellate Tribunal. The NCLAT has also refused to stay the fine, and will next hear Google’s appeal on February 13.
More stringent anti-conversion Bill introduced in U'khand Assembly
Stating the objects and reasons for the Bill, state minister for religious affairs Satpal Maharaj said, "...under articles 25, 26, 27 and 28 of the Constitution of India, under Right to Freedom of Religion, to equally strengthen the importance of every religion, the amendment in Uttarakhand Freedom of Religion Act, 2018 is necessary to remove certain difficulties in the Act."
- Go To Page 1
Jharkhand assembly passes bill to raise reservations to 77%
In the proposed reservation, local people of the SC community will get a quota of 12 per cent, STs will get 28 per cent, Extremely Backward Classes (EBCs) 15 per cent, OBCs 12 per cent, and EWS barring those from the other reserved categories 10 per cent.
Transaction declined: why Prosus dropped $4.7B BillDesk buy; deal had $50-100M breakup fee
The merger was expected to create an online payments gateway juggernaut that would process $147 billion in annualised total payments value (TPV), more than twice that of its nearest contender Razorpay, which processes $80 billion in annual TPV.
Prosus drops $4.7B BillDesk deal; revisit the biggest failed ‘tech-overs’ ever
Prosus, the global investment arm of South African multinational Naspers, has cancelled a $4.7 billion deal to buy Indian payments firm BillDesk amid a crash in the valuations of major tech startups. The deal, which was set to be Prosus’s biggest acquisition and the second-largest M&A ever in India, was automatically terminated after certain conditions weren’t met by September 30, the company said.
Japan passes landmark stablecoin bill. Will the crypto confidence be restored?
Japan has been cautious regarding stablecoins since 2021, said Edul Patel, CEO and Co-founder of Mudrex. "It is the right move to ensure investors’ safety, as algorithmic-based stablecoins are still at the experimental stage, volatility becomes inevitable and may keep investors at risk."
Haryana case fallout: Supreme Court to examine all domicile quota laws
The Haryana law had set aside 75% jobs, with less than ₹30,000 salary, for 'locals.' The law states that the person would have to be a resident of Haryana. All private establishments which employ more than 10 persons were asked to comply or face fines between ₹10,000 and ₹2 lakh for violation.
SC seeks to know if cases pertaining to quota in private sector be considered together
A bench comprising Justices L Nageswara Rao and B R Gavai said it has got to know that similar legislations have been passed in Andhra Pradesh and Jharkhand and they have been challenged in the high courts.
Crypto community, House panel, RBI discuss steps to regulate, track cryptocurrency
“A rule to route transactions through exchanges instead of P2P transfers between private wallets is likely so that cryptos changing hands don't escape the regulatory net," a person familiar with the discussions told ET.
Haryana's 75 pc job reservation law will not negatively impact industry, says Manohar Lal Khattar
A statement by the Confederation of Indian Industry quoting him said the chief minister assured that the state government is with the industry, and the rules being currently framed for the Act are such that there will be no harassment of units in the state on account of this Act.
New bill may see more firms shifting to Noida from Gurugram: Experts
The law will affect both office space and residential property in the Gurugram market, which had started showing signs of recovery after being hit by the pandemic, according to real estate developers and international property consultants.
Industry seeks clarity on Haryana’s jobs bill
On March 2, the Haryana govt approved a law reserving 75% of private sector jobs with monthly pay of up to Rs 50,000 for local residents, stating that the rule will be applicable for 10 years and will address rising unemployment in the state.
Haryana Governor approves bill providing 75% quota to state people in private sector jobs
The Haryana State Employment of Local Candidates Bill, 2020 provides quota for local people in private sector jobs that offer a salary of less than Rs 50,000 a month.
How other states may replicate Haryana's new bill reserving 75% jobs for locals in private sector
While the bill awaits the governor’s assent, a rattled industry has been holding multiple consultations with the government to try and convince them not to go ahead with the legislation in its current form. “Our hiring is based on skills and talent, not domicile.
Haryana first: State Assembly passes bill on 75% job quota in private sector for local people
The Haryana State Employment of Local Candidates Bill, 2020 provides the quota for local people in private sector jobs that offer a salary of less than Rs 50,000 a month. Only 10 per cent of the recruitment by a company needs to be from the district in which it is located - the rest of the quota can be filled from other districts in the state.
Govt proposes special tax incentives for FPIs choosing Gift City over Singapore & Mauritius
As a part of the Taxation and Other Laws Bill tabled in the Parliament, the Government has proposed to introduce a new regime for taxation of off-shore funds choosing Gift City. As per the proposed changes, profits and business income earned by such funds from Gift City will be tax exempt.
J&K polls can happen anytime, Assembly has to be reconstituted: G C Murmu, first Lieutenant Governor, J&K
We have to promote Kashmiri identity. We are making a political system in a way that everyone has his or her say in it. The number of youngsters joining militant ranks is coming down, says Lieutenant Governor of J&K.
Explainer: All you need to know about Jammu and Kashmir's domicile law
Post abrogation of Article 370 and 35A and passing of J&K Reorganisation Bill in the parliament, the special status of J&K was revoked and the state was bifurcated into two UTs of J&K and Ladakh.
15 year resident, student for 7 years Kashmir domicile: Centre
The Union home ministry’s gazette notification issued on Monday will make such persons eligible to apply for jobs in the UT. A migrant registered by the UT’s Relief and Rehabilitation Commissioner also will be considered a domicile as will children of parents who have stayed in J&K for 15 years or are registered as migrants.
Central government defines domicile for J&K; those who have lived in UT for 15 yrs, registered migrants & students
The central govt in its latest gazette notification stated that any person who has resided in the UT of J&K for the period of 15 years or has studied for the period of seven years and appeared in secondary and higher secondary board examination would be considered as domicile of J&K and appointed in the services there.
Bill to halve Christian couples' cooling off period misses Parliament date
The Law Ministry's Legislative Department had sought the states' views on the issue as the amendment related to the personal law. Twenty four states and UTs had supported the proposal.
Delhi government to foot hospital bills of crash, burns and acid victims
The government said it had fixed no upper limit on cost of treatment and all victims — irrespective of domicile, and even foreigners — will be eligible to get free treatment in any Delhi hospital, government or private, if the accident takes place in the capital.
Bill on admiralty juridiction of courts introduced in Lok Sabha
The repealing of four admiralty statutes is in line with the government's commitment to do away with archaic laws which are hindering efficient governance.
Cabinet approves enactment of Admiralty Bill
India is a leading maritime nation and maritime transportation caters to about 95 per cent of its merchandise trade volume.
Aadhaar bill introduced in Lok Sabha
Jaitley introduced the bill amid protests by Congress over the legislation being categorised as a money bill which does not need approval of the Rajya Sabha.
Load More
