GUJARAT INDUSTRIAL DEVELOPMENT CORPORATION
Delhi High Court orders income tax exemption for Noida
The Delhi High Court has directed the income tax department to grant income tax exemption to the New Okhla Industrial Development Authority (NOIDA) under Section 10(46) of the Income Tax Act, 1961. The court rejected the Central Board of Direct Taxes' decision that denied NOIDA's request for tax exemptions, stating that the revenue department erred in categorizing NOIDA's activities as commercial.
SMEs may get to turn the page in book of accounts; new norms likely to ease compliance burden
In its report submitted with the Ministry of Corporate Affairs (MCA), the committee has suggested raising the turnover limit to Rs 75 crore in any of the past three years to maintain and audit cost records.
India's 'audacious' goals key to lunar mission success, says Ex-NASA astronaut Steve Smith
Former NASA astronaut Steve Lee Smith praised India's Chandrayaan-3 mission for its audacious goals and success in landing a spacecraft on the lunar South Pole region. Speaking at the GenAI Conclave, Smith emphasized the importance of resilience and grit in advancing India's space program and leveraging AI technology for progress.
On this season of corporate earnings, Nifty50 companies likely to give solid show
Nifty 50 cos expect double-digit June revenue, profit growth, with net profit up 26.4% and 20.6% operating margins. Noted sectors' improvements, geopolitical concerns, Maruti Suzuki's volume growth, credit growth issues, moderate inflation effects, and rural consumption. Analysts predict 13% and 17% EPS growth in FY25 and FY26.
Mirae Asset Large Cap mutual fund has underperformed peers, benchmark since 2022; what should investors do?
We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.
US trade body approves funding to develop integrated aviation hub in Hissar
The US Trade and Development Agency supports the establishment of an integrated aviation hub at Hisar Airport in Haryana, aiming to strengthen India's supply chain network through enhanced cargo and logistics infrastructure. The agency's collaboration with the Haryana Airports Development Corporation reflects a shared commitment to advancing aviation capabilities in the region.
Budget 2024: Skilling industry demands incentives, tax rebates and labour codes in meeting with FM Sitharaman
Ahead of the Union Budget for 2024-25, the Union Minister of Finance and Corporate Affairs held the eighth Pre-Budget Consultation in New Delhi, focusing on employment and skill development. Key figures like Anshuman Magazine and Suchita Dutta emphasized the need for skilled workers and job readiness among graduates. Discussions also highlighted incentives for skill improvement and formal employment practices, including lowering GST rates for employment services. There were calls for greater inclusion of women in the workforce and the expansion of social security measures. Startups advocated for foreign language education to tap into global job markets.
Goa govt unveils scheme to allow sick industrial units to exit from state
Goa CM Pramod Sawant launched the Goa Industrial Development Corporation Exit Support Scheme to assist sick industrial units in leaving the state. The scheme targets 423 plots across 12,75,000 sq m of unused area, aiming to free up land for new investments, job creation, and industrial development.
Beauty secrets: Inside India's booming beauty industry that relies on hundreds of contract manufacturers
Nishit Dedhia, the MD and cofounder of Kain Cosmeceuticals, is leading a tour of his cosmetics manufacturing facility in Khopoli, Maharashtra. The facility produces a variety of beauty products for the growing direct-to-consumer market in India.
DEE Development Engineers IPO gets subscribed 99.56 times
The portion for qualified institutional buyers received a whopping 201.91 times subscriptions while the category for non-institutional investors got subscribed 144 times. The part for retail individual investors (RIIs) received 23.42 times subscriptions.
Cabinet givs nod to VGF scheme for offshore wind energy with Rs 7,453 crore outlay
The Union Cabinet approved a viability gap funding (VGF) scheme for offshore wind energy projects with a total allocation of Rs 7,453 crore. This includes Rs 6,853 crore for installing and commissioning 1 GW of offshore wind projects, split into 500 MW each off Gujarat and Tamil Nadu coasts. Additionally, Rs 600 crore is earmarked for upgrading two ports to support logistics for these projects.
Pricey ore, tepid local demand, Chinese imports weigh on steelmakers' margins
This is the third time in the past decade that local producers are confronting such a situation. "The government has in the past imposed duties against Chinese steel products, including those being routed from countries like Vietnam," a top official of a steel company told ET, adding that the primary steel makers had flagged their concerns to theCentre.
IBC rescued 3,171 distressed companies in eight years: Sitharaman
Finance minister Nirmala Sitharaman on Thursday said the Insolvency and Bankruptcy Code (IBC) has rescued 3,171 distressed companies and assisted in the shutdown of unviable firms since its introduction eight years ago. This is a marked improvement from the resolution of stress in less than 3,500 firms under the erstwhile Board of Industrial and Financial Reconstruction (BIFR) regime in 30 years, she said, pitching the IBC as a landmark piece of legislation.
Kolkata South: TMC looks to extend dominance in its electoral stronghold
Mamata Banerjee initially held this seat for 33 years, and after she stepped down in 2011 to contest as an MLA and subsequently became the Chief Minister, her party colleagues have continued to maintain dominance in this constituency.
Nalco Q4 Results: Profit jumps two-fold YoY to Rs 996.7 cr
State-owned Nalco on Monday reported two-fold rise in consolidated profit to Rs 996.74 crore for the March quarter on the back of lower expenses. The company had posted a consolidated profit of Rs 495 crore in the March quarter of FY23, National Aluminium Company Ltd (Nalco) said in a filing to the BSE.
SC upholds acquisition of land by DDA, DSIIDC, DMRC between 1957 and 2006 for public infra projects
After hearing arguments on a batch of hundreds of petitions, a bench of justices Surya Kant, Dipankar Datta and Ujjal Bhyan passed the verdict on May 17 setting aside a Delhi High Court order, which had declared the acquisition proceedings to have lapsed in terms of Section 24(2) of the Right to Fair Compensation and Transparency in Land Acquisition Rehabilitation and Resettlement Act, 2013.
Maharashtra: Death toll climbs to 10 in Dombivali boiler blast, rescue operations underway
A boiler blast at a chemical factory in Dombivli has killed 10 people, with two still missing. Rescue operations continue amidst hazardous conditions. Chairman Siddhesh Kadam, under Chief Minister Eknath Shinde's directive, reviewed the site and emphasized relocating hazardous units to prevent future incidents. Opposition leader Ambadas Danve criticized safety lapses and the factory's proximity to residential areas. Thane Police have filed charges against the factory owners, who are currently absconding. Further details are awaited.
Bifurcation blues: 10 years later, several issues remain unresolved between AP, Telangana
After a decade, Andhra Pradesh and Telangana still face unresolved issues post-bifurcation, including asset division and power bill dues. Hyderabad's transition to Telangana on June 2 as per the AP Reorganisation Act 2014 remains complex. Challenges persist in dividing Schedule 9 and Schedule 10 institutions, influenced by the Sheela Bhide panel's recommendations and disputes over employee transfers.
Defunct iron factory linked to Dalai Lama sees renewed hope of resurrection every election season
Once a major avenue for employment in the region, the factory has been shut for the better part of four decades now. Despite this, the people of the region hold out hope that it will be returned to its former glory. These hopes are fuelled every election cycle, with promises forgotten every results day while administrative apathy pushes the people of Koderma out of the region.
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