Category Archives: Economy

Ashish Gupta, the angel investor likely to make $20 million from Flipkart-Walmart deal

Ashish Gupta, a US citizen, is a PhD from Stanford University in California, and a computer science graduate from the Indian Institute of Technology, Kanpur.pc:ht

Back in 1998, Ashish Gupta and his business partners sold their start-up—price comparison site Junglee—to Amazon for $240 million. Exactly two decades later, Gupta stands to make roughly $20 million from a deal involving two bitter Amazon rivals—Walmart’s $16 billion buyout of Flipkart. Gupta was the first angel investor in Flipkart, investing Rs10 lakh in it in 2009.

Gupta is founder of venture capital firm Helion Ventures, which was dismantled in 2016 after a string of executives left to launch their own funds. But what’s not known is Gupta is also one of the most successful angel investors in India.

Gupta doesn’t make many angel investments but he has acquired a reputation of Continue reading

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Infosys rewards investors by giving record 870% dividend for 2017-18

Global software major Infosys Ltd on Friday rewarded its investors with a record 870% aggregate dividend or Rs 43.50 per share of Rs 5 face value for fiscal 2017-18.

In a regulatory filing on the BSE, the city-based IT firm said its board had agreed to pay out a total dividend of Rs 33.50 per share (670%), including Rs 20.50 (410%) final dividend and Rs 13 (260%) interim dividend and a special dividend of Rs 10 per share (200%).

Dividend pay-out includes Dividend Distribution Tax (DDT).

The company’s investors or shareholders are promoters, including their families, foreign and Continue reading

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Most Important Budget Highlights 2018

pc: ndtv

Finance Minister Arun Jaitley presents his Budget for the year 2018-19 in Parliament. The budget is largely focused on uplift of agricultural sector, along with major push to healthcare and education sectors in the country. Stay with Times of India for latest updates

Highlights : 

* PAN to be used as Unique Entity Number for non- individuals from April 1.

* Govt makes PAN mandatory for any entity entering into a financial transaction of Rs 2.5 lakh or more.

* This budget will accelerate economic growth, it is focused on all sectors: PM Modi

* Prime Minister Narendra Modi praises his finance minister Arun Jaitley for delivering a budget that is “farmer friendly, common citizen friendly, business environment-friendly and development friendly.”

* Govt’s health scheme to cover 10 crore poor families is world’s largest government-funded health protection scheme.

* Arun Jaitley proposed to tax long term capital gains exceeding Rs 1 lakh at 10 per cent without indexation. Continue reading

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Corporate America Asks Arun Jaitley To Reduce Tax Policy Uncertainties

pc: ndtv

Ahead of the Union Budget, corporate America has urged Finance Minister Arun Jaitley for further reduction in tax uncertainty for multinational companies and institutional investors, a step which it said would help attract more foreign direct investments to India.

“A significant positive step toward improving the investment climate would be to further reduce tax uncertainty for multinational companies and institutional investors in India,” Nisha Desai Biswal, the president of the Continue reading

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How to make businesses GST compliant?

The Goods and Services Tax is a fundamental revolution in the way we think about indirect taxes in India. It has created a single market, helping move goods seamlessly across state borders. The GST system has enrolled close to 10 million businesses onto a single national technology backbone, the GSTN, and already collected over Rs 3 lakh crores in taxes in less than six months. GST was welcomed because it aimed at creating an incentive for compliance, rather than punishment for non-compliance.

The basic driver of the GST is the Input Tax Credit (ITC). The tax paid by your suppliers, should be subtracted from the tax you pay to the government. The ITC is not a small deal. Without ITC, the tax you have paid becomes a cost. This tax can often be higher than the profit margin of the business. The market encourages Continue reading

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I-T dept sends tax notices to investors in Bitcoin, other cryptocurrencies

India’s income tax department has sent tax notices to tens of thousands of people dealing in cryptocurrency after a nationwide survey showed more than $3.5 billion worth of transactions have been conducted over a 17-month period, a tax official said.

A small toy figure is seen on representations of the Bitcoin virtual currency in this illustration picture.

Tech-savvy young investors, real estate players and jewellers are among those invested in bitcoin and other virtual currencies, tax officials told Reuters after gathering data from nine exchanges in Mumbai, Delhi, Bengaluru and Pune.

Governments around the world are grappling with how to regulate cryptocurrency trading, and policymakers are expected to discuss the matter at a G20 summit in Argentina in March.

The Indian government has issued repeated warnings Continue reading

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Union Budget 2018 to be presented on February 1

The Budget Session of Parliament will begin on January 29, and the Budget for 2018-19 will be presented by the Finance Minister on February 1. It will extend till April 6, said Parliamentary Affairs Minister Ananth Kumar said on Friday. The Presidential address by Ram Nath Kovind will be delivered on Continue reading

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Invest in Bitcoins at own risk: Govt.

The ministry of finance on Friday cautioned people against the risks of investing in virtual currencies such as Bitcoin that are not backed by government fiat, and compared them with Ponzi schemes.

This follows a crackdown by the South Korean government on trading of Bitcoins which led to a 8% drop in its value on Thursday. Currently, the value of Bitcoin is around $15,000. The rapid rise in the value of the virtual currency this year has attracted the attention of not just speculators but also unsophisticated retail investors who often do not understand the risks involved. The virtual currency was valued at $1,012.4 on Continue reading

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SEBI to finalise new norms for advisers, credit rating agencies

MUMBAI: The board of the Securities and Exchange Board of India (Sebi) will consider and approve on December 28 as many as 17 reforms, including new norms for credit rating companies and investment advisers, according to two people with direct knowledge of the development.

“We are re-looking all regulations and ensuring that all circulars are captured in regulations,” Ajay Tyagi, chairman of Sebi, said at a December 20 event.

The Sebi board will also discuss the issue of disclosure of loan defaults and publish a discussion paper on it.

In August, Sebi had mandated that listed firms disclose all loan defaults within Continue reading

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Indian Railway passengers may soon pay less for premium trains tickets

Rail passengers may soon pay less for tickets on premium trains such as the Shatabdi, Rajdhani and Duronto during the off-season or even otherwise when the trains are not fully booked, railway minister Piyush Goyal said in an interview.

Indian Railways moved to a flexi-fare system for these trains in 2016, but this only saw fares moving in one direction — up. For instance, fares would rise 10% after 10% of the seats were sold. The move helped Indian Railways, which made an additional ₹540 crore from it between September 2016 and August 2017, according to media reports. Continue reading

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