BENGALURU: IT firms had shrugged off concerns over their dependence on the US green-card route well before the US administration announced the suspension of PERM processing, with certified applications already declining sharply.Thirteen major IT services companies recorded 607 certified permanent labour certification (PERM) applications in the first nine months of FY26, compared with 1,670 in…
CHENNAI: Lakshmi Venu and Mallika Srinivasan have said the economic settlement within the Venu Srinivasan (VS) family remains unresolved, disputing suggestions that a division of assets has been completed.In a joint statement issued amid recent media reports, Lakshmi Venu and Mallika Srinivasan, daughter and wife of Venu Srinivasan, respectively, said no agreement on the division…
MUMBAI: Sir Dorabji Tata Trust (SDTT) has been granted time until Oct 19 to file its response to complaints lodged by vice-chairmen Venu Srinivasan and Vijay Singh, who have alleged that the trust exceeded its charitable mandate by intervening in the commercial and strategic affairs of Tata Sons.The duo filed complaints with the Maharashtra Charity…
The tribunal delivered its ruling on August 14, 2026. (Image for representative purpose only) You get Transferable Development Rights from the government by giving up a part of your land and sell them to a builder. Are you liable to pay capital gains tax?In one such case a landowner received Transferable Development Rights (TDRs) but…
Foreign investors have sold Indian equities worth Rs 44,166 crore so far in October. With foreign investors pulling money out of Indian equities, economists at the country’s largest lender, State Bank of India (SBI), have proposed scrapping the long-term capital gains (LTCG) tax on equity investments to encourage investors to remain invested for longer periods.“The…
The Delhi High Court observed that Clause 3.3 of the RBI circular gives banks the freedom to set interest rates. (Image for representative purpose only) Can banks change the rate of returns for fixed deposits on non-renewal? The Delhi High Court has ruled in favour of a fixed deposit holder after a bank cut the…
The BSE Sensex closed at 71,924.68 on Monday, falling 547.65 points, or 0.76 per cent, from its previous close of 72,472.33. The index opened at 72,771.32 and touched an intraday high of 72,884.25 and a low of 71,676.10.The NSE Nifty 50 ended the session at 22,363.35, down 157.10 points, or 0.70 per cent, from its…
India’s retail inflation may rise to 5.47% in September as food prices climb: UBI Retail inflation moved closer to the Reserve Bank of India’s upper tolerance limit of 6 per cent in September, rising to 5.54 per cent from 4.83 per cent in August as food prices recorded a sharper increase. Food inflation climbed to…
The report further suggested that banks could set aside around 3% of the funds that CASA depositors forgo through lower interest earnings. With a Merchant Discount Rate (MDR) on merchant UPI transactions being announced above Rs 2,000, professors at IIT-Bombay have come out with a report proposing reducing the MDR to 0.08% from 0.40%.The report’s…
In 1999, five landowners decided to develop their property into an IT park and SEZ zone. (Image for representative purpose only) What constitutes tax avoidance? In a recent ruling, five Bangalore landowners have secured relief from ITAT in an income tax dispute over alleged undisclosed rental income.They established that the building belonged to their partnership…
