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Sunday, December 31, 2023
Gold likely to touch Rs 70,000 in 2024, say experts Read more at: https://economictimes.indiatimes.com Dec 31,2023
Russia says 14 killed in Ukrainian strike on Belgorod Read more at: https://economictimes.indiatimes.com/news Dec 30,2023
Saturday, December 30, 2023
NICAI UPDATES
- In order to facilitate the taxpayers in correct and accurate reporting of ITC reversal and reclaim thereof and to avoid clerical mistakes, a new ledger namely Electronic Credit and Re-claimed Statement was introduced on the GST portal. This statement was made available to help the taxpayers in tracking their ITC that has been reversed in Table 4B(2) and thereafter re-claimed in Table 4D(1) and 4A(5). Kindly click here for the detailed advisory provided earlier.
Vodafone Idea :-Opinion expressed by moneycontrol message forum silver member called ias 2507 regarding Vodafone idea sudden jump in price and volumes on Friday Dec 29,2023.Hope Mr.K.M.Birla reads this.
Silver Member
Ayodhya airport inauguration: PM Modi sees 'new employment opportunities', Scindia says second phase expansion soon The phase-1 of the airport has been developed at a cost of more than Rs 1,450 crore, according to officials. MONEYCONTROL NEWS DECEMBER 30, 2023 / 04:34 PM IST The inauguration of the Maharishi Valmiki International Airport Ayodhyadham marks Ayodhya's transformation into a major tourist and pilgrimage destination. The inauguration of the Maharishi Valmiki International Airport Ayodhyadham marks Ayodhya's transformation into a major tourist and pilgrimage destination. Prime Minister Narendra Modi on December 30 inaugurated the Maharshi Valmiki Airport in Ayodhya, along with the temple town's redeveloped railway station. The development in Ayodhya will lead to "new employment opportunities," he said. This visit by the prime minister comes weeks ahead of the 'pran pratishtha' or consecration ceremony of the Ram temple. The temple is currently under construction, with the ceremony scheduled to be held on January 22. During the inauguration of the airport, Union Minister for Civil Aviation Jyotiraditya Scindia, Union Minister of State for Civil Aviation Gen (Retired) VK Singh, Uttar Pradesh Chief Minister Yogi Adityanath and other leaders accompanied Modi. Also Read | PM inaugurates redeveloped Ayodhya railway station, flags off 8 trains READ MORE Check Free Credit Score on Moneycontrol: Easily track your loans, get insights, and enjoy a ₹100 cashback on your first check! Pay for a few years, get covered for a lifetime ICICI Pru Life Insurance Plan | Sponsored Looking for 2bhk Interiors? Book a Free Design Session Now! Explore 1000's of fully customizable home interior designs. Get the interiors of your home designed by our experts at HomeLane. Book a free consultation today. HomeLane | Sponsored Open Free Mutual Funds Account Now Build a 1 Crore corpus through SIPs. Open an account with FundsIndia to grow your money. FundsIndia | Sponsored Life Cover of 1cr at optimum rates with iPS Plan ICICI Pru Life Insurance Plan | Sponsored Experience the future of Interiors - visualize your dream space in 3D Personalized Interiors built to your budget.Book a FREE design session! HomeLane | Sponsored Open A Free Mutual Funds Account Now Personalized financial plan | Goal-Based Investing | Safe & Secure | 25 Lakh+ Customers FundsIndia | Sponsored Reduce Belly Fat Within Few Days Cash On Delivery and Free Shipping Available Spike Tummy Trimmer | Sponsored Exclusive Offer: Claim $10,000 Weberr Credits Today! Streamline your operations seamlessly with Weberr. From managing client relationships to crafting stunning websites, handling finances, and analyzing data, our all-in-one solution is designed for success. Weberr | Sponsored Sponsored Links You May Like Adv. Data Science Program. Learn from IIT Madras Faculty. Intellipaat Maximize Your Business Potential with Weberr! Weberr Gurgaon: The price (& size) of these hearing aids might surprise you Hear.com The First Signs of Liver Cirrhosis (Write These Down) Liver Cirrhosis Treatment | Search Ads by Taboola Forum Facebook Twitter Instagram Linkedin RSS Portfolio Markets Watchlist Live TV Show Currencies Credit Score₹100 Cashback Commodities Fixed Income Personal Finance Mutual Fund Pre-Market IPO Global Market Budget 2024 Gold Rate BSE Sensex Forum MC 30 News Business Markets Stocks Economy Mutual Funds Personal Finance IPO News Startups Election 2023 Elections 2023 in Hindi Stocks: A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others Mutual Funds: A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z Visit the App Store to see all our apps: Download from Google PlayDownload from APP StoreDownload from Windows Phone ISO 27001 - BSI Assurance Mark Tools Retirement Planning EMI Calculator SIP Calculator SIP Planner Useful Links Crypto News Bank Holidays in India Gold Rate Today Silver Rate Today Trending News Startups National News MC Videos MC You Tube House Purchase Index Best Portfolio Manager Small Savings Schemes Bonds TopperLearning Clear Study Doubts Education Franchisee Opportunity Specials Master Your Money Game Changers Investment Watch PowerYourTrade MoneyBhai Focus SME Step Up Network 18 Sites News18 Firstpost CNBC TV18 News18 Hindi Cricketnext Overdrive Topper Learning About us | Contact Us | Advertise with Us | Support | Disclaimer | Privacy Policy | Cookie Policy | Terms & Conditions | Careers | Financial Terms (Glossary) | FAQs | Sitemap | RSS Feed Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.:-moneycontrol news
The inauguration of the Maharishi Valmiki International Airport Ayodhyadham marks Ayodhya's transformation into a major tourist and pilgrimage destination.
Prime Minister Narendra Modi on December 30 inaugurated the Maharshi Valmiki Airport in Ayodhya, along with the temple town's redeveloped railway station. The development in Ayodhya will lead to "new employment opportunities," he said.
This visit by the prime minister comes weeks ahead of the 'pran pratishtha' or consecration ceremony of the Ram temple. The temple is currently under construction, with the ceremony scheduled to be held on January 22.
During the inauguration of the airport, Union Minister for Civil Aviation Jyotiraditya Scindia, Union Minister of State for Civil Aviation Gen (Retired) VK Singh, Uttar Pradesh Chief Minister Yogi Adityanath and other leaders accompanied Modi.
He further also requested people to visit Ayodhya after the inauguration on January 22 and not on the day of the inauguration ceremony. "I have a request to all. Everyone has a wish to come to Ayodhya to be a part of the event on 22 January. But you know it is not possible for everyone to come. Therefore, I request all Ram devotees that once the formal program is done on 22nd January, they should come to Ayodhya at their convenience, do not make up their minds to come to Ayodhya on 22nd January," he said.
During the inaugural flight, people recited Hanuman Chalisa.
Minister of Civil Aviation Jyotiraditya Scindia also addressed a public rally after the inauguration of the airport. Stating details about the newly built airport, he said its budget is Rs 500 crore and soon a runway of 3750 metres will be constructed on which Boeing 777 and Airbus 350 will be able to land.
"PM Modi asked for an airport with global standards. This airport has been constructed at a budget of Rs 500 crores and can expect a footfall of nearly 10 lakh pilgrims annually... In the second phase, the airport will be expanded further. A runway of 3750 metres will be constructed on which Boeing 777 and Airbus 350 will be able to land. The current area of the airport will be expanded to 5 lakh sq. ft," Scindia said.
Wealthy Indian-origin couple, daughter found dead at their US home; police suspect domestic violence The grim discovery of their bodies was made after a relative had stopped by to check on the family members after not hearing from them in one or two days, the district attorney said. :-The Indian Express Dec 30 2023
A wealthy Indian-origin couple and their teenage daughter were found dead in their USD 5 million mansion in the US state of Massachusetts in an apparent domestic violence incident, according to media reports.
The bodies of Rakesh Kamal, 57, his wife, Teena, 54, and their 18-year-old daughter, Ariana, were found in their Dover mansion at about 7:30 p.m. Thursday, Norfolk District Attorney (DA) Michael Morrissey said.
Dover is about 32 kilometres southwest of downtown Boston, the capital of Massachusetts.
Teena and her husband, who also went by Rick, had previously run a now-defunct education systems company called EduNova.The district attorney, who described the “terrible tragedy” as a “domestic violence situation,” said a gun was found near the husband’s body.He declined to say whether all three family members were shot dead — and by whom, the New York Post reported.
Morrissey said he was waiting for the medical examiner’s ruling, which was expected soon, before deciding whether to refer to the incident as a murder-suicide.The district attorney refused to speculate on a motive for the slayings.
The couple appeared to have faced financial problems in recent years, online records show.
The grim discovery of their bodies was made after a relative had stopped by to check on the family members after not hearing from them in one or two days, the district attorney said.Morrissey added that there had been no prior police reports or domestic incidents tied to the home.
“There’s been no police reports, there’s been no problems, no domestic issues, no nothing at that house or in the entire neighborhood that I’m aware of,” Morrissey said.
“This is very unfortunate and our heart goes out to the entire Kamal family on this tragedy.” “I hate to see it at any time,” Morrissey added of domestic violence incidents. “I think some of the tensions that people feel in relationships often come out around the holidays.” The district attorney said the investigation into the slayings was ongoing and that investigators had worked the crime scene through much of the night.
“Although the investigation is at a very preliminary stage, the evidence available at this time does not indicate the involvement of any outside party, but suggests that this is a deadly incident of domestic violence,” his office said in a statement.
“It is not believed that there is any ongoing danger to the Dover community related to this incident.” The family’s sprawling mansion — estimated to be worth USD 5.45 million — went into foreclosure a year ago and was sold to the Massachusetts-based Wilsondale Associates LLC for USD 3 million, according to The Post.The Kamals had purchased the 19,000-square-foot estate – which boasts 11 bedrooms – for USD 4 million in 2019, according to the records, according to media reports.
The slain family members were the only ones living in the mansion at the time, the DA said, adding that the area, one of the richest in the state, was “a nice neighbourhood, a safe community.” Their company was launched in 2016 but was dissolved in December 2021, state records show.Teena Kamal was listed on EduNova’s website as the chief operating officer of the company, describing her as an alum of Harvard University and Delhi University in India.
According to his biography on the EduNova website, Kamal was an alumnus of Boston University and the MIT Sloan School of Management, as well as Stanford University.Before working at EduNova, he “held many executive positions in the education-consulting field,” the biography added.
EduNova marketed a “student success system” designed to improve the grades of students in middle school, high school, and college,” The Boston Globe newspaper reported.
Teena filed for Chapter 13 bankruptcy in September 2022 – listing between USD 1 million and USD 10 million in liabilities, filings show. The case, however, was dismissed two months later due to insufficient documentation.
Teena, who was a Harvard alumnus, was listed as one of the board of directors for the American Red Cross of Massachusetts.
Her online bio touted her more than three decades of working in the education and technology industries.
Meanwhile, the couple’s daughter was a student at Middlebury College, a USD 64,800-a-year private liberal arts school in Vermont, where she was studying neuroscience, according to her LinkedIn.
Morrissey also said a homicide has not been reported in Dover since 2020, and he has never worked a homicide case from that neighbourhood since he started his position as District Attorney 12 years ago.
“It’s very rare to have this kind of a violence situation almost in any community in Norfolk County, but particularly Dover,” Morrissey said.
“It’s a small, well-run community, but like everybody else, there are problems out there that can affect no matter where you live.”
BJP's hopes for 2024 soar as outgoing year ends on happy note :-The Economic Times
France raises alarm on New Year’s Eve with ‘Very High’ terror threat linked to Gaza war: Report livemint 30 Dec 2023, 06:29 AM IST
Around 5,000 soldiers from Operation Sentinel, a military initiative designed to safeguard the French population from terrorism, along with 35,000 firefighters, will be deployed.
In Paris, where an estimated 1.5 million individuals are anticipated to gather on the Champs-Elysees for the New Year's Eve countdown, 6,000 officers will be actively patrolling. Additionally, police will be authorized to incorporate drones into their operations for the first time.
Meanwhile, in anticipation of potential violence, Germany is making preparations, and authorities have declared one of the most extensive police operations in years to ensure the security of the streets of Berlin.
According to the report, Nancy Faeser, the German interior minister, said, she was “concerned that New Year’s Eve could once again be a day on which we experience blind rage and senseless violence".
She stressed violence had increased on December 31 in recent years. Feaser added, “Of course, we have to keep a very close eye on the danger of this mixing with radicalisation, which we are now seeing in light of the Middle East conflict."
Approximately 4,000 police officers will be stationed across the German capital, with additional support from officers brought in from various regions. Germany has experienced a rise in reported terror plots since the commencement of the Gaza conflict, leading to the closure of Cologne Cathedral over Christmas due to concerns about a potential Islamic State (IS) attack.
In France, Darmanin said, “The situation in Israel and Gaza had exacerbated the terror threats it was facing," but noted the country has been a “target for attacks for many years."
France elevated its counter-terrorism alert to its highest level in mid-October, following the fatal stabbing of a teacher in Arras by a radicalized former student who reportedly shouted “Allahu Akbar" during the attack. This incident occurred a week after Hamas initiated its attack on Israel on October 7.
At that time, Interior Minister Darmanin asserted a connection between the attack in Arras and the ongoing conflict in the Middle East.
NFRA finds certain lapses in audit quality of Walker Chandiok - Co The regulator initiated an audit quality inspection of Walker Chandiok & Co LLP in December last year and covered various aspects ;-Business Standard
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Friday, December 29, 2023
Elon Musk's Tesla to set up its first India factory in Gujarat, announcement likely during Vibrant Gujarat event livemint 28 Dec 2023, 03:37 PM IST
Tesla is all set to enter India with its manufacturing plant in Gujarat next year. The negotiation for the establishment of the first manufacturing unit of the EV maker in India has reached its final leg and is likely to conclude soon, according to media reports. The announcement related to the Tesla manufacturing unit in the state is likely to take place in the upcoming Vibrant Gujarat Summit, going to be held in January 2024, reported Ahmedabad Mirror.
For years, Gujarat has been a strategic location for the business environment. The state is already home to manufacturing units of automakers like Maruti Suzuki, etc. The possible location of the Tesla manufacturing plant could be Sanand, Becharaji, and Dholera, according to the Ahmedabad Mirror report.
Till now, there has been no official announcement by the EV maker or by the state government in the matter. Recently, Gujarat Health Minister and government spokesperson Rushikesh Patel expressed optimism about Elon Musk's investment in Gujarat.
While addressing a Cabinet briefing on Thursday, Gujarat Minister Rushikesh Patel drew a parallel between Gujarat's awareness and alignment with Tesla's overarching goals.
He also emphasised that the government is actively in talks with the EV maker to finalise the deal on establishing the manufacturing plant in Gujarat.
According to media reports, Gujarat has emerged as a top destination for Tesla to set up its manufacturing plant not just because of the state government's policies but also because of its proximity to ports to enable the export of its products. The EV maker can boost its export from India from locations like Sanand due to their short distance from Kandla-Mundra port in Gujarat.
The vibrant Gujarat Global Summit was conceptualised in 2003. The tenth edition of the Vibrant Gujarat Summit will celebrate "20 years of Vibrant Gujarat as the Summit of Success". The summit serves as a global forum for business networking, knowledge sharing, and strategic partnerships for inclusive growth and sustainable development.
Modi Budget@10 | Direct tax collection to triple to Rs 19 lakh crore in 10 years under Modi government At this pace, the mop-up is likely to be around Rs 19 lakh crore in the fiscal ending on March 31, 2024, exceeding the estimate of Rs 18.23 lakh crore in the 2023-24 Budget. :-moneycontrol news
In 2019, the government offered a lower rate of tax for corporations who forego exemptions.
Personal income and corporate tax collections are likely to rise to more than Rs 19 lakh crore during Prime Minister Narendra Modi's 10-year rule. This rise in income tax collections is due to the increasing income of individuals.
According to reports, net direct tax collections after adjusting for refunds have grown from Rs 6.38 lakh crore in FY 2013-14 to Rs 16.61 lakh crore in FY 2022-23. Furthermore, collections from net direct taxes, including personal income tax and corporate tax, have grown by 20 per cent so far in the current financial year.
Direct tax collections cross Rs 11 lakh crore in October, up 18% YoY: Fin Min
At this pace, the mop-up is likely to be around Rs 19 lakh crore in the fiscal ending on March 31, 2024, exceeding the estimate of Rs 18.23 lakh crore in the 2023-24 Budget.
The government has been trying to make the tax regime simpler with lower rates and fewer exemptions. In 2019, the government offered a lower rate of tax for corporations who forego exemptions. A similar scheme was introduced for individuals in April 2020. In the 2023-24 Budget, the new income tax regime for individuals was made more attractive by rationalising the tax slabs, raising the basic exemption limit to Rs 3 lakh, and including a standard deduction of Rs 50,000. It has also been made the default tax regime in the income tax return form.
However, the government's proposal to include credit card spending in foreign currency under RBI's Liberalised Remittance Scheme's (LRS) annual limit of USD 2.50 lakh per person faced a strong backlash from the public. The move to bring foreign credit card spending under LRS would have also meant that taxes collected at Source (TCS) would be required to be deducted at the time of making payments. Banks also conveyed that there would be compliance issues while deducting the TCS, and subsequently, the government had to defer the implementation of the proposal.
The number of ITRs filed by individual taxpayers has increased from 3.36 crore in 2013-14 to 6.37 crore in 2021-22, indicating a widening of the tax base after various reform measures put in place by the Income Tax Department. In 2023-24, 7.41 crore returns have been filed till October 26, 2023, including 53 lakh returns by first-time filers.
On February 1, the government will present a vote on account as general elections are due in April-May. The full Budget is likely to be presented in July 2024 by the new government to be formed after the elections. Lisation of the tax administrations and continued focus on formalisation of the economy have contributed to higher tax compliance rates.
It has been reported that direct tax collections have grown at around 20% in the current fiscal year (April-March), and the Goods and Services Tax (GST) collections have also been scaling a new peak every year. This trend is expected to continue in 2024 due to a strong economic performance. In April 2023, the monthly GST collection reached a high of Rs 1.87 lakh crore. The average gross monthly GST collection in 2023-24 stands at Rs 1.66 lakh crore, an 11% increase from the previous financial year.
The GST Council recently clarified that a 28% tax will be levied on the full amount put in at the time of entry into online gaming platforms. Additionally, the council has made it mandatory for all overseas online gaming companies to register with GST authorities. GST authorities have issued 71 show-cause notices to online gaming companies for alleged GST evasion of over Rs 1.12 lakh crore during financial years 2022-23 and 2023-24. Many of these companies have approached high courts seeking a stay on the demand.
FIRST PUBLISHED: DEC 29, 2023 11:15 AM.