BUSINESS
US wants crypto transfers over $10K to be reported to IRS
"Cryptocurrency already poses a significant detection problem by facilitating illegal activity broadly including tax evasion. This is why the President's (Joe Biden) proposal includes additional resources for the IRS to address the growth of cryptoassets," the department said in a statement on Thursday.
Sensex up 600 points, Nifty reclaims 15,000 mark
The Nifty on the National Stock Exchange also traded above the psychological level of 15,000 points. The across-the-board gains were led by banking and finance stocks. At 10.22, Sensex was trading at 50,156.73, higher by 591.87 or 1.19 per cent from the previous close of 49,564.86 points.
US Treasury proposes global minimum tax rate of 15%
In a statement on Thursday, the Department said over the last two days, department officials participated in meetings with the Steering Group of the Inclusive Framework on base erosion and profit shifting, as part of the Organization for Economic Cooperation and Development (OECD)/G20 international tax negotiations, reports Xinhua news agency.
International Finance Corporation to invest $15M in South Asia Growth Fund II
The Fund's offshore sponsor is GEF Capital Partners, LLC, a Delaware limited liability company (GEF Capital). The Fund will engage GEF Capital to carry out certain investment management and administration duties. GEF Capital was founded in 2018 and is led by Raj Pai, Sridhar Narayan and four other partners, IFC said.
Bosch India's net profit down 26%
The company's annual net profit for FY20-21 stood at Rs 482.5 crore as against Rs 649.8 crore reported for the corresponding previous year. The company had made a provision of Rs 743.8 crore towards various restructuring, reskilling and redeployment initiatives during FY21. On a quarterly basis, the net profit after tax (PAT) increased to Rs 482 crore from Rs 81.1 crore in Jan-March 2020.
Govt further extends tax compliance timelines; individuals can file returns by Sept 30
Accordingly, the Central Board of Direct Taxes (CBDT) has now extended the due date for furnishing of Return of Income for the Assessment Year 2021-22, which is 31 July, 2021 by couple of months to 30 September, 2021.
I-T department to launch new e-filing Portal on June 7
The new e-filing portal is aimed at providing taxpayer convenience and a modern, seamless experience to taxpayers, ministry of finance said in a statement.
RIL well-placed in consumer business: Survey
BofA Securities conducted an online survey of 1,000 users in India (using Survey Monkey) to gauge the changing consumer thought process and understand traction. Key insights of the survey showed that on mobile tariffs, 69 per cent of the surveyed users don't mind paying 15-20 per cent higher telco tariffs.
Global cues, slowdown fears subdue equities, metal stocks fall
Both the key indices started on a positive note with a gap-up opening, but ceded their initial gains soon afterwards. Among sectors, realty was the only major gainer while metals, banks, and oil and gas were the main losers.
Global cues subdue equity markets, metal stocks fall
At 11.50 a.m., the S&P BSE Sensex traded at 49,921.61, higher by 18.97 points, or 0.04 per cent, from its previous close. Similarly, the Nifty50 of the National Stock Exchange traded at 15,014.25, up by 15.90 points, or 0.11 per cent, from its previous close. Besides, both the key indices started on a positive note with a gap up opening, however, ceding their initial gains soon afterwards.
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