Deloitte Financial News

NDA government has scrapped 39,000 unnecessary compliances and 1,500 archaic laws, finance minister Nirmala Sitharaman said Wednesday, highlighting a raft of steps taken by authorities to ensure ease of doing business in the country. Speaking on the occasion of the 55th foundation day of the Institute of Company Secretaries of India (ICSI), the minister said the introduction of the Insolvency and Bankruptcy Code, simplification of regulatory framework, decriminalisation of minor offences and tax changes are among the reforms that have also bolstered the country's business climate.

₹5 crore kicked in on 1 August for businesses to report wholesale transactions in designated portals (called e-invoicing), it is natural that compliance in raising e-way bills for goods shipment will also improve, according to experts. The e-invoice transaction data feeds automatically into other tax documents like e-way bills and the GST returns, facilitating greater reporting and oversight of economic activity.

PwC Australia’s big four rivals KPMG, EY and Deloitte say they already have superior governance structures in place and do not need to emulate the sweeping reforms at the embattled firm following its tax leaks scandal.

London | Partners at the UK arm of Deloitte will earn more than £1 million ($1.9 million) again this year despite a recent slowdown in demand.

Dawn Desjardins, Deloitte Canada’s chief economist, talks with Financial Post’s Larysa Harapyn about how the housing market pause will persist. Desjardins discusses the state of Canada’s economy and the road ahead.

Big Four has gathered pace with each firm looking to beef up its advisory practice and fill gaps in its services portfolio amid scorching growth. Deloitte recently lured 150 members, including 15 partners, from KPMG to its tax division. After the development, KPMG actively courted 17-18 Deloitte partners along with their teams from the rival's risk and corporate investigation team who had earlier worked with the firm.

Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here! After a number of its investment board members stepped down in recent period, Byju's board currently comprises only of the founder Byju Raveendran and family members Divya Gokulnath and Riju Raveendran.

online gaming companies are in accordance with legal provisions, Central Board of Indirect Taxes and Customs (CBIC) chairman Sanjay Kumar Agarwal said on Thursday, ruling out any immediate review. He said the government was ready to implement the 28% GST regime for online gaming, horse racing and casinos following the GST Council’s decision of last month as soon as all states amend their respective laws. The Council will take stock of the tax regime in six months, as decided at its last meeting on August 2, he said.

He said the government was ready to implement the 28% GST regime for online gaming, horse racing and casinos following the GST Council's decision of last month as soon as all states amend their respective laws. The Council will take stock of the tax regime in six months, as decided at its last meeting on August 2, he said. «The department is taking a uniform stand in the interpretation of law and, accordingly, showcause notices are being issued,» Agarwal told reporters on the sidelines of a Ficci event, adding that all notices were based on internal data analysis. His comments came in the backdrop of many large online gaming companies — including Delta Corp and Dream11 — receiving tax demand notices running into thousands of crores. On August 16, ET first reported that the Directorate General of GST Intelligence (DGGI) would send notices to real money gaming (RMG) companies that had hitherto paid tax at a rate of 18% on gross gaming revenue, positioning themselves as platforms of 'games of skill.'

The top-earning 20 per cent of partners at big four consulting firms EY and PwC took home more than $1.3 million annually, well above the top managing directors at Accenture who earned more than $875,000, the latest, available figures show.

London | When Deloitte cautioned staff earlier this month that it planned to cut about 800 jobs in the UK, it blamed slowing growth and economic uncertainty.

A cash gift from parents is exempt from tax but taxpayers are required to report it in their Income Tax Return as exempt income. However, many taxpayers are unsure as to how and where they can report such gifts in ITR. Further, there seems to be some confusion about the formalities one should complete to remain clear in the eyes of the Income Tax Department.

Sebi has empanelled 34 entities, including Ernst & Young LLP, Deloitte Touche Tohmatsu India LLP and Grant Thornton Bharat LLP to conduct forensic investigation of mutual funds, their asset management companies (AMCs) and trustees. KPMG Assurance and Consulting Services LLP, Chokshi & Chokshi LLP, Nangia & Co LLP and Pipara & Co LLP are among the other empanelled entities, the Securities and Exchange Board of India (Sebi) said in a latest update. The period of empanelment is from September 20, 2023 to September 19, 2026, it added. These 34 entities have been empanelled after evaluation of all the applications in response to Expression of Interest (EoI) invited by the capital markets regulator in February. The entities are required to undertake acquisition, extraction and analysis of digital evidence from mobile, computers, tablets, hard drives and USB drives.

The battle for Sims’ LMS Energy has been won.

Amazon said on Tuesday that it will hire 250,000 full and part-time workers for the holiday season, a 67% jump compared to last year

The main disciplinary body for the major accounting firms says it “does not shy away investigating members in the big four firms” after revealing it sanctioned 17 members from big four accounting firms during the past seven years.

Deloitte is set to cut more than 800 jobs in the UK in response to a slowdown in demand and an easing in the pace of workers choosing to leave, according to a source familiar with the matter.

Selling a residential property is a huge task. You not only have to work hard to find the right buyer at the right price but also look for ways to park or invest the sale proceeds to save capital gains tax. For instance, Ashok Kumar recently shared with us that he sold his ancestral property in July 2023 and wants to invest the amount received from the sale in a flat to save capital gains tax.

Canada has no chance of building the additional millions of homes Canada Mortgage and Housing Corp. projects would be needed to restore housing affordability over the next seven years, according to the chief economist of Desjardins Group.

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Deloitte is planning to cut more than 800 jobs in the United Kingdom, a source told Reuters on Wednesday. The company is proposing some targeted restructuring that would result in the reduction of 3% of its workforce of 27,000 in the UK, a person familiar with the matter told Reuters. The move comes as Deloitte, one of the «Big Four» accounting firms, plans to focus on cost-cutting due to the slowdown in the second half of the current financial year as clients are being more cautious in their spending, the person said. A number of businesses have reduced their workforce in recent times anticipating a likely economic slowdown later in the year. In April, the Financial Times reported that Deloitte would slash around 1,200 jobs or 1.5% of its U.S. workforce.