Enterprise Financial News

India’s taxation framework and the intent behind it In recent years, India has found itself amid a promising Web3 landscape, characterized by a remarkable surge in startups. This evolution, however, has been accompanied by a taxation framework, one that has created implications within the country's Web3 ecosystem. The Finance Act, 2022 introduced Section 194S, which imposed TDS at the rate of 1% on sale of VDAs in India from 1st July 2022. Further, a high rate of income tax of 30% was also introduced on any income from transfer of VDA from 1st April. There are also further restrictions on available deductions and treatment of losses, with no setoffs allowed against other crypto gains. The objective behind these measures was three-fold: tracking VDAs transactions by Indian residents, discouraging speculation and trading, and building guardrails around VDAs for safeguarding Indian interest and ensure financial stability.

The Economic Times Startup Awards on Saturday, October 7. The star-studded event in Bengaluru is set to host a galaxy of business leaders, entrepreneurs, investors and policymakers — marking the ninth edition of the country’s most coveted awards for entrepreneurial excellence.

Nigeria’s leader has increased the wages of some government workers in last-minute efforts to appease labor unions whose planned strike this week could shut down government offices in all sectors of Africa’s largest economy

Click here! Govil said the expectation is that the number of resolutions may go up to 300 this financial year and also wondered whether that is "sufficient" to unclog the pipeline. Around 5,000 new cases are filed every year under the IBC, Govil said adding that the IBC ecosystem should have the capacity to deal with at least 1,000 resolutions. This can be done by filling up posts, improving processes and regulations, among others, he noted.

Five days before the worldwide launch of The Fall, writer Michael Wolff’s vicious deconstruction of the Murdoch family and its Fox News machine, Rupert Murdoch stepped down as chairman of both Fox Corporation and News Corp. Wolff claims some credit for that.

crypto company: Binance. Stablecoin issuer Circle Internet Financial Ltd. and crypto investment fund Paradigm Operations submitted filings this week arguing that the Securities and Exchange Commission had overstepped its authority when it filed charges against the world’s biggest crypto exchange in June. The SEC has alleged that Binance engaged in what the regulator described as “an extensive web of deception, conflicts of interest, lack of disclosure and calculated evasion of the law.” Binance has called the complaint “disappointing,” and said it had engaged with the SEC in good-faith negotiations to settle the matter.

investment projects worth Rs 3,663 crore. These projects, approved during a meeting of the State Level Single Window Clearance Authority (SLSWCA) held under the chairmanship of Chief Secretary Pradeep Kumar Jena, are expected to generate employment for over 13,500 people, an official statement said.

IPOs Next Week: The primary market witnessed some major listings in both main board and small- and medium-sized enterprise (SME) segments in the last week of September, which kept investors engaged with subscriptions and listings. Moving on, the first week of October sees strong market buzz - as several initial public offering (IPO) issues are closing and new companies are set to make their debut on D-Street. Let's take a look at some of the companies that are closing for subscription this week, along with few that are getting listed on the bourses.

traders in India are trying their luck on 'crypto perps', a futures product which they think could be a way to escape the stifling Tax Deducted at Source (TDS) imposed on virtual digital assets (VDAs). Tailored for punters with the stomach to absorb losses in a market that can suddenly and dramatically turn volatile after a long lull, it's an offering that is neither aggressively marketed nor formally launched by mainline platforms. In fact, in a departure from the loud advertisements seen at the peak of the crypto craze two years ago, these handful of service providers prefer playing down crypto futures — offering it to select clients, with one of the platforms describing the rollout as a pilot project in «beta phase». However, trade and crypto industry circles told ET that quite a few high-net-worth individual (HNI) investors who understand the pitfalls of the trade, are betting on 'perps' — or perpetual cryptocurrency futures which, unlike the more familiar stock or commodity futures, have no expiry date. While the platforms concerned display the perp window on their apps and sites, spell out the basic product features, and the caveats, the trade volumes are not disclosed.

Key Takeaways

Financial institutions are missing an important element of providing an effective service for clients from diverse backgrounds.

Personalized video interactivity is a dynamic tool that allows businesses to craft tailored and engaging video content for each individual customer. It goes beyond traditional marketing methods by leveraging data insights to create meaningful and immersive interactions. During this festive season, when customers are looking for unique experiences from their favorite brands, you can turn to the VSPAGY platform and send personalized offer videos to your customers at scale.

SBI Holding and TradeFinex will look to drive trade finance adoption of EVM-compatible enterprise blockchain XDC Network through a new joint venture in Japan.

completed its merger move with UK-headquartered satellite operator OneWeb in which domestic conglomerate Bharti Enterprises is a stakeholder. Shares of the newly-formed Eutelsat Group, in which OneWeb holds a 50% stake, were listed on the LSE at 8 AM GMT on Friday.

Gujarat Mineral Dvpt Corporation(up 12.09%), Orissa Minerals Development Company(up 7.24%), 20 Microns(up 4.75%), NMDC Ltd(up 4.26%), MOIL(up 3.74%), Coal India(up 1.72%), Aro Granite Industries(up 0.51%) and Lexus Granito(up 0.27%) stood among the top gainers. KIOCL(down 4.23%), Ashapura Minechem(down 3.49%), Madhav Marbles and Granites(down 0.89%) and Pokarna(down 0.68%) were among the top losers of the day.

The NSE Nifty index ended the session 114.75 points up at 19638.3, while BSE Sensex rose 320.09 points to 65828.41. In the Nifty index, Hindalco Industries Ltd.(up 5.53 per cent), NTPC Ltd.(up 3.59 per cent), Hero MotoCorp Ltd.(up 2.94 per cent), Dr.

Shares of Sobha Ltd.(up 4.45 per cent), Mahindra Lifespace Developers Ltd.(up 4.21 per cent), Oberoi Realty Ltd.(up 2.16 per cent), DLF Ltd.(up 2.07 per cent) and Godrej Properties Ltd.(up 1.1 per cent) ended the day as top gainers in the pack. On the other hand, Phoenix Mills Ltd.(down 1.91 per cent), Brigade Enterprises Ltd.(down 1.03 per cent) and Indiabulls Real Estate Ltd.(down 0.65 per cent) finished as the top losers of the day.

The NSE Nifty index closed 114.75 points up at 19638.3, while BSE Sensex ended up 320.09 points at 65828.41. On the other hand, Adani Enterprises Ltd.(down 2.48 per cent), LTIMindtree Ltd.(down 1.05 per cent), HCL Technologies Ltd.(down 0.57 per cent), Tech Mahindra Ltd.(down 0.54 per cent) and Power Grid Corporation of India Ltd.(down 0.50 per cent) were among the top losers of the day.

(Reuters) -Japan's Sony (NYSE:SONY) Group Corp said on Friday a merger of its Indian unit with Zee Entertainment Enterprises, which had an initial deadline of September, would take a few more months to complete.

Parag Milk(up 6.34%), Emami(up 5.02%), Tasty Bite Eatables(up 3.87%), Mrs Bectors Food Specialities(up 2.92%), Sheetal Cool Products(up 2.45%), Umang Dairies(up 2.04%), Prataap Snacks(up 1.93%), Patanjali Foods(up 1.40%), Colgate Palmolive(India)(up 1.33%) and P & G Hygiene(up 1.32%) stood among the top gainers. Hindustan Foods(down 5.83%), Jyothy Labs(down 2.32%), Dangee Dums(down 2.01%), Bikaji Foods International(down 1.35%), Euro India Fresh Foods(down 0.90%), Gillette India(down 0.53%), Heritage Foods(down 0.50%), Adani Wilmar(down 0.41%), ADF Foods(down 0.33%) and Dodla Dairy(down 0.27%) were among the top losers of the day.

NCLT) in August 2023, is still under process, Sony said in a statement. “Both companies continue to proceed with the necessary procedures to complete the transaction," says the statement.