Uber appoints Balaji Krishnamurthy as its CFO
Ride-hailing platform Uber on Wednesday said it has appointed Indian-origin Balaji Krishnamurthy as its chief financial officer.
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CBDT chief says 88% of individual taxpayers have opted for new tax regime
A significant 88% of individual taxpayers have opted for the new tax regime, with the government not planning a sunset clause for the old regime. The new regime offers lower tax rates and exemptions for those earning up to Rs…
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No tax risk for foreign companies setting up data centres in India under new Budget proposal: Finance Ministry sources
Foreign companies offering cloud services globally will benefit from a 20-year tax holiday. This incentive is available to those using MeitY-notified data centers in India. Overseas firms face no risk of their global income being taxed in India. The move…
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Foreign cloud companies will get 20-year tax rebate, but conditions apply
Foreign cloud providers in India will receive a 20-year tax exemption on global income if they use notified Indian data centres and sell via local resellers. Domestic profits remain taxable, with a 15% safe-harbour for related entities. The move aims…
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Cigarette tax hike may boost illicit trade, hurt employment and tax revenue: Report
With the new excise tax on cigarettes set to drive up prices, authorities may unwittingly trigger a rise in clandestine cigarette trade. This could pose challenges for tax collection efforts, while farmers dedicated to FCV crops might experience a slump…
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Govt to expand trust-based tax regime, create large pool of 'trusted entities': Revenue Secretary
The government plans to expand the concept of trusted entities beyond the existing Authorised Economic Operator (AEO) framework, said Arvind Shrivastava, Revenue Secretary, Ministry of Finance. He said trusted manufacturers, importers or exporters who regularly deal in known goods from…
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