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India's data bill worries everyone, including the man who penned it

The man who led the committee says Data Protection Bill could potentially ensure no oversight on govt agencies.

KPMG

Dec 12, 2019, 01.20 PM IST

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KPMG

TCS becomes first Tata company to extend medical cover benefits to LGBT employees

Up to 50% of the cost of sex/gender reassignment surgery will be covered by insurance.

Breather for BPOs: Government withdraws contentious GST Circular on back office support services

The Circular was ambiguous and continued to ...

Coal-fired plants may have to scale down utilisation to 35% by 2022: KPMG

“Even a scenario with 130 GW of renewables instead of the planned 1...

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  • However, while the Ordinance said that the lower MAT will be effective immediately, the Bill said the reduced MAT will come into effect from next financial year.

    The case for tighter auditing has been bolstered by public statements from regulators and accounting watchdogs highlighting the potentially systemic risks that climate change could pose. The investors said they were concerned that climate change was being “ignored” in accounting and audits. The letter was seen by Reuters and its contents are being made public for the first time.

    India’s second-quarter GDP data is to be released on November 29. In the recent past, auto sales, consumption, real estate sales and bank credit data have pointed to a demand slowdown. India’s industrial production shrank for the second consecutive month in September, its worst performance in the series that began in April 2012.

    There is also uncertainty caused by poor capital formation. The banks are flush with funds but are risk averse. Credit growth has fallen to 2.7% for industry, the lowest in 12 months. And for services, after clocking over 20% between April 2018 and February 2019, it has plummeted to 7.3% , the lowest in 24 months.

    The company’s shares are already down more than 90 per cent so far this year.

    The audit has found that mortgage lender has disbursed loans and advances to inter-connected entities that appear to be linked to its promoters. Repayments by 28 such entities worth Rs 12,541 crore are not traceable.

    Delay in the issuance of refunds has been a sore point for exporters since the switchover to goods and services tax (GST) regime in July 2017. The new directive from the Central Board of Indirect Taxes and Customs (CBIC) follows assurance from finance minister Nirmala Sitharaman to the industry on easing of compliances.

    Whether IPOs are PE backed or not, there’s a mystery surrounding them.

    Excluding 11 PSUs, the average listing returns by 26 non-PE backed companies stood at 23.3%.

    "India will see an investment of USD 100 billion by 2024 in oil refining, pipelines, city gas distribution networks, and LNG terminals. Of this, USD 60 billion will flow into the creation of gas infrastructures such as pipelines, city gas networks, and import terminals," the petroleum minister said while speaking at KPMG's Enrich 2019 conference.

    Uber's total revenue rose nearly 30% to $3.81 billion, while net loss widened to $1.16 billion in the quarter ended September 30, the company said in a statement.

    The third largest mortgage lender had sought a Rs 15,000-crore lifeline from the lenders as they finalise the resolution plan, which may also include picking up 51 percent equity in the company by converting their debt into equity.

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