What is Dividend Distribution Tax & how will its abolition impact the economy?
A dividend is a sum of money given by a company to its shareholders out of the profits earned. Dividend distribution tax is the tax levied on the dividend paid by a company to its shareholders. The provisions of DDT were introduced by the Finance Act 1997. Only a domestic company is liable and has to pay the tax even if it is not liable to pay any tax on its income.
The fund manager who called smallcap peak in 2018 says it’s time to buy them
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Rs 4,500 crore mutual fund money at stake in Voda Idea; Templeton markdown hits 6 schemes
The telco’s survival will now depend on its ability to garner funds to pay the statutory dues.
Enforcement Directorate names JSW Steel in BPSL case
The Enforcement Directorate on Friday filed a charge sheet against former Bhushan Power and Steel Ltd CMD Sanjay Singal and others in a multi-crore money laundering case linked to an alleged bank loan fraud.
NCLAT asks investigative agencies to clarify over JSW Steel's immunity in BPSL matter
A three-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya asked the agencies to file their reply affidavits by January 20 stating whether after insertion of section 32 A in the Insolvency and Bankruptcy Code (IBC) last month, JSW Steel has immunity from the alleged fraud committed by the previous BPSL managemet.
Budget 2019 highlights: Everything Nirmala Sitharaman announced then
In her Budget last year, finance minister Nirmala Sitharaman took a pragmatic approach by announcing no changes in personal income tax rates but levying an additional surcharge on the super rich.
Gaurs Group raises rs 450 crore to pare debt, complete mall
The group, which is developing projects in Noida, Greater Noida West, Ghaziabad and Yamuna Expressway, has a debt of Rs 2,000 crore of which Rs 700 crore is Lease Rental Discounting (LRD), while Rs 1,300 crore is from NBFCs and banks. In March 2019, it had raised Rs 500 crore from Kotak Mahindra Bank.
IL&FS case: NCLAT to provide formula for distribution of proceeds among creditors
The tribunal have also asked some of the lenders to file revised framework proposed by the Ministry of Corporate Affairs within a week, stating their position in the resolution of IL&FS group, which has a cumulative debt of over Rs 90,000 crore.
HCC climbs 10% as lenders initiate carve-out of Rs 2,100 crore debt
The move will significantly deleverage the company and address its asset-liability mismatch.
Amfi proposes a 17-point budget wish list
Association of Mutual Funds in India (Amfi) has proposed several points for the Budget 2020 to help take Indian mutual fund Industry to next orbit of growth.
Essar resolution to have significant impact on financial ecosystem: Satish Gupta, Essar's Resolution Professional
"The resolution of Essar Steel with realisation of more than Rs 42,000 crore has significant impact on financial ecosystem. With availability of funds and committed additional infusion of Rs 8,000 crore by ArcelorMittal, Essar Steel’s under-utilised productive asset can now operate at its optimal level of production and enhance capacity utilisation," the resolution professional of Essar Steel said.
Gaurs Group raises Rs 450 crore to pare debt, complete mall
“Of the amount, Rs 325 crore has been used to repay part of Rs 640-crore funding we had availed from Punjab National Bank Housing Finance (PNBHFL) almost a year back. Rest of the amount will be used for the construction of Gaur City mall in Greater Noida (West),” said Vineet Singhal, group CFO of the Gaurs Group.
Vodafone Idea may seek more time from Supreme Court to pay dues
The telco had filed a review petition, hoping for a reduction in penalties, which account for 75% of the dues.
Stocks in the news: RIL, Bharti Airtel, TCS, YES Bank, Vodafone Idea and HCL Tech
Sources told PTI that no AGR demand notice was served either on GAIL or PowerGrid.
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