BUSINESS
Hearing on online gaming taxation, regulation by states enters final week in Supreme Court
The apex court will hear the arguments by Karnataka and Tamil Nadu on their decisions of banning or curbing online gaming through respective local legislations, as the hearing on the taxation matter of over 100 e-gaming firms and casinos concluded last week
BUSINESS
Labour ministry examining delayed onboarding of 600 lateral hires by TCS, says official
The labour ministry lacks the statutory authority to compel a private employer to onboard hires unless a clear legal violation is established, experts say.
BUSINESS
Online gaming addiction leads to impoverishment: Karnataka in SC, justifying curbs
Instances of online gaming are contributing to a rise in criminal activities, indebtedness and growing gambling addictions among broad sections of the society, the state argued.
BUSINESS
India-UK FTA: Alcobev sector cheers halved tariffs on scotch and gin
Under the FTA, the total customs duty on imported alcoholic spirits, limited to whisky and gin from the UK, will be halved at the first stage of entry-into-force from 150 percent to 75 percent, followed by a progressive reduction to 40 percent over the next decade
BUSINESS
States allowing women to work night shift a gamechanger: Labour Secretary
The labour ministry has constituted a taskforce which is working on formulating 'actionables' to enhance women’s participation in workforce, Vandana Gurnani has said
BUSINESS
Govt likely to extend electronic manufacturing scheme beyond July on high interest: Official
The Rs 23,000-crore directly-funded ECM scheme was launched on May 1, aimed at addressing the demand-supply deficit in the electronic component segment
BUSINESS
Chirag Paswan calls for GST rationalization, raising food regulations to global standards
On regulations concerning the FPI sector, the minister said that there is need to enhance the regulatory regime of FSSAI, and match with international standards
BUSINESS
Finance Ministry backs equity status for REITs, InvITs; Decision likely in SEBI's next board meet
SEBI has also suggested increasing the investment limits for MFs in REITs and InvITs, from 10 percent of the (equity and hybrid) scheme’s net value (NAV), to 20 percent, which could be approved in its next meeting as well.
BUSINESS
Farm ministry flags higher diversion of maize for ethanol amid concerns over import dependency
These concerns that were conveyed to the petroleum ministry stem from India becoming import dependent for a grain that it typically exports.
BUSINESS
Parl Panel report on Income Tax Bill focuses on taxpayer protection, reduced compliance
One key recommendation is to provide flexibility to small taxpayers for allowing refund claims in cases where the return is not filed on time.
BUSINESS
Monsoon, incomes and incentives fuelling India's rural consumption boom
Improved credit availability from NBFCs, increased government spending, a supportive kharif harvest, the onset of festive season-related demand and a backdrop of low inflation will drive rural consumption in H2FY26, according to one economist Moneycontrol spoke to.
BUSINESS
Government may allow you to dip into your PF once every 10 years
If the changes being considered are implemented, members could be allowed to withdraw their entire corpus even in their 30s
BUSINESS
Higher crop output expected in 2025 but uneven distribution of rains could be a spoiler: Govt source
Early monsoons do not necessarily always translate into higher production, though such results are probable and expected by the government, an official told Moneycontrol. There needs to be caution in such conditions as some areas might be prone to flooding or drought, resulting in crop destruction.
INDIA
Income Tax officers raid over 200 premises to nab suspects facilitating fake I-T refunds
"It’s recently being seen that net tax collections growth of the central government is much lower than expected. Fake refunds are a major issue," an Income Tax officer told Moneycontrol.
BUSINESS
Indian delegation in US for another round of trade talks
The talks come amid India’s broader push to expand its network of free trade agreements (FTAs) with several countries.
INDIA
Army veterans face problems with pension portal SPARSH
India's defence veterans face hardship after switch from old pension disbursement system to new online portal
BUSINESS
States lead on labour reforms, pave way for women’s night shifts amid Centre’s code delay
Several major labour reforms have been carried out by almost all states. For instance, Gujarat and Andhra Pradesh have amended the Factories Act to allow for 12-hour shifts while retaining a 48-hour weekly limit. Many states have also harmonised the adherence and expansion of social security for gig workers.
BUSINESS
Bharat Bandh political, aimed at derailing labour reforms, says official
The striking unions have no concrete action plan on labour reforms and have an anti-development agenda, the official has said
BUSINESS
Crypto under scanner: FIU scrutinising use of private wallets for illicit fund transfers from Pakistan
Sources say Binance is being probed as it's used in most cases for cross-border crypto-transactions.
INDIA
India may have agreed to non-GM soybean, corn imports from US: Niti Aayog's Ramesh Chand
The US has been demanding access for GM soybean and maize. In 2020, 94 percent of the soybean and 92 percent of the maize grown in the US were genetically modified
BUSINESS
No major economic impact of labour strikes, labour reforms already implemented: Govt sources
Many non-BJP ruled states, such as Punjab, Himachal Pradesh, Karnataka, Jharkhand, Tamil Nadu, and Telangana have also implemented most of the reforms. Only two states--West Bengal and Kerala—have, however, undertaken only a few reforms linked to the central codes.
BUSINESS
EPFO credits 8.25% interest to 97% members as of July 8
Last year, for FY24, the process of crediting the interest to members’ accounts commenced in the month of August and got completed in December
BUSINESS
'Niggling issues' in India-US mini-trade deal may get resolved in near future, says EAC-PM member Sanyal
Sanyal says that both nations need to reach a middle-ground even as conversations for the mini-trade deal has progressed “quite far”
BUSINESS
GST at 8: MSMEs continue to face rising compliance costs and hurdles
As GST, India's most ambitious tax reform, completes eight years, Moneycontrol does a ground check on the challenges that MSMEs face. While the consensus is that the reform has simplified compliances but challenges such as ITC denial, HSN related complexity remain.
