Dinesh Kanabar has been appointed for a five-year tenure, subject to the approval of the shareholders, according to an RIL exchange filing.
Jammu and Kashmir Lieutenant Governor Manoj Sinha was the chief guest at the awards.
Chetan Ahya, Co-Head Of Global Economics & Chief Asia Economist, Morgan Stanley expects fiscal deficit target to be kept around 3.3 percent. He also believes an increase in PSU bank recapitalisation to Rs 25,000 crore will lift sentiment.
India Inc is expecting some move on easing the country's tax system in the upcoming Budget. Dramatic simplification of income tax process and rates is expected, especially for the small industries, said V Vaidyanathan, Chairman of Capital First.
The central board of direct taxes has issued guiding principles to determine place of effective management (POEM) of a company, reports CNBC-TV18. The new guidelines will be applicable from assessment year 2017-18.
In an interview to CNBC-TV18‘s Shereen Bhan, Dinesh Kanabar of Dhruva Advisors, Harishankar Subramaniam of EY, MS Mani of Deloitte India and Pratik Jain of PWC India speak about the GST and its delay in the roll-out.
"This is a positive move as it creates a level playing field among all jurisdictions and would help prevent arbitrage that was rampant in India," says Dinesh Kanabar, Chief Executive Officer of Dhruva Advisors.
In a speech delivered at a SEBI event in Mumbai on Saturday, Prime Minister said "Those who profit from financial markets must contribute to nation-building through taxes."
Speaking to Ramesh Damani, Member of BSE said that they do pay their share of taxes in the form Securities Transaction Tax.
Speaking to CNBC-TV18, Dinesh Kanabar, CEO of Dhruva Advisors said, "Negative point would be that the foreign investors will now budget taxes and therefore will want higher returns and will allocate funds to India only if the net of tax returns meet their threshold."
As per CNBC-TV18 report, Anand Mahindra has been appointed as member of NSE CEO search panel. Mahindra will join the four-member panel to find replacement for Chitra Ramkrishna. The panel also includes Dinesh Kanabar and Mohandas Pai.
The proposed amendment is likely to increase the tax rate from 30 percent to close to 60 percent. The I-T department has also proposed to add powers to confiscate and prosecute.
Senior journalist Arun Giri caught up with Dinesh Kanabar of Dhruva Advisors who believes that the goods and services tax (GST) will be aided by the demonetisation scheme.
Deposits made above Rs 10 lakh are to be treated as cases of tax evasion and along with imposing tax an additional penalty of 200 percent will be levied on deposits that don't match their tax declarations.
The Goods and Services Tax (GST) Council headed by Finance Minister Arun Jaitley Tuesday discussed multiple tax rates under the new tax regime.
Speaking to CNBC-TV18 on the implications of EU holding agreements entered into by Ireland as being illegal or contrary to EU directives, Kanabar says it is worrisome as a lot of companies park their funds at Ireland and if each one was to be called on for paying up then financial impact would be huge.
Top stock exchange NSE has revamped its board, appointing three new public interest directors including chairman of Manipal Global Education Services and Infosys' former director Mohandas Pai.
The transition mechanism whereby the tax is slowly raised over three years is a measured one. It is a smooth transition, says Dinesh Kanabar, CEO, Dhruva Advisors.
While journalists from the Indian Express which published the report on the Panama Papers leak say resident Indians couldn't have followed the law of the land in spirit, experts say media should not paint everyone with the same brush.
Dinesh Kanabar, CEO, Dhruva Advisors, says the report indicates that it is just over a period of time that this will be extended to several other transactions also
Reacting to the Arun Jaitley‘s Budget speech, Dinesh Kanabar, CEO of Dhruva Advisors said the FM's decision to get some state-run companies to issue bonus debentures instead of dividends was a positive as it would reduce the strain on their cash positions.
Recent reports have suggested that the government is mulling whether to change the definition of 'long term' from one year to three years, thus ensuring that investors don't exit till three years unless willing to pay tax.
The Big Tax Reset – Ep 1