The requirement to issue TDS and TCS certificates is increasingly seen as redundant. (AI image) India’s tax deduction at source (TDS) framework, originally designed as a mechanism to ensure steady revenue inflows and improve tax compliance, has over the years become a source of complexity, cash-flow stress and litigation for businesses. With the scope of…
The initial public offering of Bharat Coking Coal Ltd (BCCL), a Coal India subsidiary, was subscribed 33.6 times on the second day of bidding on Monday, reflecting strong demand from non-institutional and retail investors, exchange data showed.The Rs 1,071-crore issue received bids for 11,65,79,29,200 shares against 34,69,46,500 shares on offer, according to data available with…
A US federal court in Chicago on Monday began hearing a second damages trial against Boeing over the fatal 2019 crash of an Ethiopian Airlines 737 MAX aircraft, as a Canadian plaintiff sought compensation for the loss of multiple family members in the tragedy.The case has been filed by Manant Vaidya, whose sister Kosha Vaidya…
The TOI correspondent from Washington: US President Donald Trump is on the warpath against Venezuela, Cuba, Iran, Greenland — and the Federal Reserve. In a move that has rattled financial markets and political circles alike, the Trump administration’s Justice Department has launched a criminal investigation into Federal Reserve Chair Jerome Powell, marking an unprecedented clash…
Net direct tax collection grew about 8.82 per cent to over Rs 18.38 lakh crore in the current fiscal till January 11 due to slower refunds and better corporate tax mop-up.Data released by the Income Tax Department on Monday showed that net corporate tax collection grew 12.4 per cent to over Rs 8.63 lakh crore,…
Reserve Bank of India Deputy Governor Swaminathan J on Friday called for a fundamental shift in banking supervision, stressing that oversight must move from periodic, point-in-time assessments to continuous awareness, as digital risks increasingly redefine financial stability, PTI reported. Speaking at the Third Annual Global Conference of the College of Supervisors on ‘Issues and Challenges…
Employee Stock Option Plans (ESOPs) have emerged as a critical tool for companies to attract and retain talent. Yet, despite their growing use, especially in multinational group structures, the tax treatment of ESOPs in India continues to be riddled with uncertainty, leading to disputes for both employers and employees.Two areas warrant urgent attention which Budget…
IT services firm HCLTech on Monday reported an 11.2% year-on-year decline in consolidated net profit to Rs 4,076 crore for the October–December quarter of FY26, compared with Rs 4,591 crore in the year-ago period.The Noida-headquartered company, however, posted strong top-line growth, with revenue from operations rising 13.3% to Rs 33,872 crore in the third quarter,…
Indian stock markets will remain closed on January 15 after exchanges revised their schedules in view of municipal corporation elections in Maharashtra. Both BSE and NSE have now declared a full trading holiday for the day, replacing an earlier notification that had marked it only as a settlement holiday, ET reported.According to BSE, trading across…
Gold futures rallied sharply on Monday, touching fresh record highs in domestic and international markets as investors flocked to safe-haven assets amid rising geopolitical tensions and renewed focus on developments around the US Federal Reserve.On the Multi Commodity Exchange (MCX), gold futures for February delivery jumped by Rs 2,431, or 1.8%, to hit a record…
