The Department for Promotion of Industry and Internal Trade (DPIIT) is expected to soon issue a clarification on the issues raised by certain stakeholders over the government‘s decision to permit 26% FDI in digital media sector, according to sources. Certain industry players and experts have stated that the move to cap foreign direct investment (FDI) […]
Archives for December 2019
Aramco CEO says Saudi-Kuwaiti accord paves way for resumption of oil production
Saudi ARAMCO said on Wednesday a new agreement between Saudi Arabia and Kuwait paves the way for the resumption of oil production in the Neutral (partitioned) Zone shared by the two countries.
Parsing The Difference Between Rollovers And Transfers To Avoid Retirement Account Penalties And Confusion
Executive Summary When distributions are taken from tax-deferred retirement accounts, ordinary income taxes are due. However, sometimes funds may simply need to be moved from one retirement account to another – perhaps because an employee is retiring or switching jobs and chooses to move their 401(k) from their old employer to another 401(k), or to […]
Section 87A – Most important change for Income Tax Payers in Budget 2019
Section 87A was introduced in Budget 2013 and it provides marginal relief to small tax payers. In this post we provide details about the eligibility, the benefits and how it has changed since it was first introduced. Section 87A Eligibility: The tax rebate under section 87A is only available to resident individuals with net taxable […]
Internet shutdown leaves UP at a net financial loss
The internet shutdown in parts of Uttar Pradesh due to the protests over the Citizenship Amendment Act has hit banking services, including movement of cash and branch operations. Bankers told ET that transactional services had come to a halt, and merchants were finding it hard to conduct business. “We have seen our business in certain […]
Foodpanda losses widen to Rs 756.4 crore in FY19
Foodpanda, owned by ride-hailing company Ola, has posted a wider loss of Rs 756.42 crore for FY19 compared to the previous fiscal, as per regulatory documents. Pisces Eservices, which operates Foodpanda, had registered loss of Rs 227.95 crore in FY2017-18, documents filed with the Corporate Affairs Ministry and accessed by business intelligence platform Tofler showed. […]
Payments banks’ FY19 losses swell to Rs 626 crore
Payments banks — including those floated by Paytm, Reliance Jio, Airtel and Fino — saw their aggregate losses mount 21% to Rs 626 crore during fiscal 2019 from Rs 516 crore in the previous year. “The limited operational space available to them and the large initial costs involved in setting up of the infrastructure imply […]
RBI introduces new Prepaid Payment Instrument for your daily grocery payments
The Reserve Bank of India has given Indian consumers a new option to make their daily payments at local shops and retail outlets for the purchase of daily household goods and services. In a bid to give increased impetus to small ticket digital payments RBI on Tuesday has introduced a new Prepaid Payment Instrument (PPI) […]
Digital-first brands took just three years to hit Rs 100 crore revenue
Digital-first brands such as BoAt, WoW Skin Sciences, MamaEarth and LifeLong have hit Rs 100 crore in revenue run rate within 24-36 months of launch, a milestone that used to take at least five years earlier, investors said. The brands — in the personal care, FMCG, electronics and appliances sectors — achieved traction quickly as […]
Best of the Blog 2019: Part I
We’re wrapping up a decade, readers! And the last year in this decade has been another good one for the FPA Practice Management Blog powered by the Journal of Financial Planning. This holiday season, we’re recapping the top 10 most-read blog posts of 2019 in two separate posts. Take a look part one of the […]