India could make public next week the draft e-commerce policy proposing a dedicated regulator for the sector. The draft, focussing on special measures for rural e-commerce, job creation and infrastructure, could be made public next week after a group of secretaries reviews it on Monday. The Department for Promotion of Industry and Internal Trade (DPIIT) […]
Archives for March 2020
Amid high demand, e-grocers delay and cancel orders as more consumers shop online
Illustration: Rahul Awasthi Unable to handle the sudden surge in demand, India’s two largest grocery players, BigBasket and Grofers, have started delaying orders by days and in some cases cancelling those, while also selectively shutting down certain delivery pin codes. On Friday, raging consumers took to microblogging site Twitter to complain as more people opted […]
Should clients sell anything in their 401(k)?
Welcome to Retirement Scan, our daily roundup of retirement news your clients may be talking about Should clients sell anything in their 401(k)?Clients should think twice before selling stocks held in their 401(k)s amid the current market downturn, writes a CFP for Morningstar. That’s because a market correction is normal, and stocks are likely to […]
Coronavirus and financial reporting: Report addresses key issues
As the coronavirus outbreak puts pressure on health care systems and wreaks havoc on businesses throughout the world, the duty of financial statement preparers and CPA practitioners remains the same. Regardless of the changing environment, preparers need to make sure the information their organizations present on financial statements is reported in accordance with GAAP. Auditors […]
Final regulations address covered assets acquisition rules
The IRS finalized temporary and proposed regulations that are designed to prevent taxpayers from misapplying the Sec. 901(m) statutory disposition rule in certain dispositions of relevant foreign assets (RFAs), including where the gain or loss from the disposition of an RFA is recognized for U.S. income tax purposes but not for foreign income tax purposes, […]
Weekend Reading for Financial Planners (Mar 21-22)
Executive Summary Enjoy the current installment of “weekend reading for financial planners” – this week’s edition kicks off with the news that the Federal government is officially moving the tax filing deadline from April 15th to July 15th, not only allowing tax payments to be deferred but the entire tax filing process (though it remains […]
Tax filing deadline moving to July 15, Treasury secretary announces
News Procedure & Administration By Alistair M. Nevius, J.D. {:else} {timeSince} {/if} {@if cond=”{isCGMA}”} {:else} {/if} {/.} Treasury Secretary Steven Mnuchin announced on Friday that tax returns normally due on April 15 will not be due until July 15 this year. The news came in a tweet, and the IRS has not yet issued official […]
Podcast: Planning opportunities in a volatile market
Health concerns related to COVID-19 are top of mind and finances are likely a close second. No one can control market volatility and often the portfolio advice during this time is to hold steady. However, there are proactive income tax planning techniques that work well in a volatile market, reinforcing your value and reassuring your […]
LPL’s coronavirus response adds service hours, sends 70% of staff to remote work
The nation’s largest independent broker-dealer issued a roll call of actions it’s taking to help financial advisors guide clients through the coronavirus pandemic and historic market volatility. LPL Financial has extended service hours for its 16,500 advisors, planned for contingencies with its most important vendors and enabled about 70% of its more than 4,000 employees […]
Indian government asks social media firms to curb Covid-19 fake news
The Indian government has written to top social media companies including Facebook, YouTube, TikTok, ShareChat and Twitter, to control the spread of misinformation on Covid-19. In an advisory sent on Friday, the government asked social media platforms to start awareness campaigns, remove misinformation from the platform and promote authentic information on the virus. ET has […]