Vodafone Idea, which reported a loss of Rs 6,439 crore in the December quarter, said it had received letters from the department of telecommunications (DoT) directing immediate payment of dues amounting to Rs 54,000 crores after the SC judgment. "The company is currently assessing the amount that it will be able to pay to DoT towards the dues calculated based on AGR, as interpreted by the Supreme Court in its order dated October 24, 2019. The company proposes to pay the amount so assessed in the next few days," it stated.
In a setback to telecom service providers, the Supreme Court on Thursday allowed the Centre's plea to recover adjusted gross revenue (AGR) of about Rs 92,000 crore from them.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Read the numbers carefully because no one can offer a credit card at zero cost or give a loan at a simple interest of 9%.
The companies have offered to pay upfront the principal amount due for licence fees and spectrum usage charges (SUCs) on the basis of adjusted gross revenue (AGR). This amount will not include the interest, the penalty, and the interest on the penalty.
Aakar Patel looks forward to Prime Minister Modi's speech at the bhoomi pujan for the Ram temple in Ayodhya next week. It will be entertaining and stirring, predicts Aakar, and make lots of promises that he most likely won't be able to keep.
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
Chingari, Roposo, Khabri and Trell are seeing huge traction as people are looking at options to earn incentives from home. Music streaming app Gaana, which is strongly placed in the market with 150 million users, recently opened up its short video platform for subscribers.
Hasmukh just doesn't make you laugh and that's its biggest tragedy, complains Moumita Bhattacharjee.
Oil sank to the lowest level in a month after shedding all of its gains from the US-Iran clash as traders waited to see whether any further hostilities will disrupt exports from the East Asia.
'The road ahead for the government's fiscal management will be full of many new challenges,' warns A K Bhattacharya.
Here's a ready reckoner on how to calculate your tax dues so that you can plan your investments accordingly.
The CAB will hold its 85th Annual General Meeting on September 28, as per Committee of Administrators' (CoA) diktat.
Profitability and cash reserves have halved since the global financial crisis.
The question on who should borrow from the market and whether the borrowing will be under two buckets should be decided by the GST Council, and not by the Centre. If there is no consensus, there has to be a vote, says A K Bhattacharya.
Designer Namrata Lodha has been winning hearts with her sustainable hats.
'In India foreign policy is generally handled by the prime minister.' 'One can clearly see the Vajpayee stamp on all this.' 'Only a person with poetic imagination can weave such a complex web,' says Colonel Anil A Athale (retd).
"If we are not getting anything then I think it is end of story for Vodafone Idea," Kumar Mangalam Birla said at the HT Leadership Summit when asked about the future of Vodafone Idea in absence of a government relief on payment of Rs 53,038 crore dues.
One India is doing great against the coronavirus, lauding the gains of the lockdown and thanking the government, and the other lacks commitment, says Sumit Bhattacharya.
Mentalhood is far from an ideal comeback but it's nice to be reminded of Karisma Kapoor's radiant and lively screen presence again, says Sukanya Verma.
The spending on a typical RT-PCR test would take up 23 per cent of the monthly income of an average Indian, compared to 2 per cent in China. This is one of the deepest cuts in the pocket of an individual, in comparison to 14 other countries, reports Abhishek Waghmare.
'Painting opponents as the enemy of the State, using fake news, making wild allegations about rival parties, curtailing civil liberties and challenging the Constitution itself are worrying developments.'
Jaishankar criticised the UNHRC for its criticism on the situation in Jammu and Kashmir,
What are FMPs and should you invest in them?
The State Bank of India (SBI), in association with Air-India and Singapore Tourism Board, has launched a personal loan scheme for travel to Singapore, valid for residents of Andhra Pradesh.
'The SJM has requested the government to bring a change in the law which will ensure MSP as the floor price for all farmers below which nobody should buy anything from them.'
Fintechs need to behave with responsibility and transparency. A lot of mis-selling has been happening. Other issues have been plaguing the fledgling industry -- high interest rates, even higher processing fees, harsh collection process and, most critically, data leakage leading to rampant frauds, points out Tamal Bandyopadhyay.
Vodafone Idea and Airtel have made provisions for their liabilities arising from the Supreme Court order in their latest September quarter results.
Work is underway in identifying global companies in sectors ranging from electronics, auto components and medical equipment to shift part of their existing or incremental manufacturing to India.
Attempts are being made to balance the need for health of the sector, consumer interest while complying with the Supreme Court order on statutory dues.
If the finance minister's tax proposals have stimulated demand at all, it's for CAs, notes Kanika Datta.
The Economic Survey seems convinced that 2019-2020 saw the bottom of the economic cycle, points out Abheek Barua, chief economist, HDFC Bank.
'Much needs to be done to simplify tax administration.'
'The prospect is of a self-confident and self-sustaining India will make it a more effective player in the global arena,' External Affairs Minister Dr Subrahmanyam Jaishankar points out delivering the Sardar Patel Lecture-2020: India and the Post-Covid World.
Affordable housing has become the new mantra in Indian real estate where builders are luring investors to buy houses which not only come under their budget but also fetch good returns.
'Nowhere amidst the efflorescence of 13 military bands, 16 marching contingents and 22 tableaux was there any hint that far from being a rich country of poor people, the closely guarded secret is that India is a poor country of extremely rich people,' notes Sunanda K Datta-Ray.
Airtel, Vodafone-Idea and other telecom operators may have to pay the government a whopping Rs 1.42 lakh crore following the Supreme Court order last week that sent shock waves through an industry already grappling with billions of dollars in debt and an intense tariff war to retain customers.
On higher amounts, banks are allowed to offer differential rates to depositors.
20 years ago this week, India and Australia played one of the greatest Test matches in cricket history. Sreehari Nair relives the sound and the fury of that unforgettable game at the Eden Gardens.
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