A retired Public Works Department (PWD) official and owners of two private firms were arrested by the Anti-Corruption Branch (ACB) of the Delhi government in connection with a ‘scam’ uncovered during the Covid-19 pandemic. The Rs-200 crore ‘scam’ pertains to the approval and execution of work orders for eight Delhi government hospitals, said officials. PWD officials were found to have paid private firms and contractors for either no work or incomplete work using fake or forged bills, they said. Anil Kumar Ahuja, a former Assistant Director General of the PWD…
Tag: firms
Top 500 firms likely to get ‘quota’ for interns based on CSR spend | Business News
THE GOVERNMENT plans to talk to the top 500 companies and mutually agree on a “voluntary quota system” for taking on board interns under the employment package announced in the Budget 2024-25. The “quota system” would be based on the Corporate Social Responsibility (CSR) expenditure of these companies, Finance Secretary TV Somanathan told The Indian Express. “Details are yet to be worked out, and will be done in consultation with the industry. We might perhaps have some kind of voluntary quota system, mutually agreed upon, saying that you will take…
TDS U/S 195 Can’t be Deducted on Payments Made to Overseas Firms for Services Rendered Abroad
When the taxpayer’s company has used the company’s services outside India and payment has been made outside India, the taxpayer company shall not be obligated to deduct tax at source u/s 195, New Delhi ITAT ruled. Under Section 195 of the Income Tax Act, TDS should be deducted at the time of credit or payment on specific payments made to non-residents, and it applies to interest, royalty, fees for technical services, and other sums levied to tax in India. The Bench of B.R.R. Kumar (Accountant Member) and Sudhir Kumar (Judicial…
Piyush Goyal: Decision to allow firms below GST limit to indulge in e-commerce to help small businesses: Piyush Goyal
[ad_1] New Delhi: The decision to allow the below firms GST threshold to join e-commerce A big decision that will help small businesses benefit from rapid growth online areaMinister of Commerce and Industry Piyush Goyal said on Thursday. The minister said that this decision will be a game-changer for the success of the government’s Open Network for Digital Commerce (ONDC) platform. “It will bring small retailers into the e-commerce ecosystem,” he said, adding that handicrafts, handlooms, textiles and small retailers would be the major beneficiaries. The GST Council has decided…
Six Indian companies in Business Week’s top 100 infotech firms
[ad_1] NEW DELHI: Despite the turmoil in the global economic environment, six Indian firms including Reliance Com and Bharti Airtel have been named among the top 100 best performing infotech companies in the world by an American magazine Business Week. BusinessWeek’s latest annual list ‘The Infotech 100’, which ranks firms on the basis of shareholder return, return on equity, total revenue and revenue growth, has ranked telecom major Bharti Airtel at 21st position, followed by Reddington. India (55th) and RCom (66th). The list has been topped by US firms —…
lack of infrastructure to substitute; Plastic ban delayed by six months, say firms
[ad_1] The recent ban on single-use plastics, effective July 1, is likely to challenge food and beverage companies. An alternative like paper straws will cost more than the affordable ones now offered by various brands. Brands feel that integrated plastic straws come as part of juice and milk based beverage packs and do not contribute much to plastic pollution as they are part of the recycling and processing chain that has already been established by the companies Which are part of their EPR mandate. With no sustainable alternative to the…