Top headlines: Rich PF investors may opt for debt funds, GST slab merger

The Budget proposes that interest on the PF contributions (employee contribution) above Rs 2.5 lakh per annum be taxable with from April 1, 2021
Wealthy PF investors may opt for debt funds as Budget changes tax rule

Wealthy investors who park their spare money in voluntary provident fund (VPF) accounts may consider moving to debt mutual funds after the Union Budget’s new proposals. Interest on provident fund (PF) was exempt from tax. The Budget proposes that interest on the PF contributions (employee contribution) above Rs 2.5 lakh per annum be taxable with from April 1, 2021. Read more

GST Council may take up rationalising tax rates, slab merger in next meet

The next Goods and Services Tax (GST) Council meeting in March will likely take up rationalising tax rates and mergers of multiple slabs to bring them close to being revenue-neutral and make the indirect tax regime simpler. The meeting, whose date is yet to be set, will come at a time when the 15th Finance Commission has recommended merging the 12 and 18 per cent tax rates. Read more

Allegations of dodging laws have malicious intent: Amazon India chief

Amazon India chief Amit Agarwal has responded to the ongoing controversy over the news organisation Reuters’ story that alleged that the e-commerce giant dodged Indian regulators in circumventing local laws on foreign direct investment (FDI) in e-commerce. Read more

Top gear makers may warm up to Centre's PLI scheme for telecom sector

Under the Production Linked Incentive (PLI) scheme, companies will enjoy a 4-6 per cent incentive annually across five years on their production value in India, provided they make incremental investments. Some leading telecom equipment manufacturers might be interested in the scheme announced on Wednesday, including Nokia and Ericsson, Taiwanese electronics manufacturing service companies Flex (earlier named Flextronics) and Foxconn, Jabil Inc, Cisco, Ciena, and Samsung which is a telecom vendor to Reliance Jio. Read more

Piramal group gets RBI approval for debt-ridden DHFL's acquisition

The Reserve Bank of India (RBI) on Thursday cleared the Rs 34,250-crore acquisition of Dewan Housing Finance Corporation (DHFL) by the Piramal group. The Ajay Piramal-led group had outbid US-based asset management firm Oaktree last month. Read more

WhatsApp to give option to review policy updates amid controversy

Following the backlash it received for the update to its privacy policy in early January, WhatsApp will now let users take a better look at the changes that have been proposed, and reinforce that it does not change personal communication between people. "In the coming weeks, we’ll display a banner in WhatsApp providing more information that people can read at their own pace," it said. Read more

NASA's Perseverance rover lands on Mars to look for signs of ancient life

A NASA rover streaked through the orange Martian sky and landed on the planet Friday, accomplishing the riskiest step yet in an epic quest to bring back rocks that could answer whether life ever existed on Mars. It took a tension-filled 11 1/2 minutes for the signal to reach Earth. Read more

From Cognizant to HCL, India Inc opens up purse for employee retention

HCL had announced a one-time special bonus of $90 million earlier this month to employees around the world as it crossed the $10-billion revenue mark. Other IT majors like TCS, Infosys, and Wipro have also rolled out salary hikes across levels. Read more

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