Top headlines: Sebi-CBDT pact facing roadblock; GST council meet today

The Income Tax department has to abide by the confidentiality clause which holds it back from sharing details obtained through tax treaties.
Sebi-CBDT info-sharing pact facing roadblock over confidentiality clause

The recent information-sharing agreement between the direct taxes board and market regulator Sebi is facing a roadblock. The reason, according to officials, is the confidentiality clause in the tax agreements with other nations. The Income Tax department has to abide by the confidentiality clause which holds it back from sharing details obtained through tax treaties, particularly about offshore entities. Read More

Don't hide behind RBI, clarify your stand on loan moratorium: SC to govt

Pulling up the Centre for “hiding behind the Reserve Bank of India” (RBI), the Supreme Court on Wednesday asked it to clarify its stand within a week on the waiver of interest on loan repayments during the moratorium period. A Bench headed by Justice Ashok Bhushan said the government had failed to clear its position on the issue despite the fact that ample powers were available with it under the Disaster Management Act. Read More

RBI's order could spell trouble for ARC-owning PE funds, say experts

Private equity (PE) funds owning asset reconstruction companies (ARCs), apart from pure-play ARCs, could land in serious trouble if the Reserve Bank of India (RBI) does not reverse its decision to disallow them from being resolution applicants of a stressed asset under the Insolvency and Bankruptcy Code (IBC). Read More

Coming next: Most-watched IPL in the time of Covid-19 pandemic

Will Chennai Super Kings captain Mahendra Singh Dhoni take charge behind the wicket first? Or will it be Aditya Tare of Mumbai Indians? The toss of a coin at the inaugural match of the Indian Premier League (IPL) in Dubai/Abu Dhabi/Sharjah on September 19 will settle that. Ever since it was announced that the delayed-due-to-the-pandemic IPL will be held sans spectators in the United Arab Emirates, fan sites have been rife with speculation. Read More

Counsellors, students grapple with uncertainty amid Covid-19 pandemic

From the simpler days of fielding queries about which course and college to opt for, and explaining changes in student visa rules, career counsellors are finding themselves in a tough spot today. With the higher education plans of their young clientele derailed due to the pandemic, they now have to deal with questions they have never faced before — and to which there are no easy answers. Read More

Trump or Biden? It won't matter a lot for Indian markets: Analysts

The outcome of the presidential election in the US, the world's largest economy, may only create a flutter in the global financial markets, including India, say analysts. Yet, a change of American president (in case Donald Trump loses) should be interesting from the point of view of globalisation, trade relations with China, and the US' role as a superpower; The India-US relations, most believe, are insulated because of their long-term partnership and their alliance, and the scope to increase trade and expand supply chains, given the strain with China. Read More

Tata Sons to outline group's digital strategy at AGM on Thursday

The shareholders of Tata Sons — the unlisted holding company of Tata Group — will get a glimpse of the group’s digital strategy on Thursday during the company’s annual general meeting (AGM). The e-AGM comes at a time when the group is facing significant challenges in each of its businesses, barring its software exporter firm, Tata Consultancy Services. Read More

Govt to sell 15% stake in Hindustan Aeronautics to raise Rs 5,020 cr

The government plans to sell as much as 15% stake in state-run defense contractor Hindustan Aeronautics. through a public offering of shares, as Prime Minister Narendra Modi seeks funds to shore up government coffers. The Indian government will sell a stake of about 10 per cent, with an option to sell a further 5 per cent in the company, according to a stock exchange filing on Wednesday. Read More

GST Council meet: States to push for borrowing by Centre on Thursday

Ahead of the crucial single-agenda GST Council meeting on Thursday, most states — including those governed by the BJP — reached a consensus that the Centre should borrow to compensate states for the revenue shortfall owing to inadequate cess collection. States have objected to borrowing from the market themselves, and will seek an extension to the compensation period beyond the promised FY22. Read More

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