NEW DELHI: Non-compete fees received by a taxpayer will be a non-taxable capital receipts up to the financial year 2002-03. The amendment to treat non-compete fees as taxable revenue receipts came into effect only from April 1, 2003 – this was upheld by the Income-tax Appellate Tribunal (ITAT), Mumbai bench in its recent order.The amendment…
NEW DELHI: The seven Adani Group airports have seen cargo movement grow by 7% in FY 24 when it handled 10 lakh metric tonnes of goods. At 6.7 lakh metric tonnes, international cargo grew at 9% with the top commodities being automobiles, pharmaceuticals, perishables, electricals, electronics and engineering goods. While Delhi, Bengaluru and Kolkata were…
The incident occurred at Mumbai airport on Saturday morning when an Air India aircraft was speeding for take off when an IndiGo aircraft came in and landed behind it on the same runway. MUMBAI: The Aviation regulatory body, DGCA, has taken action by de-rostering an Air Traffic Control officer (ATCO) from Mumbai following a potentially…
HYDERABAD: Fast moving consumer goods giant Coca- Cola has uncorked plans for a third greenfield facility in Telangana at an investment of Rs 700 crore.The facility, to be set up by the US major’s wholly-owned subsidiary Hindustan Coca-Cola Beverages Pvt Ltd (HCCB), is slated to come up in Peddapalli district.The announcement was made by Telangana…
MUMBAI: Reserve Bank of India governor Shaktikanta Das said the decision to bring in 100 tonnes of gold was made because the quantum of gold outside the country had gone up due to RBI’s purchase. Part of the gold was decided to be held within the country as there was storage capacity available.“The quantum of…
HYDERABAD: Fast moving consumer goods giant Coca Cola has uncorked plans for its third greenfield facility in Telangana at an investment of Rs 700 crore.The proposed facility, to be set up by the American giant’s wholly-owned subsidiary Hindustan Coca Cola Beverages Pvt Ltd (HCCB), is slated to come up in Peddapalli district.The announcement was made…
NEW DELHI: Passengers on a SpiceJet flight from Delhi to Goa faced trouble at the Indira Gandhi International (IGI) airport in Delhi on Saturday after the flight was delayed for several hours.The airline said that the delay of flight SG-211 was caused by operational issues, as the originally scheduled aircraft had to be grounded due…
MUMBAI: From ACs to beauty products and even snacking items, consumers are increasingly going online to fill their shopping carts as heatwaves nudge them to stay indoors, at least during the peak afternoon hours.Online sales for Voltas through Amazon and Flipkart, for instance, have grown by 190% year-on-year between March-May 2024. The company’s sales through…
NEW DELHI: Adani Ports and Special Economic Zone Limited (APSEZ) has secured the letter of intent (LOI) for operating and maintaining the container facility at the Netaji Subhas Dock, located within the Syama Prasad Mookerjee Port in Kolkata.“The award of the O&M contract for container handling facilities at Netaji Subhas Dock to APSEZ underlines our…
UPI Lite was introduced in September 2022 to enable small value payments. Cheer for UPI Lite users! The Reserve Bank of India (RBI) governor Shaktikanta Das on Friday announced new measures for UPI Lite users. The announcement was made as a part of the RBI’s Monetary Policy Statement. According to the new measures, users of…
