 "News digest: IBC auctions, Bitcoin tax, coal blocks, Oberoi Delhi, and more")
IBC auctions: Stressed unlisted firms may get tax incentives
Transfer of shares of unlisted stressed companies at a price below its fair market value might soon be exempt from the tax net, according to the government’s plans. The move, if implemented, would bring down the cost of investment and benefit buyers. Fair market value is the company’s adjusted book value. Read more
Output woes continue at auctioned coal blocks
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The production from coal blocks, awarded through the first auction in the country three years ago, continues to be very low. In the case of blocks awarded to the power sector, the production is nil. Read more
Non-declaration of Bitcoin gains could lead to a minimum of 20% tax
The bitcoin surge in the current fiscal year (FY18) in the absence of regulation has rattled the government, prompting it to take a look at the policy and taxability of earnings from cryptocurrency trading. Read more
Oberoi Delhi to reopen with ‘cleanest air’
Lutyens’ Delhi’s 52-year-old luxury hotel, The Oberoi, is ready to welcome guests with a promise of ‘the cleanest air in the city’ after a full renovation lasted seven quarters. Read more
Congress readies for Rahul Gandhi era
Rahul Gandhi was declared president-elect of the Congress party on Monday. He will officially take over the reins on Saturday, two days before counting of votes for the Gujarat and Himachal Pradesh assembly polls and amid anticipation that he would not only ring changes in the hierarchy but also reshape its ideological moorings. Read more
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