 "News digest: Tax collection, 10 yrs after Satyam, handset market, and more")
CBDT chief cautions I-T officials about direct tax collection growth rate
Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra has cautioned income-tax (I-T) officials about the direct tax collection growth rate, and said it can adversely affect the Budget estimate of Rs 11.5 trillion for the current financial year. Read more here
10 years after Satyam, Raju remains patriarch of family-run business empire
Ten years after the Rs 14,000-crore fraud at Satyam Computer Services came to light on January 7, 2009, its founder B Ramalinga Raju, who is out on bail, continues to preside over his family’s thriving business empire. People in the know say that Raju guides his sons and other family members in their business pursuits. He may have lost his public halo, but in private, he continues to indulge his formidable entrepreneurial instincts. Click here to know more
No liability if PPI customers report fraud in three days, says RBI
The Reserve Bank of India (RBI) has absolved customers using prepaid instruments of liabilities arising out of a fraud if the incident is reported within three days. This is same as the rules for bank frauds.
Prepaid payment instruments (PPI) comprise mobile wallets, prepaid payments cards, and paper vouchers such as Sodexo. Read more here
India's handset industry may go past the 300-mn unit mark in 2019
Living up to its reputation of making records, the Indian handset industry may add another feature to its cap in 2019.
The local market, bustling with new entrants and frequent launches, is expected to go past the 300-million-unit mark this year. Click here to know more
With rents pushing up, that apartment you had your eye on just got pricier
Rising rents are pushing up the cost of living in major cities. People living in Mumbai paid an average of 18 per cent more for renting their homes last year. Rents rose on average by 15 per cent in Chennai and 14 per cent in Bengaluru last year.
These findings have come out in a report by proptech start-up NoBroker.com based on a survey of tenants, property owners and other users in five major cities: Delhi-NCR, Mumbai, Bengaluru, Chennai, and Pune. Read more here
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