Top headlines: Tax notices flummox FPIs; Kabul airport attack kills dozens

Business Standard brings the top headlines of the day

The income-tax department slaps hundreds of notices on foreign portfolio investors for allegedly filing defective returns. India lifts a ban on Boeing 737 MAX, two and a half years after the aircraft was grounded globally.

Here are the top headlines of the day:

Income-Tax notices give FPIs the jitters

The income-tax (I-T) department has slapped hundreds of notices on foreign portfolio investors (FPIs) in the past few days for allegedly filing defective returns, according to the country's top tax consultants. Read more...

India allows Boeing 737 MAX aircraft to fly
 

Aviation regulator Directorate General of Civil Aviation (DGCA) on Thursday lifted a ban on Boeing 737 MAX aircraft, two and a half years after it was grounded globally. The ban had followed two crashes killing 346 on-board. Read more...

Capacity utilisation of India Inc hits new low

India Inc’s asset-turnover ratio declined to a new low of around 70 per cent in FY21, indicating a further decline in capacity utilisation across sectors last financial year owing to the pandemic. This raises a question on the companies’ ability to kick-start a fresh round of capacity expansion. Read more...

Expense on R&D for Covid-19 drugs, vax, devices will count as CSR

Research and development of new vaccines, drugs and medical devices related to Covid-19 by companies in the normal course of business will be regarded as corporate social responsibility (CSR) for three financial years, till FY22-23, the ministry of corporate affairs (MCA) said through a document. Read more...

Kabul airport attack kills 60 Afghans and 13 US troops; Biden vows revenge

Two suicide bombers and gunmen attacked crowds of Afghans flocking to Kabul's airport Thursday, transforming a scene of desperation into one of horror in the waning days of an airlift for those fleeing the Taliban takeover. The attacks killed at least 60 Afghans and 13 U.S. troops, Afghan and U.S. officials said. Read more...