In a major change of rule, the government has allowed superior voting shares to list on exchanges in the same way as other shares, helping promoters and early-stage investors and private equity (PE) and venture capital (VC) funds retain some advantages. The new norms were put in place on Thursday, through an amendment to the […]
Archives for March 2020
Bulk packs in demand as buyers stock up like crazy
Illustration: Rahul Awasthi Companies and retailers are reporting higher sales of large packs of biscuits, noodles, rice, edible oils and hygiene products such as handwash and floor cleaners compared to individual or smaller packs, as consumers stock up grocery amidst apprehensions of a lockdown following the Covid-19 outbreak. This bucks the trend of the past […]
Covid-Asana: Indians go big on yoga from home
Illustration: Rahul Awasthi After the namaste, another traditional practice gaining ground on account of Covid-19 is yoga, according to fitness startups such as FITTR, Cult.Fit, Sarva and Get A Life Fitness (GALF). The need to maintain social distance is pushing people to log on to online workouts where yoga tops the list in terms of […]
Final touches to draft E-commerce policy
India could make public next week the draft e-commerce policy proposing a dedicated regulator for the sector. The draft, focussing on special measures for rural e-commerce, job creation and infrastructure, could be made public next week after a group of secretaries reviews it on Monday. The Department for Promotion of Industry and Internal Trade (DPIIT) […]
Amid high demand, e-grocers delay and cancel orders as more consumers shop online
Illustration: Rahul Awasthi Unable to handle the sudden surge in demand, India’s two largest grocery players, BigBasket and Grofers, have started delaying orders by days and in some cases cancelling those, while also selectively shutting down certain delivery pin codes. On Friday, raging consumers took to microblogging site Twitter to complain as more people opted […]
Coronavirus and financial reporting: Report addresses key issues
As the coronavirus outbreak puts pressure on health care systems and wreaks havoc on businesses throughout the world, the duty of financial statement preparers and CPA practitioners remains the same. Regardless of the changing environment, preparers need to make sure the information their organizations present on financial statements is reported in accordance with GAAP. Auditors […]
Final regulations address covered assets acquisition rules
The IRS finalized temporary and proposed regulations that are designed to prevent taxpayers from misapplying the Sec. 901(m) statutory disposition rule in certain dispositions of relevant foreign assets (RFAs), including where the gain or loss from the disposition of an RFA is recognized for U.S. income tax purposes but not for foreign income tax purposes, […]
Tax filing deadline moving to July 15, Treasury secretary announces
News Procedure & Administration By Alistair M. Nevius, J.D. {:else} {timeSince} {/if} {@if cond=”{isCGMA}”} {:else} {/if} {/.} Treasury Secretary Steven Mnuchin announced on Friday that tax returns normally due on April 15 will not be due until July 15 this year. The news came in a tweet, and the IRS has not yet issued official […]
Indian government asks social media firms to curb Covid-19 fake news
The Indian government has written to top social media companies including Facebook, YouTube, TikTok, ShareChat and Twitter, to control the spread of misinformation on Covid-19. In an advisory sent on Friday, the government asked social media platforms to start awareness campaigns, remove misinformation from the platform and promote authentic information on the virus. ET has […]
Amazon AWS launches $20 million initiative to help fight the coronavirus
Andy Jassy, CEO of Amazon Web Services. CNBC Amazon AWS announced Friday it’s setting aside an initial $20 million to help accelerate research and development of diagnostic solutions. That includes, but won’t be limited to, helping push forward a more accurate, faster coronavirus COVID-19 test. “One area where we have heard an urgent need is in the […]