Direct Tax Code : Replacement for Income Tax Act, 1961 possible recommendations

The Indian government is soon coming out with a new Direct Tax Code to replace the existing Income Tax Act, 1961. The direct tax committee entrusted with the preparation of the tax code is likely to submit its report to the finance ministry on Aug 15, 2019 and the government would immediately review its recommendations, announced Finance Minister Nirmala Sitharaman while speaking at a Confederation of Indian Industry (CII) interaction. The new direct tax code…

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Reliance Industries shares up 12% on net-debt-zero plan and Saudi Aramco investing news

Reliance Industries shares saw their biggest intraday rise for first time in last 10 years today on Tuesday Aug, 13,2019.All it happened as it set to reach zero net debt within 18 months and vowed to reward its shareholders with more dividends and periodic bonus issues. The group's billionaire chairman, Mukesh  Ambani, also unveiled plans to launch cut-price home internet services across India  in next month, which seems to threaten & disrupt the telecommunications market…

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SpiceJet Ltd reported its highest ever quarterly profit in the June quarter

The company’s stand-alone net profit rose to ₹261.7 crore in June quarter from a loss of ₹38.1 crore in the corresponding period of the previous fiscal year, the airline said. The result beat the estimates compiled by six brokers polled by Bloomberg who expected it to report ₹137.50 crore in profit.Stand-alone revenue rose 39.59% to ₹3,145.26 crore during the quarter, beating the estimates of ₹2,991.70 crore by seven brokers polled by Bloomberg.SpiceJet’s profit in Q1…

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