Companies

The TOT model is part of the Centre’s efforts to monetize public infrastructure and build new assets.
MAT is the minimum tax to be paid by companies that keep their taxable profit low by using tax breaks. (Bloomberg)
MAT is the minimum tax to be paid by companies that keep their taxable profit low by using tax breaks. (Bloomberg)

MAT breather to give a leg-up to bankruptcy resolution and M&As

  • Analysts say the MAT exemption will lead to better realization of the asset sale
  • The Taxation Laws (Amendment) Ordinance exempts companies opting for the lower corporate tax rate of 22% and new manufacturing firms eligible for 15% tax rate from payment of MAT

The fiscal deficit can be even higher than 4% if GDP in nominal terms does not grow by 12% as the budget expects it to.  (Photo: Aniruddha Chowdhury/Mint)
The fiscal deficit can be even higher than 4% if GDP in nominal terms does not grow by 12% as the budget expects it to. (Photo: Aniruddha Chowdhury/Mint)

After Sitharaman’s tax bonanza come the big challenges

  • The fiscal deficit can be even higher than 4% if GDP does not grow by 12% as the budget expects it to
  • One option for the government is to push through genuine disinvestment by selling PSEs to private firms

Sahil Kini (left) co-founder and CEO of Setu with co founder and chief evangelist Nikhil Kumar. (Gopal Krishan/Mint)
Sahil Kini (left) co-founder and CEO of Setu with co founder and chief evangelist Nikhil Kumar. (Gopal Krishan/Mint)

Connecting dots to automate digital payments

  • Sahil Kini and Nikhil Kumar, who earlier worked on Aadhaar and UPI, are rolling out the first of their financial products
  • Setu’s Collect serves as the link between payment apps and the service a customer is paying for

India has set its own trajectory towards open banking, first with Aadhaar enabling eKYC, and then the launch of unified payments interface (UPI). (Priyanka Parashar/Mint)
India has set its own trajectory towards open banking, first with Aadhaar enabling eKYC, and then the launch of unified payments interface (UPI). (Priyanka Parashar/Mint)

The bits of code pushing the next leap in online transactions

  • Payments serve as a good entry point for digital transactions, but the real game-changer for financial inclusion is mobile access to banks, loans and deposits
  • The main challenge is in reaching rural areas where merchants prefer cash, and digital access is poor

Patients taking the prescription of Ranitidine and wishing to discontinue its use should talk to their health care professionals about other treatment options, the US drug regulator said.
Patients taking the prescription of Ranitidine and wishing to discontinue its use should talk to their health care professionals about other treatment options, the US drug regulator said.

Dr.Reddys halts worldwide supply of Ranitidine until FDA probe over

  • Ranitidine is an over-the-counter and prescription drug which decreases the amount of acid created by the stomach
  • The FDA in a statement on 13 September had said it is working with international regulators and industry partners to determine the source of N-nitrosodimethylamine impurity in Ranitidine

IndiGo chief commercial officer William Boulter.
The Nifty index is expected to gain 9-10% from its low of 10,700 points as inflows from foreign institutional investors will drive the market from hereon. Aniruddha Chowdhury/Mint
The Nifty index is expected to gain 9-10% from its low of 10,700 points as inflows from foreign institutional investors will drive the market from hereon. Aniruddha Chowdhury/Mint

Tax cut may help firms improve profitability

  • Analysts upgrade earnings growth estimates, see more FII inflows
  • Tax cut may lead to earnings benefit of 11-12% for capital goods, metals, banks, automobiles

Premanshu Singh, CEO Coverfox Insurance Broking
Photo: AP
Altico is backed by Clearwater Capital Partners and Abu Dhabi Investment Council
Altico is backed by Clearwater Capital Partners and Abu Dhabi Investment Council

Altico says evaluating options after default

  • NBFCs and HFCs have been stung by liquidity crisis after the collapse of behemoth IL& FS late last year
  • Altico said it needed time from stakeholders to craft a plan that might 'maximize asset value' and called on all stakeholders to 'refrain from actions that exacerbate the liquidity problem'

The total sales value of this 8 lakh sq ft office building has touched  ₹1,350 crore (Photo: Ramesh Pathania/Mint)
The total sales value of this 8 lakh sq ft office building has touched 1,350 crore (Photo: Ramesh Pathania/Mint)

Lodha group to sell 7 lakh sq ft office space in Mumbai to Singapore firm

  • The deal is likely to be concluded by the end of the next month, sources said
  • The company had earlier sold four floors in this building in Wadala, Mumbai, to Tata group firm Trent Tesco for around 250 crore

The number of employees in BSNL stands at 1,65,179 (Mint )
The number of employees in BSNL stands at 1,65,179 (Mint )

BSNL pays August salaries to staff: CMD

  • BSNL's loss is estimated to be around 14,000 crore with a decline in revenue to 19,308 crore during 2018-19
  • The number of employees in BSNL stands at 1,65,179

Altico Capital India chief operating officer Sanjeev Agrawal.
Persuading shoppers to buy fresh food online isn’t Amazon’s sole challenge. Photo: Reuters  (REUTERS)
Persuading shoppers to buy fresh food online isn’t Amazon’s sole challenge. Photo: Reuters (REUTERS)

Amazon expands two-hour Whole Foods delivery to catch Walmart

  • Prime subscribers looking for speedy grocery delivery needed to download a separate Prime Now app
  • Amazon is betting that offering the service on the main site will pull in more shoppers

An IndiGo Airlines Airbus A320 aircraft. (REUTERS)
Jet Airways founder Naresh Goyal (Reuters )
Photo: Hemant Mishra/Mint
Zomato Gold for dining-out and delivery is operational in 16 cities. (MINT_PRINT)
Zomato Gold for dining-out and delivery is operational in 16 cities. (MINT_PRINT)

Zomato rolls out 'Gold' program on delivery

  • Zomato Gold users will be able to use their membership while ordering food delivery
  • Zomato Gold was launched in 2017 as a membership program that would give diners orders on eating out

Photo: iStock (iStock)