Super-rich tax: FM Sitharaman shrugs off pleas by FPIs, suggests a way out

Finance Minister Nirmala Sitharaman's decision, in Budget 2019, to impose higher surcharge on income tax of high net worth individuals, has spooked Foreign Portfolio Investors. Despite appeals, she clarified in the Parliament that the government will not go back on its decision, and FPIs registered as trusts will have to pay the same tax as individuals. However, she did suggest a way out, stating that FPIs can structure their undertakings as companies instead of trusts to avoid the higher tax. She also spelled out other moves to benefit startups and non-banking finance companies. Watch the full video to find out.

Mint Headlines: IndiGo board meet, Karnataka trust vote & more

Headlines @ Mint gives you a quick brief on the biggest events and developments expected to make news this Friday, including the board meeting at IndiGo airlines, the floor test in the Karnataka Assembly, and Reliance Industries' expected earnings in the first quarter of FY20. Also on the menu are issues and events likely to impact markets including Finance Minister Nirmala Sitharaman's advice to foreign portfolio investors and SEBI's move to tweak disclosure norms for listed banks. Watch the full video to tune into your daily dose of news shorts and more.

Mint Headlines: Karnataka trust vote, India’s ICJ win, stocks to watch & more

Headlines @ Mint gives you a quick brief on the biggest events and developments expected to make news this Thursday, including the Karnataka floor test, Kulbhushan Jadhav verdict fallout, the Ayodhya mediation panel’s expected submission of its report to SC and the impending launch of the sixth tranche of Exchange Traded Fund of Central Public Sector Enterprises. Also, on the menu are the issues and events likely to influence the markets on Thursday and of course, the key stocks to watch out for. Watch the full video to tune into your daily dose of news shorts and more.

Amid SEBI probe, MCA seeks response from IndiGo on co-founder's complaint

Even as the Securities and Exchange Board of India probes the actions of the management of IndiGo airlines post the complaint filed by co-founder Rakesh Gangwal, the Ministry of Corporate Affairs has also sought the response of the airline's parent company, Interglobe Aviation Ltd, on the allegations. The government is also looking at the contentious shareholder agreement which has been a cause of much grief between Gangwal and IndiGo co-founder Rahul Bhatia. Watch the full video to know the effect that the continuing controversy may have on India's largest airline, by market share.

IndiGo Blues : When partners clash

The dispute over corporate governance between Rakesh Gangwal and Rahul Bhatia, the two co-founders of IndiGo Airlines, only gets more bitter by the day with letter-bombs being dropped by the warring promoters. There are questions now raised on what is the way forward at the airline, what messaging does it send out to institutional investors and also what remains the role of regulator in an imbroglio like this. In a video discussion with Shrija Agrawal, Associate Editor, Mint; Tarun Bhatia, MD & Head of South Asia, Kroll and Amit Tandon, MD and head of proxy advisory firm, Institutional Investor Advisory Services India Limited (IiAS) discuss such questions and more.

ITR deadline 2 weeks away | Quick guide to file income tax online

July 31, 2019 is the last date for filing income tax return for the year 2018-19. From the forms needed, to the information they require - here's a quick guide for first-timers to file income tax online. Watch the full video to also know the changes in the process introduced by the Income Tax Department. Stay tuned to this space for more information like checking tax refund status to why it's advisable to file ITR even by those whose income isn't taxable.

Are tax proposals in Budget 2019 confusing? Here's help

Budget 2019-20 proposed a slew of measures to attract investments and bolster growth. The key proposals in the budget which are relevant to FPIs include increase in surcharge for taxpayers other than corporates and partnership firms, increase in the default limit for FPI investment in Indian equities from 24% to the sectoral limit, merging the NRI-PIS route with the FPI route, rationalization of KYC norms and rationalization of STT rates on option contracts. Rajesh Gandhi, Partner, Deloitte Haskins & Sells LLP speaks to Nasrin Sultana, Mint on how to interpret the tax proposals.

After IndiGo co-founder's complaint, SEBI probes if investors were misled

Days after co-founder of IndiGo airlines filed a complaint with Securities and Exchange Board of India, the market regulator has begun probing if investors were misled by the firm's management. Rakesh Gangwal, in his letter to SEBI, had alleged violation of corporate governance norms at the airline, also questioning related-party transactions between IndiGo and promoter Rahul Bhatia's IGE Group. According to sources, SEBI has also asked IndiGo to clarify whether all related-party transactions carried out by the company were in compliance with SEBI Act. Watch the full video for more.

Promoter vs Promoter: Why IndiGo feud is worrying analysts

The tiff between IndiGo's co-founders has spilled over into the public domain after Rakesh Gangwal complained to the Securities and Exchange Board of India (SEBI) against co-promoter Rahul Bhatia. As the dispute intensified, InterGlobe Aviation Ltd shares tumbled nearly 20% on Wednesday morning. Although they recovered slightly, but analysts feel the worst is yet to come. Analysts aren’t particularly worried about any immediate impact on the company’s financials but concerns about governance lapses can affect valuation multiples.

Rift between IndiGo co-founders widens as tussle reaches Sebi doorstep

The differences between the co-founders of India's largest airline, by market share, have worsened. In a fresh flash-point between IndiGo's Rakesh Gangwal and Rahul Bhatia, the former filed a complaint with the Securities and Exchange Board of India (SEBI), alleging violation of corporate governance norms by the latter. Bhatia has responded to the allegations, calling them an attempt to dilute the controlling rights of his enterprise, IGE Group. SEBI has asked the airline to respond by July 19, 2019.

 (Photo: Abhijit Bhatlekar/Mint)
(Photo: Abhijit Bhatlekar/Mint)

Budget 2019 Analysis | Did Modi govt do enough to boost start-ups?

Rahul Bhasin, Managing Partner at Baring Private Equity Partners India Pvt Ltd and Shrija Agrawal, Associate Editor, Mint, help decode what Budget 2019 contains for start-ups. From relief from angel tax to an exclusive television channel, the government announced various measures to boost entrepreneurship. Finance Minister Nirmala Sitharaman also unveiled plans to ease Foreign Direct Investment norms in sectors like grocery, e-commerce, and food delivery, and incentivise production and sale of electric vehicles. These moves too are expected to help start-ups.

Congress MP Shashi Tharoor (Bloomberg file)

Budget 2019: More tax for those earning over 2 crore yearly

Finance Minister Nirmala Sitharaman presented the Union Budget for the second term of Narendra Modi government. During the budget, she spoke about the income tax and surcharges on the tax. Surcharge on those with income between 2-5 crore and 5 crore-above are to be increased. "Enhance the surcharge on individuals having taxable income from 2 crore to 5 crore and 5 crore and above so that effective tax rates for these two categories will increase by around 3% and 7% respectively, the finance minister said.

Woman's expectation from the Union Budget. (Photo: Pradeep Gaur/Mint)