Companies might need bank nod for executives' pay
In a move that might worry loan defaulters, the amended Companies Act has made it mandatory for companies that have not cleared their dues to banks to seek approval from lenders in case managerial remuneration exceeds 11% of its net profit. The amendments to the Companies Act were notified last week. According to the amendments there is now no need for companies to seek government approval.
Short-term capital gains tax on stock may be extended to 3 yrs
The finance ministry is considering extending the holding period for short-term capital gains (STCG) tax on listed securities from one year to three years. This would bring equities on a par with some other asset classes in tax treatment. This is among the measures for the capital markets that may be announced in the upcoming budget
Centre might go ahead with privatisation of Air India after budget
The government will invite expressions of interest from those interested in buying state-owned Air India Ltd, after the budget presentation on February 1, a top government official has stated. This step is intended to show that the NDA is going ahead with the privatization of Air India despite a parliamentary panel suggesting a five-year pause.
Govt waiting for appropriate Apple proposal
Will it, won't it? After months of speculation if Apple will set up a manufacturing unit in India, Union Commerce minister Suresh Prabhu has said that India was waiting for an appropriate proposal from the US tech giant. The minister has said that India wanted to partner with Apple and manufacture in India. In March last year, then Commerce Minister Nirmala Sitharaman had informed Rajya Sabha that the government had not accepted many of the demands of the company for setting up a local unit.
Railways targets 100% Wi-Fi enabled stations across India by 2019
The Indian Railways is promising free Wi-Fi at speeds of 20-40 MBPS in 257 railway stations in the country, which is better than what we get at most homes. Not only that, the railway ministry is now ambitiously looking at equipping each and every railway station across the country, numbering nearly 8,500, with Wi-Fi facilities at the cost of Rs 700 crore. The ministry timeline targets 600 Wi-Fi enabled railway stations by March 2018 and 100 per cent station Wi-Fi coverage by March 2019.
Apple investors urge action to control gadget addiction in children
Two major shareholders of Apple Inc. are concerned that the iPhone may have fostered a public health crisis that could hurt children and the company itself. In a letter to the smartphone maker dated January 6, the shareholders have urged Apple to create ways for parents to restrict children's access to their mobile phones. They also want the firm to study the effects of heavy usage on mental health. Apple already offers some parental controls, such as the 'Ask to Buy' feature which requires parental approval to buy goods and services