Sun.Sep 29, 2024

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GSTN restores July, August 2017 returns data; experts suggest ERP upgrade for better data management

CFO News

GSTN has restored July and August 2017 GST returns data on the Common Portal, addressing taxpayer concerns. Experts advocate for collaboration among GSTN, the GST Council, and CBIC to ensure that advisories align with evolving GST regulations.

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1,038: Driving Financial Agility in a Global Tech Landscape | Joey Wong, CFO, Asia Pacific (PCSD), Lenovo

CFO Thought Leader

In the mid-2000s, the world’s attention increasingly began to focus on Asia, attracted not just by the region’s rapid economic growth but also by the 2008 Beijing Olympics. It was within this atmosphere of excitement and potential that Joey Wong made a very pivotal career decision. Having grown up in Los Angeles after her family had emigrated from Hong Kong, Wong had always been drawn to math and science, a passion that eventually led her to MIT, where she studied economics and business.

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Trending Sources

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Bharat Road Network CFO Arindam Bhowmick resigns

CFO News

Bhowmick, who joined the company in 2018, steps down after more than six years of service. He resigned to pursue career opportunities that better align with his long-term professional goals.

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10 Vacation Sunday Reads

Barry Ritholtz

My Sunday morning look at incompetency, corruption and policy failures: • Messing Up the Closest Thing to a Sure Thing in the Stock Market : Index funds are a great way to match the performance of the market. So why do so many investors end up falling short? ( Wall Street Journal ) • Behind the Catholic Right’s Celebrity-Conversion Industrial Complex : From Russell Brand to JD Vance to Candace Owens, what happens when the Catholic Church chases influencers—and their legions of followers—down th

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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

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Unacademy appoints Abhishek Pipara as CFO for offline centres

CFO News

Pipara succeeds Prateek Dalal, who joined Unacademy as CFO in January 2024, after previously handling finance at CRED.

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More Trending

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Govt considering foreign investment regulatory mechanism for FDI supervision

CFO News

The Indian government is considering a foreign investment regulatory mechanism for post-investment review and monitoring. This oversight aims to ensure that FDI benefits the economy and comes from legitimate sources. India has attracted significant FDI due to its large market, stable policies, and skilled workforce.

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Accenture’s hiring drive may push other companies

CFO News

Industry analysts predict that this move by Accenture will encourage other companies to expand their offshore presence as well.

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Amid turmoil, all eyes on today's Sebi board meet

CFO News

The Securities and Exchange Board of India (Sebi) is set to hold a crucial board meeting on Monday, following allegations of conflict of interest against chairperson Madhabi Puri Buch. The board may discuss these accusations and issues related to a withdrawn press release on employee matters, although they are not on the official agenda.

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Burmans demand Rashmi Saluja's removal from Care Health Insurance ahead of AGM amid regulatory scrutiny

CFO News

The Burman family, major shareholders of Religare Enterprises, has requested the removal of Rashmi Saluja from Care Health Insurance's board. They cite actions by investigative and regulatory agencies against her. The reappointment decision will be discussed at Care Health’s upcoming AGM. Saluja faces allegations including criminal conspiracy and insider trading violations.

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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.

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Piyush Goyal urges industry to promote Brand India through focus on quality

CFO News

Marking a decade of Make in India initiative, Commerce Minister Piyush Goyal has urged the Indian industry to focus on prioritising the production of high-quality goods to promote Brand India through sustainable practices.

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Upper layer NBFC HDB Financial Services prepares for IPO

CFO News

HDB Financial Services is preparing to file for an IPO after receiving approval from parent HDFC Bank's board. The Rs 2,500 crore offering includes a fresh issue and an offer for sale. The RBI mandates NBFCs categorised as "upper layer" to list within three years to meet regulatory requirements and enhance transparency. The IPO follows the listing of Bajaj Housing Finance amid rising demand for high-quality businesses in the market.

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IXP companies hiking investments amid data centre boom

CFO News

As per the Internet Society, India ranks number 2 in Asia on the IXP count metric. But it lags in penetration terms compared to Finland, Singapore, Australia and the UK. For instance, Finland and Singapore have 12.5 and 22 IXPs per 10 million people, respectively, whereas India has only 0.23 IXPs per 10 million people, according to Extreme Infocom.

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Banks look for a way out of UBO tangle

CFO News

Banks in Mumbai are facing challenges with identifying ultimate beneficial owners (UBOs) of foreign investments due to varying disclosure rules across countries. This issue has been discussed among senior bankers, who believe India's anti-money laundering laws should adapt to different international standards to ensure compliance and transparency.

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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Security hurdle: Global gear companies' clash with DoT may hit broadband expansion

CFO News

Officials and industry executives told ET that so far, none of the products have got the security certification. Therefore, unless the issue is resolved, new units of Wi-Fi CPEs and routers needed for broadband expansion won't be available in the Indian market from next month.

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Last date for income tax audit report: Deadline for tax audit report extended

CFO News

Income tax audit last date: The tax audit deadline has been extended by CBDT. "Decided to extend the specified date for filing of various reports of audit for the Previous Year 2023-24, which was 30th September, 2024 in the case of assessees referred in clause (a) of Explanation 2 to sub-section (1) of section 139 of the Act, to 07th October 2024," said CBDT.

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Lavasa creditors set eligibility floor to begin resolution 2.0

CFO News

Creditors of Lavasa Corp, India's first private hill town project, have set new eligibility criteria for prospective bidders after a failed attempt earlier this year. They require a ₹100 crore net worth and a ₹25 lakh refundable deposit. Lenders are also considering appointing a new resolution professional and process advisor.

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Income tax simplification hopes rise as feedback process nears rollout; Budget 2025 may bring big news on direct tax laws

CFO News

The govt will invite suggestions from the private sector and tax experts on the Income Tax Act, 1961, starting October. This initiative aims to simplify the direct tax law by reducing outdated clauses and mitigating litigation. The amended Act is expected to be presented in the Budget session of Parliament in early 2025.

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Bringing AI to Finance: How to Leverage Technology for Efficiency and Control

Finance teams are balancing more than ever, but manual processes shouldn’t slow you down. In this ebook from BILL, discover how AI is transforming finance—automating AP, expense tracking, and document management to reduce errors, increase efficiency, and improve financial control. Learn how real companies are using AI-powered automation to streamline workflows, detect anomalies, and gain deeper insights.

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Govt needs to promote labour-intensive industries to generate jobs: Raghuram Rajan

CFO News

According to him, the industries that are more capital-intensive are growing faster, but labour-intensive industries are not growing.

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D2C startup Wakefit records 24% jump in its FY24 revenue

CFO News

Wakefit cofounder Chaitanya Ramalingegowda attributed the increase in revenue to the company’s focus on strengthening its omnichannel presence, with some stores reaching maturity and a new wave of outlets opening, along with the benefits of an automated mattress factory.

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Tier-2, 3 cities make a small dent in Bengaluru's GCC growth story

CFO News

Bengaluru saw slower growth than the rest of the country, with the total number of GCC units across the country increasing 62.5% to 2,975 from 1,830 during the five-year period. According to Sangeeta Gupta, chief strategy officer, Nasscom, Bengaluru already houses the largest number of GCCs, which have also matured, and many of these companies could have opened their second or third centers in smaller cities.

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Pay a penalty of Rs 1.5 lakh or 0.5% of total sales if you fail to submit tax audit report by September 30, 2024

CFO News

Income Tax Audit: The tax audit report submission deadline for specified taxpayers is September 30, 2024 for FY 2023-24 (AY 2024-25). If you miss this deadline you need to pay Rs 1.5 lakh penalty or 0.5% of total sales, whichever is lower. This can cause a significant loss, hence upload the tax audit report by September 30, 2024.

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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Government banks on homegrown cos to push EVs

CFO News

The stiff resistance from local incumbents and their aggressive positioning across ministries dealing with automobiles-related issues - from heavy industries to road transport and commerce and industry - is also expected to result in a dilution of benefits for electric vehicles that were proposed under the free trade agreement with the UK, sources privy to the discussions told TOI.

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Rejigged monetary policy committee may not alter status quo

CFO News

Global easing has lowered 10-year govt bond yi elds to a two-and-a-half-year low, but RBI is focusing on food prices.

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