Tips Watch
JULY 28, 2024
By David Enna, Tipswatch.com The recent release of the June 2024 inflation report created a baseline number for next year’s cost of living adjustment for Social Security recipients.
CFO News
JULY 28, 2024
CFOs are aligning talent management with organisational goals. ETCFO explores how finance leaders are tailoring their approaches to meet unique needs and industry demands.
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CFO Thought Leader
JULY 28, 2024
At a recent executive team dinner, several Acorns executives were reminiscing about their childhood professional aspirations. While many had had career dreams that had long ago lost their luster—Seth Wunder told his colleagues that he never gave much thought to being anything other than an investor. “I grew up in a household and family that was focused on investing and on the growth of the markets,” Wunder recalls.
Future CFO
JULY 28, 2024
Chankiriroth Sim , CEO & founder of Banhji , discusses how his background has helped him bridge the gap between finance and technology, and the unique value this combination brings to the SMEs he serves. The post Fostering financial inclusion through fintech innovation appeared first on FutureCFO.
Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting
Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical
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CFO News
JULY 28, 2024
As micro, small and medium enterprises (MSMEs) are an integral part of the BRICS countries, there is a need for cooperation and collective efforts for outcome-oriented support for the sector, which form the backbone of the overall industrial ecosystem and economic growth, said Commerce Secretary Sunil Barthwal.
Corporate Finance Brief brings together the best content for corporate finance professionals from the widest variety of industry thought leaders.
CFO News
JULY 28, 2024
India's cement industry is witnessing an intense battle as Gautam Adani's expansion efforts trigger a race with Kumar Mangalam Birla's UltraTech Cement Ltd. Both billionaires are striving to dominate the supply of cement, crucial for India's infrastructure boom. In less than two years, Adani and UltraTech have completed six deals, with UltraTech announcing a seventh acquisition of a key regional player.
CFO News
JULY 28, 2024
Ola Electric's IPO, opening August 2, has drawn significant interest from domestic and international investors, valuing the company at nearly $4 billion. The IPO includes $5,500 crore from fresh shares and 85 million shares for sale. CEO Bhavish Aggarwal will reduce his stake to 37%. The listing is expected on August 9.
CFO News
JULY 28, 2024
The Bar Council of India and the Law Society of England and Wales discussed allowing foreign law firms in India. Despite initial excitement, regulatory clarity remains elusive, delaying plans. Global firms are cautious due to tax and registration ambiguities. Key stakeholders urge clear and transparent rules to effectively integrate foreign legal practices into India’s market.
CFO News
JULY 28, 2024
In early July, Indian banks borrowed a record Rs 1.19 lakh crore from the market due to challenges in attracting deposits, which totaled Rs 1.02 lakh crore. The Reserve Bank of India data revealed this borrowing trend as a result of the budget's lack of deposit-attracting measures. Total bank borrowings reached Rs 8.83 lakh crore, influenced by the HDFC and HDFC Bank merger.
Speaker: Amanda Adams, Fractional CFO, CPA
Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.
CFO News
JULY 28, 2024
The massive jump in retail participation in futures and options trading, crypto trading and sports betting has increased the tax filing challenges for chartered accountants and lawyers. People who are helping consumers file their taxes told ET that many of them have undertaken 25,000 FnO transactions, more than 1 lakh crypto trades and actively bet on sports.
CFO News
JULY 28, 2024
The move is aimed at plugging the loophole that house owners used to lower their tax liability. "The amendment will take effect from the 1st day of April, 2025 and will, accordingly, apply in relation to assessment year 2025-26 and subsequent assessment years," as per the Memorandum to Union Budget 2024.
CFO News
JULY 28, 2024
The government has mandated that a person who is liable to pay any taxes, or yet to clear any kind of tax dues cannot leave the nation unless their taxes are cleared. Further, the government has clarified that only specific individuals who meet certain criteria, such as involvement in financial irregularities or having substantial tax arrears, are required to secure this certificate.
CFO News
JULY 28, 2024
Colgate-Palmolive India Ltd has received a tax demand notice of Rs 248.74 crore from the Income Tax Authority for the financial year 2020-21 due to transfer pricing issues. The company will appeal the order, which includes Rs 79.63 crore in interest, before the appellate tribunal. Financial operations remain unaffected.
Speaker: Abdi Ali, Sr. Lease Accounting Consultant
Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.
CFO News
JULY 28, 2024
But in the telecom services segment, Bharti Airtel, the second largest operator that had 23,628 on-roll employees at the end of FY24, provided salary hikes in the range of 10-12%, people familiar with the matter said. Loss-making Vodafone Idea, with over 9,000 employees, also gave hikes of 8-11%, they said. Reliance Jio Infocomm has yet to announce the hikes for this year.
CFO News
JULY 28, 2024
Tata Motors is in a legal conflict with the EPFO over transferring its employee provident fund. Tata Motors seeks to surrender its exempted status, but EPFO requires detailed documentation. The Supreme Court ruling and subsequent legal actions have prolonged the issue. The matter is scheduled for a hearing in the Delhi High Court on August 8.
CFO News
JULY 28, 2024
Adani-Hindenburg row: In the ongoing Adani-Hindenburg saga, new revelations show that US short-seller Hindenburg Research shared its critical report on the Adani group with New York hedge fund manager Mark Kingdon months before its public release. According to Sebi, this collaboration involved a profit-sharing agreement tied to significant declines in Adani's market value, exceeding USD 150 billion across 10 listed firms.
CFO News
JULY 28, 2024
He has over 33 years of extensive experience in the Finance sector, including his previous tenures as Managing Director and CEO at Industrial Finance Corporation of India (IFCI) and Deputy Managing Director at SIDBI.
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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.
CFO News
JULY 28, 2024
Finance Minister Nirmala Sitharaman revealed that the government is establishing a new fund to help MSMEs facing financial issues due to delayed payments. Traders must now clear MSME bills within 45 days according to Section 43B(h) of the Income Tax Act. The new rule, active from April 1, has made MSMEs apprehensive. The budget has also offered collateral-free loans for MSMEs and proposed a Rs 1000 crore venture capital fund for the space sector.
CFO News
JULY 28, 2024
India aims to become a USD 30 trillion economy with a per capita income of USD 18,000 by 2047, according to NITI Aayog’s "Vision for Viksit Bharat @ 2047: An Approach Paper." This ambitious goal requires India to avoid the Middle-Income Trap by significantly boosting its GDP and per capita income.
CFO News
JULY 28, 2024
Angel tax (income tax at 30% rate) was imposed on funding raised by unlisted companies, or startups, if their valuation exceeded the company's fair market value.
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