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India on Track to Surpass Rs 22.07 Lakh Crore Direct Tax Target, Says CBDT Chairman

According to Central Board of Direct Taxes CBDT Chairman Ravi Agarwal, the Indian government is expected to exceed its direct tax collection goal of R

According to Central Board of Direct Taxes CBDT Chairman Ravi Agarwal, the Indian government is expected to exceed its direct tax collection goal of Rs 22.07 lakh crore for the current fiscal year. He emphasised that net direct tax collections grew by 15.41% to Rs 12.11 lakh crore as of 10 November, reflecting significant corporate and noncorporate tax receipts. Additionally, Agarwal declared that taxpayers may submit amended forms for the fiscal year 2023–2024 until 31 December if they have not proclaimed overseas assets or income. Furthermore, more than 6,000 recommendations have been made to streamline and improve the accessibility of the income tax law. For FY24, the government has set a revised direct tax collection goal of Rs 19.45 lakh crore. Read More..

B2B Tech News | 1 days ago        

Nippon Steel Pledges to Halt Steel Imports to U.S. as It Seeks $14.9 Billion U.S. Steel Acquisition

To complete its $14.9 billion acquisition of U.S. Steel by years end and before Presidentelect Donald Trump takes office, Nippon Steel has promised no

To complete its $14.9 billion acquisition of U.S. Steel by years end and before Presidentelect Donald Trump takes office, Nippon Steel has promised not to import steel into the United States from its foreign plants. Executive Vice President Takahiro Mori wrote to United Steelworkers USW union members to reassure them of the companys commitment to job security and investment in U.S. Steel. If the buyout is successful, Nippon Steel also pledged to sell off a portion of a joint venture for a steel factory in the United States. Mori underlined continued talks and attempts to address union concerns despite union resistance. The U.S. Committee on Foreign Investment is reviewing the offer and is anticipated to decide by December. Read More..

B2B Tech News | 1 days ago        

Resolute Mining Settles $160 Million Tax Dispute with Mali’s Military Government

After its CEO Terry Holohan and two coworkers were detained, Australian gold firm Resolute Mining agreed to pay $160 million to settle a tax dispute w

After its CEO Terry Holohan and two coworkers were detained, Australian gold firm Resolute Mining agreed to pay $160 million to settle a tax dispute with Malis militaryled government. Amidst growing scrutiny of international mining companies in Mali, the executives were detained on their way to Bamako for what was supposed to be a regular meeting. The remaining sum will be paid in the upcoming months after Resolute makes an initial payment of $80 million. Mali tightened its supervision over international operators, notably by enacting a new mining code, to increase its portion of mining profits. The scenario demonstrates the growing hostilities between mining firms supported by the West and Malis military government. Read More..

B2B Tech News | 1 days ago        

Britain and India to Renew Trade Negotiations, Focus on Security, Education, and Tech

India and Britain will begin free trade agreement talks in the new year after a lull because of elections in both nations. According to a statement re

India and Britain will begin free trade agreement talks in the new year after a lull because of elections in both nations. According to a statement released by Prime Minister Keir Starmers office, with an emphasis on security, education, technology, and climate change, the UK hopes to form a "new strategic partnership" with India. With a total yearly trade value of £42 billion between the two countries, this trade agreement is anticipated to boost employment and prosperity in the UK. Issues include Indias demand for more business and student visas and the high import taxes on British whisky, hampered previous negotiations. Both nations see the deal as essential to advancing mutual progress and deepening their economic relations. Read More..

B2B Tech News | 1 days ago        

Asia’s Growth at Risk IMF Highlights Impact of Retaliatory Tariffs on Regional Economy

Retaliatory tariffs might hurt Asias economic prospects by impeding growth, increasing costs, and destroying supply chains, the International Monetary

Retaliatory tariffs might hurt Asias economic prospects by impeding growth, increasing costs, and destroying supply chains, the International Monetary Fund IMF said. IMF AsiaPacific Director Krishna Srinivasan emphasised that tariffs, such as the European Unions levies on Chinese electric vehicles and the United States plans for a 60% tax on Chinese imports, might impede exports, restrict global commerce, and raise inflation. The IMFs World Economic Outlook predicts global growth to be 3.2% in 2024 and 2025, with Asias growth continuing to be higher at 4.6% this year. However, Asias economy is in danger from rising trade tensions and monetary policy uncertainties in developed nations, which affect financial markets and capital flows. Read More..

B2B Tech News | 1 days ago        

Congressmanelect Suhas Subramanyam Opposes Tariffs on India, Warns of Trade War

Suhas Subramanyam, the US Congressmanelect, has stated that he is against putting tariffs on India, stating that doing so might spark a trade war. He

Suhas Subramanyam, the US Congressmanelect, has stated that he is against putting tariffs on India, stating that doing so might spark a trade war. He highlighted how crucial it is to deepen economic connections between the US and India since he thinks it is advantageous for both countries. Along with calling for a secure border and legal immigration changes, Subramanyam, who will serve in Virginias 10th District, also advocated for a reform of the US immigration system. He also resisted the incoming administrations proposal to reduce federal employment. Read More..

B2B Tech News | 2 days ago        

Nigeria Secures $1.2 Billion Deal with China to Revitalize Gas Facility and Boost Aluminium Production

Nigeria and Chinas CNCEC have agreed to a $1.2 billion agreement to restore a gas processing plant at the Nigerian Aluminium Smelter Company. This col

Nigeria and Chinas CNCEC have agreed to a $1.2 billion agreement to restore a gas processing plant at the Nigerian Aluminium Smelter Company. This collaboration aims to increase Nigerias aluminium output and establish it as a significant producer in local and global markets. The agreement is viewed as a step towards economic recovery and more international investment despite the nations financial difficulties, which include rising inflation and a depreciating currency. The partnership strengthens ties between China and Nigeria, which have been closer since 2016. Read More..

B2B Tech News | 2 days ago        

Peru and Japan Sign Defense and Mining Cooperation Deals, Strengthening Bilateral Ties

After the APEC conference, Japans Prime Minister Shigeru Ishiba and Peruvian President Dina Boluarte held an official visit and inked agreements on mi

After the APEC conference, Japans Prime Minister Shigeru Ishiba and Peruvian President Dina Boluarte held an official visit and inked agreements on mining and defence cooperation. With Japan being a significant buyer of Peruvian copper, the agreements entail strengthening mining supply lines. Peru also inked a defence arrangement with South Korea, including the production of fighter jet parts and a submarine agreement. Chinas President Xi Jinping was present at the recent opening of the Chancay mega port in Peru, which improves trade between Asia and Latin America. Read More..

B2B Tech News | 2 days ago        



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