Author: NFAPost News Service

Direct taxes, which comprise income tax paid by individuals and corporate tax, came in at Rs 14.10 lakh crore — Rs 3.02 lakh crore higher than the budget estimate New Delhi, NFAPost: India’s tax collections soared to a record high of Rs 27.07 lakh crore in the fiscal year ended March 31 as mop-up from income and other direct taxes as well as indirect taxes jumped, Revenue Secretary Tarun Bajaj said. Gross tax collection of Rs 27.07 lakh crore during April 2021 to March 2022 compares with budget estimate of Rs 22.17 lakh crore, he told reporters here. Direct taxes,…

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Around 22.8 million precaution or booster dose have been administered to healthcare and frontline workers along with senior citizens after the population segments opened up in the first week of January. Mumbai, NFAPost: India opened ‘precaution dose’ or third shot for all adults at private vaccination centres from April 10. As the XE fear grips the world, India braces up to give a third dose of Covid-19 vaccine to all its adults. This time one has to pay for getting the jab at a private vaccination centre. The Union Health Ministry on Friday said that the ongoing free government vaccination…

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New Delhi, NFAPost: Deeply anguished by the recent move of Flipkart to enter in online medicine vertical, the Confederation of All India Traders ( CAIT) has sent a communication to Union Commerce Minister Piyush Goyal and Union Health Minister Mansukh Mandawia drawing their urgent attention to prohibit marketplace e-pharmacies from selling drugs in India so that the provisions of Drugs and Cosmetics Act and Rules (DC Act and Rules) are fully complied with; CAIT National President B C Bhartia and Secretary General Praveen Khandelwal said that DC Act and Rules regulate the import, manufacture (for sale or distribution), sale and…

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Mumbai, NFAPost: Tata Digital unveiled its much-anticipated super-app Tata Neu. The super-app from the group seamlessly blends product commerce, service commerce and financial services into a consumer-first, future-ready, integrated experience. From fashion to finance, gadgets to groceries, hotels to health, and tech to travel, Tata Neu brings together diverse offerings, combining the power of various consumer brands of the Tata Group to deliver a superior experience. Tata Neu is a one-stop destination for all consumer needs. The super-app also offers a suite of financial offerings including UPI, bill payments, loans, and insurance. Tata Neu creates deep value for consumers with…

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Instaclustr helps in deploying and managing open-source data and workflow aplications as a service The acquisition will bring management, monitoring and optimisation for storage, compute and data Together with fully managed application services to provide customers a platform for cloud applications from the data center to the public cloud Bengaluru, NFAPost: NetApp, a global, cloud-led, data-centric software company, announced that it has signed a definitive agreement to acquire Instaclustr, a leading platform provider of fully managed open-source database, pipeline and workflow applications delivered as a service. The acquisition is subject to customary closing conditions. Modern cloud applications rely on a…

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New Delhi, NFAPost: The National Payments Corporation of India (NPCI), the apex body created by RBI for operating retail payments and settlement systems in India, has made it clear that it is not involved in cryptocurrency transactions via the Unified Payments Interface (UPI). The clarification of NPCI comes at a time when the government has already given green signal for the digital currency in the country in the Union Budget 2022/23. The national body facilitating inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions made it very clear that media reports of allowing the purchase of cryptocurrencies using UP are absolutely wrong.…

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Bengaluru, NFAPost: Unacademy, an edtech startup founded in 2015 by Gaurav Munjal, Roman Saini and Hemesh Singh, has laid off around 1,000 employees. This has opened up questions on the scope of India’s education startup which are widely seen an investment destination. According to sources familiar with the development, about 600 of the staff were asked to leave last week from Unacademy group firm including Prepladder, CodeChef, Graphy and Relevel. The decision to reduce employees stems from the company’s decision cut costs amid an impending slowdown in venture funding and tightening of the overall economic environment. Unacademy was valued at…

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Bengaluru, NFAPost: Infosys, a global leader in next-generation digital services and consulting, and Rolls-Royce, one of the world’s leading industrial technology companies, inaugurated their joint ‘Aerospace Engineering and Digital Innovation Centre’ in Bengaluru, India. This centre has been established to provide high-end research and development (R&D) services integrated with advanced digital capabilities to Rolls-Royce’s engineering and group business services from India. Infosys and Rolls-Royce’s collaboration has been reinforced through strategic deals, aimed at yielding mutual benefits to both organisations over the next seven years. Speaking about the new centre, Rolls-Royce President – India and South Asia Kishore Jayaraman said the…

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Tata Motors said it has bagged an order for 1,300 commercial vehicles from VRL Logistics. New Delhi, NFAPost: Tata Motors said it has bagged an order for 1,300 commercial vehicles from VRL Logistics. The order comprises medium and heavy commercial vehicle and intermediate & light commercial vehicle range, suited for logistics operations of VRL Logistics, the Mumbai-based automaker said in a statement. The vehicles were selected basis the superior drivability, high fuel efficiency and low total cost of ownership, which will enable VRL Logistics to increase its fleet efficiency, it added. Tata Motors Commercial Vehicle Business Unit Vice President, Sales…

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The main reason for waiting for the IPO is due to Flipkart’s internal plan to boost valuations further New Delhi, NFAPost: Walmart’s Indian e-commerce company Flipkart has internally raised its IPO valuation target by around a third to $60-70 billion, and now plans a U.S. listing in 2023 instead of this year, two sources with direct knowledge of the plan told Reuters. Flipkart, which competes with Amazon.com Inc in India’s booming e-commerce space, had earlier set an IPO valuation goal of $50 billion, Reuters has reported. The main reason for waiting for the IPO is due to Flipkart’s internal plan to boost valuations…

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