Accordingly as the Walmart-Flipkart deal received a nod from the Competition Commission of India, the government of India will gain a windfall tax collection of $2 billion or Rs 13,000 crore, and according to a report it may be recalled that much before the deal was officially announced by both the parties, the Indian Income Tax authorities wrote a soft communication to both of them raising the issue, explaining that there will be tax implications in the deal and that if either Walmart or Flipkart.
Meanwhile Walmart took its time to respond to this letter but it eventually did, confirming that it believes in complete compliance with local regulations in all the countries that it operates in and that it will abide by the Indian laws as well. Presently it is learnt that Walmart will now issue cheques to the different stake holders after retaining the tax component and issue the certificates to them after remitting it to the government.
Moreover the sellers like SoftBank have also
reconciled to receiving the net amount from Walmart after tax deductions. Furthermore
it its case the liability could be in the region of $600 million and SoftBank
alone would gain around 60% on the amounts it had invested in Flipkart.
Indian Railways linked its locomotives via ISRO satellites According to sources the Indian Railways has linked its locomotives via ISRO satellites, making it easy to track trains and automatically feed the control charts about the trains arrival and departure. The officials said "A new beginning has been made in the new year: the train movement information is acquired and fed to the control charts using ISRO (Indian Space Research Organization) satellite based real time train information system (RTIS) automatically”.
- Jallikattu opening day Festival begins with 500 Bulls in Tamilnadu
- Will Indra Nooyi become World Bank President?
- Yogi Adityanath record spending on festival!
- Supreme Court hearing on Interim CBI chief!
- Is YS Jagan is allying with KCR to form Andhra Drohula Front?
- Indra Nooyi been courted as an administration ally by Ivanka Trump
- How to Copy in Exams? Ad went viral in WhatsApp
- Why Shashi Tharoor not allowed into Sree Padmanabhaswamy temple in Kerala with PM Modi?
- 2 Young Women decided to contest Telangana Panchayat Polls
- 2.0 s costumes, Robot Models exhibited at Chennai Island Grounds
- Vishal confirms his wedding with Hyderabad based Businessman daughter
- 2 Women who unsuccessfully attempted to enter Sabarimala temple begins hunger strike
- Flight operations at Bengaluru airport to face disruptions from February 14 to 24
- Will YS Jagan accept invitation from KTR in joining Federal Front?
- Why YS Jagan Sister made a complaint with Hyderabad Police?