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Breaking Briefs

7 of top 10 brands homegrown, Parle tops

The report observed among other things how consumption habits are changing in the country where nuclear family structures are coming to dominate the social organisation
Factory outlets to get mall for themselves

These malls are set to address a long-standing infrastructural deficiency for factory outlets since the premium brands did not get the appropriate environment so long in the country
Discretionary spending on the rise since June

The uptick in demand that first became apparent in June has continued in July with companies expecting it to revive fully during the second half of the year
Card spends: Decline in June follows record in May

Expenditure through this plastic route that hit a high of Rs 1.41 lakh crore in May crawled down to Rs 1.37 lakh crore in June – a slide of 2.83%
One wedding, several PANs: I-T’s watching

Driven by the need to further boost the buoyant tax collections, the Central Board of Direct Taxes (CBDT) has decided to go after unreported and underreported ‘high value consumption’ this year
ITR filers rising, but 37% drop in taxpayers

For the financial year 2019-20, a total of 6.47 crore income tax returns were filed out of which 2.90 crore had zero tax liability
Foreign assets in ITR: Declare when in doubt

Some of the assets that are causing confusion are stock options overseas that are yet to be exercised, retirement schemes in the US and other countries and stakes in offshore companies
TCS on foreign card spend likely from April

The Centre issued a notification on May 16 that made the new rates of 20% applicable from July 1. The necessary changes were made under the Foreign Exchange Regulation Act.
Centre bans export of non-basmati rice

Paddy cultivation in the country has lagged behind this year due to the poor balance of monsoon, due to which the prices of rice are rising
Global bond play can help manage CAD: IMF

India's inclusion in the international bond indices would result in higher foreign participation in the country’s bond market and prop up the current account deficit in the medium term, says the IMF

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