The pay of CFO of TCS rose 38.6% to Rs 4.1 crore in fiscal 2019 from Rs 2.9 crore in fiscal 2016. The pay of Tata Steel CFO rose 44.7% to Rs 10.8 crore in fiscal 2019 from Rs 7.3 crore in fiscal 2016. Pay of ICICI Bank CFO rose the highest 61% to Rs 4.13 crore, while that of finance chief of RIL rose 31% to Rs 14 crore. Why are CFOs salary on the rise? is it a new trend? ETCFO explores.
Ecom Express CFO and EVP, Mayank Gupta, claims the company to be profitable at (Profit after tax) PAT level for the last two years and feels that they are an “eligible candidate” for IPO. They would be planning to go public from “as early as next financial year to as late as next two-three years”
Parag Sharma says good Rabi harvest and infrastructure thrust of the government would lead to higher credit update in this quarter. The liquidity for NBFCs has improved post initiatives like Partial Credit Guarantee Scheme and on-lending framework, he says
An estimated Rs 50,000 crore is being sought by tax authorities from people in the gems and jewellery sector, reported Reuters quoting sources.
TK Sridhar believes that stimulus-led growth can pave the way for a pickup in the capex cycle of India. But it all depends on how the global macros pan out. On micro front ABB seems to be prepared to augment growth opportunities.
“The auditor is required to report as to whether any fraud by the company or any fraud on the Company has been noticed or reported during the year; If yes, nature and the amount involved is to be indicated,” states the release by the MCA.
The outbreak of Coronavirus can have adverse implications on the employability in India next financial year as companies, amid caution, may put off any fresh hiring plans, fears TeamLease Chief Financial Officer Ravi Vishwanath.
Basis an analysis of the algorithms to determine ticket fare, Competition Commission of India noted that all five airlines -- IndiGo, SpiceJet, GoAir, Air India and Jet Airways -- were working independently.
Some sectors in India are likely to be affected but alternatives are being explored to overcome those issues, he said.
ETCFO discusses the readiness of GSTN for e-invoicing and how should the industry prepare for the same.
PR Ramesh believes that India needs more large audit firms. "One needs to ensure that the medium sized firms become equally big," he says.
Any epidemic has a large impact on the economic environment globally. Apart from the direct influence, the panic strikes a chord which works adversely on the minds of the larger workforce.
With the abolishment of the dividend distribution tax (DDT) in budget 2020, there is a possibility that an investor who gets dividend can now set off the tax paid on it either in India or his home country.Thus MNCs from countries such as Switzerland and France may even get to set off an additional 5% tax against liabilities in their home country.
Grant Thornton CEO Vishesh Chandiok discusses government's recent proposals for auditors. He thinks the audit profession requires today implementation of the current norms and not any new laws in the game.
This is the same situation playing out in India that had first taken place in the UK audit market when the UK subsidiaries of PwC and EY had decided against offering advisory or consulting services to their audit customers after British lawmakers pulled them up for their poor show during the collapse of the government construction contractor Carillion in January 2018.
