Tech

MUMBAI: The fundamental feature of tax treaty — a bilateral pact between two countries to resolve issues of double taxation — has come under question. According to a ruling by the Federal Court of Australia, the payments received by an Indian company from its clients in Australia will be taxed in Australia. The Australian superior court has treated such payments as ‘royalty’ — which can be taxed, even though such proceeds cannot be taxed under local Australian laws. The verdict — relating to one of India’s leading companies Tech Mahindra — goes against the underlying tenet of tax treaties which, as is widely accepted, should be used as shield for the taxpayer and not as sword by the taxman. A tax treaty is used to provide relief and not aimed at imposing tax. “It’s an accepted principle that standalone provision in a treaty does not give the power to impose tax. On the other hand, whenever treaty provisions are beneficial … [Read more...] about Tax treaties under scanner as Australia court says Tech Mahindra to be taxed

Certain types of motorcycles had been popular during certain periods in the Indian market. If initially it was Jawa and Yezdi, mileage-conscious buyers made 100cc bikes popular later. Following this, buyers started demanding not just mileage but also performance and looks. Catering to such varied demands of buyers, bikes ranging from 100 cc to 1000 cc started arriving in the market. … [Read more...] about Tech-loaded new Bullet to get Bluetooth, navigation

The representatives of the sci-tech workers, including agronomist Yuan Longping, respiratory specialist Zhong Nanshan and space expert Ye Peijian, wrote to Xi to express their determination to make contributions in the new era of innovation and entrepreneurship. … [Read more...] about President calls for sci-tech powerhouse

New Delhi: The phone’s been ringing off the hook for Meghna Saraogi, cofounder of Styledotme, a tech solution that caters primarily to jewellery companies. Most of her clients, sixth or seventh-generation jewellers, have traditionally been secretive about jewellery catalogues. But Covid-19 has changed everything. “It's much easier to sanitise an iPad on which people can virtually try on jewellery rather than every single piece after it’s tried on. Contactless selection and try-ons will be the next big thing,” said Saraogi, whose client list includes big names such as Tanishq and Hazoorilal Jewellers. Her business has seen a 150% increase in enquiries since the lockdown began, and not just from India. This is possibly the company’s best business month ever, she said. In a Covid-ravaged world where the rules of business are getting written afresh, the fashion industry is getting a makeover, pivoting toward remote working, digital draping and trials. … [Read more...] about Covid impact: Tech walks the ramp in fashion makeover

PUNE:US visa applicants could be in for a long wait as the agency that administers the visa process is fast running out of funds. The Covid-19 pandemic and consequent lockdowns in many parts of the United States has halved receipts from visa applications and petitions, impacting the US Citizenship and Immigration Services’ (USCIS) ability to function effectively. The USCIS relies primarily on income from visa processing to run operations. More than half of the agency’s 18,700 employees may be furloughed beginning July, the USCIS is believed to have informally told staff, according to a letter sent by Everett Kelley, the national president of the American Federation of Government Employees, to the US Senate and Congress. “The agency claims that a reduction in fee revenue caused at least in part by the Covid-19 pandemic is the rationale for these threatened furloughs….With a loss of nearly 11,000 employees, work and visitor visa petitions, asylum and … [Read more...] about Proposed USCIS furlough could impact tech firms