The business wrap: Foreign bank accounts not self-certified to be blocked, and 6 other top stories
Other headlines: Shares of United Airlines’ parent firm fell after the passenger video went viral, and a non-bailable warrant was issued against Vijay Mallya.
A look at the headlines in this sector right now:
- US investors in India must self-certify bank accounts by April 30 to prevent them from being blocked: The CBDT directive is to ensure adherence to the US’ Foreign Account Tax Compliance Act, which applies in India under a deal with the country.
- United Airlines parent company’s shares drop over video of passenger being dragged off flight: United Continental Holdings’ market cap was wiped off around $255 million on Tuesday.
- Delhi court issues new non-bailable warrant against Vijay Mallya in FERA violation case: It does not carry a time limit for execution, unlike the ordinary non-bailable warrant.
- State-run oil corporations will revise petrol, diesel rates every day from May 1: The scheme will first be launched in Udaipur, Visakhapatnam, Chandigarh, Jamshedpur and Puducherry.
- If granted, the extension of deadline to deposit old notes will be applicable to all, says SC bench: The court was hearing pleas against the Centre’s decision to only allow restricted sections of people to exchange scrapped notes until March 31 this year.
- Apple, Microsoft among companies that have stashed $1.6 trillion in tax havens, says Oxfam report: The charity organisation said corporate tax dodgers cheat the poor countries out of approximately $100 billion annually.
- SC orders BSNL to shut down mobile tower after man claims it caused his cancer: This is the first time a cell tower is being deactivated because of an individual’s complaint about its allegedly harmful effects.