NEW GROCERY TAX SUBURBS
Max 60 tax audits per partner likely: ICAI
From fiscal year 2027, a partner in an accounting firm can conduct a maximum of 60 tax audits annually. Charanjot Singh Nanda, president of ICAI, shared this decision. The Institute of Chartered Accountants of India aims to discourage audit assignment concentration. New guidelines will soon be notified after ICAI's council meeting in May.
Vishal Mega Mart promoter sells equity worth Rs 10,220 crore via block deals, 3 mutual funds among buyers
Vishal Mega Mart promoter Samayat Services sold 90 crore shares worth ₹10,220 crore via block deals. SBI MF, HDFC MF, and Kotak MF acquired over ₹3,600 crore worth. The shares were sold at a 9% discount to market price.
Thane to host ET Make in India SME Regional Summit on June 26
The event, themed ‘Thane means business: Manufacturing excellence, entrepreneurial drive’, will bring together local MSMEs, policymakers, enablers, and industry stakeholders.
Rs 15 lakh salary in India vs $80,000 in Canada: CA decodes what 'blind' obsession with foreign life could cost you
Many Indians dream of Canada, but a new analysis suggests a Rs 15 lakh salary in India can offer a better lifestyle. High taxes and living costs in Canada can diminish the appeal of an $80,000 income. Many migrants face job struggles and isolation. While some professionals thrive, others find it a tough hustle.
Income tax slabs for ITR filing FY 2024-25 are different under new tax regime: Check details
Many taxpayers are unaware of the income tax slabs that will apply to their income under the new tax regime, which is necessary to calculate their tax liability. This is because the income tax slabs for FY 2024-25 (AY 2025-26), i.e., for the previous financial year, differ from those for the current financial year 2025-26.
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Who owns New World Victoria Park supermarket in Auckland that caught fire
New World Victoria Park, the Auckland supermarket evacuated due to a fire, is owned by one of New Zealand’s top 25 supermarket owners. Located at 2 College Rd in Freemans Bay, the high-performing store serves affluent suburbs and is currently undergoing renovation. It operates under the Foodstuffs New Zealand cooperative
Vishal Mega Mart promoters likely sell Rs 10,500 crore stake via block deal, stock down 8%
Vishal Mega Mart share price will be in focus as promoter Samayat Services LLP plans to offload a 10% stake worth ₹5,057 crore via block deals at ₹110 per share. The mid-cap retailer, listed in December 2024, recently posted strong Q4 earnings and has gained 18% YTD, outperforming the Nifty.
Mumbai weather: Rains continue in financial capital with warning for high waves; Check IMD's prediction for today
Mumbai is experiencing continued rainfall. The weather department forecasts more rain for the city and suburbs. A high wave warning is in effect for coastal areas. Heavy rain earlier caused waterlogging. An orange alert is in place, with potential for flooding and traffic. Authorities are on alert, urging caution, especially in low-lying areas. Intermittent rain is expected from Wednesday.
FMCG companies fear West Asia unrest may drive up input prices
Geopolitical tensions in West Asia may increase crude oil prices. This could negatively impact demand for packaged foods, beverages, detergents and paints. Companies fear rising input costs will hurt consumers. Earlier, firms anticipated demand recovery due to interest rate cuts and a good monsoon. Disruptions may affect packaging costs. Dabur and Bisleri are closely monitoring the situation.
Vishal Mega Mart promoter to sell 10% stake worth Rs 5,057 crore via block deal: Report
Vishal Mega Mart’s promoter, Samayat Services LLP, plans to sell 10% equity via block deals worth ₹5,057 crore at a 12% discount. Despite this, shares closed higher. The retail firm posted strong Q4 earnings, with net profit up 88% YoY.
Mumbai rains: Air India issues travel advisory for flight operations to & from Chhatrapati Shivaji International Airport
Air India on Monday issued a travel advisory for passengers flying to and from Mumbai’s Chhatrapati Shivaji International Airport, warning that heavy rainfall could affect flight operations. Passengers were advised to check flight status on the airline’s website and plan for additional travel time. IndiGo also released a similar advisory citing temporary disruptions in flight schedules.
Mumbai rains: IndiGo issues travel advisory for passengers travelling from Chhatrapati Shivaji International Airport
IndiGo Airlines alerts passengers about flight disruptions in Mumbai. Heavy rains caused temporary changes to flight schedules. Passengers are advised to expect delays. Traffic is moving slowly. The India Meteorological Department issued an orange alert for heavy rains. South Mumbai and western suburbs experienced significant rainfall. Passengers should check their flight status before travelling. The airline is monitoring the situation.
Canada’s groundbreaking $2,400 disability benefit launches June 20; Who qualifies, how to apply, and what they’re not telling you
Starting June 20, eligible Canadians with disabilities can apply for the Canada Disability Benefit, a federal program providing up to $200 monthly. Aimed at those with the Disability Tax Credit, the benefit seeks to alleviate poverty, with payments beginning July 2025. While praised as a crucial step, concerns remain about eligibility restrictions and potential provincial clawbacks.
Mumbai weather: IMD sounds orange orange alert for heavy rainfall today
Mumbai Weather today: Mumbai experienced heavy rainfall early Monday, leading to waterlogged conditions in several areas. South Mumbai and western suburbs received the most rainfall. The India Meteorological Department (IMD) has issued an orange alert for the day. Heavy rain is expected to continue, especially in South Mumbai and western suburbs. Authorities are on alert, and disaster response teams are on standby.
Mitra can save Rs 55,000 tax by opting for NPS, new tax regime
Sudhir Kaushik of TaxSpanner.com tells readers how they can optimise their tax by rejigging their incomes and investments.
Paid tax abroad? Here’s how to claim foreign tax credit in India
Foreign tax credit is a key relief for Indian taxpayers with foreign income, but ambiguities in domestic laws and DTAAs remain. To avoid litigation, taxpayers must closely examine both domestic tax provisions and applicable treaties.
Online pharmacies could face stricter check-ups
The government is planning stricter rules for online medicine platforms. This follows rising complaints about unverified prescriptions and a surge in these platforms. Some deliver medicines very quickly. Current drug laws don't clearly cover online pharmacies. A new law is in the works. A previous notification allowing doorstep delivery of drugs during Covid-19 may be withdrawn.
Online pharmacies could face stricter check-ups
Amid rising concerns over unverified prescriptions and a surge in online pharmacies, the government is intensifying regulation and scrutiny on platforms promising medicine delivery within minutes. Complaints regarding bypassed safeguards like age verification have prompted this action.
Mumbai weather: IMD issues yellow alert for rain, neighbouring districts under orange alert
The India Meteorological Department (IMD) has issued weather alerts for Mumbai and surrounding districts, predicting rainfall. Mumbai is under a 'yellow' alert with forecast of heavy showers, while Thane, Raigad, and Palghar are under an 'orange' alert for heavy to very heavy rainfall. The city experienced overnight showers, with no major waterlogging reported and high and low tides are expected.
When ICE strikes, Santa Ana’s grocery heroes roll out: Undocumented community gets volunteers for help
In Santa Ana, California, volunteers are helping undocumented families. These families fear immigration officials. Volunteers deliver groceries and provide rides. Recent immigration sweeps caused widespread fear. Many residents avoid leaving home. The support network includes legal and social services. Local groups and the city government are also involved. They offer aid to the immigrant community.
Tourist campervan crash victim ‘haunted’ by pain but ‘thankful to be alive’ month after accident near her home
A woman suffered critical injuries after a tourist's campervan hit her vehicle when she was driving home from the supermarket in Omanawa. The accident occurred in May 2025. Her neighbour, Michelle Topham, expressed her distress upon learning about the crash. Jamieson spent four nights in the hospital due to a dislocated foot, fractured elbow, and other injuries.
State-run power firm Mahavitaran files plea to distribute electricity across Mumbai
MSEDCL has applied to MERC for a parallel license to distribute electricity in key Mumbai regions, aiming to expand its footprint. The utility plans to supply areas from Colaba to Mira Bhayandar, leveraging its extensive network and experience in Maharashtra.
Superannuation changes explained: Why 80,000 retired and super-rich Aussies will pay more tax
Australia's superannuation tax system is undergoing significant changes starting July 1, including an increase in the mandatory employer contribution rate to 12%. A 30% tax will now apply to earnings on super balances above $3 million, impacting high-balance savers and defined benefit pensioners. While most Australians will benefit from increased contributions, concerns remain about the long-term effects of the unindexed threshold.
Aten Papers and Foam IPO opens for subscription today. Check details
Aten Papers and Foam's IPO, featuring a fresh equity sale of 33 lakh shares, opened on June 13, aiming to raise Rs 31.68 crore. With a price band of Rs 91-96 per share, the IPO proceeds will fund capital expenditure, working capital, and general corporate needs. The company, a paper supply chain intermediary, saw revenue rise 43% to Rs 138.
Maharashtra cabinet gives nod to hike excise duty on liquor, grant statutory status to SC commission
The Maharashtra cabinet has approved changes to boost revenue. Excise duty on liquor will increase. A new category for locally made liquor is introduced. The cabinet granted statutory status to the Maharashtra State Scheduled Castes Commission. Stipends for physiotherapy, occupational therapy, and nursing students will also increase. These measures aim to generate additional revenue and support social justice and education.
BigBasket to launch 10-minute food delivery across India by March 2026, executive says
The Tata-backed grocery giant will take on established players such as Swiggy's Snacc, Blinkit's Bistro and Zepto Cafe, which already deliver coffee and ready-to-eat snacks in less than 15 minutes.
JM Financial gets 142,000 sq ft Mumbai office space through CIRP resolution
JM Financial Products has acquired 142,000 sq ft of office space in a Mulund high-rise as part of a bankruptcy-linked settlement involving Ariisto Realty. The Rs 150 crore property transfer, structured through the insolvency resolution process, marks a strategic addition to JM’s portfolio and reflects evolving real estate debt settlements.
New grocery tax coming to Chicago and suburbs; here’s what you need to know Chicago’s new grocery tax
Chicago and its suburbs, including Evanston and Oak Park, will implement a 1% grocery tax starting June 3, 2025. This measure aims to address budget deficits and support essential public services like public safety, schools, and infrastructure. While officials highlight the benefits for community programs, critics worry about the regressive impact on low- and middle-income families.
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