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India_News

A collection of 5 posts

Billdesk sold in India's largest fintech deal 🤯
India

Billdesk sold in India's largest fintech deal 🤯

What happened — private equity giant Prosus brought the big guns to acquire one of India’s oldest payment processors, Billdesk, in a $4.7 billion deal [https://techcrunch.com/2021/08/30/prosus-acquires-indian-payments-giant-billdesk-for-4-7b-will-merge-with-its-payu-fintech-group/] . Billdesk [https://www.billdesk.com/web/] basically offers an online payment gateway that lets large enterprises as

What is Retro-Tax and why is India canceling it? 🤔
India_News

What is Retro-Tax and why is India canceling it? 🤔

What’s poppin’ — finance ministry is amending the Income Tax Act [https://www.bloombergquint.com/business/retrospective-tax-on-indirect-transfers-to-be-made-prospective-new-bill] to remove a stupid-ass clause brought in 2012, that demanded retrospective taxes be paid to government on indirect transfer of assets, that happened even way back in history. Some handholding — so lets take

India may soon get a new Airline ✈️
India_News

India may soon get a new Airline ✈️

What’s poppin’— ET reports [https://www.moneycontrol.com/news/business/rakesh-jhunjhunwala-to-back-new-low-cost-airline-may-own-upto-40-percent-stake-report-7157111.html] that a new low-cost nationwide airline is in the making, kicked off by a bunch of ex-aviation sector executives, backed by dollars from billionaire investor Rakesh Jhunjunwala. Details remain scant, but Jhunjunwala plans on owning about 40%