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Employees can claim 100% deduction on donations made to PM-CARES via employers

The Central Board of Direct Taxes (CBDT)has said the employees who have contributed to the PM-CARES fund through employers can claim full tax deducition by mentioning it in Form 16. A separate certificate will not be issued for every employee for the donaton,CBDT added. Earlier, the government extended the deadline for saving tax for 2019-20 to June 30.

India to export 90,000 tonnes of surplus wheat to Afghanistan, Lebanon

India will export 50,000 tonnes of wheat to Afghanistan and 40,000 tonnes to Lebanon in diplomatic deals, Agriculture and Farmers' Welfare Minister Narendra Singh Tomar said. He said the decision was made after receiving requests from the two countries, as India produced more wheat than it consumes. India is expected to produce a record 106.21 million (10.621Cr) tonne wheat this year.

DMart says almost half of its 206 stores across India are closed

Supermarket chain DMart on Friday said that nearly half its 206 stores across the country are closed, following the directions issued by authorities amid the lockdown. The company added that footfall at stores that are open is "Significantly lower than usual" due to restrictions imposed by the authorities. DMart said it's selling only essential items from the operating stores.

Hong Kong's richest man sees value of his Zoom stake rise 80% to $3 billion

Li Ka-shing,who as per Bloomberg Billionaires Index is Hong Kong's richest person, has witnessed the value of his 8.6% stake in video conferencing service Zoom rise by 80% to $2 billion this year. The 91-year-old's stake was worth around $850 million when Zoom started Publicy trading in the US in April 2019. Li first invested in Zoom in 2013.

ED orders seizure of luxury cars used by DHFL promoters to travel amid lockdown

The Enforcement Directorate has issued seizure orders for five luxury vehicles used by DHFL promoters Kapil and Dheeraj Wadhawan to visit a farmhouse in Maharashtra's Mahabaleswar. The promoter were detained, alongside 21 others, for violating prohibitory orders amid lockdown. The two Range Rover and three Toyota Fortuner cars are "benficially owned"by the Wadhawan brothers, the oeder stated.

Don't release DHFL promoters from quarantine without nod:CBI to autherities

The CBI has asked the Satara District Magistrate in Maharashtra to not release DHFL promoters Kapil and Dheeraj Wahawan from a coronavirus quarantine centre without its approval. The brothers were detained with 21 others on Thursday for Violating prohibitory order amid lockdown. The CBI said it has non-bailable warrants against the two in the Yes Bank fraud case.

Mahindra replaces plates with banana leaves at factories, Kerala CM welcomes move

Mahindra Group Chairman Anand Mahindra took to Twitter to share how he replaced plates with banana leaves in his company's factoies to help farmers. Mahindra said the idea was suggested by a retired jouralist, Padma Ramnath. Welcoming the move, Karala CM Pinarayi Vijayan tweeted, "We hope that many more will emulate Anand Mahindra in adopting such eco-friendly and farmer-friendly methods."

Reliance Power plant's fly ash pond develops breach in Madhya Pradesh, 2 dead

Two people died and four others are missing after a dyke of a fly ash pond of Reliance Power's coal-fired power plant breached in Madhya Pradesh's Singrauil district on Friday. "The bodies were found as far as five kilometers away from the ash dyke breach site,''Singrauil Distrist Collector KVS Choudary said, adding the four missing were also feared dead.

IMF MD appoints Raghuram Rajan, 11 others to external advisory group

Former RBI Governor Raghuram Rajan, along with 11 others, has been appointed to an external advisory group to IMF Managing Director Kristalina  Georgieva. The group will provide a global persective on developments and policy issues, including responses to challenges due to coronavirus, the IMF said. "We need top-notch input and expertise from the widest range of sources,"Georgieva said.

Mumbai-based startup SugarBox rasing over ₹500 cr from Zee Entertainment

Mumbai-based technology startup SugerBox is raising ₹522 cr in a fresh funding round from media and entertainment company Zee Entertainment Enterprise (ZEEL). ZEEL had acquired an 80% stake in the startup three year ago, for nearly ₹75 cr. Founded in 2016, SugarBox provides a platform to let users access several supported supported mobile apps without an active internet connection.

TIK TOK commits $250 mn to support COVID-19 relief efforts

Tik Tok has announced that it is pledging $250 million to support front-line workers,educators and local communities affected by the COVID-19 pandemic. It has committed to an additional $25 million in ads space to help public health organisations deliver crucial information. Besides this Tik Tok made another $100-million commitment in advertising credits for nusinesses looking to rebuild.

HEADLINES

Amazon leads ₹29cr round in financial marketplace Bankbazaar.

Ola Group contributes ₹5cr to PMCARES funds.

US tech firm help IIT-incubated startup develop low-cost Ventilators.

Swiggy and Byju's investors Prosus to donate ₹100cr to PM-CARES Fund.

EPFO settles 1.37lakh claims worth ₹280cr in 10 days amid lockdown.

US order for hydroxychloroquine not ready yet: India's IPCA Laboratories.

by Arshad Ansari

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