New York-based alternative investments firm Tiger Global Management is ready to move court after Authority of Advance Ruling (AAR) refused to grant relief over taxability of its Rs 14,500-crore sale of Flipkart stake to Walmart, the Economic Times reported. The report revealed that Tiger Global entities had reached out to the AAR after the Income Tax Department rejected its application when it had sought relief under the India-Mauritius Double Tax Avoidance Agreement (DTAA). The firm is expected to argue that investment arms are not liable to pay tax in India as it’s protected by the Mauritius treaty.
Twitter brings Fleets feature to India
San Francisco headquartered social networking company Twitter is ready to launch Fleets in India, Enrackr reported. This feature will enable users to share text, photos, and videos that only last for 24 hours. India will become the third market after Italy and Brazil to run the feature. Additionally, fleets cannot be liked, replied or retweeted.
MeitY to help Indian IT firms secure more projects from central and state governments
The ministry of electronics and information technology (MeitY) has facilitated a proposal to ease procurement norms for the local information technology (IT) firms, the Economic Times reported. With the new proposal, Indian software companies could secure more projects from central and state governments.
Facebook files lawsuit against India based domain provider
Menlo Park, California-based social media giant Facebook has filed a lawsuit in Virginia against India-based domain provider Compsys Domain Solutions, according to a report by Inc42. The lawsuit was filed because Compsys allegedly issued 12 fake domains of Instagram, Whatsapp, and Messenger. Facebook has alleged that the domains were designed to deceive people by impersonating Facebook-owned social media platforms, the report revealed.
Icertis appoints Ajay Bhandari as EVP and global head
Bellevue, Washington-based cloud management solutions provider Icertis has appointed Ajay Bhandari as its executive vice president and global head of professional services. Bhandari is expected to lead Icertis’ implementation and service delivery teams to help customers derive maximum value from the Icertis contract management (ICM) platform, according to a statement. Prior to the current role, he served as executive vice president and chief corporate development officer at Zensar Technologies. Bhandari has around 25 years of experience in designing company strategies and initiatives.