Day: August 5, 2020

Brent Oil Tops $45 a Barrel With U.S. Crude Stockpiles Easing

(Bloomberg) — Oil climbed to a five-month high in London, topping $45 a barrel after U.S. industry data showed a decline in the nation’s stockpiles.

Brent futures gained for a fourth day, rising as much as 1.7% to the highest price since March 6. The American Petroleum Institute reported a 8.59 million-barrel drop in crude inventories last week, according to people familiar with the figures. Meanwhile, European equities and U.S. futures advanced on signs American lawmakers are making progress on an economic aid package.

Oil has struggled to maintain its momentum after rallying from a plunge below zero in April

Income Tax compliance made easier; fewer cases go for scrutiny: FinMin

Among the major states, Bihar and Jharkhand saw minimum cases related to scrutiny.

In an effort to ease the compliance burden on taxpayers, the Income-Tax department has significantly cut the number of cases selected for scrutiny over the years. Scrutiny by the I-T Department was reduced to 0.25 per cent of the total Income Tax Returns (ITRs) in the assessment year 2018-19, after rising to 0.55 per cent in the assessment year 2017-18, which was the year of demonetisation, according to the data tweeted by the Finance Ministry. The government said that the I-T Dept is changing-from just enforcement to

Interview | Six-month period to restore full-scale MSME operations seems ambitious: PHD Chamber President

It is clear that the sentiment has completely shifted towards setting up business enterprises in countries other than China, said PHD Chamber President Dr DK Aggarwal.

Ease of Doing Business for MSMEs: India’s vast MSME sector, which spans across every sector and industry with 6.33 crore units out of which over 99 per cent — 6.30 crore units are micro-businesses, is likely to take anywhere from six months to over a year depending on the sector to recover back to the pre-Covid scenario. Industry experts with whom Financial Express Online earlier spoke with have been claiming recovery between 25 per