OPINION, P8 M&M, P11 CRYPTOCURRENCY Karnataka HC gives boost to tobacco, don’t blame it only UIDAI does well to crack down on Airtel Payments Bank for abusing Aadhaar BREXIT No systemic risk from bitcoins yet, says Sebi chief Tyagi EDITORIAL INTERNATIONAL, P16 EU negotiator Barnier seeks to end transition no later than end-2020 MUMBAI, THURSDAY, DECEMBER 21, 2017 WWW.FINANCIALEXPRESS.COM FOLLOW US ON TWITTER & FACEBOOK. APP AVAILABLE ON APP STORE & PLAYSTORE READ TO LEAD VOLUME XXXXXV NO. 236, 20 PAGES, `6.00 P U B L I S H E D F R O M : A H M E D A B A D , B E N G A L U R U , C H A N D I G A R H , C H E N N A I , H Y D E R A B A D , K O C H I , K O L K ATA , L U C K N O W, M U M B A I , N E W D E L H I , P U N E SENSEX: 33,777.38 ▼ 59.36 NIFTY: 10,444.20 ▼ 19.00 NIKKEI 225: 22,891.72 ▲ 23.72 HANG SENG: 29,234.09 ▼ 19.57 `/$: 64.12 ▼ 0.08 `/€: 75.93 ▼ 0.30 BRENT: $63.94 ▲ $0.14 GOLD: `28,630.00 ▲ `1.00 GROWTH IN TAXABLE INCOME EXPRESS PHOTO: ABHINAV SAHA Individuals outpace corporates, others FIVE INDIVIDUALS IN the country reported an annual salary incomeabove`100crore,11others had such income in the `50-100 crore range and 58 persons earned `25-50 crore from salary in FY15 (assessment year 201516).This was when salary income — the largest source among individual taxpayers — was shown as nil by a substantial 54% of the 4.07crorepeoplewhofiledtaxreturns in theyear. For a comparison, none reported salaryincome higherthan `100 crore in FY12. During that year, six persons declared salary income of `50-100 crore and another23 reported to have earned `25-50 crore from salaries; 60% of the 2.88 crore peoplewho filed tax returns in that year showed nil income from salaries. Ifearningsfromothersources 0.45 House property income 0.73 Short-term capital gains 0.85 Long-term capital gains 3.7 Other sources income 11.7 17.8 Assessment year 2015-16 (` lakh crore) Salary income SUMIT JHA New Delhi, December 20 Vice president M Venkaiah Naidu and Express Group chairman Viveck Goenka at the RNG Awards in Delhi. >`100 cr `50-100 cr 0 6 `25-50 cr 32 24 23 2 9 58 2 10 FY12 FY13 FY14 59.4 54.5 53.4 5 11 FY15 53.5 % of individuals filers declaring nil salary income like capital gains,business/interest/rental incomes are also included, 318 individuals had shown total taxable income of over`25 crore in FY15 compared with 196 in FY12. While the tax return statistics forFY15(AY16)releasedbythein- cometaxdepartmentonWednesdayindicatedagradualincreasein salaries at the lower end and relativelysteeperrisesatthetop,italso reflectedthestressintheindustry overthe last fewyears. Continued on Page 2 3 Brand value ($ m) 93 VIRAT KOHLI 1 Report on Page 2 ● EU COURT RULING ● DETERIORATING NUMBERS Brand value ($ m) 144 Reserve Bank of India puts ‘Uber is a Bank of India under PCA taxi service’ SHAH RUKH KHAN FE BUREAU Mumbai, December 20 RANVEER SINGH of India said in a notice to stock exchanges. UBER TECHNOLOGIES SUFFERED a defeat after the European Union’s top court ruled its ride-hailing service should be regulated as a transport company, a decision that could set a precedent for the burgeoning gig economy, reports Bloomberg. The EU’s Court of Justice on Wednesday said that the world’s most valuable startup should be regulated as a transport service when drivers aren’t professionals and theyare using their own vehicles Continued on Page 2 Report on Page 16 Source: Duff & Phelps THE RESERVE BANK of India (RBI) has placed Bank of India under its ‘prompt corrective action’(PCA) framework due to the bank’s high non-performing assets (NPAs), insufficient common equity tier 1 capital (CET 1) and negative return on assets (ROA),the Mumbai-based public sectorlendersaid onWednesday. The decision was taken consequent to the onsite inspection underthe risk-based supervision model carried out forFY17,Bank DEEPIKA PADUKONE Report on Page 6 Returned (taxable) income stood at `29.5 lakh cr after setting off total loss of `1.56 lakh cr, resulting in tax payable of `5.5 lakh cr Individuals' annual salary incomes Kohli, not Khan, tops list In the Duff & Phelps 2017 celebrity brand value rankings, Virat Kohli surpasses Shah Rukh Khan for the first time. Income reported by tax filers in FY15 Business income As many as 318 persons reported taxable income above `25 crore in FY15 compared with just 196 in FY12 ● TOP TEN CELEBRITY BRAND VALUES Bank of India Intra-day on BSE (`) 182 180 179 176 173 170 Prev. close: 181.35 174.20 Open Close 2 5 Brand value ($ m) 106 Brand value ($ m) 42 HRITHIK ROSHAN 7 Brand value ($ m) 38 ALIA BHATT 9 Brand value ($ m) 34 AKSHAY KUMAR 4 Brand value ($ m) 47 SALMAN KHAN 6 Brand value ($ m) 39 AMITABH BACHCHAN 8 Brand value ($ m) 36 VARUN DHAWAN 10 32 Brand value ($ m)
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