BP is apparently targeting a higher percentage of offshoring.
Venture capitalists and seed fund providers receive around 500-1,200 business plans every year. The trend continued even among the student fraternity. Venture firms such as Morpheus Venture Partners and Centre for Innovation, Incubation and Entrepreneurship that work closely with students and incubator centres have seen a spurt in activity.
The Central Board of Direct Taxes has advised its field formations to scrutinise all cases in which companies have amortised foreign exchange losses under the one-time discretion allowed by the government through an amendment to Accounting Standard 11 (AS-11).
With increased awareness and concern over unexpected events like the 26/11 terror attack on Mumbai, Ganesh mandals (organisers of the Ganapati festival) are seeking higher insurance cover. For instance, Mumbai's most popular mandal, Lalbaughcha Raja Ganesh Mandal, has bought insurance worth Rs 4 crore (Rs 40 million).
The ministry of company affairs (MCA) intends to insert a clause in the Companies Act that will make audit firms also liable to prosecution as against the existing provisions that limits penal action only to chartered accountants.
Mushrooming app stores are offering a huge 70 per cent revenue to developers.
In a major relief to over 3,000 companies all over India seeking arbitration in tax cases with the Settlement Commission, the Bombay High Court has termed as "unconstitutional" the government's decision to suggest a cut off date of March 31, 2008, for all cases filed before June 1,2007.
Experts believe it will take another three to five years for Indian IT firms to move to a non-linear business model.
Housing finance companies are currently regulated by NHB, which is, in turn, regulated by RBI. NHB is wholly-owned by RBI.
Authority for Advance Ruling dispenses with complex forex indexation requirement.
McKinsey, RBS postpone placements by three to six months
Looking to raise OMO limit, borrowing cap for primary dealers.
According to a web information company, Alexa, Google dominates the charts but Bing is already at 19th position with about 5 per cent of users from India accessing internet to visit Bing.
At the same time, banking sources close to the development said the central bank could raise its growth target from 5-6 per cent to 6.5 per cent to accommodate the impact of an improving monsoon and the growth impetus provided through various fiscal and monetary stimulus packages earlier in the year. The cautious outlook on interest rates is primarily to accommodate rising inflationary expectations in the economy.
The additional step is the result of a Reserve Bank of India's guideline issued this February that mandates additional authentications/verifications based on information about the card-holder that is not contained on the card. This measure is expected to contain online card fraud.
Client executives and relationship managers -- so far confined to the private sector and especially service providers -- have now made an entry into the tax department, too. Just like the relationship manager at your bank, the 'client executive' will coordinate all the tax requirements of a company, which could range from income tax to central excise and service tax.
In a bid to reduce costs and increased offshoring focus, Tata Consultancy Services, India's largest information technology company, has recalled close to 1,200 employees from the US and has decided not to hand out any salary increment this year.
'Our visit gives us an opportunity to understand the culture of the country.'
So far, VCs used to fund start-ups which either had product prototypes ready or had some customers on board.
Nitish Mittersain, founder of Nazara Technologies, is among the few entrepreneurs who have remained unflappable in the current economic crisis. Having set up Nazara, a mobile entertainment company, right at the time of the dotcom bust, Mittersain claims to have sufficient experience to withstand this financial downturn too.
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