Ravi Kapoor, head of global banking at Citi India tells that the success of the Centre's divestment programme hinges on attractive valuations
While saying money was due from Suzuki, the HC told the tax department to determine an appropriate arm's-length pricing mechanism in this case.
L&T plans to transfer the equity of L&T in their joint ventures with Mitsubishi Heavy Industries into L&T Power through a book transfer, if clauses for the re-tender remain the same, company executives told Business Standard.
In what could close the doors for import of Chinese equipment in power transmission, state-run Power Grid Corporation is making it mandatory for suppliers to have manufacturing facilities in India within three years. The company's board is likely to approve the proposal in its meeting on July 2.
The donations you make to religious bodies is not going to earn any tax exemptions, but the income of these entities will continue to get tax breaks, subject to certain exemptions.
Senior officials in the ministry told Business Standard the rate of taxation would remain the same in the final version of DTC.
At present, the threshold prescribed for imposition of Value Added Tax -- which will be abolished when GST comes into effect -- differs from state to state.
The government has once again tweaked the rules for selection of public sector banks chiefs.
Canada has decided to rope in its content solution company, OpenText, to do a 'Facebook' on the negotiators.
CRR is the proportion of deposits each bank must keep in the form of cash.
Redrafting the Direct Taxes Code is proving to be an uphill task for the finance ministry, bombarded with comments from various stakeholders. The Central Board of Direct Taxes has received about 10,000 suggestions on the code, which seeks to replace the Income Tax Act of 1961.
With the government making a distinction between the privately-run Reliance Natural Resources Ltd and the government-run NTPC Ltd in relation with the gas dispute with Reliance Industries Ltd, the ministry of power is likely to take up NTPC's case with the Empowered Group of Ministers.
The finance ministry has suggested forming a GST council, headed by the Union finance minister, to address disputes between the Centre and the states in the proposed GST regime.
With less than a year left for the scheduled introduction of the Goods and Services Tax (GST), most states have increased their VAT (value-added tax) rates. The move is seen as an attempt to extract better compensation from the Centre for loss on account of GST rollout
The annual Finance Bill may soon become far less exciting as the government plans to lift the veil of secrecy surrounding tax proposals in Budget. Once the Direct Taxes Code (DTC) and Goods and Services Tax (GST) are in place, the finance ministry will adopt a public discussion approach for most future decisions, while confining the annual exercise to a few procedural changes.
RNRL had sought 28 mscmd of gas for 17 years at $2.34 per million British thermal units (mBtu) from Mukesh Ambani's RIL.
The Union finance ministry may have to battle it out in court with the sponsors of the Indian Premier League cricket tournament to make them comply with its service tax payment demands.
With recent issues from state-run companies receiving lukewarm response from the markets, the government has downscaled its divestment programme this year, restricting it to a maximum of eight companies.
After failing to convince states to keep petroleum products within the ambit of the proposed goods and services tax (GST), the Centre has finally relented. It has agreed to the proposal of the empowered committee of state finance ministers to keep petroleum products like crude, motor spirit, aviation turbine fuel (ATF) and high-speed diesel out of GST.
A senior official in the finance ministry said the Central Board of Direct Taxes addressed the nine areas of concern in the Code identified by Finance Minister Pranab Mukherjee.
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