The government is planning to relax the recent diktat of clubbing non-convertible, optionally convertible or partially convertible preference shares as External Commercial Borrowings for some companies.
Finance ministry backs chairman, may remove five govt-nominated independent directors
By passing on the information to income tax department, the regulator wants to send a clear signal that manipulation could prove to be costly.
With pressure mounting on 18 regional exchanges to demutualise, some bourses have decided to shut shop, while others are going in for demutualisation - leading to an eventual consolidation.
The ministry has sought information on posts for which regular recruitment is made; expected parameters for the said posts; subjects for tests; and training modules.
Objective of the examination is to study the tax implications of such deals.
The Reserve Bank of India is exploring the use of a dollar sell-buy swap to drain liquidity from the banking system, having used the most common instruments over the last two and a half years in its fight against inflation.
Move aimed at checking short-term inflow of foreign funds.
Besides Deepak Parekh, who heads financial institution HDFC, other committee members include key representatives of major banks and infrastructure finance institutions.
The Comptroller and Auditor General of India plans to focus on infrastructure companies and banks for special audit during the current financial year.
The government has exempted from service tax all services to foreign diplomatic missions and consular posts in India of official use.
In a sign that people are paying additional tax demanded by the government, the income-tax authorities collected Rs 90,500 crore (Rs 905 billion) under this head during 1996-2005.
To resume after six-year hiatus.
The Reserve Bank of India, which has already raised the cash reserve ratio (CRR) thrice since December last year, is contemplating another hike, though only on incremental deposits this time.
The funds are likely to be invested as per the interim investment guidelines, which may allow investment of 5 per cent in equity and 10 per cent in equity-linked mutual funds.
The government is reviewing norms for investments by foreign venture capital funds in real estate, after the Reserve Bank of India coming round to the view that such funding is helping create an asset bubble in the sector.
The government proposes to treat the investments by foreign institutional investors in pre initial public offers (IPOs) of real estate companies at par with foreign direct investment.
The online tax payment feature will be extended to all credit cards directly through the website www.incom-etaxindia.gov.in
A way to ensure good growth as private banks find organic growth tough.
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