Public sector entities Life Insurance Corporation, UTI AMC, State Bank of India and Punjab National Bank are among the front-runners to become pension fund managers under the new pension system.
After the first day of listing, the exchanges put a price band of 20 per cent for the movement of the stock prices. However, the level of circuit filter proposed for IPOs on the first day of listing is not known.
Jaipur's corporate tax collection shot up to 158 per cent. In comparison, tax collections for the whole country grew 44.7 per cent during the year.
While there is little chance of a reduction in this limit, the central bank is now insisting on a certificate from chartered accountants on the end-use of the funds borrowed.
As they feel that the rupee may depreciate to 43.75 levels over the next six months.
The tax burden on foreign banks , which avail of funds from their parents for operations in India, may go up substantially following a recent order passed by the Mumbai Income Tax tribunal in the case of UAE-based Mashreq Bank.
Seeks capital gains tax payment prior to FIPB clearance.
Sebi has directed the depositories to ask all the depository participants to examine the origin of accounts that did not comply with the requirement for Permanent Account Number.
The exchange rate policy has served us very well in the last so many years and the exchange rate has been commended all around, says RBI Governor Y V Reddy.
The move will partly offset the impact of foreign currency inflows on money supply.
The moves will reduce the administrative burden of the department, banks and taxpayers.
The Institute of Chartered Accountants of India has offered technical information for drafting the rules for valuing employee stock options for calculating the fringe benefit tax.
The issue has gained importance as a working group of International Organisation of Securities Commission (IOSCO) has been set up to study the impact of private equity funds on emerging markets.
Annual terrorism risk cover rates will drop 19 to 16 per cent from April 1 following improved claims experience and the withdrawal of premium tariffs on general insurance products like fire, engineering, and motor.
A national data centre of the income tax department will come up in the National Capital Region this year.
The National Bank for Agriculture and Rural Development, the apex financial institution for rural finance, will raise Rs 5,000 crore (Rs 50 billion) through capital gains bonds in financial year 2007-08.
The government will cut the central sales tax rate to 3 per cent from 4 per cent from April 1 through a notification, as announced by Finance Minister P Chidambaram in his Budget speech.
In a bid to reduce harassment of tax payers, the income-tax department is mulling setting up five centralised return processing centres in different parts of the country.
Market regulator asks bankers to use real time gross settlement system for IPOs.
These transactions are based on the Annual Information Reports (AIR) filed by entities like banks, mutual funds and companies.
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