The finance ministry is expected to announce a performance-based incentive scheme for bank chairmen on Tuesday.
This follows an Authority for Advance Ruling (AAR) decision, which directed that payments made by an Indian subscriber for using a portal of a foreign company will be subject to deduction of tax at source.
Price ceiling on the day a company's scrip is first listed on the cards.
The Bombay Stock Exchange may longer enjoy the exclusivity over the reporting platform for the corporate bond market
The Reserve Bank of India has opposed the government's move to bring in a law to introduce a new reporting system for inward flow of foreign contributions.
The finance ministry has finalised the top-level reshuffle in public sector banks.
The Central Board of Direct Taxes has sought a clear definition of the term 'permanent establishment' for assessment of tax payable by foreign entities in India. Currently, the Act defines a 'permanent establishment' as a fixed place of business.
The Income-Tax department will have a say in mergers, demergers and amalgamations in 2006-07, with the Registrar of Companies (RoC) referring the first set of cases for clearance to the department.
Sources said Finance Minister P Chidambaram might make an announcement in this connection in Budget 2007-08, as part of his overall strategy for raising long-term finance for infrastructure.
The government is planning a slew of amendments to the Securities and Exchange Board of India (Sebi) Act in the forthcoming Budget session.
The amendment now makes it compulsory for corporate PF trusts to comply with the Employees Provident and Miscellaneous Provisions Act, 1952, and to claim exemptions under Section 17 of the same Act.
A day after the finance ministry cut import duties on a variety of product categories, top manufacturers of zinc -- Hindustan Zinc and Binani Zinc -- slashed prices.
A major reshuffle in the top brass of nationalised banks is on the cards, with the finance ministry's banking division scheduled to hold interviews for the posts of five chairpersons on January 24.
In a major development on taxation of FII income, the Authority on Advance Ruling has ruled that income will now be taxed as capital gains and not business income.
According to market sources, it has been observed that most companies are filing claims under short-term capital gains, irrespective of the volume of transactions.
The Bombay Stock Exchange is learnt to have shortlisted London, Nasdaq, Deutsche Borse, New York, and Singapore stock exchanges for the proposed sale of its 26 per cent stake.
At present, the service tax rate stands at 12 per cent. Added to this is a 2 per cent education cess, bringing the incidence to 12.24 per cent.
Funding from banks for capital market players has become highly restrictive with the recent squeeze in liquidity and the interest rates charged have also sharply increased.
To increase the deposit base, the banking industry is likely to press for restoration of tax exemption on interest income, increase in ceiling for tax deduction at source
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