Vodafone's long-pending tax dispute with the government might be heading for a resolution, with the finance ministry considering changing the Income-Tax Act's retrospective amendment and taxing indirect transfer of assets prospectively from 2012, the year the law was clarified.
ONGC takes Reliance to court, alleging years of stealing from its offshore block and a sleeping govt, right after it was agreed there would be a probe by experts.
This will add to the woes of the conglomerate that had received a show-cause notice from the Directorate of Revenue Intelligence (DRI) last week for alleged over-valuation of imported machinery by Rs 2,000 crore.
The company is looking to invest more than $3 bn over the next three years.
Under new government, tax office to explore ways to reduce disputes.
A decision by P Chidambaram in his last days as finance minister has annoyed the revenue department.
Indirect tax collections saw only a meagre 3.5 per cent growth, as mop-up from Customs fell sharply on account of a drop in imports.
Many ministries couldn't use the allocated funds since it came into force, resulting in much-needed savings.
A tax reforms panel, headed by finance minister's advisor Parthasarathi Shome, is considering moving away from setting fixed tax-collection targets and linking these with the changing economic scenario during the year.
Earlier this week, the ministry had come out with a clarification, saying domestic gas producers had to stick to the earlier price of $4.2 a unit until a further notification from the new government.
The US has been widely criticised for using pressure tactics to secure information from other countries, without reciprocity.
Two key depts in ministry cold to rationale for one; postal dept says it's more eligible than IDFC or Bandhan, feels 'strong lobby' scuttling its plans.
Generally,profit of a partnership firm is divided among its partners in sync with their partnership deal.
If the EC decides to put on hold a gas price revision for RIL, it would set a precedent for pricing decisions of the government and policy decisions taken but undergoing procedural delays.
FY14 sees 16% decline in adjustments; department adds only Rs 59,000 crore to the profits attributed by multinationals, against Rs 70,000 crore a year ago
The government appointed panel will look at the difficulties consumers faced in receiving the subsidy after buying gas cylinders at market rates.
Delhi High Court quashes reassessment proceedings by Income Tax department.
Govt notification on $8.4 a unit price likely by month-end
The RBI needs to maintain a healthy contingency reserve so that it can lend its support in case of a bank failure.
Gas price hike seems to be a distant dream for Reliance Industries and its partners--Niko Resources and BP.
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