Budget 2007 is expected to introduce major changes in non-resident taxation, partly aimed at making it easier for foreign companies to do business in India and encouraging greater investment inflows.
The finance ministry has finalised the top-level reshuffle in public sector banks.
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 finance ministry is likely to raise the exemption limit for service tax from Rs 400,000 to Rs 10 lakh (Rs 1 million) in the forthcoming Budget.
3-tier spectrum allocation policy to curb inefficient use.
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.
Even as Left parties have demanded a review of the tax concessions provided to SEZs, the DoT has sought extension of excise duty exemptions to industrial units set up in telecom-specific SEZs.
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.
The power ministry has submitted a draft Cabinet note proposing to modify the 1995 mega power policy to allow a more flexible system of private participation in distribution through a franchisee model.
The Department of Telecom has asked the Group of Ministers on telecom spectrum to direct the Ministry of Defence to immediately release 20 Mhz spectrum in the 1,800 Mhz band for mobile phone operators.
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.
Reliance Communications has sought government approval for sponsoring a secondary Global Depository Receipts offering of up to $1.2 billion, representing 6.53 per cent of the total paid-up equity shares of the company.
The Telecom Commission is considering imposing fines of Rs 400 crore (Rs 4 billion) on seven telecom service providers for delay in commissioning of services. A note for this purpose was put up for consideration last month.
The government is mulling a policy for developing hydro-power capacity, under which projects, possibly of 2,000-3,000 Mw each, would be drawn up and offered to private and public sector developers.
The Ruias are contemplating approaching the Ministry of Company Affairs for its views on the Right of First Refusal (RoFR) clause in their shareholders' agreement with Hutchison Telecom International Ltd (HTIL).
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.
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
The free pricing regime in the general insurance industry has come into force, with the Insurance Regulatory and Development Authority clearing all the revised rates filed by general insurers.
Congress president Sonia Gandhi and Prime Minister Manmohan Singh will not be able to attend the annual World Economic Forum meeting to be held at Davos from January 24-28 next year.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances