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.
Top companies added employees at 3% CAGR from 2003-04 to 2013-14, while revenues grew at 18%.
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.
Components manufactured in India are low-value products like casing and box packaging that constitute 5% of the bill for materials required in phone manufacturing.
The US has been widely criticised for using pressure tactics to secure information from other countries, without reciprocity.
Removal of mark-ups to be paid by Maruti, other changes could raise funding need to Rs 6,000 crore.
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.
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
Delhi High Court quashes reassessment proceedings by Income Tax department.
LIC is one of the largest Indian shareholders in the country's largest car maker, with a 6.93% stake.
The RBI needs to maintain a healthy contingency reserve so that it can lend its support in case of a bank failure.
Docomo is looking to expand its reach beyond Japan and sees India and Africa as key emerging markets.
The Finance Ministry is of the opinion that Vodafone might drag its tax dispute to court.
The government managed to raise revenues by sending notices to high net individuals to did not file I-T returns last year.
The Finance Ministry has asked top rung exectives of United bank of India to furnish bad loan recovery report on daily basis.
