The private companies want a level playing field so that they can compete with the government companies in fuel retailing.
The finance ministry has proposed to remove from the guidelines a clause on the lateral movement of small and mid-sized banks' heads to large banks.
About two million tonnes (mt) of condensates produced by the oil company were taken into account while apportioning the subsidy burden.
The Enforcement Directorate (ED) is proposing a penalty on German sportswear giant Adidas' subsidiary Reebok India for alleged violations of the Foreign Exchange Management Act (Fema).
Oil firms yet to get Rs 18,000 crore (Rs 18 billion) of FY12 subsidy compensation, as estimate for this year's underrecovery swells past Budget allocation.
Prime Minister Manmohan Singh seems to be sitting on the proposal, while requests continue to flow in from states to add more names to the delegation.
Says invest Rs 1.2 lakh cr or offer special dividend or give surplus cash back.
As finance ministry officials remained glued to news flashes on the LCD screens in their rooms, others were constantly monitoring news on the web. The support staff got its share of the news feed by keeping a close watch on politicians visiting North Block, reports Vrishti Beniwal
From second homes and AC rail travel to private tutors, astrologers and marriage-makers come under the tax net
The finance ministry has asked state-run general insurers to increase premiums on health insurance, motor and other policies, and refrain from undercutting each other to get new business.
FDI cap may remain intact at 26% as Cabinet takes up legislation this week.
Tax amount of Rs 10-15 crore may be the threshold above which rule could be invoked
After the enactment of retrospective amendments to the Income Tax Act next month, the government may ask Vodafone to pay in excess of Rs 20,000 crore (Rs 200 billion) -- more than two and half times the tax amount the telecom major was "advised to withhold" on its $11-billion deal with Hutchison in 2007.
RIL on Friday declared a net profit of Rs 20,040 crore (Rs 200.4 billion) for the 2011-12, a marginal drop from the Rs 20,286 crore (Rs 202.86 billion) it made in 2010-11.
A finance ministry official said Vodafone had threatened arbitration against something that had not happened. He said the UK-based telecom company was presuming it might happen.
Higher online filing of returns that is expected in the ongoing financial year will enable faster processing of claims and hence a further increase in refunds.
To ensure its financial inclusion drive is not restricted to meeting branch opening targets, the Union finance ministry is to ask banks for a performance report of the 'ultra small' branches set up in the past two years in about 73,000 villages.
The last week of March saw a series of new refining capacity going on stream. HPCL-Mittal Energy, Essar Oil and Mangalore Refinery & Petrochemicals (MRPL) were able to announce completion of capacity additions a couple of days before the seven-year tax holiday in this regard came to an end, on March 31.
A senior income tax department official in the know of the discussions to have taken place in the finance ministry said the ministry was looking into the issue as a possible option.
The next time Amitabh Bachchan hosts Kaun Bangea Crorepati or Sachin Tendulkar hits a ton in an Indian Premier League match, the taxmen may come knocking on their doors.
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