The price of petrol breached a three-year high on Monday at Rs 74.50 a litre, while the price of diesel was at its highest at Rs 65.75 a litre
The code, which will replace the existing Income Tax Act 1961, aims to rationalise tax rates to bring more people and companies under the tax net.
Opportunities will also stem from the clear support for generics.
Allowing 12-hour shifts for all and night-time work for women was meant to benefit software firms, but is said to have clinched Foxconn's Rs 80 billion investment.
The bill would prohibit unaccounted money from being pumped into the sector and as now 70 per cent of the money has to be deposited in bank accounts through cheques.
Telcos in line of fire over call drops, inflated bills
From the enactment of the capital control Act to the recognition of the BSE as a stock exchange and the infamous Harshad Mehta scam, here are the 18 biggest events for stock markets from 1947 to 1993.
The CBI has filed a fresh case against absconding diamantaire Mehul Choksi, wanted along with his nephew Nirav Modi in a loan fraud case of Rs 13,500 crore, for allegedly inflating the value of diamonds and jewellery pledged to get Rs 25 crore loan from IFCI, officials said on Monday. The CBI has booked Mehul Choksi, his company Gitanjali Gems and valuers Surajmal Lallu Bhai and Co, Narendra Jhaveri, Pradip C Shah and Shrenik Shah, they said. The central agency has acted on a complaint from Industrial Finance Corporation of India (IFCI) Ltd alleging that Choksi had approached it in 2016 seeking Rs 25 crore working capital loan for which he had pledged shares and gold and diamond jewellery.
You telephone bills will become cheaper if the finance minister P Chidambaram heeds to the telecom operators' demand for a reduction in levies.
As the Centre pushes reforms in the power sector, especially for the beleaguered electricity distribution segment, several states, especially those ruled by Opposition parties, are clamouring against it. Maharashtra, West Bengal, Tamil Nadu, and Kerela have voiced their reservations against the proposed amendments to the Electricity Act, 2003. The irony is the states opposing the amendments on the ground of threat of privatisation already have private partnerships in power supply. The proposed Bill was slated to be placed on the floor of Parliament in the Monsoon session. But it still awaits Cabinet approval amid several states complaining that they have been not consulted on the issue.
Any delay in passing the coal bill may cause a crisis in the coal sector which would also affect the power sector.
The ministry of company affairs (MCA) intends to insert a clause in the Companies Act that will make audit firms also liable to prosecution as against the existing provisions that limits penal action only to chartered accountants.
"A committee is working on it. We have also asked the MCA (Ministry of Corporate Affairs) to broaden the scope of section 55 of Companies Act 1956 which is now clause 22 of Companies Bill," SEBI Executive Director Usha Narayanan said at an Assocham event in New Delhi.
US Senate may not pass the new bill, which sought to prevent Indian companies from posting their employees on clients' location in that country, according to Congressman Jay Inslee.
The CBI has booked an ITBP commandant and his two subordinates for alleged corruption in purchase of heating oil and other items for an outpost at Indo-China LAC in Uttarakhand, officials said Tuesday.
Sanjib Jha, CEO, Coverfox Insurance Broking answers your health insurance related queries.
Says sector has grievance redress mechanism.
Clarity to help operationalise the controversial FDI policy of 2009.
Centre, with states, to change methodology of calculating domestic power rates, set standards for consumer tariffs
Ashok Kumar Gupta, chairman of the Competition Commission of India (CCI), has never minced words while talking about the giant technology companies, referring to them on multiple occasions as "centres for entrenched and unchecked dominance". The anti-trust regulator has, in fact, been cracking down on big technology companies such as Google, Apple, Facebook, and others, after they were hauled up by regulators and lawmakers in Europe and Australia. However, in several instances, existing regulations have prevented the CCI from going all out against these companies for anti-competitive activities.
Soon, one will be able to pay utility bills at the local supermarket, while buying groceries, with the RBI allowing the setting up of payment banks.
A comprehensive Bill on insurance sector is likely to be introduced in the winter session of Parliament, Union Finance Minister P Chidambaram said on Friday. \n
Tata Group-owned Air India has informed the Centre that aircraft lessors wish to set up their special purpose vehicles (SPVs) outside India since they aren't enthused about the Indian 'legal structure' and are loath to take risks. Indian airlines have a combined fleet of about 700 planes; over 85 per cent are on lease. A majority of lessors are based in Ireland due to its attractive tax policy, light-touch regulations, and swift legal system.
"The government has taken several steps to protect interests of investors. The Companies Bill, 2009, which is before the Parliamentary Standing Committee, has allowed Class Action Suit for the first time in the country," corporate affairs minister Salman Khurshid said in the Lok Sabha.
The companies' underrecoveries stood at a whopping Rs 1,39,869 crore last financial year. Of that, Rs 62,837 crore was accounted for by diesel alone.
Jairam Ramesh, architect of the UPA's 2011 land acquisition bill, reacts to Amit Shah's interview to Rediff.com in which he defended the NDA government's land bill ordinance.
S Somasegar, senior vice president, Microsoft Corporation, shares his experiences of having worked closely with Bill Gates.
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Day 6 of Parliament's monsoon session 2020. Watch all the action in both houses LIVE here.
Gates has sold 20 mn shares each quarter under a pre-set trading plan
A group of six US lawmakers had recently introduced 'The US Call Center and Consumer Protection Act of 2013' in the Congress that requires overseas call centre employees to disclose their location to US consumers.
The Life Insurance Corporation of India has the wherewithal to acquire a composite license, a top source aware of the development told Business Standard, adding that the insurance behemoth may look into entering the health and general insurance segments. "LIC has the scale, capacity, IT infrastructure, and the distribution reach to take advantage of the composite license. "LIC is looking at organic as well as inorganic growth opportunities.
Instead of enhancing the sum insured of your basic policy, a more cost-effective option is buying a super top-up policy.
A Delhi consumer forum has asked telecom operator Idea Cellular Ltd to pay Rs 10,000 to a person as compensation for giving a bill inflated by Rs 3.50.
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