A tax authority has ruled that Mauritius-based companies will have not have to pay capital gains tax in the country, a decision that will encourage global business entities to route investment from the island nation.
Satyam Computer chairman B Ramalinga Raju can face seven years' imprisonment in addition to monetary penalties for forging accounts, breach of trust and misappropriating funds.
Many of the legal outfits, which provide consultancy services to corporates that include drafting merger and acquisition agreements, preparing MoUs, rendering advice etc, operate as sole proprietorships.
Although the government has come out with a fiscal stimulus package to boost industrial growth and economy, it is unlikely to have perceptible impact in the short run and raise business confidence, which has led to layoffs, partial and complete closure of plants and termination of joint ventures, especially those involving foreign partners.
Old is gold discovers Rediff.com's Hitesh Harisinghani.
Marking an end to his tenure as St Stephen's principal, the college will on Sunday bid farewell to Valson Thampu who referred to himself as "controversy's child".
Besides opening up the possibility of a policy that allows vintage cars retrofitted with electric batteries to ply on roads, this also gives a clue to how cars older than 15 years that are banned can be valued again by a similar conversion to EVs, says Ritwik Sharma.
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