The Finance Ministry may introduce a proposal in Budget 2008-09 to allow urban cooperative banks to get tax deductions up to a specified limit for the amount they set aside as provisions for bad loans.
All FIPB records will now be digitised; old and unnecessary files will be weeded out
Under this scheme, North Block may waive both interest and penalty for defaulters and an announcement to this effect is expected in Budget 2008-09 due next month, according to a senior finance ministry source.
The finance ministry is expected to announce the abolition of tax deducted at source (TDS) on corporate bonds in Budget 2008-09, official sources told Business Standard.
The repolling started at 7 am amid tight security with four central forces personnel deployed in each booth, besides state police. Till 11 am, 10.9 per cent voter turnout was recorded.
7/11: Home secy given evidence of Pak hand
The Reserve Bank of India may soon be given the job of both collecting and processing inflation data.
The implementation of the commodities transaction tax is likely to be delayed to the end of the year or even next year, thanks to the spiralling inflation and its political fallout.
North Block is concerned that when India is trying to attract more investment, putting up restrictions on audit firms could create an avoidable bad advertisement.
Ahead of a crucial meeting on Jammu and Kashmir, National Security Advisor Ajit Doval on Thursday met Union Home Minister Amit Shah and is believed to have discussed the security situation in the Union territory which has witnessed a spate of targeted killings since May 12.
Relations between the Mint Road and North Block have often been frosty, with the former's calls for lowering rates being the biggest point of difference
According to insiders, their lack of enthusiasm is showing on the ground. There is nothing to suggest that their enthusiasm will return in the final four phases of polling, observes N Sathiya Moorthy.
Unlike the finance ministry which takes a larger view, the commerce ministry only looks at exporters' interests.
The government started the crackdown against such YouTube channels for the first time in December last year using its emergency powers under the Information Technology Rules, 2021.
As India seems to be picking 'Bharat' at least in official communication, here are some interesting name changes.
Chanu had confessed that the 90kg lift had become somewhat of a mental block last year, ahead of the CWG.
The finance ministry is working on a Cabinet note for establishing a full-fledged Public Debt Management Office, officials told Business Standard.
Finance Ministry and Reserve Bank of India on Thursday sought to play down their differences in perception on interest rates.
ONGC Videsh Ltd (OVL) on Wednesday said its $5 billion bid to buy a stake in Kazakhastan's biggest oilfield has been blocked by the central Asian nation.
There are serious issues in the economy which need to be addressed
The big guys have access to funds overseas, and their cost of borrowing does not change at all. If anything, a tighter domestic monetary situation gives them a comparative advantage when it comes to the cost of borrowed funds.
The SEC, which held a meeting on Sunday evening, went through reports of vote-tampering and violence which affected polling in many places, and passed the order, an official said.
Officials in North Block are wondering if a new tax will be mooted again and whether that will pertain to foreign investments.
China has signalled that it will prevent India from assuming leadership of the Global South, observes Ambassador T P Sreenivasan.
