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08/02/2010 : Corporate tax cut not likely in Budget 2010-11
The government may not tinker with the corporate tax rates in the Budget 2010-11 despite pressure from India Inc to slash rates or at least do away with surcharge and cess. Read full Story The Times Of India February 8,2010
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08/02/2010 : RBI ready to free all lending rates
In a game-changing move for the Indian financial sector, the Reserve Bank of India (RBI) is set to deregulate all lending rates in the next fiscal year, starting in April. Read full Story Live Mint February 8,2010
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08/02/2010 : HUL Wins Gen Y back
A sharply-focused human resource strategy aimed at winning back Gen Y has ensured Hindustan Unilever is ‘Dream Company No. 1’ among management graduates in India’s top 20 business schools, three years after students relegated the ‘fuddy-duddy’ consumer goods maker to the bottom of their most preferred employers’ list. Read full Story The Economic Times February 8,2010
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08/02/2010 : GST to be levied at 16%, goods to cost less for consumers
The long-awaited reform of India's indirect taxes system is set to get a major fillip, with a broad consensus forming within the finance ministry on a rate of 16% for the proposed Goods and Services Tax (GST) for both Centre and states combined. Read full Story The Times Of India February 8,2010
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08/02/2010 : Centre advocates single rate of CGST, SGST
As is now well known, the Empowered Committee of State Finance Minister (EC) had, in November 2009, issued a First Discussion Paper (Paper) on the dual Goods and Service Tax (GST). Read full Story Business Standard February 8,2010
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08/02/2010 : Rajasthan HC ruling on rent arrears irks SC
A Rajasthan High Court ruling, giving retrospective effect of the special provision for assessing arrears of rent provided under section 25 B of the Income Tax Act, has irked the Supreme Court. Read full Story The Economic Times February 8,2010
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08/02/2010 : Tax on royalty, technical services need scaling down
Existing Income-tax Act provides that income earned by a non resident by way of ‘Royalty’ or ‘Fees for Technical Services’ (FTS) shall be charged to income tax at 10 per cent. Read full Story Business Standard February 8,2010
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08/02/2010 : HC quashes govt order, restores tax exemption to educational institutions
The Punjab and Haryana High Court has quashed the order of the Chief Income Tax Commissioner, Chandigarh, in which he had withdrawn the tax exemption granted to educational institutions in December 2008 on grounds that they were generating surplus revenue. Read full Story Indian Express February 8,2010
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08/02/2010 : Interest-free loans to foreign arms may be taxed
Interest-free loans by an Indian company to its overseas subsidiary or an associate enterprise can attract tax in India, according to a recent verdict by the Delhi Income-Tax Appellate Tribunal (ITAT), in the case of software company Perot Systems TSI (India). Read full Story The Economic Times February 8,2010
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06/02/2010 : You can do National Electronics Funds Transfer deals till 7 pm
RBI has widened the scope of the National Electronics Funds Transfer (NEFT) for small-ticket online settlements by extending the transaction timings and facilitating speedier settlements. Read full Story The Economic Times February 6,2010
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06/02/2010 : ‘Teaser rates must apply to existing loans’
RBI Deputy Governor KC Chakrabarty has once asked banks to charge a uniform rate of interest on home loans for both new as well as existing borrowers. Read full Story The Economic Times February 6,2010
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06/02/2010 : FDI norm may be relaxed
As part of its efforts to liberalise the foreign direct investment (FDI) policy, the government has mooted a proposal under which foreign investments of over Rs 1,200 crore would need the clearance of the Cabinet Committee on Economic Affairs (CCEA). Read full Story The Times Of India February 6,2010
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06/02/2010 : Corporate loan to be costlier
Interest rates are likely to remain stable, but as liquidity dries up banks may hike the lending rates of short-term loans to companies, which are often 'mis-priced', a top central bank official said on Friday. Read full Story The Times Of India February 6,2010
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06/02/2010 : Jewellery traders seek changes in DTC provision
Gems and Jewellery Federation (GJF), the apex industry body for jewellery trade in the country has sought changes in the Search & Seizure provisions of the Direct Taxes Code (DTC) on the grounds that it is penalising to an industry which is already reeling under the effects of global recession. Read full Story Business Standard February 6,2010
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06/02/2010 : Your ringtone may soon ring in more tax for state govt
The state revenue department has recommended that entertainment tax be levied on services like mobile ringtones, caller tunes and mobile music. Cybercafes and video theatres are also likely to be brought within the ambit of entertainment tax. Read full Story The Times Of India February 6,2010
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06/02/2010 : Civic panel imposes 11 per cent service tax hike
Even as the common man is facing the heat of the ever-rising inflation, the standing committee of the Pune Municipal Corporation on Friday decided to impose 11 per cent hike in service tax structure. Read full Story The Times Of India February 6,2010
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