cii

The upheaval in domestic markets that followed the US economic downgrade notwithstanding, RBI on Friday said the liquidity in the Indian banking system was not under stress and the central bank was monitoring the situation closely. Full Article

CBDT has vide Notification No. 35/2011 In exercise of the powers conferred by clause (v) of explanation to section 48 of the Act, CBDT has notified 785 as the cost inflation index, in respect of computation of gains arising on the transfer of long term capital asset. The said inflation index is applicable for financial year 2011-12. Full Article

Various taxes relating to real estate should be rationalised for affordable housing projects in order to tackle the rapid pace of urbanisation in the Indian cities, according to a survey conducted by accountancy firm Grant Thornton and CII. In view of the phenomenal pace of urbanisation, residential real estate ought to be made affordable to accommodate the ever-increasing immigration into our urban centres, Grant Thornton India National Managing Partner Vishesh C Chandi.. Full Article

Industry body CII today said competition watchdog CCI's approval should not be made mandatory for mergers and amalgamations between group companies. While acquisitions of control or shares or voting rights or assets within the same group have been exempted from the notification requirement, mergers or amalgamations have not been specified, which appears to be an oversight, CII said in a statement. Full Article

The Reserve Bank will announce draft guidelines for giving new banking licences in the next few days, the Finance Ministry today said. "RBI will come up with the guidelines by the end of this month," Department of Economic Affairs Secretary R Gopalan told reporters on the sidelines of a CII function. Full Article

Industry chamber CII today called for the government to provide tax incentives on agricultural activities in the forthcoming Budget to encourage private participation and adoption of new technologies in the sector. "CII has recommended encouraging p Full Article

Many people have articulated about the possible ill-effects of the proposed introduction of IFRS in India but such dissenting voices are muffled in the said euphoric din by those who neither understand nor bother to understand the implications. IFRS Full Article

The government will stick to its April 1 deadline for 300 large companies to align their accounts with global financial reporting norms, despite concerns raised by an industry lobby. “India will have to honour the commitment made at the G20 summit,” Full Article