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

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,”

FICCI has urged the Government to defer the date of implementation of compliance with IFRS (International Financial Reporting Standards) by India Inc. from April 1, 2011 to a date when companies are better equipped to deal with the new envisaged acco

A day after stating that lobbying and public relations were part of a democratic set-up, corporate affairs minister Salman Khurshid said the government might explore whether corporate lobbying could be included under the Right to Information (RTI) Ac

The Union Revenue Secretary, Mr Sunil Mitra, said here on Tuesday that domestic tax policy would gradually move towards treaty override and introduce measures against aggressive tax planning and tax avoidance. Addressing a FICCI function here, Mr Mit

Banking and financial services companies the led corporate pack as advance tax payments for July –September grew by about 14 per cent, tax department sources said. Mortgage finance major HDFC paid about Rs. 400 crore as advance tax for the quarter, w

With the economic reforms that were initiated during the 80s and were further given a new direction in the current decade, the Indian corporate sector has been growing at a rapid pace and has become increasingly integrated with the global economy. While the last decade of the previous millennium had witnessed large scale investments by foreign companies in India,

The cost of doing business in India could come down if the dividend distribution tax (DDT) levied on foreign shareholders is replaced with a withholding tax as under the current system, apex chamber Ficci has said. According to the chamber, foreign shareholders are unable to claim credit in the home country for DDT paid in India, resulting in a higher effective tax rate.

India today said it would next month initiate discussion on liberalising Foreign Direct Investment in sectors ranging from defence to agriculture and even retail — a source of political woes for the government in the past. The Department of Industrial Policy and Promotion (DIPP), the nodal agency for framing FDI policies, will come out with six discussion papers in mid-May on overseas investment norms.

Although, the proposal is for setting up all twenty IIITs in Public Private Partnership (PPP) mode, since industry participation may not be forthcoming in some States like in the North East, it is proposed that IIITs in the North East may be set up by the Central Government with contributions from Ministry of Development of North Eastern Region (DONER).