india inc

Worried over the impact of global financial turmoil on the economy, India Inc today asked the finance ministry to retain tax rates at existing levels, but increase exemption limits to promote growth. In their customary pre-Budget meeting with finance minister Pranab Mukherjee, industry leaders also demanded that healthcare services should be kept outside the ambit of service tax and minimum alternate tax (MAT) be rationalised. Full Article

India Inc raised over $ 2.06 billion from overseas markets in April through external commercial borrowings (ECBs) and foreign currency convertible bonds (FCCBs), the Reserve Bank said. Around 55 companies raised over $ 1.54 billion for various projects through the automatic route, which does not require RBI or the government approval. Another $ 520 million were raised through the approval route, according to the RBI data. Full Article

CBDT has also lauded the Mumbai IT department on April 19, which released a book aimed at plugging tax avoidance or evasion techniques by India Inc. The CBDT has further indicated that pending corporate refunds are no longer a matter of concern. Full Article

Corporate law firm AZB & Partners has been the most active legal advisor for both private equity and M&A deals in 2010, while Ernst & Young was the most active transaction advisor, says a research study. "AZB advised a total of 90 trans Full Article

With less than six months to go before the nation moves towards a globally-recognised accounting system, the government plans to dilute some key provisions relating to foreign exchange differences and overseas borrowings which will make global invest Full Article

Fearing that the government may soon make a company promoter liable for mistakes even though they are not actively a part of the board’s decision-making process, India Inc has asked the ministry of corporate affairs to reconsider the relevant proposa Full Article

India Inc on Tuesday asked Finance Minister Pranab Mukherjee to introduce Goods and Services Tax "as early as possible", amid speculations that the indirect tax reform may not be implemented from the scheduled date of April 1. "We want that the GST deadline should not be missed," Ficci president Harsh Pati Singhania told reporters after a pre-budget meeting with Finance Minister Pranab Mukherjee along with other industrialists here on Tuesday. Full Article

The ice freezing waves of recession had frozen the prospects of Indian industrial growth after September 2008.Indian industries have to cut short production, rescheduling the production, stopped investments in new projects and finally followed the gate of retrenchments. No vacancy was the song being played on the streets of Indian corporate houses. Full Article