sectors

The Central Board of Direct Taxes (CBDT) is in a fix over the application of one safe harbour rate to all sectors. A committee, formed last month to frame safe harbour rules as announced in the 2009-10 Budget to minimise transfer pricing disputes, has estimated that there is a huge difference in the margins of companies which would come under the ambit of safe harbour. Full Article

Indian demand for steel consumption is increasing in the coming days. We get proof of the putting when we analyzed and found that steel players like JSW Steel and Essar Steel are increasing their focus on opening up more retail outlets pan India with growth in domestic demand. JSW Steel currently has 50 such steel retail outlets called JSW Shoppe and is targeting to increase it to 200 by March 2010. They expect at least 10-15%of their total production to be sold by their.. Full Article

In view of large increase in credit to the Commercial Real Estate (CRE) sector over the last one year and the extent of restructured advances in this sector, it would be prudent to build cushion against likely non-performing assets (NPAs). Accordingly, it has now been decided to increase the provisioning requirement for advances to the CRE sector classified as ‘standard assets’ from the present level of 0.40 per cent to 1.00 per cent. Full Article

Rupee Export Credit Interest Rates RBI/2009-10/ 157 , Ref.: UBD.CO.BPD.Cir. No. 1/13.05.000/ 2009-10 Dated:-September 16, 2009 Rupee Export Credit Interest Rates Please refer to our circular UBD.PCB.Cir. No. 3/13.05.000/ 2008-09 dated June 18, 2009 on the captioned subject regarding extension of interest subvention of 2 percentage points w.e.f. June 1, 2009 till September 30, 2009 on [...] Full Article