Gold and Silver rates as on April 1, 2011 (Mumbai) : Standard Gold Rs. 20,775; Pure Gold Rs. 20,875; Silver Spot Rs. 56,900
State-owned Oriental Bank of Commerce (OBC) today launched the Income Tax payment facility through ATMs for their customers. The process of income tax payment through ATMs is user friendly and would lead to higher compliance by spreading the tax net to cover individual taxpayers resulting in higher Direct Tax revenues, Revenue Secretary Sunil Mitra said after launching the facility here.
Leading India Inc representatives today made a strong plea to the Reserve Bank to review its rate tightening policy, saying the high cost of credit is having an adverse impact on growth. Quoting a recent study, industry body FICCI’s Vice-President and HSBC’s Country Head, Naina Lal Kidwai, said a majority of firms feel inflation and successive rate hikes in the key monetary variables “have started having a bearing on the industry’s performance.”
Reliance ADAG Chairman Anil Ambani today faced a Parliamentary committee which quizzed him on his company’s stakes in Swan Telecom and other aspects related to the 2G spectrum allocation to which he responded ‘freely’ but evaded replies on some contending the matter was sub-judice.
Amid increasing cases of tax evasion, frauds and corruption, Indian government on Tuesday announced it would revamp its nodal economic intelligence agency. President Pratibha Patil has sanctioned the constitution of a committee that will make recommendation to restructure the Central Economic Intelligence Bureau (CEIB), the finance ministry said in a statement.
The Finance Bill 2010-11 provided for creation of a corpus called National Clean Energy Fund to invest in entrepreneurial ventures and research in the field of clean energy technologies. Subsequent to the budget announcement, the Central Board of Excise & Customs (CBEC) issued a notification dated June 22, 2010 to notify the Clean Energy Cess Rules, 2010.
PARIS — The global recovery is taking root, despite the recent earthquake in Japan, helped primarily by better conditions for companies and improving labor markets, an international economic organization said Tuesday as it bumped up its growth forecasts. Growth in the Group of 7 industrialized economies, excluding Japan, should rise to an annualized rate of about 3 percent by the middle of this year, from about 2 percent at the end of 2010, the Organization for Economic Cooperation and Development said in an interim update to its annual economic report.
The Supreme Court today ordered the Central Board of Direct Taxes (CBDT) to maintain status quo on its demand for Rs 617 crore income tax from Satyam Computer, while asking for a list of the actual liabilities of the scam-h IT information technology (IT) firm. A three-judge bench headed by Chief Justice S H Kapadia directed the CBDT to submit a chart by Friday showing the actual income and tax liabilities of Satyam Computer, now known as Mahindra Satyam.
The Placement Cell of the ICSI is organizing a Campus Placement for the fresher Company Secretaries on Saturday, the 9th April, 2011 at NOIDA office of ICSI, C-37,Sector 62, NOIDA-201301. Members admitted on or after 1st December 2010 are eligible to participate.
The CBI today registered the ninth case in its probe of alleged corruption during Commonwealth Games naming seven senior engineers of CPWD and DDA for allegedly inflating cost of laying of synthetic turf as it carried out searches at 20 locations across the NCR. Besides these officials, a sports equipment providing company Jubilee Sports Private Limited which had got the contract for laying of synthetic turf for Lawn Bowl event during the Games has also been named in the case, official sources said.
