"August, 2011" Archive - Page 59

Sibal to convert 1.5 lakh Post Offices into banks

The humble post office is all set to undergo a radical change with a proposal to convert over 1.5 lakh post offices across the nation into full fledged banks on the anvil. Telecom Minister Kapil Sibal wants to reach out to the masses in the rural areas with modern banking facilities through the post offices....

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Posted Under: Finance |

Former Additional Commissioner of Income Tax gets four years RI

A special court here has awarded four years of rigorous imprisonment(RI) and a fine of Rs 35 lakh to the former Income Tax officer B S Banthia for amassing wealth disproportionate to his known sources of income. The sentence was awarded by the Special Judge (CBI) Shailendra Shukla against Banthia yesterday. The court also awarded two year...

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Posted Under: Finance |

Sebi askes stock exchanges to penalise brokers transferring trades from one trading account to another after terming them as 'punching' errors

With an aim to check flow ofblack money and evasion of taxes through stock market, market regulator Sebi has decided to imposehefty penalty on brokers facilitating such transactions from tomorrow. The regulator recently came across a loophole in its existing regulations, which was being abused by stock brokers for facilitatingtax evasion ...

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Posted Under: Finance |

PMO Explains 'At Arms Length'

Reports have appeared in the media regarding a noting of the Private Secretary to the Prime Minister conveying the directions of the Prime Minister on a matter relating to the allocation of spectrum. The noting in question was recorded on 23 January, 2008 and stated that 'PM wants this informally shared with the Department (of Telecom). (...

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Posted Under: Finance |

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