Students appearing for May 2011 Professional Competence Course (PCC), Integrated Professional Competence Course (IPCC) and Final examinations may note that due to unavoidable circumstances, the Palakad Examination Centre has been changed from Government Victoria College, Palakkad to Government Moyan Model Girls Higher Secondary School, Palakkad. The admit card already issued to the students remains unchanged and valid for the new examination centre. Inconvenience caused in the matter is deeply regretted.
The Supreme Court today banned the employment of children in circuses and directed the government to rescue children employed in the sector and formulate a rehabilitation programme for them. A bench headed by Justice Dalveer Bhandari said that in order to protect the fundamental rights of children, it is imperative that the government issues notification to prohibit employment of children in this sector.
A top Income Tax official has said that the diamond trade has one of the highest prevalence of black money, with investigations revealing that books in the sector are “completely manufactured”. “(In) certain areas like real estate or diamond trade there is a lot of circulation of black money…but in the case of diamond merchants, the books are completely manufactured,” Director General of Income Tax (Investigations) B P Gaur told reporters here late last evening.
Finance Ministry is likely to finalise the proposed changes in the takeover code on mergers and acquisitions after a meeting with industry and other stakeholders tomorrow. The Takeover Regulations Advisory Committee chaired by Chief Economic Advisor Kaushik Basu will discuss the amendments in the code as proposed by the C Achuthan headed Sebi panel, a Finance Ministry official said.
In a significant order, the Bombay High Court has held that the Union Government cannot ban exports of any product with retrospective effect, while allowing a private company to go ahead with exports of milk powder. It also said that such restriction cannot be applied to concluded contracts where letters of credit were opened prior to the imposition of the ban.
The Supreme Court will decide whether the interest paid on overdues to the Department of Telecom (DoT) can be treated as operating expenditure by operators. A three-judge bench has admitted a petition filed by Vodafone Essar Gujarat and decided to adjudicate whether such interest could be treated as operating expenditure.
Terming cooperatives as one of the strongest pillars of Indian agriculture, Farm Minister Sharad Pawar today said he has asked Finance Minister Pranab Mukherjee to consider income tax exemption to Indian cooperatives. “I have written a letter to the Finance Minister to look into the issue of I-T exemption to cooperative societies,” Pawar said at a national level meeting with the state cooperative ministers here.
The income tax department will soon post 10 of its officers in tax haven nations to collect information about alleged tax evasion by Indians from these countries, an official in the finance ministry said. Concerns have been raised in the recent past over suspicion of round tripping or routing of Indians’ illicit money back into the country through tax havens.
Amid concerns expressed by the Reserve Bank of India, the country’s largest lender State Bank of India on Wednesday announced withdrawal of special home loan schemes, or teaser rates, with effect from May 1. SBI Easy Home Loan and SBI Advantage Home Loan (teaser rate products) will be replaced by floating interest rate schemes on par with other commercial banks.
The Cabinet Committee on Infrastructure today approved the following proposals : Scheme of National Rollout of e-District Mission Mode Project at a cost of Rs 1663.08 crore to be implemented in all 640 districts (including the 41 districts where e-District Pilot Projects have already been initiated) of the country for a period of 4 years. Approval for an outlay of Rs 1663.08 crore spread over years 2011-2012 to 2014-2015 with an expenditure of Rs 541.22 crore in the Eleventh Five Year Plan and of Rs 1121.86 crore in the 12th Five Year Plan.
