In China, I will attend the BRICS Leaders Meeting in Sanya being hosted by President Hu Jintao. This is the third Summit of the BRICS grouping since the first stand alone meeting in 2009. This meeting will see the participation for the first time of South Africa. India welcomes South Africa’s membership of BRICS, which will provide an African perspective to our deliberations.
The Jammu and Kashmir government has detected 3,045 cases of evasion of tax by various trade and business houses in the state in 2009-10.Revealing this in its report on state finances for the year ended March 31, 2010, Comptroller and Auditor General (CAG) of India has said that 2,357 cases of evasion of tax were detected by the Commercial Tax Department and 688 cases of evasion of tax were detected by Passenger Tax Department in 2009-10.
Ahead of the meeting between Prime Minister Manmohan Singh and Chinese President Hu Jintao, India today said trade imbalance in favour of China was a matter of concern and India had sought greater market access to bridge it. The issue is expected to come up during the talks between Singh and Hu tomorrow in the Chinese resort of Sanya on the sidelines of Brazil-Russia-India-China-South Africa (BRICS) Summit.
The Reserve Bank has imposed penalty of Rs 1 lakh each on two Gujarat-based cooperative sector lenders for violation of various rules, including anti-money laundering guidelines. The two banks are — the Surat-headquartered Rander People’s Co-operative Bank and Vadodara-based Shree Mahalaxmi Mercantile Co-operative Bank, the apex bank said yesterday.
The Department of Post is working on providing details of parcels received by its by its international partners or sent through it to international destinations. “As part of mail tracking systems introduced by us, we will add details of parcels held by customs on our website. Received by us from international partners or send by us to international destinations,” Radhika Doraiswamy, secretary, Department of Post told PTI.
Amid controversy over leakage of telephonic conversations involving top industrialists, corporate lobbyist Niira Radia and others, the Finance Ministry has asked the DoT to enquire into the conduct of telecom operators and identify individuals involved in it. DoT (Department of Telecom) will have to conduct a further enquiry to establish leakage of the telephonic intercepts in the end of telecom service providers, to identify actual individuals who are involved in this,” Finance Ministry said in a communication to Telecom Secretary R Chandrashekhar.
Finance Ministry will hold annual performance review of public sector banks here on April 26 to evaluate various aspects including non-performing assets and financial inclusion. The meeting will chaired by Financial Services Secretary S K Sharma instead of the usual practice of Finance Minister conducting bankers meet.
The government has decided to issue biometric PAN cards to taxpayers across the country to weed out the problem of duplicate and fake ones. The decision was taken recently by the Finance Ministry and it comes in the wake of a Comptroller and Auditor General (CAG) report that asked the Income Tax department to ensure that a single tax payer is not issued multiple cards.
The Department of Industrial Policy and Promotion (DIPP) issued a Discussion Paper on Compulsory Licencing of Patents in August 2010. The Department received 38 responses. Ten of these responses were received from stakeholders based in countries outside India including Thailand, South Africa, USA , UK and Japan. Eleven responses were received from pharma manufacturers associations, and business promotions councils/chambers. Fourteen were received from other stakeholders including academics and NGOs.
The income tax department Monday raided the prestigious Lilavati Hospital here that is frequented by VVIPs, officials said. The raids began at around 9 a.m. in the hospital and the office of the trust which manages it, both located in the same premises in Bandra west. The hospital, worth an estimated Rs.7 billion, is at the centre of a bitter family feud.
