The government is proposing to keep the new company legislation flexible so that rules and regulations governing companies can be updated quickly without following the cumbersome procedure of amendment through Parliament.
Suspecting foul play in the crashing of stock markets over the past few months, Sebi is probing at least 25 entities, including brokerage firms, FIIs and mutual funds.
The Bombay Stock Exchange (BSE) plans to introduce pre-opening trade in IPO stocks on the day of listing, a practice that is currently only permitted for Sensex stocks and 20 other large cap counters.
Racing to maximise its revenue before the end of this fiscal, the government has asked all Chief Commissioners of Income Tax in the country to ensure collection of over Rs 1150 crore of unpaid taxes in a week’s time.
The government is likely to take a decision in the next few days on the proposal to lift ban on exports of onion and wheat in view of their bumper production. The empowered group of ministers (EGoM) on food, headed by Finance Minister Paranab Mukherj
The government is considering tightening taxation norms for Indian companies having intermediary holding entities in overseas locations, as part of its efforts to increase its tax revenues.
Switzerland is willing to share information on Indians holding secret bank accounts there as part of New Delhi’s effort to bring back an estimated $1.4 trillion black money in tax havens abroad, the country’s envoy Philippe Welti has said.We now have an agreement with the Government of India. Under it if the government sends us a request, we will comply and provide the necessary information, which is asked of us, Welti told media in an interview.
The Centre on Thursday assured the Supreme Court that it would reveal the names of persons, who have stashed black money in foreign banks after registering a formal case against them. Solicitor General Gopal Subramanium, appearing before a bench head
Black money parked in tax havens abroad will be taxable income under the Direct Taxes Code Bill, the Centre told the Supreme Court on Wednesday, spelling out a host of measures to retrieve it. The government also informed the apex court that it has completed negotiations for Tax Informations Exchange Agreement with 10 countries where the money is believed to have been stashed.
While expressing disappointment at the low 1.6 per cent industrial output growth during December, Finance Minister Pranab Mukherjee said on Friday monthly numbers do not reflect correct picture of the economy. “IIP numbers are very unfortunate and it
