In view of large increase in credit to the Commercial Real Estate (CRE) sector over the last one year and the extent of restructured advances in this sector, it would be prudent to build cushion against likely non-performing assets (NPAs). Accordingly, it has now been decided to increase the provisioning requirement for advances to the CRE sector classified as ‘standard assets’ from the present level of 0.40 per cent to 1.00 per cent.
The Supreme Court has decided to examine the issue of whether foreign law firms charging professional fees from Indian companies and businessmen are liable to pay income tax in the country. A bench headed by Justice S H Kapadia has issued notices to a London-based law firm on a petition filed by the Income Tax Department.
Tax defaulters beware. The income tax department is considering publishing the names of habitual tax defaulters with large tax demands pending. According to official sources, the department is planning to compile a list of all cases, where there is a tax demand of over Rs 1 crore with no pending appeals.
The finance minister could approve foreign investments of up to Rs 1,200 crore (Rs 12 billion), without going to the Cabinet, if a proposal of the Department of Industrial Policy and Promotion to fast-track clearance of foreign direct investment is accepted.
The commerce and industry ministry will review the growth of the country’s export sector by the middle of this month to assess the need for extending further stimulus for the exporting community, particularly, the labour-intensive sectors. The country’s exports have been declining ever since the fall of Lehman Brothers and the onset of the global economic downturn in September last year.
* Roll Numbers of candidates where no change in marks found click Here All these candidates are being intimated by post. * Roll Numbers of candidates where change in marks found but there is no change in result or exemption in applied papers found click Here Revised Mark Sheet is being sent.
Removing difficulties being faced by the students for successfully completing 100 Hours Information Technology Training before the commencement of May, 2010 Professional Competence Examination/Integrated Professional Competence Examination.
The Indian job market has not been as adversely affected by global recession as was being presumed, thanks to ‘job increase’ in the public sector, UPSC Chairman D P Agrawal said on Monday.He said the quantum of job loss witnessed in the private sector was made good by creation of more jobs in the public sector.
The regulator has decided to allow registered brokers (including trading members) of stock exchanges to provide security market access to their clients through authorised persons. The regulation follows the recommendations made by the Secondary Market Advisory Committee of Sebi and discussions with the stock exchanges.
The government is planning to permit corporate houses to set up higher educational institutions — like multi-disciplinary universities and colleges — by floating a separate not-for-profit entity under Section 25 of the Companies Act 1956.
