There seems to be no end to criticism for the economic policies by the Manmohan Singh government as the UPA-II completes three years in power. CNN-IBN's Smitha Nair spoke to Forbes Magazine CEO Steve Forbes and he claimed that the government has made errors at many levels. Following is an excerpt from the interview with Steve Forbes: Smitha Nair: Do you think the Manmohan government has shifted the goal post...
08:06 AM, May 22, 2012
New York: A published report says Apple Inc. uses subsidiaries in Ireland, the Netherlands and other low-tax nations as part of a strategy that enables the technology giant to cut its global tax bill by billions of dollars every year. The New York Times on Sunday outlined legal methods used by Cupertino, California-based Apple to avoid paying billions of dollars in federal and state taxes. One approach highlighted in the...
10:54 AM, May 01, 2012
Indore: Civil Aviation Minister Ajit Singh on Saturday said state taxes on aviation turbine fuel (ATF) should come down as high jet fuel prices are impacting fares of the airlines struggling with high costs and fierce competition. "ATF costs have risen 8 to 9 per cent in March, and it will impact the air fares," Singh told reporters, after inaugurating the integrated airport terminal, built at the cost of Rs...
12:39 AM, Apr 15, 2012
Indore: Civil Aviation Minister Ajit Singh on Saturday said state taxes on aviation turbine fuel (ATF) should come down as high jet fuel prices are impacting fares of the airlines struggling with high costs and fierce competition. "ATF costs have risen 8 to 9 per cent in March, and it would impact the air fares," Singh said after inaugurating the integrated airport terminal, built at the cost of Rs 135...
07:34 PM, Apr 14, 2012
Mumbai: International trade associations representing more than 250,000 companies have written to Prime Minister Manmohan Singh criticising new taxation proposals and warning that investment plans by overseas companies could be reconsidered. India's budget last month outlined proposals that would allow authorities to make retroactive tax claims on overseas deals and bring in new anti-tax-avoidance measures, moves that have been criticised for further denting investor sentiment towards India. "The sudden and...
12:00 PM, Apr 02, 2012
New Delhi: India's businesses, already facing high interest rates and a global economic slowdown, worry that the finance ministry will ask them to shoulder a bigger tax burden in the budget set for release on Friday to trim the fiscal deficit. After a drubbing in recent state elections, the Government has little room to cut subsidies costing 2.5 per cent of GDP. But without fiscal consolidation, the Reserve Bank of...
08:44 AM, Mar 16, 2012
New Delhi: Finance Minister Pranab Mukherjee is all set to present the Union Budget in Parliament on Friday. This will be his seventh and it comes against the backdrop of slowing growth and burgeoning fiscal deficit. The government will have to do a balancing act, by raising taxes and at the same time giving incentives to boost investor confidence. A balancing act is needed in a bid to spur growth....
07:29 AM, Mar 16, 2012
New Delhi: Money does not grow on a tree nor does it fall from the sky. But most of our hard earned money goes in paying taxes. America's founding father Benjamin Franklin once said, "Nothing is certain in life but death and taxes". And high taxes certainly choke us every day. Brinda Mathur runs a PR firm. It's the start of a brand new week for her and she does...
08:44 AM, Mar 15, 2012
New Delhi: Ahead of the Budget, a key Parliamentary panel scrutinising the Direct Taxes Code (DTC) is likely to recommend raising of income tax exemption limit to Rs 3 lakh and tax breaks on investments to Rs 2.5 lakh. "There is a consensus among the members that annual tax exemption limit be raised to Rs 3 lakh," sources said after the meeting of the Parliamentary Standing Committee on Finance chaired...
04:56 PM, Feb 24, 2012
New Delhi: Cash-strapped Kingfisher Airlines has to pay Rs 40 crore dues in indirect taxes by March 31, Central Baord of Excise and Customs (CBEC) Chairman SK Goel said on Wednesday. The beleaguered airline has been in a financial mess and is unable be meet its obligations. "Kingfisher had an outstanding (service) tax dues of Rs 70 crore and the company had promised to pay in installments," Goel said on...
07:37 PM, Feb 22, 2012
New Delhi Finance Minister Pranab Mukherjee on Wednesday expressed hope that indirect tax collection target of Rs 3.92 lakh crore for the current fiscal will be met despite the economic slowdown. "I am confident that the department (Central Board of Excise and Customs) would not spare any effort in meeting the target. In fact, already indications are there (of meeting budget estimate)," Mukherjee said while speaking at a ceremony to...
02:21 PM, Feb 22, 2012
Chennai: The Tamil Nadu government on Tuesday announced it would fully computerise the activities of its commercial taxes department at an outlay of Rs 230.96 crore to provide transparent governance as well as improve tax compliance. In a statement issued here, Chief Minister J. Jayalalithaa has ordered computerisation of all activities of the commercial taxes department owing to the growing number of transactions and also improve its productivity. Presently only...
02:33 PM, Jan 17, 2012
New Delhi: Finance Minister Pranab Mukherjee will start pre-Budget consultations with various stakeholders from Wednesday. The first meeting is with agriculturalists. It will be followed by a series of interactions with sectoral experts, industry captains and economists over the next three weeks to get their feedback and inputs for considering incorporation in Budget 2012-13. Mukherjee is slated to meet trade union leaders on January 16. Social sector related groups will...
02:24 AM, Jan 11, 2012
New Delhi: Finance Minister Pranab Mukherjee will start pre-Budget consultations with various stakeholders from Wednesday. The first meeting is with agriculturalists. It will be followed by a series of interactions with sectoral experts, industry captains and economists over the next three weeks to get their feedback and inputs for considering incorporation in Budget 2012-13. Mukherjee is slated to meet trade union leaders on January 16. Social sector related groups will...
09:43 PM, Jan 10, 2012
New Delhi: In order to guard against possible leakage of names figuring in the secret bank accounts lists it has received from foreign shores, the CBDT has ordered the IT department to obtain a signed undertaking from any government entity or department who demands the data for their own probe. The Central Board of Direct Taxes (CBDT) fears that if these names are leaked and they are publicised, global financial...
12:30 PM, Jan 08, 2012
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Disclaimer: TV18 Broadcast Limited is proposing, subject to market conditions and other considerations, an offer of its equity shares on rights basis and has filed a Draft Letter of Offer with the Securities and Exchange Board of India. The Draft Letter of Offer is available on the website of SEBI at www.sebi.gov.in and the websites of the Lead Managers at www.icicisecurities.com and www.rbs.in Investors should note that investment in equity shares involves a high degree of risk and are requested to refer to "Risk Factors" in the Draft Letter of Offer. The Equity Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act"), or any state securities laws in the United States and may not be offered or sold in the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the US Securities Act) except in a transaction exempt from the registration requirements of the US Securities Act and in accordance with any applicable U.S. state securities laws.
