New Delhi: Finance Minister P Chidambaram will inaugurate a two-day conference of top Income Tax department and CBDT officers later this month in the national capital and discuss efforts to maximise revenue collection. The annual conference of Chief Commissioners and Directors General of the I-T department will be held on May 28 and 29.
A host of challenges being faced by the department like illegal chit fund companies, ponzi schemes, issues of international taxation and non-intrusive and technology based surveillance are expected to be discussed during the meet.
Chidambaram, according to sources, is expected to deliver the inaugural speech at the conference which will also be attended by authorities from the Finance Ministry, Department of Revenue and the Central Board of Direct Taxes (CBDT), the apex body of the I-T department....
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09:55 AM, May 19, 2013
Washington: US President Barack Obama has forced the acting head of the Internal Revenue Service to resign amid furor over the tax agency's handling of conservative groups seeking tax-exempt status. "It's inexcusable, and Americans are right to be angry about it, and I am angry about it. I will not tolerate this kind of behaviour in any agency, but especially in the IRS, given the power that it has and...
01:59 PM, May 16, 2013
Network18 Media and Investments on Monday reported a 23.4 per cent rise in revenues to Rs 2400 crore for 2012-13, driven by strong growth in its broadcast and digital businesses. The strong topline growth helped narrow operating losses 87 per cent to Rs 39 crore for the year. Net loss for the year declined to Rs 105.5 crore from Rs 392.7 crore the year before. Revenues from the broadcast and...
05:33 PM, May 13, 2013
Network18 Group subsidiary TV18 Broadcast today reported a net profit of Rs 20.9 crore for the quarter ended March 31 as against a net loss of Rs 8.26 crore in the same period a year ago. Reported revenues for the television and motion pictures business (including IndiaCast) stood at Rs 474.7 crore for the quarter. For 2012-13, revenue stood at Rs 1,699.1 crore. It also swung into profit at operating...
03:55 PM, May 13, 2013
New York: Shares of Facebook Inc, which were given a boost last week when the social networking company reported first quarter results that largely met analysts' expectations, may be over valued, financial newspaper Barron's said on Sunday. Facebook closed at $28.31 on Friday, 60 per cent higher than last summer's low-point, but well below its initial public offering price of $38 last May. However, the company is probably worth no...
11:36 AM, May 06, 2013
For the third consecutive year, a girl Haritha V Kumar has topped the prestigious Civil Services Examination 2012. ...
09:45 AM, May 04, 2013
New Delhi: Ruchika Katyal, an IPS probationer, has achieved fifth rank in the prestigious Civil Services Examination. Katyal, a 2011-batch Arunachal Pradesh Goa Mizoram Union Territories (AGMUT) cadre probationary of Indian Police Service, is undergoing training at Sardar Vallabhbhai Patel National Police Academy in Hyderabad. She has been sent as an observer to poll-bound Karnataka. 26-year-old Katyal, who is also a Chartered Accountant, hails from Rohtak in Haryana and has...
08:22 AM, May 04, 2013
New Delhi: For the third consecutive year, a woman has topped the prestigious Civil Services Examination 2012. Haritha V Kumar, a probationer of Indian Revenue Service (Customs and Central Excise) 2011 batch, has made it to the top slot of the coveted exam, according to the results declared on Friday by the Union Public Service Commission (UPSC). The top position in General, Scheduled Tribe (ST) and Scheduled Caste (SC) have...
08:01 AM, May 04, 2013
New Delhi: Haritha V Kumar, who emerged topper in the All-India Civil Services Examination, initially did not believe it was true as she thought her friends had played a prank. "I did not believe that I got the first rank. My friends told me that I am the topper but I refused to believe. They dragged me and showed it to me on Internet and then only I believed them,"...
10:52 PM, May 03, 2013
California: Facebook Inc's mobile advertising revenue growth gained momentum in the first three months of the year as the social network sold more ads to users on smartphones and tablets, partially offsetting higher spending which weighed on profits. New types of ads designed for smartphones, particularly ads aimed at enticing Facebook users to install mobile apps on their phones, helped lift revenue while traffic to the social network remained strong....
01:37 PM, May 02, 2013
London: WikiLeaks has said it has secured a victory in Iceland's Supreme Court against the financial blockade imposed by Visa and MasterCard on donations for the secret-spilling site. Visa and MasterCard were among half a dozen major US financial firms to pull the plug on WikiLeaks following its decision to begin publishing about 250,000 US State Department cables in late 2010. WikiLeaks has claimed that the financial blockade led to...
06:54 AM, Apr 25, 2013
Seoul: Google's app store revenues are growing much faster than those of Apple Inc, but Apple still dominates overall sales, market research data taken from the first three months of the year shows. The app stores collectively raked in $2.2 billion in the first three months of 2013, according to Canalys, a market researcher. The firm says Apple's App Store generated $1.48 billion of revenue, accounting for 74 per cent...
12:38 PM, Apr 22, 2013
Patna: In another first in the country, tax collection in Bihar in the 2012-13 fiscal jumped to 29 per cent, Deputy Chief Minister Sushil Kumar Modi said on Saturday. "The achievement becomes all the more impressive considering that the world was witnessing an economic slowdown," Modi, also the Finance minister, told a review meeting of the commercial tax department in Patna. Other states registered a growth rate of 16-17 per...
12:30 AM, Apr 14, 2013
Panaji: Casinos, a key attraction for tourists visiting Goa, contributed a healthy Rs 135.45 crore to the state government's coffers in fiscal 2012-13. According to official figures, casino industry paid Rs 135.45 crore in the form of various taxes, including entertainment, entry, liquor licences and port charges (from casino vessels anchored off the state's coast). The revenue was collected by four different departments of the Goa government. The revenue collection...
12:40 PM, Apr 13, 2013
Mumbai: IT major Infosys on Friday reported a 3.3 per cent increase in its consolidated net profit to Rs 2,394 crore for the fourth quarter ended March 31, 2013. The revenues for the reported quarter were up 18.09 per cent to Rs 10,454 crore from Rs 8,852 crore in the year-ago period, Infosys said in a BSE filing. "Global economic uncertainties remain challenging for the IT industry," Infosys CEO and...
09:07 AM, Apr 12, 2013
Shimla: Government auditor CAG has found revenue loss of Rs 1,569.41 crore in Himachal Pradesh due to under assessment and short levy during financial year 2011-12. There has also been an increase of 13 per cent in revenue collections in 2011-2012 and the state also received Rs 1,998.37 crore as its share of divisible union taxes, the Comptroller and Auditor General's (CAG's) report tabled in the Vidhan Sabha by Chief...
12:38 AM, Apr 10, 2013
Twitter will generate nearly $1 billion in ad revenue next year due to a surge in mobile advertising on its Web microblogging service, according to a report released on Wednesday. ...
10:43 AM, Mar 28, 2013
As many as 1448 complaints relating to corruption have been received in the past one year in Haryana, state Lokayukta Justice (Retd) Pritam Pal said in Chandigarh on Sunday. ...
02:50 AM, Mar 25, 2013
The recent CBI raids on DMK leader and M Karunanidhi's son MK Stalin revealed an elaborate smuggling scam amounting to a Rs 50 crore tax evasion. The incident caused huge political ruckus in New Delhi. While no illegal car was found in the DMK leader's house, the CBI did recover several vehicles from others - notably N Srinivasan. ...
07:58 AM, Mar 23, 2013
Finnish mobile phone maker Nokia has for the second consecutive year reported decline in annual revenue from India business to Euro 2,227 million last year, on account of increasing competition and currency fluctuation. ...
12:42 PM, Mar 17, 2013
