TIA NEWS Finance Minister Arun Jaitley has said that the government will soon take a decision on the Justice AP Shah Committee’s report on applicability of the Minimum Alternate Tax, MAT, on foreign investors. MAT is a way of making companies pay the minimum amount of tax. Mr. Jaitley said that the government would examine, … Continue reading Decision on Shah Committee’s report on Minimum Alternate Tax on foreign investors soon
Seven Indian companies are among the world’s 500 largest companies, according to a list compiled by Fortune Magazine that has been topped by retail giant Walmart. The Indian companies on the 2015 Fortune Global 500 list are Indian Oil ranked 119 on the list with revenues of about 74 billion US dollars, followed by Reliance … Continue reading 7 Indian firms among world’s 500 largest companies: Fortune
Suspecting tax evasion of at least 5,000 to 6,000 crore rupees, Securities and Exchange Board of India (SEBI) has clamped down on a large number of organised syndicates who had set up shops to convert black money into legitimate-looking funds through the stock market platform. Sebi Chairman UK Sinha said in Mumbai yesterday that the … Continue reading SEBI bans more than 900 firms suspected to be platforms for tax evasion
Greece has taken a crucial step towards a huge new bailout for the country’s stricken economy after its parliament passed a crucial second batch of reforms. The passage of the measures means that negotiations on an 86 billion euro European Union bailout can begin. The reforms include changes to Greek banking and an overhaul of … Continue reading Greece takes crucial step towards new bailout
Government Wednesday criticised Congress for its dissent note in Select Committee report on GST Bill and accused it of being anti- development. Talking to reporters outside Parliament, Finance Minister Arun Jaitely said Congress dissent note is against its own bill and and hoped the opposition party will reconsider its what he called irresponsible decision. Mr. … Continue reading Government criticises Congress for giving dissent note on GST Bill
AMN / Government has proposed to transfer fertilizer subsidy directly into farmers’ accounts. However, a major challenge in operationalising this scheme lies in identification of beneficiary farmers. An official release said, in many states the land records are neither accurate nor updated. Department of Fertilizers is planning to have a phased approach and prepare a … Continue reading Direct transfer of fertiliser subsidy into farmers’ accounts
AMN / The New Development Bank (NDB) floated by the BRICS nations, to step up infrastructure funding in the emerging economies formally started its operations at its headquarters in Shanghai today. Chinese Finance Minister Lou Jiwei, Shanghai Mayor Yang Xiong and the bank’s President K V Kamath attended the opening ceremony. Kamath will be the … Continue reading BRICS bank starts operations from Shanghai
Greece has begun to repay its debt it owed to the International Monetary Fund, IMF and the European Central Bank, ECB. IMF spokesman Gerry Rice announced last night that Greece was no longer in default on its loans after remitting about two billion Euros to make up for its missed debt payments. He further said … Continue reading Greece begins repaying its debt to IMF, ECB
Greek banks are reopening after three weeks of closures sparked by the deadlock over the country’s debt. While banks throwing open their doors marks the return of some normality to the Greek economy, long-term problems remain. Unemployment is stubbornly high and Greece’s recession is comparable to one of history’s most famous economic crashes. Athens reached … Continue reading Greek banks reopen after three-weeks closure
The Income Tax department has launched an ambitious drive to bring under one crore new taxpayers at its net. This follows government’s recent directive to the taxman to achieve the target within current fiscal. As part of government’s initiative to broaden the tax base, the Central Board of Direct Taxes (CBDT this week activated all … Continue reading IT Dept to bring one crore new taxpayers in net
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AMN India has given a fresh set of papers to the UK in the extradition case of businessman Vijay Mallya. Ex ...