Equities markets rally, Sensex ends 520 points upTimes of India - 27 minutes ago MUMBAI: Indian equities markets staged a rally on Thursday, with a key index shutting shop 520 points higher than its last closing figure. Sensex surges to closes above 15500; DLF, ICICI Bank gain Economic Times Buy infrastructure stocks on dip: Bhambwani Moneycontrol.com NDTV.com - Business Standard - Reuters India WPI falls, weak rains boost food prices Reuters India India and Asean sign trade dealBBC News - 54 minutes ago India and the 10-country South East Asian bloc Asean have signed a free trade agreement after more than six years of talks. Tariffs on electronics, chemicals, machinery and textiles will be reduced and eventually eliminated. India, ASEAN sign deal on free trade in goods Reuters India India signs free trade pact with ASEAN Press Trust of India GoM to study impact of jet fuel prices on aviation industryPress Trust of India - 2 hours ago New Delhi, Aug 13 (PTI) A Group of Ministers (GoM) would be set up soon to study the impact of high jet fuel prices on the aviation industry and recommend measures to bring down its burden on the operational costs of the airlines. Govt to form panel to address aviation crisis: Patel Hindustan Times Ministers panel to look into airline woes-aviation min Reuters India Rallis India gains 4% on stake saleBusiness Standard - 48 minutes ago Rallis India surged over 4% to Rs 768. The stock touched an intra-day high of Rs 815 and a low of Rs 762. The counter saw trades of around 76200 shares as against its two-week average traded quantity of 22452 shares. Rallis, Tata Chem could eventually be merged: Emkay Global Moneycontrol.com Tata Chem to increase stake in Rallis India Economic Times Airlines earnings outlook looks challenged: CAPALivemint - 14 minutes ago PTI New Delhi: With the focus of full service carriers like Air India, Jet Airways and Kingfisher Airlines shifting to low cost carrier (LCC) model, the "Indian airline earnings outlook looks increasingly challenged," according to an aviation ... Airlines carry more passengers but earn less Hindu Business Line Number of air passengers dips in January-July Economic Times PM to address CMs regarding drought situation on MondayIndian Express - 1 hour ago Prime Minister and the Chief Ministers will discuss the worsening agriculture scenario following inadequate rainfall. Concerned over drought conditions in several parts of the country, Prime Minister Manmohan Singh will address the Chief Ministers of ... PSL Ltd bags Rs 500-cr order from GAIL for pipeline projBusiness Standard - 42 minutes ago PTI / Mumbai August 13, 2009, 15:59 IST Pipe manufacturer PSL Ltd today said it has bagged an order worth around Rs 500 crore ($94 million) from GAIL India for supply of steel linepipe for the Dahej-Vijaipur Pipeline Upgradation Project (DVPL-II). PSL surges on bagging order worth Rs 500 cr Moneycontrol.com PSL gets Rs 500 cr order from Gail Hindu Business Line Eco downturn bottoming out, says US Federal ReserveBusiness Standard - 43 minutes ago PTI / Washington August 13, 2009, 16:08 IST Signalling that the worst of the economic crisis could well be over, the US Federal Reserve has said that the downturn is bottoming out and financial conditions in the country have improved in recent months. Everonn Systems soars on Rs 92cr orderBusiness Standard - 4 hours ago Everonn Systems surged nearly 7% to Rs 370. The stock touched an intra-day high of Rs 373 and a low of Rs 350. The counter clocked a two-fold increase in its volume of 411830 shares as compared to its two-week average traded quantity of 287676 shares. Everonn Systems bags order worth Rs 92cr; stk rises Moneycontrol.com L&T surges on Rs 4000cr deal with Jaypee GroupBusiness Standard - 1 hour ago L&T rallied over 5% to Rs 1495, after touching a high of Rs 1503. The counter clocked a volume of 419907 shares as against its two-week average traded quantity of 450252 shares. L&T signs contract with Jaypee Group, stock gains Moneycontrol.com L&T bags Rs 4000-cr Jaiprakash power plant order Hindu Business Line Pratibha Ind hits upper circuit on Rs 523cr contractBusiness Standard - 59 minutes ago Pratibha Industries zoomed 10% to close at its upper circuit limit of Rs 178. The counter witnessed a near five-fold increase in its total traded of 51462 shares as against its two-week average traded quantity of 10784 shares. Pratibha Industries bags contract worth Rs 523.4 cr Economic Times McKinsey report | Infra project delays may cost $200 bnLivemint - - 4 hours ago McKinsey and Co. has recently taken out a report says that executing infrastructure projects could cost $200 bn loss in GDP New Delhi: Tardy progress in awarding and executing infrastructure projects over the next nine years could cost India $200 ... Infra project delays may cost $200 bn: McKinsey Business Standard Uttam Galva, Bhushan Steel to outperform: DeshmukhMoneycontrol.com - 1 hour ago Akshata Deshmukh, Research Analyst, Asian Markets Securities is of the view that Uttam Galva, Bhushan Steel is going to outperform in the medium term on the Nifty. Galvanised steel makers raise prices again Business Standard NHPC may be listed by Sept first weekMoneycontrol.com - 7 hours ago Shares of NHPC, whose IPO closed on Wednesday, is expected to be listed by the first week of September, merchant bankers to the issue said. NHPC's IPO subscribed over 23 times Economic Times NHPC $1.25 bln IPO subscribed 23.5 times Reuters India Indian rupee stronger on share gains, firm Asian unitsReuters India - - 3 hours ago MUMBAI, Aug 13 (Reuters) - The partially convertible Indian INR=IN rupee was stronger on Thursday afternoon, buoyed by gains in local shares, which raised expectations for capital inflows, while higher regional peers also underpinned sentiment. Rupee slumps to 48.15 a USD Myiris.com Rupee at 48.46 against the dollar Economic Times Adlabs Films board approves to raise upto Rs 600cr; stk upMoneycontrol.com - 6 hours ago Adlabs Films touched an intraday high of Rs 325.95 and an intraday low of Rs 319.70. At 10:34 am, the share was quoting at Rs 322.15, up Rs 8.15, or 2.60%. ADAG firm Adlabs Films plans rights issue of up to Rs 600 cr Economic Times Adlabs Announces Rights Issue; To Raise Upto Rs600 Crore Reuters India MphasiS to acquire AIG armHindu - 13 hours ago CHENNAI: MphasiS, the Bangalore-based IT and business process outsourcing (BPO) company, is acquiring AIG Systems Solutions Pvt Ltd (AIGSS), an Indian captive back office arm of the insurance major, American International Group (AIG). MphasiS acquires AIG's captive unit Economic Times MphasiS buys AIG's Indian IT unit Indian Express Deora meets PM; apprises about the gas dispute caseHindu - 15 hours ago NEW DELHI: Days after having sent its comments on the gas dispute issue and on the points raised by Reliance Natural Resources Limited (RNRL) chairman, Anil Ambani, the Petroleum and Natural Gas Minister, Murli Deora on Wednesday met the Prime Minister ... Take RIL to SC, solicitor general tells NTPC Business Standard Deora meets PM, explains stand on Ambani row Times of India |
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Big tax cut coming your wayTimes of India - 16 hours ago The new direct taxes code, proposed to be implemented from April 2011, aims to moderate effective tax rates in the hope that this will encourage more people ... New Code promises lower direct tax rates Hindu Business Line FM to unveil direct tax code today Economic Times Quick Edit | Adam Smith's tax codeLivemint - 16 hours ago The draft direct tax code released on Wednesday is yet another advance for the Indian tax system. It matches in importance the proposed goods and services ... Direct Tax Code Bill: Highlights & Full ReportIndia Business Blog - - 1 hour ago Its not only individuals, its also India Inc. who should be extremely happy, the tax code bill released has not left them out – lot of goodies for them as ... FM proposes to tweak wealth taxTimes of India - 16 hours ago NEW DELHI: The proposed direct tax code makes major changes in the manner in which wealth tax is to be calculated and the rates applicable to it. ... Ushering in a new tax era Indian Express Taxes will be lower for high-income groupsDaily News & Analysis - - 13 hours ago The changes, which form part of Mukherjee's draft Direct Tax Code proposals, will replace the 48-year-old Income Tax Act, 1961. The code is up for ... CII welcomes new direct tax codeNewstrack India - 20 hours ago The Direct tax Code Bill and the Discussion paper released today is well within the deadline promised by the Finance Minister in his Budget speech on July 6 ... Good intentions have to be backed by implementationEconomic Times - 11 hours ago The FM kept his 45 days promise and released the much awaited Direct Tax Code for public debate. The thrust of the Code is simplicity– gone are the days of ... Nifty scales above 4550; realty,metals surgeEconomic Times - 5 hours ago The government on Wednesday unveiled the draft of a brand new direct tax law, which will replace the four-decade Income-Tax Act, "... to improve the ... Nifty trades above 4500 on +ve global cues; Unitech up 5% Moneycontrol.com Gap-up opening in the offingIndia Infoline.com - 7 hours ago The market is likely to welcome upbeat IIP data and the draft of the new Direct Tax Code, especially the scrapping of the STT. A few tax proposals (like the ... |
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Big tax cut coming your wayTimes of India - 16 hours ago NEW DELHI: Finance minister Pranab Mukherjee on Wednesday unveiled a roadmap for reforms in direct taxes that promises to drastically cut the tax liability ... FM ups direct tax target 8% Business Standard New Code promises lower direct tax rates Hindu Business Line FM to unveil direct tax code today Economic Times Stocks to watch: Reliance, Mphasis, Adlabs Films, Cairn India ...Economic Times - 4 hours ago The government on Wednesday unveiled the draft of a brand new direct tax law, which will replace the four-decade Income-Tax Act, "... to improve the ... Nifty scales above 4550; realty,metals surgeEconomic Times - 5 hours ago The government on Wednesday unveiled the draft of a brand new direct tax law, which will replace the four-decade Income-Tax Act, "... to improve the ... Nifty trades above 4500 on +ve global cues; Unitech up 5% Moneycontrol.com April-July direct tax receipts rise 3.27%Business Standard - Aug 10, 2009 There are about 33 million taxpayers in India. Likewise, there was 2.61 per cent growth in corporate taxes at Rs 42685 crore, against Rs 41598 crore in the ... Quick Edit | Adam Smith's tax codeLivemint - 16 hours ago The direct tax code will be one of the key steps in the next and necessary move to create a simple and stable tax system in India. ... Direct Tax Code Bill: Highlights & Full ReportIndia Business Blog - - 1 hour ago Its not only individuals, its also India Inc. who should be extremely happy, the tax code bill released has not left them out – lot of goodies for them as ... Apr-July direct tax receipts up 3.3 pcEconomic Times - Aug 10, 2009 NEW DELHI: India's April-July direct tax receipts were up 3.27 per cent from a year earlier to Rs 739.90 billion, the Central Board of Direct Taxes said in ... Good intentions have to be backed by implementationEconomic Times - 11 hours ago The FM kept his 45 days promise and released the much awaited Direct Tax Code for public debate. The thrust of the Code is simplicity– gone are the days of ... Union Budget 2009-2010: The Uncertainty ContinuesOrissadiary.com - 4 hours ago The Finance Minister has tried to achieve it without raising direct taxes. On the contrary tax relief has been proposed. In case of indirect taxes, the tax ... Arvind Singhal: Roti, mobile, gaadi aur necklace Business Standard |
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New Delhi, Aug. 12: The government today kick-started radical tax reforms by unveiling a draft tax code under which an individual will effectively not have to pay any tax on an income of up to Rs 4.6 lakh a year against Rs 2.7 lakh at present. The ceilings on tax-free income will be raised to Rs 4.9 lakh in the case of women and Rs 5.4 lakh in the case of senior citizens. The code proposes zero tax on an income of up to Rs 1.6 lakh but also provides for a tax deduction of up to Rs 3 lakh on bank fixed deposits and specified investments in small savings schemes, insurance and other savings instruments. Over and above the Rs 3 lakh ceiling, taxpayers can claim deductions for money spent on children's education, health insurance premia up to Rs 20,000 annually in the case of senior citizens (Rs 15,000 for the rest), medical treatment of up to Rs 60,000 annually for senior citizens (Rs 40,000 for the rest), and expenses up to Rs 1 lakh for disabled dependants. But there's bad news as well: there will be no tax break for buying an apartment (which qualifies at present for a tax benefit of Rs 1.5 lakh a year on interest payments). Moreover, withdrawals from retirement funds will no longer be exempt from tax. Salaried individuals may also feel the pinch since all perks will now be included in the definition of taxable salaries. Companies will have to pay tax at the rate of 25 per cent instead of an effective rate of almost 35 per cent at present. However, companies that pay minimum alternate tax (MAT) — a tax levied since 1997 on zero-tax companies — could face a big blow since the levy will now be charged on 2 per cent of their gross assets. Earlier, it was charged on 15 per cent of book profits. 2 years to kick in The changes have been proposed in a tax code that seeks to replace the 48-year-old Income-Tax Act. The code has been put in the public domain for discussion. It will come into effect in about two years after it is passed by Parliament with changes. Finance minister Pranab Mukherjee, who released the tax code along with his predecessor P. Chidambaram, said the bill could be tabled in Parliament in the winter session. "It's a simpler tax code and we expect it will usher in better compliance, better tax realisation and lead to far less litigation," Mukherjee added. Chidambaram said the tax code had been written from scratch and could be enacted by 2011, synchronising with the golden jubilee of the Income-Tax Act. The former finance minister had started work on the tax code three years ago. Wealth tax The ambit of wealth tax is being widened — and this could prove to be a huge blow to the super-rich. Wealth tax will be levied on a net wealth above Rs 50 crore instead of Rs 30 lakh at present but it will cover assets like shares. However, the wealth tax rate is being slashed from 1 per cent at present to 0.25 per cent. "This has been done to ensure better compliance," officials said. "Right now, it is a tax that everybody tries to avoid." Industry has been lobbying the government to scrap it since the government expects to raise only Rs 425 crore through wealth tax this year. The direct tax code will obviate the need to introduce a voluminous Finance Bill every year along with the budget — a tiresome rite that former finance minister Jaswant Singh railed against recently during the budget debate. However, tax amendments will still require sanction from Parliament. Political parties will be happy to learn that the new tax code allows tax deductions on campaign contributions by both individuals and companies, provided the donation amounts to 5 per cent of a person's income or the profits of a company.
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The draft Direct Taxes Code unveiled by Finance Minister Pranab Mukherjee yesterday proposes raising the tax exemption limit on savings to Rs three lakh.
"The limit for deduction for savings has been substantially increased to Rs three lakh," an official statement said on the new tax code, which has been put up for public comments.Save at work pay at retirement!
These direct tax proposals will come into effect once Parliament accords its approval. In a bid to promote savings DTC proposes exemption of Income Tax on savings up to Rs 3 lakh a year. Currently the deduction limit for all sorts of savings under 80 CC is Rs 1 lakh. If approved, the new tax regime, will not only provide relief to middle income salaried class but also immensely benefit people earning salaries beyond Rs 10 lakh per year.
The draft DTC, released by Finance Minister Pranab Mukherjee, proposes to exempt the general tax payer from paying Income Tax if his income is Rs 1.60 lakh in a year.
As per the proposal the general tax payer will pay just 10 per cent for income up to Rs 10 lakh, 20 per cent on income between Rs 10 lakh and Rs 25 lakh and 30 per cent beyond Rs 25 lakh. Currently he does not have to pay any tax on income up to Rs 1.60 lakh in a year. However, he pays 10 per cent on income ranging between Rs 1.60 lakh and Rs 3 lakh, 20 per cent between Rs 3 lakh and Rs 5 lakh and 30 per cent beyond Rs 5 lakh. But there is a rider on calculation of salary for computation of Income Tax. The DTC proposes that all perquisites will be taken into account while calculating salary income.
Though the DTC proposes to enhance deductions on savings up to Rs 3 lakh it prescribes Exempt- Exempt-Taxation (EET) method of taxation for all savings. It means at the time of withdrawal of money, subscribers to savings instruments like (Public Provident Fund), Government Provident Fund (GPF) and Employees Provident Fund (EPF) will have to pay tax.
Accumulated balances
However, the DTC provides that the withdrawal of any amount of accumulated balances as on March 31, 2011 in the account of the individual in the GPF, PPF and EPF will not be subject to tax.
In other words, only new contributions after the commencement of the DTC will be subject to the EET method of taxation. The DTC also proposes that retirement benefits will be exempted from tax if saved in Retirement Benefits Account. However, all withdrawals from the account would be taxed on the EET principle of taxation. Among several tax proposals for the corporate sector, it proposes effective corporate tax rate at 25 per cent while allowing all business losses to be carried forward for indefinite period. While rationalising taxation of capital gains, it proposes abolition of Securities Transaction Tax (STT). While proposing elimination of distinction between long term and short term capital gains recommends base year for calculation of capital gains shifted from April 1 1981 to April 1 2000.
http://www.deccanherald.com/content/19285/centre-proposes-tax-regime.html
The tax code makes radical changes in all areas of taxation: it lowers the incidence of tax on corporate and individual incomes but reintroduces wealth tax and capital gains tax, albeit at lower levels. It also proposes to bring a uniform pattern of taxation on all long-term savings in the form of EET—exempt at the stage of contribution, exempt during accumulation and taxed during withdrawal.
Releasing the draft direct taxes code, Mr Mukherjee said if a reasonable level of discussion happens on the code, a bill could be placed in the winter session of Parliament. The government is hoping to implement the new code from 2011.
Home minister P Chidambaram, who during his tenure as finance minister had initiated work on the Code and was intensely involved with its drafting, said this was a brand new Code written from scratch. Mr Chidambaram also said the underlying philosophy behind the Code is the philosophy of the government, which is wedded to a well-regulated free market system.
The code proposes to exempt income up to Rs 1,60,000 a year from tax. Income up to Rs 10 lakh will be taxed at 10%, 10-25 lakh at 20% and beyond Rs 25 lakh at 30%. Currently, there is no tax till Rs 1,60,000 of income in a year. However, there is a 10% tax on income between Rs 1,60,000 and Rs 3 lakh, 20% between Rs 3 lakh and Rs 5 lakh, and 30% beyond Rs 5 lakh.
But under the new tax law, an individual's gross salary would also include perquisites such as value of rent-free accommodation, medical reimbursements and leave travel encashment. Taxpayers will also not be able to claim tax benefit on interest repayment on housing loans. However, the benefit would be available if the house is rented.
All savings schemes would also come under EET, implying that they would face tax at the time of withdrawal. However, tax exemption would be available to the Public Provident Fund and other pension fund schemes on withdrawals of amounts accumulated up to March 31, 2011.
The Code further proposes abolition of STT. Capital gains on shares and securities has been proposed to be taxed as income, added to other income after indexation with base year 2000. "The capital gains regime is proposed to be simplified by eliminating the distinction between long-term and short-term capital assets," Vikas Vasal, executive director, KPMG.
Also, deductions allowed for investments in specified investment instrument—mainly long-term savings and retirement savings—will go up to Rs 3 lakh from Rs 1 lakh. The bad news is that retirement savings will become taxable on withdrawal, as the draft code has proposed to usher in exempt, exempt, tax (EET) regime. More significantly, the deduction of Rs 1.5 lakh allowed on interest paid on home loans appears set to be scrapped. There is no mention of such deduction being allowed in the draft code.
It is also proposed that all perks are to be considered part of the gross salary for the purpose of taxation. The impact of that on tax liability of an individual will be known only when the rules are prescribed by the income-tax department at a later date, notes PricewaterhouseCoopers executive director Kaushik Mukherjee.
But one thing is certain. The tax treatment of the perks enjoyed by the government employee and the private sector employee will be the same. The objective according to the draft code: To improve both the horizontal and vertical equity of the tax system across employees in all sectors.
It has also proposed that benefits such as gratuity payment made to employees on change of jobs will be allowed tax exemption only if it is invested in a retirement fund. If an employee fails to invest it in such fund, such receipts will be taxed at the appropriate marginal rate of tax.
The most significant change is the proposal to bring in the EET regime for all approved provident funds, approved superannuation funds, life insurance and New Pension System trust from April 1, 2011. The NPS is already subject to EET, where contributions and accruals in the scheme are not taxed but withdrawals are subject to tax. The withdrawals will be taxed whenever they are made, that is, at maturity or prematurely at the personal marginal rate.
"Any withdrawal made, or amount received, under whatever circumstances, from this account will be included in the income of the assessee under the head 'income from residuary sources' in the year in which the withdrawal is made or the amount is received."
The test for residency of foreign companies is clearly aimed to protect India's tax base by retaining right to tax income based on a narrow 'control and management' test.
Though maximum marginal tax rates for individual has remained unchanged at 30%, the slab rate at which it would apply has been raised multifold to Rs 2.5 million. This step alone should encourage voluntary declaration and reap long-term benefits to increase tax to GDP ratio.
The most important change impacting individuals is introduction of EET (exempt exempt taxed) scheme under which investments made in saving instruments such as provident fund, life insurance etc shall be taxable on withdrawal. This shall apply only to new contributions after the commencement of the code. Hence, existing instruments seem to have been grandfathered.
Corporates would immensely benefit from reduced tax rate of 25%, which is very competitive by global standards. However to gain, one has to lose somewhere - all profit linked incentives have been done away with. Instead, tax incentives are applicable to businesses that entail high risk and long payback. The businesses that fall in this category generally include the current set of activities that enjoy tax holidays. The catch however, is that instead of offering profit linked incentives, only the revenue and capital expenditure amortisation shall be allowed and thereafter, profits would be taxed.
http://economictimes.indiatimes.com/articleshow/4887913.cms
"US markets closed up and other Asian markets are positive as well. Asian stocks are up after the US Fed said that the recession was easing. Our market has bounced back from 14,700 levels as anticipated. We now expect a V-shaped recovery till 16,000 on the Sensex while the Nifty could rise to 4,850 without resistance. Market momentum is likely to be fast and intense. We advise investors to go long on real estate, infrastructure and commodities stocks. For the day we are positive on the market," said Niket Shah, associate research analyst, Institutional Equity, Religare Capital Markets.
At 10:50 am; National Stock Exchange's Nifty was at 4562, up 104.50 points or 2.34 per cent. The index touched an intra-day high of 4562.80 and low of 4458.55.
Bombay Stock Exchange's Sensex was at 15306.55, up 286.39 points or 1.91 per cent. The 30-share index has touched a low of 15207.96 and high of 15328.24 in early trade.
"Trend deciding level for the day is 4430 / 14922. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 4501 – 4545 / 15142 - 15264. However, if Nifty trades below 4430 / 14922 for the first half-an-hour of trade then it may correct up to 4387 / 14800," said Angel Broking note.
BSE Midcap Index was up 2.47 per cent and BSE Smallcap Index gained 3.02 per cent.
Amongst the sectoral indices, BSE Realty Index was up 3.66 per cent, BSE Metal Index moved 2.96 per cent higher and BSE Bankex declined 2.66 per cent.
Unitech (5.16%), Hindalco (4.78%), National Aluminium (4.70%), ICICI Bank (4.30%) and Ambuja Cement (4.26%) were amongst the major Nifty gainers and no losers.
Market breadth was positive on the BSE with 1758 advances and 351 declines.
The government on Wednesday unveiled the draft of a brand new direct tax law, which will replace the four-decade Income-Tax Act, "... to improve the efficiency and equity of our tax system by eliminating distortions in the tax structure, introducing moderate levels of taxation and expanding the tax base", said finance minister Pranab Mukherjee.
An encouraging industrial growth of 7.8 per cent in June took the market by surprise. The data showed that while mining output was up 15.4 percent, electricity rose 8 percent, output of capital goods and consumer goods sectors expanded respectively by 11.8 percent and 4 percent during the period.
One hundred and sixty one districts have been declared drought-prone and sowing is down 20 per cent.
Meanwhile US stocks rose on Wednesday, but finished off session highs, after the Federal Reserve said it saw signs of a more stable economy. The Federal Reserve said on Wednesday the US economy was showing signs of levelling out two years after the onset of the deepest financial crisis in decades and it moved to phase out one emergency measure. The central bank also kept its benchmark short-terminterest rate steady near zero and said it would likely stay there for an extended period to guide the way to recovery.
The Dow Jones Industrial Average was up 120.16 points, or 1.30 per cent, at 9,361.61. The Standard & Poor's 500 Index was up 11.45 points, or 1.15 per cent, at 1,005.81. The Nasdaq Composite Index was up 28.99 points, or 1.47 percent, at 1,998.72.
Asian stocks were on the rise on Thursday following encouraging comments from Wall Street. The Nikkei rose 1.02 per cent Hang Seng climbed 1.96 per cent and Straits Times advanced 1.57 per cent
The net impact of these measures on India Inc would be substantial and mostly positive but might vary from company to company, say tax experts. There could be cases where the removal of incentives coupled with the new methods computation would expand the tax base by up to 40%, netting out the benefit of the low tax rate.
Once the code is implemented, both domestic and foreign companies would be paying tax at a low rate of 25% as against 33.99% and 42.23%, respectively, at present (inclusive of surcharge and education cess). While domestic companies would pay a 15% tax on the dividends that they actually distribute, foreign companies would be required to pay a 'branch profit tax' at the same rate whether or not they remit profits outside the country.
The code proposes to treat capital gains as business income. Losses would be allowed to be carried forward indefinitely. As expected, the new tax code does not provide for area-based exemptions, which anyway have end dates prescribed.
On double taxation avoidance, the code says neither the relevant bilateral treaty nor the code would have a preferential status and in the case of a conflict, the one that is later in point of time would prevail.
As per the code, MAT would be 0.25% of value of gross assets in case of banking companies and 2% of that value for other companies. The authors of the code justify the re-definition of MAT as an 'assets tax' saying that this would allow companies to expect to earn a specified average rate of return on their assets which is an "incentive for efficiency".
However, under the proposed dispensation, even loss-making companies could end up paying MAT. Also, companies making huge investments would gain from the 100% write-off of capital expenditure in the first year itself, but this gain would be partly negated as they would pay MAT on the value of assets created. Infrastructure companies that have to wait for long years before starting to make handsome profits would have to pay MAT even in the initial years of low/nil profitability.
And since MAT would be treated as a 'final tax', it won't be possible to carry it forward for claiming credit in the subsequent years. "Basically, what the policymakers propose is to reward businesses that take high risk and expect long payback," says Mukesh Bhutani of BMR Advisors.
It is believed that asset-heavy companies would generally find their tax liability has come down, thanks to the new investment-linked incentives. But again, these companies are eligible for tax holidays in the current regime too. In fact, even companies who are to gain from the new code might have to redo tax planning to protect cash flows, says PwC's executive director Ketan Dalal.
AAR normally gives its decision after hearing the stand of the taxpayer as well as the I-T department on whether tax has to be paid in India or the amount that is payable. Similarly, under the system of APA, a company can file a petition before the authorities to determine the margin related to the cross-border transaction in advance.
The tax authorities and the taxpayer can arrive at an understanding on the margin. If the taxpayer continues to adhere to this agreement, the tax authorities are bound to accept the declaration of the taxpayer.
Samir Gandhi, partner, Deloitte Haskins & Sells, told ET: "This provides certainty on the issue of transfer pricing for a specified period of time and prevents time-consuming litigation and examination for taxpayers and tax authorities." The second change is the risk-based assessment that replaced the prevailing practice of selecting any cross-border transaction worth Rs 15 crore or more for transfer-pricing assessment.
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| → Gear up for tax compliance risks in eco downturn: IMF paper |
This, according to I-T sources, generates unnecessary workload as the system does not provide any discretion to tax authorities to focus on those cases where the chances of levying huge additional tax is high. The provision in the new tax code provides for a system of selecting cases for scrutiny in accordance with the "risk management strategy" to be framed by the Central Board of Direct Taxes (CBDT).
In most countries where transfer pricing rules are in operation, a risk-management strategy is based on the quality of documentation and commercially-realistic prices declared by the taxpayer. This is the strategy adopted by the Australian tax authorities too.
Mr Gandhi said: "Under the provisions of the new tax code, the tax authorities are not obliged to disclose to taxpayers the criterion chosen for selecting cases for scrutiny. This is not a positive provision."
| No more riding on tax treaties 13 Aug 2009, 0448 hrs IST, ET Bureau The government, in its new Direct Tax Code, has sought to introduce provisions to prevent the misuse of double-taxation avoidance treaty that India In double taxation, a company or an individual, who is a resident of one country and makes taxable gains in another, is obliged to pay taxes on those gains locally and pay again in the country in which the gain was made. Such treaties seek to avoid these instances. Many foreign institutional investors route their investments through Mauritius or Cyprus into India to take advantage of the double taxation avoidance agreement. Both, India-Mauritius and India-Cyprus tax treaties provide that capital gains arising in India from the sale of securities can only be taxed in Mauritius and Cyprus. This means no capital gains tax on investments in securities routed through Mauritius and Cyprus, as they do not levy tax on capital gains. In many instances, however, these agreements have been misused to evade taxes. This is called 'treaty shopping,' where usually residents of a third country take advantage of a tax treaty between two countries. The government is seeking to plug these loopholes. "For the purposes of determining the relationship between a provision of a treaty and this code neither the treaty nor the code shall have a preferential status by reason of its being a treaty or law; and the provision which is later in time shall prevail," the draft released Wednesday said. According to tax experts, the new provisions is in line with the US tax laws, which states that the domestic tax law, passed by the Senate will override any pre- existing treaty. Lawyers said the new tax code is negative for the markets and international investments into India because of the uncertainty that it may create. "The proposed code upsets the basic structure of the existing tax jurisprudence developed over a period of over half a century. The new code seems to have provided a back door entry to tax treaty override which clearly goes against principles of comity of nations and is likely to affect India's international relations. Even the constitutionality of many of these provisions is indeed questionable," said Nishith M Desai, international tax and corporate lawyer. Sectors enjoying tax holidays to take a hit 13 Aug 2009, 0501 hrs IST, The draft Direct Tax Code proposes significant changes vis-à-vis corporate taxation, though the basic structure continues to be the same. The focus
The code proposes a foreign company having even part control and management in India would be considered as resident in India, leading to world taxation. This could create significant issues for foreign companies in India, the only protection being the relevant Tax Treaty provisions. It proposes a corporate tax rate of 25% for domestic as well as foreign companies. The foreign companies would also be subjected to additional branch profit tax at 15%. Dividend distribution tax would continue to be payable by domestic companies at 15%, thereby effectively achieving parity vis-a-vis taxation of foreign companies. The concept of levying MAT on book profits is proposed to be changed to levy of tax on value of gross assets, which is a significant departure. Also, no MAT credits are proposed. Wealth tax would not be payable by corporates. Interestingly, the code proposes taxation of various capital receipts as normal business profits. Thus, profit on sale of business capital assets or gains derived from slump sale could be taxed as business profits. Conceptually, the permissible expenditures have been kept similar to that under the present tax law. Also, the code contains quasi-transfer pricing provisions vis-à-vis transactions between two Indian affiliates, which could lead to litigation. Emphasis has been given to tax incentives for scientific research. The current regime of profit-linked incentives like tax holidays on income earned, is being substituted with a new scheme, whereby a taxpayer would be allowed to recover all capital and revenue expenditures except for expenditure on land, goodwill and financial instruments and shall be liable to income tax on profits earned after such recovery. This new scheme will apply to certain specific sectors such as SEZ, power, hospitals etc. Interestingly, no specific exemption for information technology sector seems to be provided. The code attempts at a somewhat new way of approaching corporate taxation, the biggest impact being on sectors which till now were enjoying tax holidays. The concessional rate of 25% would definitely benefit all corporates. Also, under the code, taxation of foreign companies would be interesting. Dinesh Kanabar, Leader, Tax & Regulatory Practice, PricewaterhouseCoopers | |||||
Rainfall has improved in the central soybean-growing area, and is likely to be close to normal in the next few days, but sources in the India Meteorologican Department say total rainfall in August would now probably fall short of the reduced forecast of 90 per cent of the average.
Weather officials said low rainfall so far, the worst in at least five years, would hit winter-sown crops such as rapeseed and wheat, while a trade body said edible oils imports by the world's top buyer would surge as rains will hit output of oilseeds, particularly groundnunt.
The weak monsoon has already damaged the cane crop, and prospects of big purchases by the world's top sugar consumer has helped New York sugar rise to the highest level in nearly three decades.
A government source said Prime Minister Manmohan Singh was likely to meet chief ministers of state governments on Monday to discuss the drought-like situation.
Erratic monsoon rains, which began with the driest June in 83 years before improving somewhat last month, are now 29 per cent below normal in June 1-Aug 11, government sources said.
The weather office chief, Ajit Tyagi, said on ET Now television that the situation was grim and low rainfall may hurt winter-sown crops as well.
DIFFICULT YEAR
"Yes, it's a difficult year ... we have advised the states well in advance that there are some areas of concern particularly over northwest india and parts of Andhra Pradesh, maybe central India also," he said.
Northwest India is a key sugarcane area, while central India grows soybean. Andhra Pradesh cultivates rice and corn.
But Tyagi said he was not in a position to say if the country was suffering from a drought.
"We don't declare drought. We are meteorologists. Agriculture department does that," Tyagi said.
Big, medium or marginal, all Vidarbha farmers are on edge
Land Holding | 30 acres
Side Business | None
Family Size | 12 members
Income | Rs 2 lakh PA
BHANDARA: Vijay Tiwari, a large-scale farmer of Tudka village, is a worried man. His first paddy crop has been completely destroyed due to scanty rains. Now, he is going in for a second sowing in spite of the fact that it has not rained in the area in the last 15 days.
By the villagers' standards, Tiwari is a 'rich' man. He and his two brothers own 30 acres of land in an area where most families have holdings that are only four to five acres.
However, this year the rain gods have Tiwari as worried as his less affluent neighbours . Tiwari told TOI that he had already lost Rs 20,000 in the first sowing. "When the rains stopped I used the water from my tank to keep the saplings alive but then the tank dried up. I then started drawing water from the nearby stream. Now, the stream too is drying up and if it does not rain in another four to five days, thousands will go down the tube again. And I can't afford that."
Dipak Katre
Land Holding | 15 acres
Side Business | None
Family Size | 9 members
Income | Rs 1.10 lakh PA
NAGPUR: Dipak Katre doesn't know if he took the right decision . Due to scanty rainfall he delayed the sowing of paddy, unlike most farmers of Gondia district who started sowing in late June or early July. Then, some 20 days ago, it rained cats and dogs and he decided to go for it.
However, the next day it did not rain at all and he changed his mind. He decided that he would sow when it rained regularly. However, it never did. He finally decided to use groundwater for sowing.
The farmer fervently hopes that it rains in a few days or he would lose all his money. "This year we are witnessing the worst drought. Even our grandfathers don't remember such a catastrophe," he says.
Katre said the government had decided to not provide the three-phase power supply needed for farm pumps if it does not rain till August 15. "They say water will have to be conserved for drinking till July next year. But I will be ruined."
| Govt shouldn't have waited for so long on Ambani row: Naik 13 Aug 2009, 1534 hrs IST, PTI | |||||||
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| NEW DELHI: Criticising the government for "keeping quiet" for long on the Ambani MoU that provides for dividing a national resource, former oil Naik, the architect of the landmark New Exploration Licensing Policy (NELP) that opened up oil and gas hunt to private and foreign investments, said that private family pacts cannot override national priorities for use of gas. "I am very surprised that the Petroleum Ministry kept quiet for such a long time. They should have intervened effectively in the Bombay High Court itself," Naik told PTI from Mumbai when contacted. The High Court first heard the dispute between the firms run by brothers Mukesh and Anil Ambani and it was only after it gave effect to division of gas from fields-operated by Reliance Industries that the government moved Supreme Court. Naik said he had also written to the Prime Minister last month seeking "his personal indulgence to strongly counter (transfer of more than one-third of peak output from RIL's KG-D6 fields to Anil's RNRL at a fixed price for 17 years) and immediately step in to re-establish the sanctity of the Production Sharing Contract." "Allowing a family MoU to distort marketing arrangements and restrict everyone else's access to gas defeats the very purpose of (NELP) and the PSCs under which this exploration is to be done," he wrote. | |||||||
RIL is likely to sign the Gas Sales and Purchase Agreement (GSPA) with IGL - the sole supplier of CNG and piped gas in Delhi - for supply of 0.308 million standard cubic meters per day of its KG-D6 gas, industry sources said.
Government has allocated over 0.83 mmscmd gas from KG-D6 for seven city gas projects at a price of $4.2 per million British thermal unit.
Besides IGL, Mahanagar Gas Ltd that retails CNG in Mumbai has been allocated 0.37 mmscmd and Hindustan Petroleum 0.49 mmscmd for its CNG operations in Ahmedabad, sources said.
State gas utility GAIL's subsidiaries Avantika Gas Ltd has been given 0.012 mmscmd for Indore and 0.0012 mmscmd for Ujjain, Green Gas Ltd 0.15 mmscmd and Sabarmati Gas Ltd 0.077 mmscmd.
RIL is currently producing 36 mmscmd gas from KG-D6, half of which goes to power plants. The firm has the capacity to produce 60 mmscmd but is constrained to produce less as the government is yet to identify customers for buying gas beyond the initial 40 mmscmd, allocated primarily to fertilizer and power producers in accordance with the Gas Utilization Policy.
Sources said RIL's gas output from KG-D6 had touched 37 mmscmd on one day last week when Torrent Power in Gujarat drew its entire quota of gas. But since then it is hovering at around 36 mmscmd.
RIL cannot sell gas to these and other users, including its own refineries, which are starved of the fuel, unless allocation is approved by the Government.
Among the customers so far identified by the government, Ratnagiri Gas and Power Pvt Ltd (RGPPL), the firm that operates the Dabhol plant, and state-run NTPC are yet to draw even a single unit from RIL's Krishna-Godavari (K-G) basin D6 fields.
RGPPL has signed for 2.7 mmscmd but is not taking any gas as it has a contract to buy gas from Petronet LNG Ltd till September-end. NTPC, which was allocated 2.67 mmscmd, has not signed the contract with RIL so far.
Fertiliser firms, which had been given the first right over KG-D6 gas, since last week are drawing 14.5 mmscmd, the highest ever after urea-making plants that were shut for maintenance became operational. Fifteen fertiliser firms have been allocated 14.96 mmscmd gas.
Power firms are drawing 18 mmscmd, while steel makers like Essar are drawing between 3 and 3.5 mmscmd, an official said.
Sources said RIL gas sales will cross 40 mmscmd the day the country's largest gas-fired power plant, RGPPL, starts drawing gas.
| PM to unveil Cairn India's Barmer oilfield soon 13 Aug 2009, 0145 hrs IST, ET Bureau NEW DELHI: Petroleum minister Murli Deora met Prime Minister Manmohan Singh on Wednesday to appraise the progress of various projects undertaken by "Key topics discussed at the meeting included rural LPG (cooking gas), national gas grid and Vision-2015 of the oil sector. He (Mr Deora) also explained the ministry's position on the gas dispute," a government official in the know said. "In the meeting, the PM agreed to inaugurate oil production from the Barmer field soon," he said, requesting anonymity. The date is yet to be finalised though. Cairn India, the operator of the field, is all set to start producing oil from the field. State-owned Oil & Natural Gas Corp (ONGC) is the a partner in the field. During his half-an-hour interaction with Dr Singh, Mr Deora also explained that the recent judgement of the Bombay High Court had forced the ministry to take legal steps to protect national interest, he said. Mr Deora also explained the reason for filing a special leave petition (SLP) in the Supreme Court as the Bombay High Court's verdict challenged rights of the government to use natural resources in the larger interest. The government's intervention in the legal dispute became necessary after the court upheld the Ambani family memorandum of understanding (MoU) that divided almost entire current and future gas production by Reliance Industries (RIL) between brothers Mukesh and Anil, an official in the oil ministry, handling the issue, said on condition of anonymity. "Ministry's position on this (the Ambani's gas dispute) is the same as explained in the Parliament," he said. Stating ministry's position he quoted Mr Deora's statement in the floor: "We have nothing to do with the private dispute of two industries or industrialists. However, we have everything to do with protecting the interests of the government and public interest; this is our constitutional and legal obligation." Mr Deora also clarified that both pricing and allocation of Krishna-Godavari basin gas produced by RIL was decided by an Empowered Group of Ministers (EGoM) where top priorities were given to existing urea and power plants. He explained that the decision helped the government in saving Rs 3,000 crore fertiliser subsidy bill annually. The supply of gas to stranded gas-based power plants from April this year has been able to generate about 4,000 MW additional power. | ||||
| Drought panel push for rural cash, loans | |||||
| SANTOSH K. KIRO | |||||
| Ranchi, Aug. 12: In tune with the urgency set in motion by Prime Minister Manmohan Singh to tackle the spiralling effects of drought, the Jharkhand administration today formed a task force of state officials and bankers to ensure payments for social security schemes — like NREGA — weren't delayed. To be headed by development commissioner, the task force would have as members representatives of Nabard, State Bank of India, Allahabad Bank and Bank of India, apart from secretaries of various departments, including rural development, disaster management, institutional finance and agriculture. The task force, formed at a meeting held today on the orders of Governor K. Sankaranarayanan, will be meeting at least once in a week to review ground realities and monitor levels of cash and credit flow among the rural poor. The state administration asked banks to ensure that local branch managers did not hold up payments to beneficiaries of social security schemes such as NREGA and old age pensions. "Though the money for social security schemes gets credited in the personal accounts of villagers, they get the cash from banks only after several days. This is happening in NREGA and the old-age pension scheme," said S.K. Choudhary, the development commissioner. He said the state had recently distributed Rs 200 crore under old-age pension scheme. "But, several deputy commissioners aren't sure when the cash would actually reach the beneficiaries even though the money had been credited to their accounts," he added. The state government also asked banks to give "consumption loans" of Rs 10,000 each to families that were poor but not categorised as BPL. Unlike BPL families, these families weren't entitled to free foodgrain. "As this category of families would also be effected by drought, they have to be supported by consumption loans," Choudhary said. Union minister of food processing Subodh Kant Sahay, who was present at today's meeting, asked bankers to ensure village branch managers "followed" instructions of senior officials to ensure cash flow and timely disbursal of credit. Sahay feared that if the state failed to deal with drought effectively, left wing extremists would use it as another tool to capitalise on the frustrations of villagers. "The state is already Naxalite infested. And if the drought is not managed properly, the rank and file of villagers would join them," he feared. He said banks had to play a pro-active role to ensure villagers were able to buy foodgrain. "There will be plenty (of foodgrain) in markets even during drought. But, famines occur when the purchasing power of people gets weak," he said. http://www.telegraphindia.com/1090813/jsp/frontpage/story_11355293.jsp
http://www.telegraphindia.com/1090813/jsp/business/story_11356042.jsp |
| Long-term pain for retail investors | ||
| OUR BUREAU | ||
Aug. 12: Retail investors who have finally dredged up some courage to invest in a bull market will find little to cheer about in the new direct tax code. Reason: the government proposes to erase the distinction between short- and long-term capital gains tax even as it seeks to abolish the securities transaction tax (STT) that was introduced in 2004. The tax change could mean higher taxes on retail investors. At present, investors do not have to pay a tax on capital gains if they hold the shares for more than a year. Under the new regime, they will have to do so. "This will hurt small investors. They will have to pay tax under the new slabs, which means investors with an income of less than Rs 10 lakh will have to pay a 10 per cent tax while those who earn between Rs 10 lakh and Rs 25 lakh will have to cough up 20 per cent," said Ernst & Young director (tax) Anish Thacker. "Investors with an income in excess of Rs 25 lakh per annum will pay tax on gains from sale of equities at 30 per cent irrespective of the time frame in which shares are sold," he said. In the current tax system, investors have to pay a short-term capital gain tax. If they conduct transactions through the stock exchange, they are exempt from paying long-term capital gains tax and simply pay a securities transaction tax of 0.125 per cent. If the sale of securities is done through an off-market transaction, then a 10 per cent long-term capital gains tax is applicable on the deal. Besides increasing the tax burden for the small investor, the proposed new tax code will also give taxpayers more headaches in the computation of tax. "We may now have to go back to the old more complicated system of computation since the long-term capital gains exemption may be over. Investors will have to go in for indexation or calculate the fair market value of shares which were bought several years ago," said PricewaterhouseCoopers executive director (mergers & acquisition tax) Saurabh Upadhyay. The markets are also wary. "The details of the new tax code needed to be studied, but it can create repercussions as investors have got used to idea that long-term gains need not be paid," said Arun Kejriwal, director, KRIS. Aseem Chawla, taxation partner at Amarchand & Mangaldas, said, "This will encourage only FIIs, institutional investors and day traders to enter the market and dissuade retail investors from entering the capital market." http://www.telegraphindia.com/1090813/jsp/business/story_11356046.jsp |
| I-T slab to be widened; corporate tax at 25%; STT to go; likely from 2011. |
Our Bureau
New Delhi, Aug .12
India has taken the next step towards structural changes in direct taxes by releasing a draft of the proposed new Direct Tax Code for public debate.
The draft, along with a discussion paper, was made public by the Finance Minister, Mr Pranab Mukherjee, at North Block here on Wednesday.
With this, the Finance Minister has fulfilled the promise he made in his Budget Speech on July 6 that the draft direct taxes code would be put up for public debate within 45 days. Both Mr Mukherjee and the Home Minister, Mr P. Chidambaram, who was invited for the release ceremony, made it clear that the proposed new Tax Code would replace the existing Income-Tax law and was not intended to bring amendments to the Income-Tax Act, 1961.
Mr Chidambaram also indicated that the the new Code would be applicable only from 2011. "By the time the new Code is debated and becomes law, I think it will be year 2011, marking the golden jubilee of the earlier Code", he said.
A chunk of the drafting of the new Code has been done by Mr Chidambaram himself, Mr Mukherjee said, while commending his predecessor's efforts.
Mr Pranab Mukherjee said that with the implementation of the Code the Government expects better compliance and realisation of taxes.
"The overall objective has been to keep the Code as simple as possible. I expect the Code to eliminate scope for litigation as far as possible. All direct taxes have been brought under a single Code," he said.
The Finance Minister also said that he expects informed debate and discussions between now and the winter session of Parliament; the Government intends to introduce a Bill in the winter session.
One of the features includes moderation of tax rates for domestic companies. The basic tax rate is proposed to be brought down to 25 per cent from the current 30 per cent. The same rate of 25 per cent is proposed to be applied for foreign companies also. However, they will be required to pay branch profits tax of 15 per cent.
For individuals, the Code proposes to tax total income between Rs 1,60,000 and Rs 10 lakh at 10 per cent of the amount by which the total income exceeds Rs 1,60,000.
Where the total income exceeds Rs 10 lakh but not Rs 25 lakh, the tax liability will be Rs 84,000 plus 20 per cent of the amount by which the total income exceeds Rs 10 lakh.
Where the total income exceeds Rs 25 lakh, the tax liability will come to Rs 3.84 lakh plus 30 per cent of the amount by which the total income exceeds Rs 25 lakh.
Moreover, the savings limits are also proposed to be increased to Rs 3 lakh. From April 1, 2011, contributions to all savings instruments would be subject to tax under the 'exempt-exempt-tax' method — that is, withdrawals will be subject to tax.
Mr Mukherjee admitted that the Government had taken time to come up with a simplified tax code though Dr Manmohan Singh, as Finance Minister in 1991, had underscored the need for a tax system that was easily understandable, with moderate rates and without exemptions.
Uneasy wait for new tax code
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New direct tax code by Aug 20
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Draft Direct Taxes Code proposes moderate rates Vinay Kumar
| Plan to tax income up to Rs. 10 lakh at the rate of only 10% |
RADICAL REFORMS: Union Finance Minister Pranab Mukherjee and Home Minister P. Chidambaram releasing the draft Direct Taxes Code in New Delhi on Wednesday.
NEW DELHI: The government on Wednesday proposed to tax income up to Rs. 10 lakh at 10 per cent, while under the existing regime this relief is limited to people with an income of Rs. 1.6 lakh to Rs. 3 lakh.
Income between Rs. 10 lakh and Rs. 25 lakh will be taxed at 20 per cent and earnings thereafter will attract a rate of 30 per cent, as per the draft of the new Direct Taxes Code that seeks to improve the efficiency and equity of the tax system by eliminating distortions in the structure, bringing about moderate levels of taxation and expanding the base.
Releasing the code that proposes to consolidate and amend the law relating to all direct taxes — income tax, dividend distribution tax, fringe benefit tax and wealth tax — and ultimately replace the Income Tax Act of 1961, Union Finance Minister Pranab Mukherjee said that if a reasonable discussion took place on the draft code, a Bill could be placed in the winter session of Parliament.
The draft code proposes a new, substantially liberalised tax rate for individual tax-payers. For example, in the case of every individual other than women and senior citizens, the code does not propose to levy any income tax on a total annual income of up to Rs.1.6 lakh.
SlabsThe code proposes 10 per cent income tax if the total yearly income exceeds Rs. 1.6 lakh but does not exceed Rs.10 lakh. It proposes two other slabs: where the total income exceeds Rs.10 lakh but does not exceed Rs. 25 lakh and it proposes a tax of Rs. 84,000 plus 20 per cent of the amount by which the total income exceeds Rs.10 lakh; where the total income exceeds Rs. 25 lakh, it proposes Rs. 3.84 lakh plus tax at the rate of 30 per cent of the amount by which the total income exceeds Rs. 25 lakh.
Currently, the general income tax payer does not pay tax up to Rs. 1.6 lakh of income in a year. However, he pays 10 per cent tax on income between Rs. 1.6 lakh and Rs. 3 lakh, 20 per cent between Rs. 3 lakh and Rs. 5 lakh, and 30 per cent beyond Rs. 5 lakh.
"We expect to have better compliance and better collection of taxes. The attempt is to simplify the language to enable better comprehension and remove ambiguity to foster voluntary compliance," Mr. Mukherjee said.
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Ending months of uncertainty, India and the 10-nation Association of South East Asian Nations on Thursday signed a crucial trade pact that will break duty barriers in the 1.7 billion consumer market in the region. 
The Centre, on Wednesday, set the ball rolling for initiating radical reforms in the direct tax system through a draft code proposing significant Income Tax relief as well as tax benefits for all categories of income groups like hiking deduction... FOODGRAINS: Can Dr Singh do a Robert Peel?
India is faced with the prospect of persistently rising food prices or food inflation. Even the Supreme Court thinks so. Some of this increase has to do with the failure of the monsoon. Only about 40 per cent of the gross cropped area ...
INTERVIEW: It costs Rs 6 to reach Re 1 to the poorest
While agricultural technology is scale-neutral, profitability favours those who have the capacity to hold the stocks and sell at high prices, reduce the cost of production and forge market tie-ups, probably in commercial crops. And mainly ...
EDITORIAL: Power pangs
Power utilities in the country face an economic paradox: demand for electricity is running 12 per cent ahead of supply, yet they cannot capitalise on it by extracting higher prices from consumers. An industry association in Karnataka ...
ACCOUNTING STANDARDS: IFRS for SMEs, a welcome measure
The publication of a simplified form of International Financial Reporting Standards (IFRS) for private entities has been long awaited by national standard setters and small and medium-size entities (SMEs), which have been required to apply full ...
FINANCIAL MARKETS: CDO and CDS — a heady cocktail
That Collateralised Debt Obligation (CDO) brought about the ruin of the US financial system is well known even though one is not sure whether any moves are afoot to rein in the tendency to pass the buck in the name of unlocking illiquid ...
ACCOUNTANCY: Publish what you pay
The economic channel of corruption affects two proximate drivers of poverty, namely, growth and inequality, says Reducing Global Poverty: Patterns of potential human progress, volume 1 ( ...
ACCOUNTING STANDARDS: One world of Standards?
An American music group called the Cheetah Girls shot to fame after an album and a song called One World. Accounting standard-setters the world over are visualising one world for accounting standards. Existing standards in ...
LETTERS: A question of ethics
That "B-schools must rethink ethic questions" (Business Line, August 11) is not surprising to people like ...
LETTERS: Bank strike
The late Finance Minister, C. Subramaniam, said in Parliament years ago that in our country "banks and bank employees are a high-wage island in a sea ...
Columnists: • C Gopinath • Harish Bijoor • G Chandrashekhar • S Murlidharan • Sharad Joshi • Mohan Murti • S Balakrishnan • Bharat Savur • B S Raghavan • Ganesh Challa • Bhanoji Rao • Swati • T Banusekar • Ramanujam Sridhar • Ranabir Ray Choudhury • Rasheeda Bhagat • P.V. Indiresan • P Devarajan • S Muralidhar • R K Raghavan • B Venkatesh • S Venkitaramanan
INDUSTRY & ECONOMY
ECONOMY: IIP growth hits a gusher in June
New Delhi, Aug. 12 The domestic industry recorded a year-on-year growth of 7.8 per cent in June, marking a ...
POWER: Power pangs
Power utilities in the country face an economic paradox: demand for electricity is running 12 per cent ahead of supply, yet they cannot capitalise on it by extracting higher prices from consumers. An industry association in Karnataka ...
SSI: IFRS for SMEs, a welcome measure
The publication of a simplified form of International Financial Reporting Standards (IFRS) for private entities has been long awaited by national standard setters and small and medium-size entities (SMEs), which have been required to apply full ...
SSI: Canara Bank to speed up credit delivery to SMEs
Extends Sulabh model to seven more centres. Canara Bank plans to sanction between Rs 3,000 crore and Rs 4,000 crore as SME (small and medium enterprises) advances ...
CINEMA: Multiplexes face big drop in footfalls
Mumbai, Aug. 12 This has turned out to be a jinxed year for multiplexes. The first blow was the standoff with the producers which lasted for two months and caused combined losses of Rs 25-30 crore. Just when it seemed that happy times are ...
EDUCATION: Yash Birla group plans Rs 500-cr education foray
From conventional schools to super-speciality colleges. The 3,000-crore Yash Birla Group has earmarked Rs 500 crore in the next three years to establish nearly 350 educational institutions for students and teachers through the group company, ...
FOOD & DAIRY PRODUCTS: Biscuits not to become costlier, for now
Even as costs of key inputs, milk and sugar, escalate. Mumbai, Aug. 12 In spite of escalating prices of milk and sugar, biscuit manufacturers are not inclined to increase prices ...
EMPLOYMENT: Govt bets big on technical textiles for job creation
New Delhi, Aug. 12 The Government expects the technical textiles segment, which is engaged in the production of a specialised industrial commodity, to employ around three lakh additional workers by ...
POWER: Rs 80,000-cr may be needed to meet N-power target
If India goes ahead with the Prime Minister's desire to increase nuclear power production to 20,000 megawatts (MW) by the year 2020, the country may need investments to the tune of Rs 80,000 crore in the next decade, an expert ...
HEALTH: Swine flu 'spreads' to social networking sites too
FEVERISH DEBATE. Mumbai, Aug. 12 "Swine flu: how dangerous is it? Are small children at a higher risk?" asks a 33-year-old mother ...
POWER: NHPC may be listed by Sept first week
Mumbai, Aug 12 Shares of NHPC, whose IPO closed on Wednesday, is expected to be listed by the first week of September, merchant bankers to the ...
FOREIGN TRADE: 'India, US to announce tangible results in November'
New Delhi, Aug. 12 India and the US intend to announce some of the most "tangible results" of their partnership in November when the Prime Minister, Dr Manmohan Singh, travels to Washington for an official visit, the newly ...
HEALTH: Sikkim geared to tackle swine flu
Sikkim is fully geared to tackle the danger of swine flu, said the Chief Minister, Mr Pawan Chamling. He said some 10,000 Tamiflu tablets have been stocked in the State to take care of swine flu victims, ...
HEALTH: Online shopping sites now see biz in masks
Mumbai, Aug. 12 As the swine flu scare spreads, masks have become the most sought after commodity in ...
SSI: Portal launched to provide marketing support for small enterprises
New Delhi, Aug. 12 The Minister of Micro, Small and Medium Enterprises (MSME), Mr Dinsha Patel, inaugurated a B2B Web portal of the National Small Industries Corporation Ltd (NSIC) for providing Web based marketing support to MSMEs in ...
INFRASTRUCTURE: Donkey work
...
INCOME TAX: Simplifying processes
...
HEALTH: Wait for check-up
...
EXPORTS & IMPORTS: Ministry cautiously optimistic on exports
The Commerce Ministry is guardedly optimistic that the persistently negative trend in the country's exports might lift after September, despite the 'grim' ground level position with exports hovering in the negative zone ...
HEALTH: AP Govt plans isolation wards for flu patients
The Andhra Pradesh Health Department has initiated moves to set up district-wise swine flu testing facilities and isolation wards in every district ...
EVENTS: 'RINL implementing integrity pact well'
Visakhapatnam, Aug. 12 Rashtriya Ispat Nigam Ltd (the Vizag steel plant), one of the first central public sector undertakings to implement the integrity pact, is doing so very effectively and 90 per cent of the tenders floated by the ...
EDUCATION: Ohio varsity head visits B-school
...
AWARDS & HONOURS: IICT scientist wins pharma award
Dr Ahmed Kamal, Director Grade Scientist of the Indian Institute of Chemical Technology, has received the OPPI Scientist Award - 2009 from Dr A.P.J. Abdul Kalam, former President of India, in the area of New Chemical Entities (NCEs) and ...
Columnists: • B Venkatesh • C Gopinath • Bhanoji Rao • P.V. Indiresan
Industry & Economy
| PSU |
PSU refiners fear mounting diesel losses in Q2 (August 12, 2009)
Banks want comfort letter from Govt for AI loan recast (August 08, 2009)
Kerala to open festival bazaars (August 07, 2009)
AAI to be made corporate entity by next year (August 05, 2009)
Canara Bank declares Rs 170-cr exposure to Spices Trading as NPA (July 23, 2009)
'Disinvestment roadmap in 3-4 weeks' (July 16, 2009)
Merchant bankers expect only two PSU public issues (July 16, 2009)
Banks may not be able to recover dues from STCL, says ICRA (July 15, 2009)
Complete capital erosion in 72 PSUs: CAG (July 10, 2009)
PSU refiners may post Rs 5,000-cr loss on fuel sales (July 09, 2009)
Disinvestment blues (July 07, 2009)
PSU oil retailers hopeful of better times post-Budget (July 06, 2009)
Anti-tank missile Nag to be produced by Bharat Dynamics (July 06, 2009)
PSU stake sale could raise Rs 45,000 cr (June 29, 2009)
RINL ready to go public (June 28, 2009)
AI offers leave without pay to cut wage bill (June 27, 2009)
Govt set to bail out Air India (June 25, 2009)
Govt to go ahead with tie-ups of Central and State PSUs (June 24, 2009)
HAL forms unified helicopter complex to cater to growing business (June 24, 2009)
AI targets Rs 500-cr wage cost reduction (June 23, 2009)
Govt may decide on Maharatna status of PSEs in three months (June 23, 2009)
Govt help could come with strings attached: AI chief (June 21, 2009)
NHPC public float in 2-3 months (June 18, 2009)
Air India losing Rs 14-15 cr a day (June 17, 2009)
NMDC to acquire majority stake in KIOCL (June 11, 2009)
Air India hopes to cut costs by Rs 900 cr in a year (June 05, 2009)
Oil India IPO likely in September (June 03, 2009)
Govt to consider initial public offer for Air India (June 02, 2009)
Rehabilitation scheme likely for PSUs in the red (June 02, 2009)
CMPDIL gets Mini Ratna status (June 02, 2009)
Rs 240-cr net profit projected for Kerala PSUs this fiscal (May 30, 2009)
Delhi HC dismisses Nokia Siemens' appeal (May 23, 2009)
No Huawei, ZTE products in sensitive zones, DoT tells BSNL (May 20, 2009)
Nokia Siemens knocks on competition panel's door (May 19, 2009)
BSNL opens GSM bids for 3 zones (May 16, 2009)
Doordarshan plans to offer Mobile TV services (May 15, 2009)
'CPSEs must ensure transparency' (May 15, 2009)
Air India losses pile up to Rs 4,000 cr in 2008-09 (May 13, 2009)
NHAI cancels single bid projects; to reinvite tenders (May 12, 2009)
Ericsson, Huawei shortlisted for BSNL's $6-b GSM contract (May 11, 2009)
Strategy to strengthen SCOPE (May 07, 2009)
Midhani logs record turnover at Rs 306 cr (April 07, 2009)
Mangalore airport posts Rs 7.5-cr profit (April 06, 2009)
APMDC nets Rs 45 cr profit in 2008-09 (April 06, 2009)
Ordnance Factory Board turnover rises 13% (April 03, 2009)
Three major Vizag PSUs suffer neglect (April 02, 2009)
Kerala PSUs fare better (April 01, 2009)
Unkept promises (March 31, 2009)
Shipping Ministry to seek over Rs 1,000 cr from Defence (March 21, 2009)
'Public sector helped cushion effect of recession in India' (March 06, 2009)
OMCs' share in total turnover of CPSEs: Is the UPA model right? (March 03, 2009)
IDPL's revival plan looks to improve capacity utilisation and develop assets (March 03, 2009)
Kerala PSUs post Rs 65.34 cr net (February 23, 2009)
Kerala working on package for PSUs (February 20, 2009)
Will investing in PSU stocks for dividends pay off? (February 16, 2009)
HAL gets back 450 of its former employees (February 13, 2009)
Paswan hails SAIL as exemplary PSU (February 05, 2009)
'Give more freedom to navratna PSUs to form jt ventures' (February 04, 2009)
Govt seeks higher dividends from PSBs, insurers (February 03, 2009)
Books of Educomp, six PSUs come under Govt lens (February 03, 2009)
Central PSEs to get Rs 72-cr budget support (January 30, 2009)
Kerala CM urges Centre to speed up takeover of ITI unit (January 23, 2009)
MMTC logs 90% growth in turnover in April-Dec (January 18, 2009)
Mini Ratna status for Midhani (January 17, 2009)
Stimulus assistance to State transport bodies welcomed (January 06, 2009)
Cabinet reshuffle triggers top-level changes in MIDC (January 05, 2009)
Managing in the public sector (January 05, 2009)
Industry & Economy
| Real Estate & Construction |
Residential realty 'stabilising' in Delhi NCR, Chennai, Kolkata (August 12, 2009)
Realty players make highest bids at KPL auction (August 10, 2009)
Walls from waste gypsum, strong and cheap (August 09, 2009)
Omaxe project in Allahabad (August 09, 2009)
Realtors building up hopes of revival on sequential rise in Q1 profit (August 08, 2009)
Good demand for quality housing: DLF (August 06, 2009)
MTNL to rent out prime office space in Mumbai (August 06, 2009)
Ista Hotels to invest Rs 90 crore in Hyderabad property (August 06, 2009)
Props for affordable housing (August 02, 2009)
Realty developers seek more sops (July 31, 2009)
Affordable housing is tough call (July 31, 2009)
More malls vacant in cities as retail pace slows (July 29, 2009)
Incentives set to spur demand for housing (July 28, 2009)
Redevelopment of dilapidated buildings in Mumbai hits roadblock (July 27, 2009)
Omaxe scales New Heights (July 26, 2009)
Maharashtra plans Rs 1,715-cr housing project (July 25, 2009)
Oakwood Worldwide plans five-star housing facilities (July 23, 2009)
Housing Board to auction spaces in Kochi Revenue Tower (July 20, 2009)
Expanding serviced apartments (July 19, 2009)
Big rise in RHFL's loan offtake (July 19, 2009)
Tata project gets gold rating (July 18, 2009)
Property owners face a double whammy (July 18, 2009)
Pressure on office rentals may continue (July 16, 2009)
US construction consultancy co eyes hotels, airport sector (July 15, 2009)
Koncept's luxury apartments, hotels (July 12, 2009)
NHB hunts for foreign investors for mortgage guarantee company (July 09, 2009)
No new taxes is good news, say realty cos (July 08, 2009)
Realty firms disappointed with Budget (July 08, 2009)
Exemption to prefab concrete products welcomed (July 08, 2009)
TN to make guideline value of land statutory (July 08, 2009)
Realtors unhappy (July 07, 2009)
In realty, the worst is over (July 05, 2009)
Opportunities for realtors in land bank use (July 04, 2009)
PSBs trim exposure to commercial realty (July 03, 2009)
Power of attorney transactions decried (July 02, 2009)
Model Bill for regulating realty sector to be firmed up by Aug-Sept (July 02, 2009)
Savvy Infra to invest Rs 400 crore in green buildings in two years (June 30, 2009)
Insuring your home loan? Make sure you get your policy papers (June 29, 2009)
Low-cost housing's slow rise (June 28, 2009)
Crisil sees house market recovery in 2010 (June 25, 2009)
Landowners bank on real estate revival (June 22, 2009)
FIRE Arcor's township in Nagpur (June 21, 2009)
ICC seeks to speed up amendment to land acquisition Bill (June 17, 2009)
Developers seek sops for affordable homes (June 14, 2009)
Jones Lang LaSalle bags Philips deal (June 14, 2009)
Knocking at 'affordable' doors (June 14, 2009)
Big demand for smaller space (June 14, 2009)
Tata Housing to offer more low-cost homes (June 11, 2009)
Gaiety Cinema in Chennai to turn shopping complex (June 11, 2009)
IFCI reduces stake in Maytas Infra (June 11, 2009)
Realty sector's role in economic recovery significant: CREDAI chief (June 09, 2009)
ITPL gets nod to buy back built-up space in STPI (June 09, 2009)
Global property consultant RE/MAX to expand network (June 05, 2009)
Bangalore realty market showing positive signs (June 03, 2009)
Parsvnath gets approval for La-Tropicana project (June 03, 2009)
HDIL, MMRDA to develop low rent homes in Mumbai suburb (June 03, 2009)
Brigade Enterprises to launch low-cost homes (June 02, 2009)
Rebound in realty? (May 31, 2009)
Luxury mall in Chennai (May 31, 2009)
Jaipal Reddy for further concessions to housing sector (May 30, 2009)
Time for a realty check (May 28, 2009)
Tata Realty to raise $1 b (May 28, 2009)
Maharashtra Govt to amend Section 48 (1) of Bombay Stamp Act (May 28, 2009)
Godrej township project makes it to Clinton climate initiative (May 24, 2009)
More realty cos firming up fund-raising plans (May 24, 2009)
Showcasing Indian architecture (May 24, 2009)
Commercial space cheaper, yet few takers (May 24, 2009)
Realty slowdown arrests multiplex expansion plans (May 23, 2009)
Naiknavare launches service apartments in Pune (May 23, 2009)
Realty stocks witness renewed interest (May 22, 2009)
Perilous perch (May 22, 2009)
Unitech sells office complex for Rs 500 cr (May 21, 2009)
Angry crowds throng Mhada headquarters (May 21, 2009)
Metrozone in Chennai (May 17, 2009)
Long road ahead (May 17, 2009)
Nahar Group launches mid-segment housing (May 15, 2009)
Asian property sales fall 83% in Q1: Survey (May 15, 2009)
Mirah Group puts projects on hold till September (May 15, 2009)
Tata Housing to seek certification for construction quality (May 14, 2009)
2 FIIs sell shares in Indiabulls Real Estate (May 14, 2009)
Better now than ever (May 10, 2009)
Coming to terms with reality (May 10, 2009)
Secura Investment launches Shariah-compliant real estate VC fund (May 09, 2009)
Less is more: Low-cost housing projects on the rise in Ahmedabad (May 09, 2009)
Centre examining HC's service tax order on commercial premises rental (May 09, 2009)
Marg to deliver 330 flats in July (May 07, 2009)
Tata Housing launches low-cost project (May 07, 2009)
Retail realty slows down in Jan-March: Report (May 06, 2009)
DLF exits from Bidadi Satellite Township Project (May 05, 2009)
Developers turn to tech innovations to cut costs (May 04, 2009)
Builder offers compact homes in Bangalore (May 02, 2009)
RDB Ind offers incentives to boost demand for residential project (April 29, 2009)
Realty investment avenue (April 26, 2009)
Amended TN land reforms law not arbitrary: HC (April 25, 2009)
Sabari Realtor launches housing project (April 24, 2009)
Drop in office space rentals (April 23, 2009)
Heera unveils 3 new projects in Kerala capital (April 22, 2009)
Stimulus package for construction industry sought (April 21, 2009)
Realty stocks gain ground (April 18, 2009)
Gulf Oil gets nod for site development (April 18, 2009)
... seek rent-free periods, cut in rentals (April 17, 2009)
Builders accuse cement cos of unfair practices (April 17, 2009)
Early signs of revival (April 12, 2009)
Renewed interest enthuses developers (April 12, 2009)
Unitech puts serviced apartment project on block (April 10, 2009)
Sobha Developers gets FIs' nod to restructure debt (April 10, 2009)
Tidel Park cuts lease rents by 10% (April 07, 2009)
Past prices perfect for now (April 05, 2009)
Lanka reconstruction opportunity (April 05, 2009)
Reverse mortgage a necessity (April 05, 2009)
Lower rates in realty (April 05, 2009)
Brigade Group to take up new realty projects (April 05, 2009)
Citigroup Property defers investments in Nitesh Estates (April 04, 2009)
'Mumbai, New Delhi among costliest cities for expatriate rentals' (April 04, 2009)
Jog Properties enters budget homes segment (April 01, 2009)
Realty prices continue downward trend in Oct-Dec quarter (April 01, 2009)
Fire Capital plans seven integrated township projects (April 01, 2009)
'Real estate sales expected to improve after Diwali' (March 30, 2009)
Land prices remain sticky (March 29, 2009)
Artificial sand, a viable alternative? (March 29, 2009)
HUL to sell Coonoor property (March 27, 2009)
Amendment to Registration Act hailed (March 26, 2009)
Garden City: DLF committed to refunding advance paid (March 24, 2009)
Real estate: Rationally sub-optimal, behaviourally optimal? (March 22, 2009)
The ground's perking up (March 22, 2009)
Rework Kerala's master plan (March 22, 2009)
Furnished offices flourish amid gloom (March 22, 2009)
BSCPL Infra to launch township in Chennai (March 21, 2009)
Ansal puts Gurgaon, Greater Noida IT SEZ projects on hold (March 20, 2009)
Lodha launches affordable home project in Mumbai (March 19, 2009)
Shriram Properties trims IT SEZ; to add residential space (March 18, 2009)
Maytas Infra seeks more time to close Hyderabad Metro finances (March 18, 2009)
Reserve price for Udhayam complex may be lowered (March 17, 2009)
Now, mall developers may have to foot fixtures' bill (March 16, 2009)
The well-heeled look ahead (March 15, 2009)
Be home-loan wise in a slump (March 15, 2009)
Realty prices 'will not go up for at least two years' (March 14, 2009)
Bid date for Chennai theatre sale extended (March 12, 2009)
Bearys Group plans green building in Mangalore (March 10, 2009)
Buyers negotiate prices as demand, property value dip (March 09, 2009)
Prices still a sales dampener (March 08, 2009)
Freeze after the frenzy (March 08, 2009)
Home truths on resale offers (March 08, 2009)
Aiming high (March 07, 2009)
'Realty sector likely to be under scanner next' (March 06, 2009)
XS Real offers free maintenance of apartments (March 06, 2009)
RBI may collect data of new housing units (March 06, 2009)
DLF to invest Rs 2,500 cr in projects near Chennai (March 05, 2009)
Project in Chennai: DLF working out a scheme to refund EMD (March 05, 2009)
Pune builder launches 'rent today, own tomorrow' scheme (March 04, 2009)
Low-cost township to have unique transport system (March 03, 2009)
DLF home buyers meet to discuss exit, price reduction (March 03, 2009)
Illegal buildings: Plea for agency to enforce rules (March 02, 2009)
Grasp the ground reality (March 01, 2009)
It's still advantage OMR (March 01, 2009)
'Bring down prices or else….' (March 01, 2009)
Trends in office rentals (March 01, 2009)
Maytas Infra files case against Vedanta (March 01, 2009)
Bangalore, second best performing office location in Asia: Survey (February 27, 2009)
Development levy: SC allows builders' pleas (February 26, 2009)
Pune builders working out 3-month relief package (February 26, 2009)
E&Y has overvalued Maytas Properties, says Govt (February 25, 2009)
'States spent just 25% of cess on workers' welfare' (February 24, 2009)
DLF cuts OMR project prices (February 24, 2009)
Country Club scouting for more properties (February 23, 2009)
Real estate market looking positive: Sobha Developers (February 22, 2009)
'Intelligent Bengaluru' is the goal (February 22, 2009)
Tiruchi airport gets new terminal (February 22, 2009)
Ahmedabad woos the middle-income group (February 22, 2009)
Banks with exposure to Maytas form monitoring panel (February 20, 2009)
Theatre property for sale in Chennai (February 20, 2009)
JM Financial looking at legal angles on Maytas exposure (February 19, 2009)
The tale of Maytas twins (February 18, 2009)
Matheran Realty begins commercial space sale (February 17, 2009)
Vipul project in Bhubaneshwar (February 15, 2009)
Now, an EMI holiday (February 15, 2009)
Bangalore property prices expected to fall 40% by June (February 12, 2009)
Maharashtra builders seek stimulus plan (February 11, 2009)
Special offer from KGEYES (February 10, 2009)
Buy now, but be wary (February 08, 2009)
Raju family pledged 15.14% shares held in Maytas Infra (February 07, 2009)
Golden Gate Properties plans more affordable homes in South (February 07, 2009)
Local planning authority in TN gets power to sanction building plan approvals (February 07, 2009)
Cybercity, Ashoka to develop integrated township project (February 07, 2009)
Hiranandani faces penalty, denies land misuse charge (February 06, 2009)
Service tax clarification may lower property prices, says CREDAI (February 06, 2009)
US-based Indian builder eyes unfinished realty projects (February 06, 2009)
Realty industry welcomes exemption from service tax on property sales (February 05, 2009)
Finance Minister to discuss realty sector woes with PSB chiefs (February 02, 2009)
Provident Housing offers 'affordable units' near Chennai (February 02, 2009)
Hyderabad realty in a flux (February 01, 2009)
A futures contract on real-estate? (February 01, 2009)
Bangalore rental market woos tenants (February 01, 2009)
Bangalore developers move to affordable housing segment (January 29, 2009)
Property tax: Mangalore City Corpn implements self-assessment scheme (January 28, 2009)
Mumbai woos wary buyers (January 25, 2009)
Fairpro 2009 (January 25, 2009)
Portal on housing information launched (January 21, 2009)
DRL gets notice on land deal with Sify (January 21, 2009)
Vedanta cancels Rs 233-cr Maytas Infra order (January 20, 2009)
Office space rentals dip across cities (January 19, 2009)
2009 looks 'positive' for real estate (January 17, 2009)
PSU banks want lowering of risk-weight on small home loans (January 17, 2009)
Mumbai realty cos to showcase budget homes (January 16, 2009)
Work on hold (January 14, 2009)
MCHI to host budget property expo (January 14, 2009)
HCC to build Rs 40,000-cr 'water front city' in Gujarat (January 13, 2009)
HCC to build Rs 40,000-cr 'water front city' in Gujarat (January 13, 2009)
A case for special residential zones (January 11, 2009)
UK investor to buy 86 units from Sunil Mantri Realty (January 11, 2009)
PPP, key to affordable housing (January 11, 2009)
Pune builders seek reduction in realty taxes (January 10, 2009)
Call to take back land allotted to Satyam for setting up SEZ (January 09, 2009)
'Banks reluctant to lend to realty' (January 07, 2009)
AP to build over 25 lakh houses (January 06, 2009)
Realtors woo disappointed DDA applicants (January 05, 2009)
Realty bubble (January 01, 2009)
Towards a new beginning (January 01, 2009)
Year : 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002
US gearing up for second wave of swine fluHindustan Times - 3 hours ago One of the worst hit nations, the US is gearing up for a second wave of the swine flu virus fearing a new attack that could lead to major disruptions in ... Govt grudges pvt help in flu fight Times of India Infant dies in Pune hospital, swine flu toll 18 IBNLive.com Swine flu disaster for 'Kaminey'Times of India - - 3 hours ago Yes, I can't deny that they are important, but I also can't deny swine flu," he said. Sandeep Bhargava of Indian films which is releasing Life Partner also ... Mumbai swine flu shutdown begins BBC News Kaminey swine flu: Mumbaikars to miss first day, first show Economic Times Azad briefs Cabinet on swine flu situationIBNLive.com - 59 minutes ago New Delhi: Union Health Minister Ghulam Nabi Azad on Thursday briefed the Cabinet on the swine flu situation in the India. ... Azad says won't wait for desi swine flu vaccine, will import Times of India Results of 40 suspected swine flu cases in Kerala awaitedTimes of India - 21 hours ago THIRUVANANTHAPURAM: With the first swine flu death in the state taking place at a private hospital late Tuesday night here, results of 40 more suspected ... Swine flu-struck Meghalaya demands testing centre in NETimes of India - - 10 hours ago SHILLONG: A day after the first swine flu case was reported in the state, the Meghalaya government on Wednesday called for setting up of a government ... Meghalaya confirms swine flu case, minister's niece flees ... Hindustan Times Meghalaya SAI complex isolated for swine flu Press Trust of India Swine flu patient under constant vigil in Meghalaya MorungExpress HC dismisses plea on swine fluTimes of India - 11 hours ago NEW DELHI: Supporting the government in its efforts to tackle Swine flu, Delhi High court on Wednesday refused to entertain a Public Interest Litigation ... HC dismisses PIL seeking directions to govt on swine flu Business Standard Court dismisses plea on swine flu SamayLive Swine flu: PIL seeks HC's intervention Times of India Malaysian coach tests negative for swine flu, dischargedTimes of India - 15 hours ago PTI 12 August 2009, 10:32pm IST HYDERABAD: The Malaysian badminton coach, who was hospitalised for showing Swine Flu-like symptoms, on Wednesday tested ... Malaysian badminton coach tests negative for swine flu Hindustan Times No fresh suspected flu cases Express Buzz 10 home remedies to avoid swine fluTimes of India - - 5 hours ago Are the rising swine flu casualties giving you jitters? Not sure how you can avoid falling prey to the growing epidemic? First and foremost, there is ... Indian natural herb Tulsi to fight back swine flu VoiceofSikkim - Do you have it in you? Swine flu-hit can now claim expenses under insuranceTimes of India - - 7 hours ago PUNE: Those who have tested positive for swine flu will be entitled to claim the expenses of their treatment as per the mediclaim policy they hold. ... Covered or not? Confusion reigns among insurance policy holders Expressindia.com Existing health policies to cover swine flu hospitalisation Hindu Business Line Swine flu bill hits Thomas CookBBC News - 4 hours ago Travel firm Thomas Cook has said the swine flu outbreak has cost it £12.6m - as people cancelled travel to Mexico and other destinations. ... Thomas Cook takes £12.6m swine flu hit Times Online Thomas Cook loss widens after swine flu MarketWatch |
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