Business

Personal IT base must be before corporate tax cut Adhia

We said we would love to do it for everyone. But we have the constraint of budget.” Two years after it announced plans to reduce corporate tax rate to 25 per cent, the government on Saturday said any such reduction can come after the spread of personal income tax is …

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‘25 coal mines to be auctioned in 2017-18’

The Centre will auction 25 coal mines in 2017–18, four of which will be reserved for commercial mining, Coal Secretary Susheel Kumar said on Thursday. The details of the locations of the mines and the rules for the auctions will be disclosed soon, Mr. Kumar told the media. Mines Secretary …

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Banks must focus on information security: Mundra

Reserve Bank of India Deputy Governor S.S. Mundra has asked banks to articulate the role of chief information security officers (CISO) clearly as the central bank was not comfortable with banks’ approach to the significance of the role. “The involvement of the board/senior management in appointing chief information security officers …

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RBI cautions against virutal currencies

The Reserve Bank of India (RBI) has cautioned the users, holders and traders of virtual currencies (VCs), including Bitcoins, about the potential financial, legal and security–related risks. “RBI advises that it has not given any licence/authorisation to any entity / company to operate such schemes or deal with Bitcoin or …

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Mistry moves Company Law Appellate Tribunal against Tata Sons EGM

The petition moved by Mistry’s investment company has been slated to come up for hearing on Friday. Tata Sons’ ousted Chairman Cyrus Mistry on Thursday approached the New Delhi-based National Company Law Appellate Tribunal (NCLAT) for an injunction against the proposed extra-ordinary general meeting (EGM) of the Tata Group’s holding …

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RCom-Aircel deal hinges on SC order

MUMBAI: Even as the special CBI court has dropped all charges against the Maran brothers in the 2G case, the fate of the merger deal between Reliance Communications (RCom) and Aircel still depends upon the outcome of the Supreme Court order on Friday as the trial court had segregated the …

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TRAI clean chit for Jio tariff offers

Reliance Jio’s promotional tariff plans comply with existing regulations and tariff orders, the Telecom Regulatory Authority of India (TRAI) has said in response to complaints from leading incumbent telcos. Bharti Airtel, Idea Cellular and Vodafone had urged the telecom regulator to examine Jio’s free voice and data offerings till March …

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Tax dodgers should fear the consequences: Hasmukh Adhia

People are now more alert about the tax authorities, Revenue  Secretary Hasmukh Adhia said on Thursday, citing the record 34% spike in advance personal income tax payments this year. He also defended the Budget’s conservative estimate of 12% growth in tax revenues in 2017-18, compared to 17% this year, and said this had …

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