| Professional
News |
| International
Taxation |
| Transfer pricing on home
turf Article |
|
Domestic transfer pricing regulations cover
payments made or to be made to specified domestic related
parties. This term itself is very wide, a domestic related
party will include a director, a relative of a director, a
person having substantial interest in the company (i.e. -
carrying not less than 20% of the voting power) or if a person
holds substantial interest in two or more companies then such
companies are also treated as related parties.
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| Misc. - Direct
Tax |
| Commerce Ministry pitches for
lowering MAT on SEZs |
|
Delhi : The Commerce and
Industry Ministry is pushing for lowering of minimum alternate
tax on Special Economic Zones (SEZs) in the forthcoming Budget
as it has led to flight of proposed investments from the
zones.
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| SEBI |
| Sebi clears the air over ‘beneficial
ownership’ to check black money |
|
Maharashtra : Capital market
regulator Sebi has tightened rules to identify "beneficial
ownership" of assets, companies and trust to counter the
menace of black money and money laundering.
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| RBI |
| RBI raises FII limit in govt, corp
bonds by $5 bn each |
|
Maharashtra : To attract
foreign funds into the bond market, the Reserve Bank of India
( RBI) on Thursday raised the ceiling for foreign
institutional investors (FII)’s holdings in government
securities and corporate bonds by $5 billion each.
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| Differential rates only for deposits
above Rs 1 cr |
|
Maharashtra : The Reserve
Bank of India on Thursday revised the definition of wholesale
(bulk) deposits for payment of differential interest rates. It
said banks can pay differential rates of interest for deposits
above Rs 1 crore. Earlier, this limit was Rs 15
lakh.
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| RBI asks banks to issue Tier II bonds
to retail investors |
|
Maharashtra : The Reserve
Bank today asked banks to issue bonds to retail investors so
as to deepen the corporate debt market."With a view to
deepening the corporate bond market in India through enhanced
retail participation, banks, while issuing subordinated debt
for raising Tier II capital, are encouraged to consider the
option of raising such funds through public issue to retail
investors," RBI said in a notification.
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| Finance & Money
Markets |
| FIIs get nod to buy $10 bn more of
bonds; limit on tenure eased |
|
Maharashtra : The Reserve
Bank of India (RBI) on Thursday raised the investment limit
for foreign institutional investors (FIIs) in the bond market
by $10 billion to $75 billion, raising the caps for government
and corporate bonds by $5 billion each.
|
| Investors raise a stink over
governance, maul mid-caps |
|
Maharashtra : Panic selling
in mid-cap counters following a slump in the share prices of
realty developer HDILBSE 7.30 % and infra major IVRCLBSE 7.58
% resulted in BSE's Mid-cap index falling 2.5% on Thursday
against a half percent decline in the Sensex.
|
| Experts welcome takeover code changes
as they nix price volatility |
|
Delhi : The recent changes
made by the SEBI in the Takeover Code to insulate transactions
from price volatility and minimise scope for open offer price
manipulation, have evoked mixed response from experts.While
most welcomed the move, some raised doubts about its utility
if shareholders were to later reject the special
resolution.
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| Pre-Budget
2013-2014 |
| Telecom sector’s Budget Wish
List |
|
Delhi : The Indian Telecom
sector is going through a very difficult period, caused by low
revenue growth, high pressure on margins, huge investments
made in 3G and finally the 2G scam. The Telecom Sector is
expecting substantial incentives from the Finance Minister in
his budget proposals for 2011-12.
|
| Budget wish-list: Real estate body
seeks tax sops, infrastructure status |
|
Maharashtra : In the run up
to the upcoming Union Budget next month, real estate
developers’ body CREDAI, has presented a wish list to the
Finance Minister, which includes the demand for an inclusive
housing policy and tax incentives.
|
| Commodities |
| Gold slips to 1-week low as
investors' confidence wanes |
|
Gold fell to a one-week low on Thursday after
a repeated failure to break above a key chart level hurt
investors' confidence in the metal, and as U.S. policymakers
postponed talks on extending the U.S. debt ceiling.A recovery
in gold prices this month ran out of steam as the metal hit
strong resistance at $1,695, its 55-day moving average and
early January high.
|
| Pension/Provident
Fund |
| Construction sector workers may be
kept out of PF net |
|
Delhi : The government is
looking at keeping workers in the cashstrapped construction
sector out of the provident fund (PF) net. India's second
largest employer after agriculture, the building and
construction industry has impressed upon policy makers that
over Rs 25,000 crore remitted to the PF system is hardly ever
used by the workers it is intended for.
|
| Banking |
| Wait for banking licence norms set to
get longer |
|
Maharashtra : The final
guidelines for new banking licences could take a while,
contrary to expectations that the Reserve Bank of India (RBI)
would announce those by month-end. Banking aspirants have been
keenly awaiting the norms since the draft guidelines were
issued about a year and a half
back.
|
|
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| Economy |
| India |
| Govt kickstarts selloff talks for next fiscal, to
seek cabinet approval for divestment in cos |
| March inflation projection may be
cut |
| Ahead of policy review, RBI guv and FM discuss
macro-economy |
| |
| International |
| Central Bankers Warn Over Yen
Policy |
| China leaps ahead as Europe ambles
forward |
| |
| Markets
Today |
| NSE |
6,074.65
|
0.92%
|
| BSE |
20,103.53
|
0.90%
|
| NASDAQ |
3,130.38
|
-0.74%
|
| |
|
|
| USD |
53.87
|
|
| EURO |
72.38
|
|
| JPY(100) |
59.22
|
|
| GBP |
84.99
|
|
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| |
| Corporate
Watch |
| Mukesh Ambani's RIL arm may buy stake in
Anil's RCOM tower subsidiary Infratel & lease 50k
towers |
|
Maharashtra : The telecom arm of
Reliance Industries, owned by billionaire MukeshAmbani, may
buy a stake in Reliance Infratel, a company belonging to his
brother Anil that operates telecom towers, in a complex deal
that also includes leasing as many as 50,000 towers.Two people
close to the ongoing negotiations said the deal had two
components.One part is a leasing arrangement valued at Rs
8,500-10,000 crore over a 10-year period. One of the people
said a part of the lease amount will be paid up front. If the
lease deal fructifies, it will enable RILBSE -0.53 % to use
nearly 50,000 towers of Reliance Infratel, a subsidiary of
Reliance Communication, or RCOM, India's third-largest telecom
company by subscribers.
|
| Court stays excess spectrum fee collection
till March |
|
Delhi : In a breather to incumbent
mobile companies, the Bombay High Court has issued a stay
order on the Government’s decision to collect a one-time fee
for excess spectrum.The Court has told the Department of
Telecom (DoT) not to take any coercive action until March
1.The stay order was based on a petition filed by Idea
Cellular challenging the DoT order to pay the one-time
fee.OPERATORS’ VIEWSWhile Idea Cellular gets immediate relief,
other operators said they would also file a petition and seek
a stay on the DoT order.“We have been saying that the decision
to collect the one-time fee was illegal. All spectrum with the
operators has been allocated by the Government under policies
prevalent at that time,” said a Mumbai-based
operator.
|
| Coromandel Intl to buy Liberty
Phosphate |
|
Andhra Pradesh : Fertiliser maker
Coromandel International announced on Thursday that it will
buy the the promoters’ stake of 56 per cent in Liberty
Phosphate Ltd at Rs 241 a share.The firm, part of the Rs
22,000-crore Murugappa Group, will also make an open offer to
acquire a further 26 per cent stake from shareholders at the
same price. The total acquisition cost for Coromandel,
depending on the subscription of the public offer, will range
between Rs 348 and Rs 375 crore.“The entire acquisition will
be funded through our internal accruals. The buy will make
Coromandel amongst India’s leading single super phosphate
makers with a total capacity of over one million tonnes,” A.
Vellayan, Executive Chairman, Murugappa Group, told
mediapersons here.
|
| |
| Tenders
& Assignment |
Bangladesh Telecommunication Regulatory
Commission ![]() |
Description :Request for Expressions of
Interest (EOI) for Selection of Audit Firm (International) for
Information System Audit of Cellular Mobile Operators in
Bangladesh.
Last Date : 22/02/2013
Address :Bangladesh
Telecommunication Regulatory Commission (BTRC) , IEB Bhaban
(5,6 &7th Floor), Ramna, Dhaka-1000, Bangladesh.
Phone :8802-7162277 |
| |
| Reminders |
| Tenders |
| Paschimanchal Vidyut Vitran Nigam
Limited 26/01/2013
|
| Punjab State Forest Development Corporation
Limited 28/01/2013
|
| Gvk Emergency Management And Research
Institute 28/01/2013
|
| Krishna Bhagya Jala Nigam
Limited 28/01/2013
|
| Central Co-operative Bank
Limited 31/01/2013
|
| Madhya Pradesh Power Generation Company
Limited 31/01/2013
|
| |
| Notifications
& Circulars |
| SEBI |
| CIR/CFD/DIL/4/2013
(Delhi) 23/01/2013
|
| Application Supported by Blocked Amount (ASBA)
facility |
| RBI |
| RBI/2012-13/391 (Delhi)
;24/01/2013
|
|
Foreign investment in India by SEBI
registered FIIs in Government securities and corporate
debt
|
| RBI/2012-13/394 (Delhi)
;24/01/2013
|
|
Memorandum of Instructions for Opening and
Maintenance of Rupee / Foreign Currency Vostro Accounts of
Non-resident Exchange Houses
|
| RBI No.
2012-13/392 (Delhi) 24/01/2013
|
|
Retail issue of Subordinated Debt for raising
Tier II capital
|
| RBI/2012-13/393 (Delhi)
;24/01/2013
|
|
Interest Rates on and Premature Withdrawal of
Rupee Term Deposits
|
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