| Professional
News |
| INCOME
TAX |
| Vodafone case hinges on Supreme Court
ruling in Sanofi row |
|
Delhi : A likely Supreme
Court ruling next month will make or break the much-touted
conciliation process between the Indian government and British
telecom giant Vodafone in a high-profile tax case.On April 1,
the apex court will likely give its views on the validity of
retrospective changes to the Income Tax Act approved by
Parliament in May 2012 in a similar case involving offshore
purchase of Indian assets by French drug major Sanofi Pasteur
Holdings.
|
| International
Taxation |
| Transfer pricing income adjustments
decline 14% in 2013-14 |
|
Intl : After a 54% jump in
transfer pricing (TP) adjustments to R70,000 crore last year,
additions to the income of companies conducting international
transactions has dropped by over 14% to R60,000 crore in FY14.
A financial ministry official told FE that data collated after
the completion of the latest round of audit pertaining to
assessment year 2010-11, shows that TP adjustments have fallen
mainly because the orders this year have taken into account
concerns raised by the MNCs after some high-pitched
adjustments last year.
|
| FM push for tax
pacts |
|
Intl : In an effort to
deliver on his promise of offering tax certainty, Finance
Minister P Chidambaram is trying to address the transfer
pricing woes of multinational companies by inking a few
Advance Pricing Agreements (APAs) before a new government is
formed after the Lok Sabha polls in April-May.APAs can help
avoid recurrence of transfer pricing disputes between the
income tax authorities and MNCs. The tax department is
currently embroiled in transfer pricing rows with Vodafone and
Shell.
|
| CUSTOMS |
| Rangarajan dashes bullion firms' duty
cut hopes |
|
Maharashtra : The jewellery
industry and bullion traders’ hopes of easier gold import
rules might be dashed, with Prime Minister’s Economic Advisory
Council Chairman C Rangarajan ruling out a rethink on the
issue.In an interview with Business Standard, Rangarajan said
he believed the existing import rules and duties were
reasonable. “The 10 per cent import duty on gold is not high
if one looks at the duty on import of other luxury goods,” he
said.
|
| SEBI |
| SEBI ordinance may be
re-promulgated |
|
Delhi : The Union Cabinet
may consider re-promulgating the SEBI ordinance next week.
However, since the model code of conduct for the general
elections is in force, this can happen only after the Election
Commission’s (EC) approval.Once approved, the ordinance will
give enhanced power to the capital market regulator to act
against ponzi and illegal deposit schemes, besides accessing
call data records in securities-related offences.
|
| RBI |
| RBI checking if RoC-registered firms
are involved in non-banking business |
|
West Bengal : The RBI is
running a check on a large number of companies registered with
the Registrars of Companies to see if they have directly or
indirectly indulged in ‘activities’ designated for non-banking
finance companies.Last year, RBI had asked the large pool of
companies to file their balance sheets and activity related
documents.Various non-banking financial intermediaries could
be registered with the RoCs without being registered with the
RBI.
|
| Misc. Corporate Laws
& Other Commercial Policies |
| Holding out on holding companies
self-defeating: Analysts |
|
Delhi : The ongoing review
of the bilateral investment promotion and protection
agreements (BIPAs) and the comprehensive economic cooperation
agreements to make the rules more stringent by disallowing
investments through holding companies could put off foreign
investors, say experts.They caution that not recognising the
holdco route might create a perception that doing business in
India is difficult.
|
| Commodities |
| Jewellery exports lose sheen as gold
buying turns tougher |
|
West Bengal : Gem and
jewellery exports from India are likely to drop by 10% to $34
billion in the current fiscal due to a sharp decline in pure
gold jewellery exports. Even though demand from the US,
Europe, Japan and West Asia is stable, exporters say they
cannot complete the orders due to procedural delays in
obtaining imported gold.
|
| Copper registers biggest drop in 2
years on China demand concern |
|
Delhi : Copper futures in
New York capped the biggest loss in more than two years as
China's first onshore default stoked concern that rising debt
will curb demand in the Asian nation, the world's largest
consumer. After Shanghai Chaori Solar Energy Science &
Technology failed to pay full interest on its bonds, more
defaults may follow, including by makers of nonferrous metals,
said Qiu Xinhong, a bond-fund manager in Guangzhou at Golden
Eagle Asset Management. Copper stockpiles monitored ..
|
| MERGER &
ACQUISITION - NATIONAL |
| Singhi Advisors buys 15% in UK’s
Mergers-Alliance |
|
Maharashtra : Investment
banking firm Singhi Advisors has acquired 15% stake in the
UK-based global investment banking network Mergers-Alliance as
it tries to explore cross-border acquisition opportunities and
expand its global footprint.The deal makes the Mumbai-based
investment bank an equal partner in the global alliance along
with its five other founding partners. The founding members of
the 20-member alliance include Catalyst of Britain, Ethica of
Italy and Norgestion of Spain.
|
| Pension/Provident
Fund |
| EPFO to provide Annexure-K online to
Private PF trusts |
|
Delhi : Aiming at expediting
transfer of PF accounts of employees joining firms having
private PF trusts, the retirement fund body EPFO has decided
to make available online 'Annexure-K', a document which
contains details of accounts, to new employers. According to a
circular issued by the Employees' Provident Fund Organisation
(EPFO) to its field staff, the 'Annexure -K' will be provided
online to private PF trusts to expedite transfer of PF
accounts.
|
| Tenders
& Assignment |
Rural Development And Panchayati Raj Department -
Davanagere Karnataka  |
Description :Independent
Concurrent Audit of the Schemes of Rural Development &
Panchayat Raj Department in Karnataka Last
Date : 15/04/2014 Address
:Rural Development And Panchayati Raj Department,MS
Bldg, 3rd Gate, 2nd Floor RDPR Dept, GoK,
Bangalore 080-22342162 E-Mail :nregs-ka@nic.in
|
| Rural Development And Panchayati Raj Department -
Chickballapur Karnataka |
Description :Independent
Concurrent Audit Of The Schemes of Rural Development &
Panchayat Raj Department In Karnataka. Last
Date : 15/04/2014 Address
:Rural Development And Panchayati Raj Department,MS
Bldg, 3rd Gate, 2nd Floor RDPR Dept, GoK, Bangalore
080-22342162 E-Mail :nregs-ka@nic.in
|
| Reminders |
| Tenders |
| Karnataka Rural Road Development
Agency 11/03/2014
|
| Bihar Health & Family Welfare
Department 11/03/2014
|
| National Health Mission, U.T.
Chandigarh 11/03/2014
|
| Municipal Corporation - Khandela Sikar
Rajasthan 11/03/2014
|
| Northern Coalfields
Limited 12/03/2014
|
| Navodaya Vidyalaya Samiti - Hyderabad - Andhra
Pradesh 12/03/2014
|
| Uttarakhand State Council For Science And
Technology 12/03/2014
|
| State Project Facilitation
Unit 12/03/2014
|
| Air Force Station - Agra Uttar
Pradesh 13/03/2014
|
| BIHAR EDUCATION PROJECT
COUNCIL 13/03/2014
|
| Panchayat Samiti - Chittorgarh Rajasthan
13/03/2014
|
| Irrigation Department Lucknow - Uttar
Pradesh 14/03/2014
|
| Municipal Corporation - Bundi
Rajasthan 14/03/2014
|
| Commissioner Of Income-Tax-5,Government Of
India 14/03/2014
|
| D N P Limited - Dibrugarh -
Assam 14/03/2014
|
| State Health Society -Chandigarh Punjab
14/03/2014
|
| Western Coalfields Limited - Nagpur
Maharashtra 15/03/2014
|
| Karnataka State AIDS Prevention
Society 15/03/2014
|
| Board Of Secondary
Education 15/03/2014
|
| National Horticultural
Board 15/03/2014
|
| District Panchayat - Mandla Madhya
Pradesh 17/03/2014
|
| |
| Notifications
& Circulars |
| INCOME
TAX |
| Circular No.
07/2014 (Delhi) 10/03/2014
|
| Ex-post facto extension of due date for filing TDS/TCS
statements for FYs 2012-13 and 2013-14 – regarding |
| |
|
 |
| Economy |
| India |
| PE investors eye distressed assets in
India |
| India Inc beats Chinese peers in financial
health |
| Gas price set to be doubled from April
1 |
| Fertiliser consumption set to fall for second
year running |
| Andhra Pradesh government looks to sell stakes in
Hyderabad infra projects |
| Pakistan in a rush to seal deal for more market
access before polls |
| |
| International |
| China’s tame Feb CPI gives room for policy
easing |
| US stocks likely to maintain rally after strong
jobs data |
| As economy improves, for-profit arson drops in
Dallas |
| Japan's deficit hits record as economic growth
slows |
| |
| Markets
Today |
| NSE |
6,491.70
|
|
| BSE |
21,934.83
|
|
| NASDAQ |
4,336.22
|
|
| |
|
|
| USD |
61.10
|
|
| EURO |
84.66
|
|
| JPY(100) |
59.32
|
|
| GBP |
101.46
|
|
|
| |
| Corporate
Watch |
| Vodafone's ownership in Indian arm may be
probed |
|
Delhi : The department of economic
affairs (DEA), ministry of finance, has written to the
department of telecommunications to look into the security
concerns the ministry of home affairs (MHA) had expressed on
the proposal of Vodafone Plc, the London-based multinational
corporation, to increase its stake in Vodafone India to 100
per cent.The letter was written on February 20, two weeks
after the Cabinet Committee of Economic Affairs (CCEA) had
approved the 100 per cent ownership proposal of Vodafone Plc
in Vodafone India, at a proposed investment of Rs 10,141
crore.
|
| Nasscom shows interest in Israel
start-ups |
|
Maharashtra : Israel, far smaller
than India, has managed to report the second highest number of
merger and acquisition (M&A) transactions in the start-up
products space. And, the nascent but fast growing Indian
start-up system wants to understand why.Nasscom, the body
representing the $108-billion Indian information
technology-business process management sector, is set to take
its first delegation to Israel, to collaborate with the
start-up ecosystem there.
|
| KKR to lend Rs 2,000 crore to Hotel
Leelaventure |
|
Maharashtra : Kohlberg Kravis
Roberts & Co., the globally renowned buyout firm will
widen its money-lending activity in India, possibly lending as
much as Rs 2,000 to Hotel Leelaventure Ltd, against two prime
properties, two bankers familiar with the negotiations
said.The hospitality chain promoted by Captain CP Krishnan
Nair and partly owned by ITC, has reached out to the buyout
firm as it has been unable to raise resources as stipulated
during its previous loan restructuring package, said the
bankers who did not want to be identified. Its debt is more
than Rs 4,700 crore.
|
| Brands and retailers team up to offer 0%
EMI schemes |
|
West Bengal : Zero percent EMI
schemes are back. Not that they'd gone away altogether, but
offers had dwindled as banks got cold feet after the Reserve
Bank of India frowned upon the practice because it seemed to
be a way of concealing charges. However, with customers
staying away, retailers are entering into business
arrangements with brands to draw them back to showrooms,
bypassing the banks.
|
| FTIL likely to invite bids for MCX stake
this week |
|
Maharashtra : Under pressure from
the MCX board and possibly prodded by some of its shareholders
to divest its stake in the country's leading commodity
exchange, Financial Technologies (India) (FTIL) will invite
bids as early as this week from parties interested in buying
up to 24% of its holding, a few persons aware of the
development said. FTIL is anchor investor of MCX with 26%
holding. The company is expected to do this through a public
advertisement, said the persons.
|
| |
| Tenders
& Assignment |
| Maharashtra State Co-Operative Marketing
Federation Limited |
Description :Appointment of
Charted accountant firms, Charted account for work of Internal
audit & Movable & immovable stock verification.
Last Date : 18/03/2014
Address :Maharashtra State
Co-Operative Marketing Federation Limited,Kanmoor House.Narsi
natha St.Masjid,Mumbai-400009. Phone
:23752294 E-Mail :managervalbhav@mahamarkfed.org
|
| National Rural Health Mission - Guwahati
Assam |
Description :Selection of
Auditors request for proposal Hiring Services of Chartered
Accountant Firm for Statutory Audit of State health Society
(SHS) and District Health Society (DHS) for the Financial Year
2013-14 under National Health Mission. Last
Date : 18/03/2014 Address
:National Rural Health Mission,Saikia Commercial
Complex,G.S.Road, Christianbasti,Guwahati-05
E-Mail :misnrhm.assam@gmail.com
|
| National Rural Health Mission - Port Blair
Andaman And Nicobar |
Description :Hiring Services
of Chartered Accountant Firm For Statutory Audit Of State
Health Society (Shs) & Distinct Health Society (Dhs)-(For
The Financial Year 2013-14) Under National Health Mission
(Nrhm). Last Date : 22/03/2014
Address :Office Of State Health
Society,1st Floor,Ayush Hospital,Atlanta Point port Blair
744104 South Andaman Phone
:03192-234965 E-Mail :nrhm.anislands@gmail.com
|
| Food Corporation Of India - Punjab
Region |
|
Description :Appointment of
Firms of Chartered Accountants Constituting Partnership Firm
Or Limited Liability Partnership Firm For Undertaking Internal
Audit & Physical Verification Of Stocks In Fci Punjab
Region.
Last Date : 02/04/2014
Address :Asstt. Genl. Manager
(Audit), Zonal Office (North), A-2A, A-2B, Sec-24, Noida,
Uttar Pradesh- 201301
|
| Uttaranchal Gramya Vikas Samiti |
|
Description :Request for
proposal from chartered accountants firms for internal audit
for the financial year 2013-14
Last Date
: 05/04/2014
Address
:Uttrakhand Gramya Vikas Samiti (UGVS) 216,Pandit
Warl-II,Dehradun,248007
Phone
:0135-2773800
|
| Rural Development And Panchayati Raj Department -
Bangalkot Karnataka |
Description :Independent
Concurrent Audit of The Schemes of Rural Development &
Panchayat Raj Department In Karnataka Last
Date : 15/04/2014
CAddress :MS Bldg,
3rd Gate, 2nd Floor RDPR Dept, GoK, Bangalore 080-22342162
E-Mail :nregs-ka@nic.in
|
| Rural Development And Panchayati Raj Department -
Tumkur Karnataka |
Description :Independent
Concurrent Audit of The Schemes of Rural Development &
Panchayat Raj Department In Karnataka. Last
Date : 15/04/2014 Address
:MS Bldg, 3rd Gate, 2nd Floor RDPR Dept, GoK,
Bangalore 080-22342162 E-Mail :nregs-ka@nic.in
|
| Rural Development And Panchayati Raj Department -
Haveri Karnataka |
Description :Independent
Concurrent Audit of the Schemes of Rural Development &
Panchayat Raj Department in Karnataka Last
Date : 15/04/2014 Address
:MS Bldg, 3rd Gate, 2nd Floor RDPR Dept, GoK,
Bangalore 080-22342162 E-Mail :nregs-ka@nic.in
|
| |
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