| Professional
News |
| INCOME
TAX |
| I-T asks e-filers of tax returns to
send ITRV by speed post |
|
Delhi : If you are filing
online your Income Tax return, the paper copy of the 'ITRV'
should only be sent through "speed post" to the Central
Processing Centre (CPC) of the department in Bengaluru. ITRV
or 'Income Tax Return - Verification' form is issued as an
acknowledgement to returns filed online. As part of
facilitating better taxpayer services,
|
| International
Taxation |
| Multinational companies rush to seal
tax pacts in advance |
|
Intl : Multinational
companies have rushed to hammer out agreements that lock in
their tax liabilities in India for the next five years through
the Advance Pricing Agreement programme, putting behind their
outrage over what's been perceived as the government's
aggressive tax practices. More than 240 companies have signed
up for APAs for the next fiscal even before the first one is
signed on Monday in a bid to avoid being saddled with demands
that inevitably lead to long-drawn disputes.
|
| EXCISE |
| Excise break short-lived with car
prices set to rise |
|
Delhi : Cars from almost
every manufacturer — Maruti Suzuki, Hyundai, Renault, Honda,
Tata Motors and Mahindra & Mahindra (M&M) — are
expected to cost more from April 1 as they raise prices barely
a month after they lowered them by 4-6% following an excise
duty cut. Buyers will likely pay around 1-2% more as companies
want to cash in on improving demand and recover more to make
up for cost increases.
|
| SEBI |
| Sebi's merger veto to block back-door
delistings |
|
Maharashtra : The Securities
and Exchange Board of India's (Sebi's) power to block merger
transactions could act as a measure, albeit temporarily, to
address a potential regulatory grey area created by the new
Companies Act provision that appears to be paving the way for
back-door delistings. The Act allows an unlisted company to be
merged with a listed company where the resultant entity can be
an unlisted
|
| Re-promulgation of ordinance to boost
Sebi power: FinMin |
|
Delhi : The finance ministry
on Sunday confirmed President Pranab Mukherjee had
re-promulgated the Securities Laws (Amendment) Ordinance,
2014, that seeks to empower the Securities & Exchange
Board of India (Sebi) to effectively check illegal deposit
taking and Ponzi schemes. “The promulgation of this ordinance
would not only ensure the continuance of the actions already
initiated by Sebi but also strengthen its enforcement powers,
while bringing inbuilt checks and balances,” the ministry
said.
|
| COMPANY
LAW |
| Corporate Affairs Ministry clears air
on depreciation schedule for firms |
|
Delhi : The Corporate
Affairs Ministry has made changes in the depreciation schedule
under the new company law to avoid confusion among
stakeholders and introduce consistency in its recent
guidance,As a result, now there will not be two classes of
companies for depreciation purposes, as was indicated in the
new company law schedule.Second, the Ministry has restored
revenue-based amortisation for toll roads built under
public-private partnerships.
|
| MCA-21: e-filing services to be
suspended from April 1 to 13 |
|
Delhi : The Corporate
Affairs Ministry has decided to temporarily suspend, from
April 1-13, e-filing service under MCA-21. This is intended to
facilitate smooth transition to the new company law, sources
close to the development said.The MCA-21 portal is the
electronic backbone for dissemination of information to all
stakeholders, including the regulator, corporates and
investors.In the April 1-13 period,
|
| RBI |
| RBI may keep rates unchanged on
Tuesday |
|
Delhi : The Reserve Bank of
India (RBI) may maintain the status quo in the upcoming annual
monetary policy on April 1 as retail inflation, especially in
food items, is yet to show definite signs of moderation. "It
would be quite a tough call for the RBI in the given
scenario... I expect the RBI to maintain the status quo," HSBC
country head Naina Lal Kidwai said. RBI too had earlier
indicated that its priority would be to bring down inflation,
|
| RBI prevents rerun of liquidity
crisis in March |
|
Maharashtra : Short-term
rates this time bucked the trend of remaining elevated towards
the end of fiscal year, as central bank measures helped in
avoiding the liquidity crisis typically seen in March. The
banking system usually runs short of money close to the end of
the fiscal year as companies withdraw funds to pay advance tax
and the government cuts spending.
|
| IRDA |
| Safety Rating System planned for cars
may be linked to insurance |
|
Delhi : The government plans
to formulate a safety rating system for cars based on their
robustness, in the light of several issues being raised over
the quality of vehicles made in the country, and the rules if
implemented may be linked to lower insurance premiums. Talks
will be held with the Insurance Regulatory and Development
Authority (IRDA) on improving safety and lower insurance
premiums to entice the customer.
|
| Misc. Corporate Laws
& Other Commercial Policies |
| DoT forms committee for segregating
revenues from BWA spectrum |
|
Delhi : The Department of
Telecom has constituted a 5-member committee that will look
into the segregation of revenues earned by telecom operators
from the use of Broadband Wireless Access spectrum.According
to sources, DoT has asked operators to put in place a system
within 6 months for monitoring and verifying the revenues
earned from BWA spectrum. "The competent authority has
approved the formation of a committee to ensure satisfaction
of the licensor for segregation of revenues said a source.
|
| Finance & Money
Markets |
| Leapfrog invests $29 million in IFMR
Capital Finance |
|
Maharashtra : US-based
Leapfrog Investment has bought a minority stake in financial
services provider IFMR Capital Finance for $29 million (Rs 174
crore).IFMR helps microfinance firms, small businesses,
affordable housing companies and commercial vehicle financiers
raise money on the debt markets. The non-banking finance
company raises debt financing for these companies in these
segments through a variety of instruments, including
securitisation,
|
| Rupee likely to appreciate, yields
might fall |
|
Maharashtra : The rupee is
expected to appreciate further from the current levels, while
government bond yields might drop. The movement of the rupee
and government bond yields will, to a great extent, depend on
the outcome of the Reserve Bank of India's (RBI) bi-monthly
monetary policy to be announced on Tuesday. The broad
expectation of the Street is that key policy rates will be
unchanged, thanks to softening inflation.
T
|
|
 |
| Economy |
| India |
| Leather exports up 17.5% in
April-Jan |
| Executives likely to get hikes of 15-20% in
FY15 |
| ET round table: Bullish on revival, experts pat
government's back on reforms |
| Power deficit shrinks to 3.3% in February as
slowdown drags on |
| |
| International |
| Healthy job growth could calm stocks’
nerves |
| China Saved Lake From Stink, With Fiscal Cleanup
for Li: Economy |
| Over €3 million injected into the Gozitan
economy, Gozo Minister |
| Taiwan, US to hold trade talks in
April |
| |
| Markets
Today |
| NSE |
6,704.20
|
|
| BSE |
22,386.27
|
|
| NASDAQ |
4,155.76
|
|
| |
|
|
| USD |
59.90
|
|
| EURO |
82.61
|
|
| JPY(100) |
58.07
|
|
| GBP |
99.67
|
|
|
| |
| Corporate
Watch |
| Tata Group's Trent yet to divest stores in
states opposed to retail FDI |
|
Maharashtra : Tata Group's Trent
Hypermarket, which entered into a joint venture with UK's
Tesco, is yet to divest one-fourth of its total stores that
are in states opposed to FDI in multi-brand retail. According
to sources, the company has three options — to demerge the
stores in the parent company, to close down the stores or even
sell them to an Indian entity.
|
| No takers for ultra luxury cars amid slump;
Agera, Buggati Vyron fail to attract billionaire
clubs |
|
Delhi : Facing the worst slow down
in a decade, political instability and a sluggish economy, the
demand for cars has slowed down. The slowdown has virtually
eroded the market for ultra-luxury top-end vehicles, forcing
many of these marquee brands to exit the market. Swedish car
Agera, which retailed at around 16 crore, has failed to find
any customers during its three years of existence in India,
while Buggati Vyron, which is sold at 35 crore, has not
generated much interest or any single customer.
|
| Blackberry’s pricing strategy a flop:
Analysts |
|
Delhi : The slew of recent press
statements about BlackBerry sales have only highlighted how
miserably the company has failed in its pricing strategy in
India, one of its most important markets, say analysts. The
struggling Canadian smartphone maker has badly slipped up in
India as its strategy to price its devices on the premium side
backfired and most smartphone users picked up low-cost Android
devices instead, they added.
|
| Tata Steel to start Kalinganagar production
in fourth quarter of FY15 |
|
Delhi : Tata Steel will start
production from its greenfield plant at Kalinganagar in Odisha
from the last quarter of the next fiscal. “The Kalinganagar
project is going on. It will start production from the fourth
quarter of next fiscal,' Tata Steel MD TV Narendran said. The
Odisha project is the second integrated unit of the home-grown
steel major in India after Jamshedpur, where it recently
completed brownfield expansion to enhance capacity to 10
million tonne per annum (mtpa).
|
| Infosys looks to rope in Israeli firm
Goldratt Consulting to improve
productivity |
|
Karnataka : Infosys is in
discussions with an Israeli management consultancy that counts
top global corporations as its clients for a project to
dramatically improve productivity in its business, according
to people familiar with the matter.The Bangalore-based
company, which is aiming for a return to industry-leading
growth and margins under chairman NR Narayana Murthy, is
considering engaging the Israeli firm to help its operations
become more efficient while also accelerating its top line
growth, the sources said on condition of anonymity.
|
| |
| Tenders
& Assignment |
Sarva Shiksha Abhiyan  |
|
Description :Engagement of
Statutory Audit of the accounts of Sarva Shiksha Abhiyan
Programme being implemented in the State of Punjab, for the
Financial Year 2013-14. SSA will engage zone-wise ie different
firms for Audit of Districts & Head Office &
compilation of Audit reports into final Audit report.
Last Date : 21/04/2014
Address :SSA Punjab,Education Board
Bhavan,Block E,Vth Floor,SAS Nagar,Mohali
|
| |
| Reminders |
| Tenders |
| Central Mine Planning And Design Institute
Limited 01/04/2014
|
| Food Corporation Of India - Punjab
Region 02/04/2014
|
| Rajcomp Info Services Limited
(RISL) 02/04/2014
|
| Bharat Bhari Udyog Nigam
Limited 03/04/2014
|
| Food Corporation Of India - Zonal Office,
(South), Chennai 04/04/2014
|
| Uttaranchal Gramya Vikas
Samiti 05/04/2014
|
| Housing And Urban Development Corporation
Limited 07/04/2014
|
| |
| Notifications
& Circulars |
| SEBI |
| CIR/IMD/FIIC/6/2014 (Maharashtra) 28/03/2014
|
| Commencement of Foreign Portfolio Investor ("FPI") regime.
|
| |
|
No comments