| Professional
News |
| INCOME
TAX |
| Director’s cut to be screened more
closely by taxman |
|
Delhi : Corporate chiefs
such as Reliance Industries Mukesh Ambani, ITC Ltd YC
Deveshwar and Tata Consultancy Services N Chandrasekaran would
need to justify in unprecedented details why they take home
heavy pay packets if the companies they run are to avoid
reassessment of income and extra tax demands.In the first
audit cycle after executive pay was brought under transfer
pricing provisions in the Finance Act of 2012,
|
| Taxpayers to get Digital IDs for
E-filing Returns |
|
Delhi : In order to weed out
the hassle of sending by post a hard copy of e-filed return,
the incometax department has decided to bring in the facility
of electronic signatures for taxpayers to endorse their
bonafides. The Central Board of Direct Taxes (CBDT), the apex
office to formulate policies for the income-tax department,
has decided to implement the new mechanism by the end of the
next financial year, in March 2015. Official sources privy
|
| SEBI |
| Sebi to soon notify non-tax proposals
of MF policy |
|
Delhi : Sebi is giving final
touches to proposals aimed at bringing greater seriousness
among the mutual fund houses, by raising their minimum
networth requirements and making it mandatory for them to
contribute their own seed capital along with investors’ money.
These proposals are currently going through the process of
legal vetting, pursuant to which the Securities and Exchange
Board of India (Sebi) would soon issue a detailed policy
framework with necessary circulars and notifications, a senior
official said.
|
| Sebi’s norms for Indo-US tax
compliance pact by next fiscal |
|
Delhi : With talks underway
for an Indo-US agreement to combat possible tax evasion by
Americans through Indian entities, Sebi plans to issue new
guidelines for market intermediaries in this regard next
fiscal. The negotiations and discussions between India and the
US have commenced for an inter-government agreement (IGA) to
be signed between the two countries under the Foreign Account
Tax Compliance Act (FATCA), a senior official said.
|
| COMPANY
LAW |
| New Companies Act drives demand for
forensic audits |
|
Maharashtra : Forensic audit
is emerging as a big-ticket business for accounting firms.Two
developments are responsible. One, some high-profile frauds in
the limelight over recent months. Two, changes in the approach
of regulators, allied to provisions in the new Companies Act,
which put more accountability on both independent directors
and auditors.
|
| RBI |
| Give customers a free copy of credit
profile: RBI |
|
Maharashtra : Customers
should be given a free copy of their credit profile as it
would help in promoting financial discipline among loan
seekers, a Reserve Bank of India report says.“The committee
has suggested that providing customers with a free copy of
their credit information reports would help create awareness
about the need to have credit discipline, enable customers to
correct their behaviour and improve their score well before
they plan to avail fresh credit of any kind,” the report
said.
|
| Finance & Money
Markets |
| Rupee to appreciate, yields to trade
range-bound |
|
Maharashtra : The rupee is
expected to appreciate this week, amid dollar flows into the
domestic market. And government bond yields are seen
range-bound ahead of the Reserve Bank of India (RBI)'s
monetary policy on April 1. The Street expects the key policy
rates to remain unchanged in the policy review."The rupee may
trade in the range of 60.50 to 61.50 per dollar this week. The
bias is towards appreciation of the rupee," said a currency
dealer with a state-run bank.
|
| Private sector banks to extend
working capital funds to other firms |
|
Maharashtra : Bickering
between the private sector and state-owned lenders has forced
the corporate debt restructuring (CDR) cell to ask all banks,
including private ones, to extend working capital funding to
companies whose loans are getting restructured, a person
familiar with the matter said. Private sector lenders
participate in the revival programmes of distressed companies,
but usually decline to lend for their working
capital.
|
| Commodities |
| Oil rises above $99 amid new
sanctions on Russi |
|
Delhi : The price of oil
rose above $99 a barrel on Friday as the U.S. and European
Union expanded sanctions against Russia and warned of possible
penalties against its energy industry.Benchmark U.S. crude for
May delivery rose 56 cents at settle at $99.46 a barrel in New
York. The day before, it had dropped 27 cents.
|
| Yarn exports to China plummet on
pricing policy |
|
West Bengal : Indian yarn
exports have come under pressure as China has slowed down yarn
imports from the country. The dragon country is also offering
a lower price for Indian yarn on ground that rupee has
strengthened against dollar. Chinese price for Indian yarn has
declined by 6 per cent to 7per cent over the past one month
and is now quoting at $3.30 a kg.
|
| MERGER &
ACQUISITION - NATIONAL |
| Aditya Birla PE in talks to pick 6 pc
in Adlabs Imagica for Rs 100 crore |
|
Maharashtra : Aditya Birla
Private Equity is in talks for the possible purchase of a 6
per cent stake in Adlabs Imagica, India's largest
entertainment theme park, for Rs100 crore, said three people
with direct knowledge of the matter. That values the company
at Rs1,667 crore. The deal talks are part of a sale of shares
ahead of a public offer, for which Adlabs Imagica has
appointed investment banks Deutsche India Equities, Kotak
Mahindra Capital Company and Centrum Capital as
managers.
|
| Persistent Systems invests in
healthcare technology startup Hyginex
|
|
Karnataka : Software product
and services provider Persistent Systems has invested in
healthcare technology startup Hyginex through its venture
capital fund.The California-based startup, which is focused on
preventing hospital acquired infections, has developed a
sensor equipped bracelet that alerts and reminds hospital
staff to wash hands.The investment will help Hyginex to expand
its operations in the United States and also enter markets
like India.
|
|
 |
| Economy |
| India |
| Gujarat's growth story fails to buck India's
macro gloom |
| Secondary sales likely to be preferred exit route
for PE investors in 2014: Report |
| Open to discussing IP norms at WTO:
Sharma |
| |
| International |
| US stocks may rise, but Ukraine could halt
rally |
| Lagarde: Can’t do much about reform without US
support |
| 76.5% worried about economy after sales tax hike:
Kyodo poll |
| Another season of 'Chicago Fire' to boost
economy |
| |
| Markets
Today |
| NSE |
6,583.50
|
|
| BSE |
22,055.48
|
|
| NASDAQ |
4,276.79
|
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| |
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|
| USD |
60.78
|
|
| EURO |
83.72
|
|
| JPY(100) |
59.37
|
|
| GBP |
100.08
|
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|
| |
| Corporate
Watch |
| Maruti Suzuki, Hero MotoCorp step on the
gas on lower excise duty |
|
Delhi : Maruti Suzuki India and *
Hero MotoCorp plan to increase production of cars and
two-wheelers respectively in April and May to make the most of
the prevailing lower excise duty. Among the country’s largest
auto manufacturers, they’re hoping to push sales during the
festive Navratras that begin in early April and are therefore
readying inventories.Maruti Suzuki has upped the output
guidance to key component suppliers for April and May by 8% —
from 1 lakh to 1.08 lakh units — and 12% — 1.04 lakh to 1.17
lakh units — at its two plants in Haryana, although it did not
alter production plans for March.
|
| Telcos slash mobile data rates to win
customers |
|
Delhi : As mobile data becomes a
revenue driver for telecom operators, companies such as
Vodafone India, Sistema-Shyam and Telenor (Uninor) are
devising new strategies and launching aggressive data plans to
boost traffic, make customers migrate to high-speed
technologies like 3G and ward off impending competition from
Reliance Jio.In the last three quarters, Vodafone, Bharti
Airtel, Reliance Communications and Idea have slashed data
pack rates by 80-90%. Currently, most players charge between 2
and 10 paise per 10 Kb for data downloads.
|
| IL&FS to raise $1 bn for infra debt
fund by Sept |
|
Maharashtra : IL&FS Financial
Services expects to close $1 billion of its targeted $5
billion infrastructure debt fund by September, a top company
official has said. IL&FS Infra Asset Management, which
manages the infrastructure debt fund, has targeted an initial
corpus of around $1 billion and hopes to increase the overall
corpus to $5 billion under management in the
medium-term.
|
| Tata Motors to invest Rs 1,500 crore to
develop new trucks and buses in FY’15 |
|
Delhi : Despite the commercial
vehicle industry enduring one of its worst years in recent
history, the country’s largest truck manufacturer, Tata
Motors, has announced that it would invest Rs 1,500 crore in
the coming financial year to develop new products and
technologies.A report on the Economic Times quotes the
company’s executive director for commercial vehicles, Ravi
Pisharody, saying that apart from the development of new
products and technologies, there won’t be any addition of
capacity as he says that the company has got capacity for the
next five years.
|
| |
| Tenders
& Assignment |
State Health Society - Lucknow Uttar
Pradesh  |
Description :Selection of
State Concurrent Auditor – Request for Proposal for Hiring
Services of Chartered Accountant Firm for Concurrent Audit of
State Health Society for the financial year 2014-15.
Last Date : 28/03/2014
Address :Vishal Complex,19-A,Vidhan
Sabha Marg,Lucknow Phone
:0522-2237595 E-Mail :acs.nrhm@gmail.com
|
| Air Force Station - Jodhpur Rajasthan
|
|
Description :Appointment of
Chartered accountant firms for auditing of non public funds at
air force station for the period of three
years.
Last Date : 31/03/2014
Address :Air Officer Commanding Air
Force Station Ratanada,Jodhpur-342011
Phone
:0291-2511516
|
| |
| Reminders |
| Tenders |
| Central Electronics Limited - Sahibabad Uttar
Pradesh 25/03/2014
|
| Jharkhand Agency For Promotion Of Information
Technology 25/03/2014
|
| State Bank Of India 25/03/2014
|
| National Rural Health Mission - State Health
& Family Welfare Society
Sikkim 25/03/2014
|
| Presidency University - Kolkata West
Bengal 25/03/2014
|
| Sant Longowal Institute Of Engineering And
Technology 26/03/2014
|
| Heavy Engineering Corporation
Limited 27/03/2014
|
| Income Tax Department - Lucknow Uttar
Pradesh 28/03/2014
|
| National Health Mission, Uttar
Pradesh 29/03/2014
|
| Food Corporation Of India - Zonal Office, (EAST),
Kolkata 31/03/2014
|
| |
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