Business

March 14, 2015 1:18 PM

Govt. cuts import tariff value on Gold and Silver

The government has cut import tariff value on Gold to 375 US dollar per 10 grams. An official statement says the import tariff of Silver also has been slashed to 512 US dollar per kg following weak global price trends. During the first fortnight of the month, the tariff value on imported Gold was fi...

March 14, 2015 7:48 AM

I-T Department slaps 20,495 crore Rupees tax notice on Cairn India Ltd

The Income Tax Department has slapped 20,495 crore Rupees tax notice on Cairn India Ltd Friday. The notice was served for failing to deduct withholding tax on alleged capital gains made by its erstwhile promoter, Cairn Energy Plc. In its reply Cairn India said it does not agree with the tax demand a...

March 14, 2015 7:42 AM

Country's exports decline by over 15 per cent during last month

The country's exports contracted by more than 15 percent, to 21.5 billion dollars in February this year. According to data released by the Commerce Ministry, imports fell 15.7 percent, to 28.4 billion dollars in February, leading to a lower trade deficit of 6.8 billion dollars during the mo...

March 13, 2015 9:13 PM

Spectrum auction: Govt garners bids over Rs 1 lakh crore on 9th day

The government has garnered bids worth of over Rs 1 lakh crore from telecom operators at the end of ninth day of auction process of spectrum bands. Till now, 55 rounds of bidding have taken place. An official release said, over 87 per cent of the spectrum has been provisionally allocated to bidders ...

March 13, 2015 12:29 PM

Top financial players hail passage of Insurance Bill in Parliament

Top financial sector players have hailed the Parliament approving the hike in the Foreign Direct Investment limit in Insurance Sector to 49 percent from 26 percent. They say, the move is a highly positive development that can bring in immediate inflows to the tune of 20 thousand crore rupees. In fac...

March 13, 2015 9:27 AM

IT authorities serve prosecution notice to JetAirways for TDS default

Income Tax (IT) authorities have slapped prosecution notice on Jet Airways for Tax Deduction at Source (TDS) payments default. Official sources said that the notice was served to the Mumbai-headquartered airline after the tax authorizes detected several irregularities in the TDS payments by the priv...

March 13, 2015 7:43 AM

Insurers hail FDI hike limit to 49% from 26

Top financial sector players have hailed the Parliament approving the hike in the Foreign Direct Investment limit in Insurance Sector to 49 percent from 26 percent. They say, the move is a highly positive development that can bring in immediate inflows to the tune of 20 thousand crore rupees. In fac...

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