CBDT clarifies new TDS, TCS rules; hopes to end deductor's 'nightmare'
The Central Board of Direct Taxes (CBDT) had issued a new circular to clarify amendments to the Tax Deduction at Source (TDS) and Tax Collected at Source (TCS). While allowing the TDS and TCS to be filed electronically on a quarterly basis, the board has permitted the deductors to issue TDS and TCS certificates (Form 16, Form 16A and Form 27D) in the old or new substituted...
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Bharti Airtel renews partnership talks with African MTN
Bharti Airtel Ltd, India's largest mobile services provider, said it has renewed its effort for a partnership with Africa's largest wireless carrier MTN Group Ltd (MTN) and is exploring a potential transaction whereby it would acquire a 49% shareholding in MTN and in turn, MTN and its shareholders would acquire an approximate 36% economic interest in the company.

Both Bharti and MTN...

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Punjab National Bank's Q4 net profit up 59%
Punjab National Bank (PNB), India's second-largest state-run lender, reported a 59% higher fourth quarter net profit on increased interest revenues.

For the quarter to end-March, PNB said its net profit rose to Rs8.65 billion from Rs5.43 billion while revenues, including interest revenues, grew to Rs61 billion from Rs44 billion, same period last year.

The lender said for the full...

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