ECONOMY & NATION


The Central Bureau of Investigation on Friday conducted searches in 26 different locations across India of the Silicon Group of Companies which is allegedly running chit fund operations.   The Kolkata-based group is one of the 44 chit fund companies being probed by the CBI following...

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Automobile major Honda Cars India on Friday said it will carry-out preventive replacement of air bag inflators in its sports utility vehicle (SUV) CR-V and premium sedan Accord.   According to the company, it will carry-out preventive replacement of the passenger-side air bag inflator...

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Justice TNC Rangarajan retd 15 May 2015
While the litigation tentacle is very gripping, the TDS tentacle is long enough to freeze bank accounts of the deductor even though he is not a taxpayer and no amount is due from him. This is third part of a multi-part series   Let me give an example of how the delay undermines the...

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Realty major DLF has been found to have indulged in "unfair and unjust" business practice again by the country's anti-trust body that, nevertheless, said it was not imposing any fine due to a Rs.630 crore penalty that had already been slapped on the company in a similar case.   In a...

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Justice TNC Rangarajan retd 14 May 2015
Cumbersome forms, adding non-taxable items, modifying the computation and denying legitimate deductions by raising disputes, flawed appeals and revisions -- multiple tentacles squeeze the assesse. This is second part of a multi-part series adapted from Justice S Rangarajan Memorial Lecture in...

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Sitharaman said she is also considering meetings with some state governments on the matter   Commerce Minister Nirmala Sitharaman on Thursday held consultations on foreign direct investment policy in e-commerce with stakeholders, including e-retailers Flipkart and Snapdeal and...

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The demand for gold in the first quarter of 2014 was 167.1 tonnes   The demand for gold in India for the first quarter (January-March) of 2015 was at 191.7 tonnes, up by 15 percent as compared to the corresponding period of 2014, World Gold Council (WGC) said in a report on...

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India's annual rate of wholesale price inflation decelerated further    India's annual rate of wholesale price inflation decelerated further to (-)2.65 percent in April from (-) 2.33 percent for the previous month on the back of a major decline in prices of fuels and minerals,...

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Led by Bharatiya Janata Party (BJP) MP and chairman of parliamentary committee on energy Kirit Somaiya, the MPs expressed their concern over the conduct of airlines and asked the government to stop the arbitrary fare hike by Indigo, Jet Airways and others   A group of 20 members of...

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Venkatachari Jagannathan (IANS) 13 May 2015
In his speech at the function, Kant said the slogan 'Make in India' is not for making a protective market but to make India a part of the global supply chain. He said the government is focused on making India an easy place to do business   Come June/July, the central government will...

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Justice TNC Rangarajan retd 13 May 2015
The Indian tax system is devilishly complex, extortive and a patchwork of various haphazard ideas. This is the first part of a multi-part series on the vexing Indian tax system and the path to genuine reforms, adapted from Justice S Rangarajan Memorial Lecture in Bangalore delivered...

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Moneylife Digital Team 13 May 2015
While the IIP is showing tepid growth, the actual tax collections are showing a huge jump reflecting stronger manufacturing. Which one would you rather believe?    The indirect tax revenue (provisional) collections in April 2015 increased 46.2% to Rs47,747 crore from Rs32,661 crore...

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Nokia Networks in India will work as an independent unit and compete against Alcatel Lucent till the clear signal on integration is obtained from the headquarters   Finnish telecom broadband infrastructure software and services provider Nokia Networks will consider India as one of...

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The rating agency attributed the current subdued growth conditions on weak domestic credit conditions, tepid domestic demand and uncertain global growth   The monsoon and global financial volatility will pose additional risk to India's growth this year besides weak domestic credit...

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Moneylife Digital Team 13 May 2015
Except the President, Prime Minister, Chief Justice of India and departed leaders, photographs of other political leaders should not be used in government advertisements, the apex court ruled   In a landmark judgement, the Supreme Court on Wednesday prohibited use of photographs of...

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The Central Board of Direct Taxes had notified new norms and the attendant forms that, among other issues, requires an assessee to furnish all bank details, accounts opened or closed in the year with the closing balance, as also the sources of funds for expenses in an overseas...

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The company stopped selling MPV STILE that was being made in joint venture with Japanese Nissan Motor Company   Commercial vehicle maker Ashok Leyland Ltd has decided to stick to its core business and exit multi-purpose vehicle (MPV) segment, said a top company official here on...

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The reverse e-auction for the gas-based plants stranded due to lack of feedstock was conducted under the newly-approved Scheme for Utilization of Stranded Gas Based Generation Capacity   The government on Tuesday announced the revival of 10 stranded gas-based power plants who bid...

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In a statement, the company said the facility for Reliance Jio was the second round of financing from the Korean giant and the third overall for the group   Reliance Industries on Wednesday said its broadband arm has signed up for a $750-million loan, backed by Korea Trade Insurance...

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Industrial activity in the country, measured in terms of the Index of Industrial Production (IIP), registered a 2.1 percent growth during March 2015 as compared to a 5 percent rise in the previous month.  

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