Commerce Ministry to push for relaxation of Visa norms for foreigners in SEZ
The Commerce Ministry will push for a relaxation in employment visa norms for foreigners in Special Economic Zone units that bring in large foreign direct investment. The ministry is receiving feedback from the industry, after which it will formally send a proposal in this regard to the Home Ministry, an official said. At present, employment… Read More
Recent Initiatives of the Government for Justice Delivery and Legal Reforms
The Government is taking various initiatives to improve justice delivery system in the country and for improving justice delivery and legal reforms and steps to reduce pendency in courts from 15 to 3 years by 2012. These are as under: National Mission for Justice Delivery and Legal Reforms: The Government has ˜in principle™ approved setting… Read More
India™s Foreign Trade: April, 2011
EXPORTS (including re-exports) India™s Exports during April, 2011 were valued at US $ 23849.32 million (Rs. 105819.43 crore) which was 34.42 cent higher in Dollar terms (34.03 per cent higher in Rupee terms) than the level of US $ 17742.13 million (Rs. 78951.58 crore) during April, 2010. IMPORTS India™s Imports during April, 2011 were valued at US… Read More
India signs DTAA with Government of Mozambique
No.402/92/2006-MC (12 of 2011) Government of India / Ministry of Finance Department of Revenue Central Board of Direct Taxes The Government of India notified the Double Taxation Avoidance Agreement (DTAA) with the Government of Mozambique for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income on… Read More
Tax Defaulters have no escape – IT Dept to Arrest and Prosecute evaders
The Income Tax Department has gone into strict measures to curb the tax default resulting into use of its never used power , to arrest and prosecute evaders, after its say to publish the name of the defaulters in the newspaper. The step comes in the backdrop of the government initiating various steps to curb generation… Read More
Go Global with Google – An Opportunity for the Indian business
A news which became an opportunity, here comes google with the launch of its new tool 'Global Market Finder' in India, which will help advertisers find new markets overseas for their products. This new innovative tool will help Indian businesses to expand world wide and reach out to potential customers in international markets. The new tool… Read More
Transfer Pricing – A tool mis-used for transferring illicit funds outside the country
The words like corruption , black money transactions are not new to the people of our country, we have known this for a long time now. The Government has always tried its best and still, continues to work on this aspect, but somehow there has been no good results, because no one asked questions as to why… Read More
Sunil Mitra appointed as Finance Secretary
 Shri Sunil Mitra, the present Revenur Secretary has been appointed as the Finance Secretary and Secretary, Department of Revenue upon retirement of Smt. Sushama Nath, Finance Secretary and Secretary, Department of Expenditure on 31st May, 2011. Shri Mitra, an IAS officer of the 1975 batch (West Bengal Cadre) had become the Revenue Secretary last year in… Read More
MCA introduces Refund process for payments done in excess or erroneously
1. What is refund process? The user is required to make various payments to avail MCA21 services. A number of instances have been observed where the users make multiple payments or incorrect payment or excess payment while using these services. In order to allow the stakeholders to claim refund of such payments, refund process has… Read More
Log on to Facebook or Twitter to complain about misleading Ads
Errant advertisers could face more heat from industry watch dog Advertising Standards Council of India (ASCI), which has jumped on the social networking bandwagon, encouraging youths to speak out against questionable campaigns through its Facebook and Twitter accounts. Within a month of making its debut on Facebook and Twitter, ASCI has already received ten times… Read More
It pays to promote CEOs from within
A study of S&P 500 non-financial companies over 20 years (1988-2007) shows that businesses that exclusively promote CEOs from within the organisation outperform companies that recruit CEOs from outside the organisation. In the international study, 36 companies with CEOs promoted within the company outperformed others across seven measurable metrics: return on assets, equity and investment,… Read More
Govt. defers decision on Navi Mumbai SEZ split proposed by Sr. Ambani
The government today deferred a decision on a request from Mukesh Ambani-promoted Navi Mumbai SEZ for splitting itself into five zones, seeking more details from the developer. The issues was taken up by the Board of Approval (BoA) headed by Commerce Secretary Rahul Khullar at its meeting here. "The issue will be looked into by… Read More
Mines Ministry proposes raising funds abroad for Exploration Cos
Concerned over inadequate fund flows into the mining sector, the Mines Ministry has proposed allowing domestic exploration firms to raise funds abroad by listing equity-linked securities. The Ministry of Mines has also suggested facilitating venture capital investment and listing of early stage exploration companies. "Venture capital flows to be facilitated by bringing concepts of flow… Read More
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