New compounding rules make it difficult for tax evaders to get away

New Delhi (IANS) Tightening the screw on tax evaders, the revised guidelines issued by the Income Tax (I-T) Department have made serious offences under black money and benami laws "generally" non-compoundable.

This means that a person…

ADB approves Rs 1,650 cr infra projects in Tripura

Agartala (IANS) The Asian Development Bank (ADB) has approved projects for infrastructure development worth Rs 1,650 crore ($235 million) in seven of the eight district headquarter towns in Tripura, an official release said here on Sunday.

The…

Government reduces rate of ESI contribution from 6.5% to 4%

New Delhi (IANS) The government has decided to reduce the rate of contribution under the ESI Act from 6.5 per cent to 4 per cent wth employers contribution being reduced from 4.75 to 3.25 per cent and that of employees from 1.75 to 0.75 per cent.

Japan to invest Rs 13,000 cr in various Northeast projects

Agartala (IANS) Japan has decided to invest Rs 13,000 crore (205.784 billion Yen) in several ongoing and new projects in different Northeastern states of India, an official release said here on Friday.

"After a meeting between Union Minister…

PWC observations baseless, unjustified: Reliance Capital

Mumbai (IANS) The Anil Ambani-led Reliance Capital Ltd on Thursday termed audit firm Price Waterhouse & Co's (PWC) observations as baseless and unjustified.

In a statement issued here, the company said: "PWC's observations…

Markets open in red: Sensex down 160 points

Mumbai (IANS) The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a negative note during the morning session of the trade.

The Sensex of the BSE opened at 39,974.18, then touched a high of 39,982.10 and a low of 39,780.00. It is trading…

PNB admits staggering loan defaults of Rs 25,000-crore

Mumbai (IANS) The beleaguered public sector Punjab National Bank (PNB) has admitted to 1,142 big and small defaulters all over India who have defaulted a stupendous Rs 25,090.3 crore.

Of these 1,142, the PNB has so far initiated recovery proceedings…

Domestic passenger cars sales down 26% in May

New Delhi (IANS) Domestic passenger cars' sales continued to decline in May, the segment's off-take fell 26.03 per cent.

According to industry observers, high base effect, along with low demand and high interest cost continued…

Ministry not to seek funds for PSB recapitalisation

New Delhi (IANS) After enhancing the recapitalisation amount for public sector banks (PSBs) to Rs 1.06 lakh crore in the last fiscal, the Finance Ministry is not in favour of infusing more funds in PSBs so soon after, and is unlikely to seek…

Equity indices open in green, Sensex up 320 points

Mumbai (IANS) The key Indian equity indices opened on a positive note on Monday, in line with the Asian stocks, with the BSE Sensex trading 320 points higher.

Both the domestic and Asian investor sentiment strenthened after US President…