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

By   /  June 15, 2019  /  Business  /  Comments Off on New compounding rules make it difficult for tax evaders to get away

New Delhi, June 15 (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 or entity would not be able to settle a case of tax evasion by just paying the […]

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RBI asks banks to grout ATMs to wall, floor for security by September-end

By   /  June 15, 2019  /  Business  /  Comments Off on RBI asks banks to grout ATMs to wall, floor for security by September-end

Mumbai, Jun 14 (PTI):The Reserve Bank on Friday asked banks to ensure their ATMs are grouted to a wall, pillar, or floor by September-end, except those installed in high secured premises such as airports, to enhance security of the cash vending machines. In 2016, the RBI had set up a Committee on Currency Movement (CCM) […]

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Xiaomi supplier opens 1st India manufacturing plant

By   /  June 15, 2019  /  Business  /  Comments Off on Xiaomi supplier opens 1st India manufacturing plant

Noida, June 15 (IANS): Xiaomi supplier Holitech Technology on Saturday said it has inaugurated its first component manufacturing plant in Greater Noida and will invest nearly $200 million over three years in the country. Holitech Technology would be manufacturing compact camera modules (CCM), capacitive touch screen module (CTP), thin film transistor (TFT), flexible printed circuits […]

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Jammu traders demand abolishing state toll tax at Lakhanpur

By   /  June 15, 2019  /  Business  /  Comments Off on Jammu traders demand abolishing state toll tax at Lakhanpur

Jammu, June 15 (IANS): Traders in winter capital Jammu on Saturday demanded that the toll tax collected by Jammu and Kashmir government at Lakhanpur entry point into the state be abolished. In a statement issued today the traders federation warehouse Jammu said the collection of toll tax at Lakhanpur in Kathua district on goods entering […]

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FIR against Srinagar Deputy Mayor, J&K Bank, officials

By   /  June 15, 2019  /  Business  /  Comments Off on FIR against Srinagar Deputy Mayor, J&K Bank, officials

Srinagar, June 15 (IANS): The Jammu and Kashmir Anti-Corruption Bureau (ACB) on Saturday registered an FIR against Deputy Mayor Sheikh Imran, officers of J&K Bank and government officials for misappropriation of subsidy worth crores of rupees to illegally benefit Sheikh’s firm, Kehwa group. A statement issued by the ACB said: “FIR number 3/2019 under Prevention […]

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ASUS eyes 50% share in gaming laptop market in India

By   /  June 15, 2019  /  Business  /  Comments Off on ASUS eyes 50% share in gaming laptop market in India

New Delhi, June 15 (IANS): In the era of smartphone gaming where the PC market is declining, Taiwanese electronics major ASUS is aiming for 50 per cent market share in the gaming laptops segment in India while increasing its retail presence from 100 to 200 stores by the end of this year, a top company […]

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India to impose retaliatory tariff on 29 US items from Jun 16

By   /  June 15, 2019  /  Business  /  Comments Off on India to impose retaliatory tariff on 29 US items from Jun 16

New Delhi, Jun 15 (PTI): After extending the deadline for several times, India has decided to impose additional customs duties on 29 US products, including almond, walnut and pulses, with effect from June 16, making them expensive for domestic consumers, sources said. A notification with this regard will be issued by the finance ministry soon, […]

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No ban on corporates in MSME clusters; No trust deficit between govt. & industry, says Gadkari

By   /  June 14, 2019  /  Business  /  Comments Off on No ban on corporates in MSME clusters; No trust deficit between govt. & industry, says Gadkari

New Delhi, June 14 (PTI): Urging the industry to join hands in bringing innovative ways of financing, Union Minister NitinGadkari Friday said there was no “trust deficit” between industry and the government, which has been constantly doing away with “red-tapism”. Gadkari said the ban on the entry of corporates and private players in MSME sector […]

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WPI inflation near 2-yr low at 2.45 pc in May, may prompt another RBI rate cut

By   /  June 14, 2019  /  Business  /  Comments Off on WPI inflation near 2-yr low at 2.45 pc in May, may prompt another RBI rate cut

New Delhi, June 14 (PTI): Wholesale price-based inflation hit a 22-month low of 2.45 per cent in May helped by falling prices of food articles, fuel and power items, and this in turn may prompt the Reserve Bank to go for another cut in key interest rates in the current fiscal. The Wholesale Price Index […]

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India to impose retaliatory tariff on 29 US items from June 16

By   /  June 14, 2019  /  Business  /  Comments Off on India to impose retaliatory tariff on 29 US items from June 16

New Delhi, June 14 (PTI): After extending the deadline for several times, India has decided to impose additional customs duties on 29 US products, including almond, walnut and pulses, with effect from June 16, sources said. A notification with this regard will be issued by the finance ministry soon, they added. The move will hurt […]

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