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Chidambaram plans to rewrite I-T Act, raise FDI in insurance
THE Finance Minister, Mr P. Chidambaram, is planning to rewrite the income-tax law. Also high on his agenda is an omnibus insurance law that would help the Government to raise the FDI limit in the insurance sector from 26 per cent to 49 per ...
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`People should be pushed into a cheque economy'
`I have made it very clear I am not going to force Bank A to consolidate with Bank B. Two banks must come up with proposals themselves.'
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TWI to produce Indo-Pak series; DD to telecast
THE Board of Control for Cricket in India (BCCI) has decided to award the production rights for the India-Pakistan series to Trans-World International (TWI). However, no final decision has been taken on the award of satellite overseas ...
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Drugs to cost more; Ipca hikes prices
CONSUMERS, it seems, will soon have to fork out more money on their medicines. Having digested the impact of Budget 2005, drug companies and analysts tracking the segment feel that medicine prices are set to increase anywhere between two and six ...
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TRAI seeks powers to penalise erring operators
THE Telecom Regulatory Authority of India is pitching in for powers to impose penalty on operators that offer services below the prescribed quality norms. Interestingly, the telecom regulator has sought the opinion of the service providers ...
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Shetty is new IDBI chairman; Khandelwal to head BoB
IDBI and Bank of Baroda have new chiefs at their helm. The Government has cleared the appointments of Mr V.P. Shetty as the new Chairman of IDBI and Dr Anil K. Khandelwal as the Chairman and Managing Director of Bank of Baroda. Both the new ...
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`Involuntary' bank mergers to get income-tax breaks
BANK mergers prompted by the Government action - `involuntary' mergers - would be given tax breaks under the Income-Tax Act with the Finance Minister, Mr P. Chidambaram, proposing insertion of a new clause to provide for set off of losses of a ...
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Fringe benefits from Down Under
MORE as a cop than a casual observer, Chidambaram has been watching how companies keep employees happy. What did he find? That many perquisites are disguised as fringe benefits and that nobody pays any tax on these. Therefore, he made one fell ...
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