The Hindu Business Line : Tuesday, May 03, 2005

Savings accounts exempt from cash transaction tax — More relief for senior citizens
THE Finance Minister, Mr P. Chidambaram, on Monday announced a softening of the incidence of proposed Fringe Benefit Tax (FBT) on companies, while exempting transactions in savings bank accounts from the Banking Cash Transaction Tax ... More

Petro-price hike: Govt finds it tough to convince Left
THE Union Government may have a tough task on its hand in convincing its Left allies for raising petrol and diesel prices. Opposing any move to raise petroleum product prices, the senior leaders of Communist Party of India (CPI) on Monday ... More

Fringe benefit tax stays, but in toned-down version
THE Finance Minister, Mr P. Chidambaram, on Monday announced a host of changes to the controversial fringe benefit tax (FBT) that was proposed in the Union Budget for 2005-06. Through the amendments to the Finance Bill, the Minister has sought ... More

To pay back balance to oil cos — Petroleum Ministry seeks second tranche of oil bonds
THE Petroleum Ministry has asked the Finance Ministry to issue Special Government Bonds amounting to Rs 5,762.85 crore to oil companies in order to liquidate the balance payable to these firms from the Oil Pool Account. Consequent to the ... More

Govt planning to dilute stake in IDFC — Hints at exiting after 3 years
THE Government has indicated that it may progressively dilute its stake in Infrastructure Development Finance Co Ltd (IDFC) and finally exit, if required, after three years. The move is aimed at giving a free hand to the company to raise ... More

Manwani to succeed Banga as non-executive chairman of HLL
MR Harish Manwani, President (Asia and Africa) of Unilever, is expected to take over as non-executive chairman of Hindustan Lever Ltd in place of Mr M.S. Banga, the current chairman. The board of Hindustan Lever Ltd (HLL) at its meeting of ... More