The Hindu Business Line : Tuesday, December 11, 2007

NRIS
ICICI Bank to offer tax concessions on NRO deposits
Mumbai, Dec. 10 Non-resident Indians and Persons of Indian Origin can claim tax concession on their Non-Resident Ordinary (NRO) deposits under the Double Taxation Avoidance Agreement (DTAA). So far, banks were offering the concession ... More

COURTS/LEGAL ISSUES
Formulate innovative laws for digital economy: Kalam
More

ENVIRONMENT
Industrial demand for gold seen rising
More

EXCISE AND CUSTOMS
CBEC given powers to appoint standing counsels
New Delhi, Dec. 10 In a move that may help fast-track Government response to indirect tax litigations, the Central Board of Excise and Customs (CBEC) has now been given powers to appoint standing counsels to handle litigation of indirect ... More

Pay interest to assessees on delayed refunds, HC tells Excise Dept
Chennai, Dec. 10 The Central Excise Department, Tirunelveli, has been directed by the Madurai Bench of the Madras High Court to pay interest at 14 per cent on pre-deposit money collected from two Tirunelveli-based firms. Since the amount had ... More

FOREIGN TRADE
Italy eyes Indian partners for greater tech innovation
Call to promote biz collaboration between SMEs of both nations More

HEALTH
Rs 320-cr DFID grant for health sector in AP
More

HOTELS
Hyderabad hotels may stay open till midnight
Hyderabad, Dec. 10 If serious thinking in the Government translates into an order, residents of the twin cities will be able to go to hotels till midnight. According to Mr Krishnaiah, President of Andhra Pradesh Hotels Association, the ... More

PSU
MSTC entering iron ore, cement trade
Open to procuring ore from domestic, overseas cos More

PETROLEUM
GoM may consider hike in auto fuel prices
Duty cuts, bonds issue are the other options More

Sonatrach and OIL-IOC combine win gas blocks in Libya
State-owned entities Oil India Ltd (OIL)-Indian Oil Corporation Ltd (IOC) that have partnered with Algerian firm Sonatrach have won areas 95 (1 block) and 96 (3 blocks)in Libya. A senior official of OIL told Business ... More

POWER
More land to be acquired for Jayamkondam project
Details of land value under preparation More

‘Energy sector needs $500 b during 11th Plan’
Former Power Secretary Sahi says meeting demand for equipment a major challenge More

CESC prices QIP offering at Rs 618
CESC Ltd’s QIP offering of equity shares of Rs 10 each aggregating $150 million has been priced at Rs 618 per share. According to a press release issued by the company here, the QIP issue opened on December 4, and was priced on December 8. ... More

TAXATION
Chennai large taxpayer unit rolled out
The Finance Ministry has rolled out the country’s second large taxpayer unit (LTU) at Chennai during the first week of this month. The first LTU got off the ground in Bangalore last year. LTUs are designed to render single-window ... More

Dismay over slow adoption of large taxpayer units
New Delhi, Dec 10 The Finance Ministry has expressed disappointment over the “very slow response” to the adoption of large taxpayer units (LTU) bylarge taxpayers in the Indian corporate sector. Adoption of LTUs has so far been ... More

IOB to accept tax payments
Tax payers may pay their taxes through the branches of Indian Overseas Bank, the bank has said in a press release. “The only requirement is that the taxpayer has to open an account with any of our networked branches and register for E ... More

SSI
‘Banks must offer cheaper products for SMEs’
Mangalore, Dec. 10 The Federation of Indian Exports Organisation (FIEO) has urged the banks to introduce innovative and less expensive products, exclusively for SMEs, to face the situation arising out of rupee appreciation. Delivering ... More

WATER
‘Private sector can play a role in water supply’
Making water available ‘primarily’ govt’s responsibility More

COAL
‘Centre to quadruple coal output by 2011-12’
New Delhi, Dec 10 The Centre is aiming to ramp up coal output by as much as four times the current production levels to 104 million tonnes by 2011-12, the Minister of State for Coal, Mr Dasari Narayana Rao, said here on Monday.Speaking ... More

EDUCATION
Great Lakes’ biz school fest from Dec 14
Chennai, Dec. 10 The Great Lakes Institute of Management has roped in some of the best minds from both academic and corporate institutions in the country, for a showdown of brainpower at its Annual Management Fest, L’Attitude, which will ... More

REAL ESTATE & CONSTRUCTION
Maytas Infra, Vedanta sign pact
Maytas Infra Ltd has signed a memorandum of understanding (MoU) with Vedanta Alumina Ltd (VAL) for developing an integrated township for its staff in Jharsuguda, Orissa. The project would have a total built up area of 14 lakh sq ft and competed ... More

MINING & QUARRYING
Sand plunder
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EVENTS
Siemens inks MoU with RITES for rail wagons
Austria eyes more trade with India More

CCMB to host Indo-French meet
More

INCOME TAX
e-payment of direct taxes may be made mandatory
New Delhi, Dec. 10 The Income-Tax Department wants to popularise e-payment of taxes among the 3.2 crore-odd income tax assessees in the country. Towards this end, the department may, from January 1, make it mandatory for certain categories of ... More

VENTURE CAPITAL
Private equity deals cross $15-b mark in Jan-Nov
New Delhi, Dec. 10 There seems to be no let up in private equity (PE) investments into India, with the announced value of total deals crossing the $15-billion mark during the first 11 months of this year. The total number of PE deals ... More