Govt notifies lower withholding tax on infra bonds
New Delhi: To encourage foreign investment in infrastructure sector,the government has reduced the withholding tax to 5 per cent on interest income on rupee denominated bonds. As per a notification issued by the Central Board of Direct Taxes,benefit of lower withholding tax will be applicable on bonds whose interest rate does not exceed 5 per cent above the base rate of SBI.
Maruti earmarks R3,500 cr investment
New Delhi: Maruti Suzuki India will make a capital investment of about Rs 3,500 crore this fiscal as it gears up to strengthen its market leadership,chairman of the company R C Bhargava said.
Wipros telecom test centre likely by Oct 1
New Delhi: Wipro has proposed to set up telecom equipment and product security test and certification centre,making it operational by October 1. It has proposed to the department of telecommunications it will set up the centre in phase manner.
Trai releases paper on FDI in broadcasting
New Delhi: Content monitoring and regulation is a better way to prevent undesirable content rather than restricting foreign investment,Trai said in a consultation paper released on Tuesday,inviting views on issues related to increasing FDI in broadcast sector.