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Govt sets up Tax Administration Reform Commission

The government on Monday set up a high level panel under chairmanship of Parthasarathi Shome to review tax laws

August 27, 2013 3:07:20 am

Govt sets up Tax Administration Reform Commission

New Delhi: The government on Monday set up a high level panel under chairmanship of Parthasarathi Shome to review tax laws and suggest ways for a stable and non-adversarial tax administration. The seven member Tax Administration Reform Commission (TARC) will have 18 months to suggest various measures including appropriate organisational structure for tax governance,an official statement said. PTI

EPFO settles over 96% claims filed in Apr-Jul

NEW DELHI: Retirement fund body EPFO has settled 96.11 per cent of the claims filed during April-July this year within the mandated 30 days period as per their citizen charter,a review conducted by the EPFO’s Central Provident Fund Commissioner KK Jalan showed. PTI

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BoT meet to look at ways to push exports

NEW DELHI: The current account deficit would be high on the agenda when commerce minister Anand Sharma meets industry chambers and export promotion councils along with finance ministry officials on Tuesday. The Board of trade (BoT),chaired by Sharma,will meet to discuss the rising CAD situation,high interest rates,and extension of cheap loans to export-oriented sectors along with other things. ENS

Federal Bank seeks nod to raise FDI limit

NEW DELHI: Private sector lender Federal Bank on Monday said it has applied to the Foreign Investment Promotion Board for hiking the foreign holding limit in the bank to 65 per cent. PTI

No plans to raise rates: Canara Bank

KOLKATA: Canara Bank has said it has no plans to raise base rate at least for now. “Our base rate is lowest among PSU banks at 9.95 per cent… There is no programme to raise it as of now,” Canara Bank CMD RK Dubey said. PTI

IIFCL,HUDCO to raise funds via bonds today

Mumbai: State-run companies IIFCL and HUDCO are planning to raise Rs 2,400 crore and Rs 1,250 crore respectively through private placement of tax-free bonds tomorrow,according to an official of a merchant banker. PTI

Operation closure narrows SSTL Q2 loss

NEW DELHI: Indian telecom arm of Russian Conglomerate Sistema,SSTL,on Monday reported reduction in loss at Rs 844.7 crore during three months period (Q2) ended June 30,due to cutting down of operations in loss-making circles. PTI

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