Finance India

Service Tax on construction companies

The Institute of Chartered Accountants of India (ICAI), the accounting regulator, is looking to consult with the finance ministry to simplify the structure of service tax on construction activities and push three methods of calculating the tax.
The real estate developers in the country were opposing the service tax levied on the construction sector in the [...]

The Core Group on IFRS and the International Financial Reporting standards Council of Japan to Collaborate on a Common Platform

The core Group on IFRS constituted by the Ministry of Corporate Affairs, Government of India and the International Financial Reporting Standards Council of Japan here today jointly agreed to initiate the process of mutual dialogue and collaborate on a common platform on various economic and corporate regulation related issues including convergence of Accounting Standards with [...]

Finmin for tighter FDI control

Favours check on downstream investments by firms with minority foreign shareholding.
The finance ministry has proposed to tighten the foreign direct investment (FDI) regime in the country. It has sought to route a larger number of investments by companies where the foreign stakeholding is less than 50 per cent through the Foreign Investment Promotion Board (FIPB).
Such [...]

Banks must pull up their socks, says ICAI’s Amarjit Chopra

The newly elected President of the Institute of Chartered Accountants of India, Amarjit Chopra said he is expecting amendments to the Companies Act and feels the banking sector needs to pull up its socks.
“The banking sector will have to work more. They will have to take a call, particularly the Reserve Bank, as to what [...]

Happy Women’s Day from Feeleminds !!

International Women’s Day (IWD) is marked on the 8th of March every year. It is a major day of global celebration of women. In different regions the focus of the celebrations ranges from general celebration of respect, appreciation and love towards women to a celebration for women’s economic, political and social achievements.
feeleminds.com wishes all the [...]

Banks to extend loans at base rate from April 2010: Gokarn

RBI has already issued a draft circular to all stake holders for seeking their opinion on fixed rate so that consumers or borrowers gains the best, pointed out Dr. Gokarn.
Dy. Governor, Reserve Bank of India, Dr. Subir Gokarn clarified that the apex bank won’t take any policy decision on interest rates until April 2010 and [...]

SimplyBooks.in – Online Bookstore Launched at World Book Fair

eMinds announces the launch of SimplyBooks.in, an Online Bookstore, at the World Book Fair being held at Pragati Maidan, offering book lovers with variety, convenience and a free shipping of books at their door step anywhere in India.

Hon’ble Shri Vasant Sathe, Former Union Minister, clicked the mouse on Feb 5, 2009 at the World Book [...]

Govt to divest 10-15% in Coal India

The government today said it will divest 10-15 per cent of its stake in Coal India Ltd (CIL) in next six months.
“The process has already started and something between 10-15 per cent of government stake could be divested in the firm in the next six months,” Coal Minister Sriprakash Jaiswal told reporters on the sidelines [...]

PSUs to get leeway in independent directors’ selection

The government is considering a proposal to give more autonomy to state-owned companies in the selection of independent directors, as it prepares them for listing on the stock exchanges.
“The proposal intends to encourage better corporate governance among public sector undertakings (PSUs). Also, it will benefit all the PSUs looking for early listing,” said the DPE [...]

Cos with high IPO grades have higher PE multiples: Crisil

Companies which get high grades for their initial public offers have higher price-to-earnings (PE) multiples, rating agency Crisil said today.
 Companies with a higher IPO grade of 4/5 (indicating above average fundamentals relative to other listed securities in India) have enjoyed average PE multiples of 25.8x, compared to companies with a lower IPO grade of 1/5 (indicating [...]