NATIONAL Income Tax searches on Rolta India & shipping agents As part of a drive to unearth unaccounted financial transactions, the Income Tax department today (Aug 12, 2004) launched searches at nearly 25 premises of leading IT company Rolta India Ltd at its head-office and residential premises of some Directors.
Task Forces to recover taxes; a huge Rs 87, 000 cr Finance Ministry today (Aug 12, 2004) swung into action setting up two Task Forces to recover direct and indirect tax arrears running into a whopping Rs 87,000 crore.
VoIP-based international calling cards in K'taka, TN World Phone Internet Services Private Limited (WPISPL), a category "A" Internet services provider, today (Aug 12, 2004) announced that it would soon make available its world phone premium international calling cards in Bangalore, Chennai and other cities in Karnataka and Tamil Nadu.
'New IT hubs planned to lessen burden on Bangalore' Notwithstanding the reports of IT giants threatening to pull out of Bangalore, Karnataka Government is planning to conduct Bangalore IT.com 2004 in a big way from November 1-5, 2004. This year the State is targeting software and services export worth $ six billion.
Sensex dips by another 35 points on fresh selling After early signs of recovery, the market, once again, turned weak and ended with a 35-point fall for the second straight session on the Stock Exchange in Mumbai today (Aug 12, 2004) on fresh sell-off by retail investors and operators.
'No inspection raj in VAT, auditing once in 5 yrs' Seeking to allay fears of the trading community, the Empowered Committee on Value Added Tax (VAT) today (Aug 12, 2004) said there would no "inspection raj" when the new State-level tax regime comes into being from April 2005.
'IT experts not sure of outsourcing after US polls' IT experts in both the US and India are still not sure whether the cry against IT outsourcing to India would abate after the American Presidential elections, an author of a book on outsourcing to India said in Bangalore.
Govt is considering raising LPG and kerosene prices Government is considering raising domestic cooking gas LPG and kerosene prices in phases from October to cover up for the un-recovered cost on the current selling price.
INTERNATIONAL 'HR outsourcing in Governments is ready to explode' In order to save costs, reduce capital spending and transform fixed costs into variable ones, National and State Governments all over the world are rapidly going the private sector way in outsourcing key human resources and other functions.
