KPMG has been named India’s indirect tax firm of the year at the International Tax Review’s fourth annual award ceremony held in Singapore recently.
KPMG was also named Asia’s transfer pricing firm of the year, a release said here today. KPMG’s Head of Tax Uday Ved, said, “these awards are recognition of our commitment to highest quality standards and thought leadership, as well as the trust posed by our clients on us.”
Archive for the ‘General Information’ Category
International Tax Review: KPMG named India’s Indirect Tax Firm of the Year
Posted by admin on November 29th, 2009
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Dubai Debt Crisis will not have "Earth Shaking" Impact, no need to Press Panic Button: Pranab
Posted by admin on November 29th, 2009
Asserting that there is no need to press the panic button, Finance Minister Pranab Mukherjee today said the Dubai debt crisis will not have “earth shaking” impact on the country’s economy.
“The full impact of the Dubai debt crisis is yet to be assessed, but there is no need to press the panic button,” Mukherjee told reporters.
To draw his point, he pointed out: “First of all, the amount is small and secondly, the exposure of our banking systems to the Dubai financial systems is limited.”
Competition Act’s M&A Clause on discussion table of MCA in Dec
Posted by admin on November 27th, 2009
After a lull, the contentious provisions regarding mergers and acquisitions (M&A’s) of the amended Competition Act is back on the discussion table of the Ministry of Corporate Affairs (MCA).
The Ministry is planning to hold a meeting with the new anti-monopoly watchdog the Competition Commission of India (CCI) and the stakeholders in the first week of December to discuss the M&A clauses – Sections 5 and 6 – that are yet to be notified, official sources told Business Line.
DTC: Insurance Council Opposes Tax on Withdrawals
Posted by admin on November 27th, 2009
The Life Insurance Council has opposed a proposal in the Draft Direct Taxes Code which says policy holders be taxed at the time of withdrawal of insurance fund.
SB Mathur, Secretary General of the Life Insurance Council, said either the proposal be changed to retain the present system of exempting a life insurance holder from tax at the time of withdrawal, or tax should be levied only on the real value of the withdrawn sum.
IBF Criticises Amendments to Copyright Act
Posted by admin on November 26th, 2009
Indian Broadcasting Foundation (IBF) has criticised HRD ministry’s proposed amendments to the Copyright Act and said it was disappointed to note that the ministry has not done any consultations with broadcasters on proposed changes like amendments in ‘Fair Use’ provisions.
It added that no consultation paper with the stakeholders was floated prior to drafting the amendment bill which is expected to be soon introduced in the Parliament.
Brokers’ Opposing the extension of Trading Hours
Posted by admin on November 26th, 2009
The two largest exchanges in the country may not be extending their trading hours any time soon as brokers’ bodies are vehemently opposing the suggestion.
A survey by the Bombay Stock Exchange Brokers Forum says that 79 per cent of the members of the forum are against the extension of trading hours on the exchanges. This survey comes after a study on the issue by the Association of National Exchange of India (ANMI) …..
