With the ever-increasing market ushering in new players, competition issues among companies will bring to the fore the indispensable role of the Competition Commission Act(CCA) 2002 in arbitrating and settling, R Prasad, member of the Competition Commission of India(CCI) said at the sidelines of a seminar.
While the CCA is currently envisaged to protect and forbid any blatant abuse of healthy competition in business among competing corporations, with the changing times.
Archive for the ‘General Information’ Category
Competition Act to get more Penal Clause
Posted by admin on November 25th, 2009
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The Gov. should clarify Taxation Rules for Spectrum: PwC
Posted by admin on November 24th, 2009
The government should clarify taxation rules regarding payments made for acquiring spectrum while working to resolve the issue of 3G spectrum allocation, according to financial consultancy firm PwC.
“There is no specific provision in Indian tax laws governing the deductibility of the payments made for acquiring spectrum,” a PwC report on the telecom sector said. With the allocation of spectrum, especially 3G being an issue of concern, rules governing ….
The I-T Department issues Notices to TPAs to Cough up Rs 117 crore as TDS
Posted by admin on November 23rd, 2009
The income-tax department last week sent notices to six Mumbai-based third party administrators (TPAs), who process insurance claims, askingthem to cough up Rs 117 crore for two consecutive financial years, beginning 2008-09.
Confirming the development, an I-T official in Mumbai said the department raised the demand after conducting a survey, which revealed that none of the TPAs had deducted tax (TDS) while making payment to hospitals.
ASSOCHAM: Centre should be a Coordinator in bringing Uniformity in Entertainment Tax
Posted by admin on November 23rd, 2009
The Centre should act as a coordinator to bring uniformity in entertainment tax rates, currently varying between 30 per cent and 40 per cent across the country, for growth of the entertainment and media industry, Assocham has said. “Entertainment industry is anticipated to grow at a rate of nearly 10 per cent for the next [...]
Levy Windfall Tax on New Mobile Players Selling Licences
Posted by admin on November 22nd, 2009
The Member of Parliament and former owner of BPL Mobile, Mr Rajeev Chandrasekhar, has written to the Prime Minister suggesting the Government should impose a windfall tax on new mobile players if they sold their licences. He has also suggested that the Government should formulate the Merger & Acquisition policy in such a way to [...]
High Tax should be Imposed on Fuel Inefficient Vehicles
Posted by admin on November 22nd, 2009
It could soon be a tough road ahead for vehicles with low fuel efficiency. The Government is considering a proposal to introduce a new tax on such vehicles to ensure that they are phased out. This tax could be a deterrent against manufacture of fuel-guzzling vehicles. The proposal simultaneously suggests a ban on vehicles older than 15 years as they cause greater pollution. Besides, States could be given incentives to impose such taxes, while those not falling in line might be penalised.
