TopNews

Aiming to control the inflation, the Reserve Bank of India has raised the interest rates on March 30. This unexpected increase in interest rates caused a drop of over 600 points in the Indian stock market on April 2 though the market recovered.
Long-term investor, such as NRIs have fully exhibited this response as they pumped nearly Rs.1 billion in months of February and March, whereas, earlier, they were sellers mainly due to high rupee-dollar rate and valuation concerns. The mutual funds have also eased off and become attractive for the investor.

Indian industry looked confused over the issue whether the RBI should intervene in order to protect exporters from the gaining rupee or not.
As per CII, the domestic industry would have to accept a strengthening rupee in the short term, whereas, FICCI, Assocham and FIEO fancies RBI to check the sharp climb in the currency.

Authority for Advance Rulings has decided that the income-tax department cannot apply transfer pricing provisions, if a foreign company does not have a liability to pay tax. This ruling would give relief to the Netherlands-based Vanenburg Group BV which had shifted the entire shareholding of its Indian subsidiary Cordys R&D (India) Pvt Ltd to its Cordys Holdings BV (Netherlands).
Vanenburg Group had asked a judgment from the AAR on whether the relocation would draw capital gains tax and the transfer pricing provisions under Sections 92-92F of the Income-Tax Act, 1961.

As per reports, approximately one-fifth of the retail turnover is being transacted online which is low as compared to markets like South Korea and Japan having 85% and 80% of the total retail turnover is transacted over the Internet. Hong Kong and Singapore market’s net-based transactions account for only 15% of the retail turnover.

Internet trading in India has grown 100% every year during the last 5 years. Almost 45% of the total retail trading is expected through the online network.

The Internet seems like the biggest leveler, enabler and differentiator as the broking industry will split into two parts where one would like to call itself wealth management providers while others will concentrate on the high volume business by providing lower charges.

With the purpose of extending future exploratory journeys into space, the first major test on the

DaimlerChrysler India’s new plant near Pune will end up the land lease a