The Telegraph
Since 1st March, 1999
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Business Briefs

More time to file tax returns

New Delhi, Nov. 27: The last date for filing income-tax returns for corporate assessees has been extended from the earlier date of November 30. The date has been extended to December 1 for most states on the grounds that both November 29 and 30 are holidays (Saturday and Sunday). The date has been extended to December 2 in Delhi, Rajasthan, Madhya Pradesh and Chattisgarh, as assembly elections are scheduled in these states on December 1.

Enron auction

Houston, Nov. 27: Enron’s headquarters are to be auctioned off early next week. The energy major had filed for bankruptcy two years ago.

Foreign debt

New Delhi, Nov. 27: The government has prepaid $1.4 billion worth of costly foreign loans to World Bank and Asian Development Bank. The country has a comfortable forex reserves of over $93 billion.

Vanaspati tax

Calcutta, Nov. 27: The Bengal government is likely to impose a 20 per cent sales tax on imported vanaspati to facilitate resumption of production by the eight state-based units, who have downed their shutters on Monday.

Law for SEZs

New Delhi, Nov. 27: Decks have been cleared for formulating the long-awaited umbrella law for special economic zones (SEZs) after finance and commerce ministries agreed on who should have the power to levy taxes on such zones. It has been decided that the powers to levy tax would be retained by the finance ministry.

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