Tax date for trusts
Mumbai, May 20: All charitable and religious trusts will have to register with the income-tax department by May 31 failing which they will not get exemptions. Applications filed from June 1, 2007 can claim exemptions for the financial year in which the application was made and not for the earlier year. The trusts will have to make an application in Form No. 10A to the commissioner of income tax within one year from the date of its creation.
New Delhi, May 20: India and Mexico will sign a bilateral investment protection agreement tomorrow that will enable India Inc to access the North American free trade agreement — a trading block comprising Mexico, the us and canada.
Calcutta, May 20: The non-life insurance venture promoted by Pantaloon Retail with Italian insurance firm Assicurazioni Generali is set to get the permission of the Insurance Regulatory and Development Authority soon.
New Delhi, May 20: Indian exporters are exploring euro-denominated trade opportunities since the rising rupee and the consequent pressure on profit margins has dampened their confidence level, a Ficci survey revealed.
Iron ore cap
Mumbai, May 20: Steel industry representatives will press for a cap on iron ore exports at 90 million tonne a year ahead of the group of ministers’ meeting in New Delhi on May 28. The steel industry would also suggest gradual reduction in iron ore exports.