The Telegraph
Since 1st March, 1999
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Business Briefs

Direct tax collection up 14 %

New Delhi, March 24: Direct tax collection recorded an impressive 14.3 per cent growth at Rs 66,269 crore till March 18 compared with the year-ago period, due to rise in corporation tax mopup. With this, the Centre has achieved over 81 per cent of the net direct tax collection target of Rs 82,000 crore for this financial year, finance ministry officials said here today. Of the Rs 66,269 crore, the corporation tax registered a 17 per cent increase to Rs 35,065 crore till mid-March, while income tax mopup stood at Rs 31,204 crore, posting a growth of around 12 per cent from the year-ago period.

Repo market

Mumbai, March 24: In a bid to impart transparency and broaden the Repo market, the Reserve Bank of India (RBI) has issued guidelines on uniform accounting policies to be followed by market participants for Repo and reverse Repo transactions.

CSE move

Calcutta, March 24: The Calcutta Stock Exchange (CSE) today decided to start certifying the turnover tax liability of each of its members as per criteria fixed by the Securities and Exchange Board of India.

Power reforms

New Delhi, March 24: In an attempt to improve the financial health of State Electricity Boards, the Cabinet is likely to approve a six-point strategy to bring about reforms in the distribution segment.

Kotak bank

Mumbai, March 24: Kotak Mahindra Bank, slated to start operations by the month end, will invest up to Rs 120 crore to establish 75 branches and ATMs.

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