The Telegraph
Since 1st March, 1999
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Business Briefs

Fillip for trade with China

New Delhi, June 18: The country’s trade with China, which has been growing over 25 per cent annually, is expected to get a fillip with Prime Minister Atal Bihari Vajpayee’s visit, according to industry bodies. The two apex chambers, CII and Ficci, demanded that the government should resolve tariff issues with the northern neighbour using regional agreements and spur border trade. The chambers are sending high profile business delegations to the dragon country to coincide with the visit. Suggesting ways of improving bilateral trade, Amit Mitra, Ficci secretary-general, said, “The issue of informal trade between India and China can be resolved to a large extent by increasing volume and diversification of trade basket if frameworks and mechanisms are put in place.”

Tax measures

New Delhi, June 18: The finance ministry and Reserve Bank plan to put in place a tax information network, proposed by the Kelkar task force, in a bid to improve tax administration and check evasion. The framework would be finalised within this fiscal, official sources said.

Tax form

New Delhi, June 18: The government has introduced a new form for self-declaration of income, which are not covered under the tax deducted at source.

Dabhol case

New Delhi, June 18: In an interim order, the Delhi High Court today restrained Dabhol Power Co from going ahead with the arbitration proceedings against the government in London in the matter pertaining to invocation of its counter guarantee in the power purchase agreement.

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