Thursday, July 2, 1998
Investment firms top advance-tax payments
Investment companies have recorded the highest growth in advance-tax payments in 1997-98 (or assessment year 1998-99), according to a study conducted by the income-tax department. The companies posted a whopping 793.1% growth, against a 92.12% jump reported by the banking sector.
Country armed to abide by maritime convention
India reached a milestone on Tuesday when it communicated to the International Maritime Organisation (IMO) that the country is fully equipped to abide by the STCW (standard of training & watch-keeping) convention. The STCW convention, which prescribes high standards for training the seafarers, will be implemented from August 1, 1998.
No fresh tax proposals in Orissa budget
The Orissa government has presented a balanced budget of Rs 14,286.16 crore for 1998-99, without any new tax proposals. The revenue deficit of Rs 1,583.10 crore would be met by cutting essential expenditure, mobilising higher tax revenues and with higher central assistance.
|
|
