Friday, April 9, 1999
Indian corporates must restucture, says Crisil chief
Crisil managing director R Ravimohan has said that Indian corporates must restructure themselves to meet the future challenges of the global economy. Crisil chief enlisted a number of key problems and noted that the domestic industry is suffering from overcapacity etc.
Corporate tax collections rise up by 43 per cent
Corporate tax collections have risen by 43% to Rs 11,160 crore during the fiscal from Rs 7,787 crore last year due to strengthening of tax at deduction source (TDS) system and close monitoring of the advance tax being paid by the assessees.
Reserve Bank redefines finance companies
The Reserve Bank of India said that only those companies which have financial assets of more than 50% of their total assets (netted off by intangible assets) and derive more than half of their gross income from financial assets would be treated as non-banking finance companies (NBFCs).
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