Cellular handset firms face Rs 200cr tax demands
In a bid to widen the tax net, the Income Tax (I-T) authorities have decided to slap a tax of over Rs 200 crore on the profits made from the sale of cellular equipment by overseas companies. The industry's reaction: this is a direct violation of the double taxation treaties to which India is a signatory.

Regulation review body gets one-year extension
The Reserve Bank of India has extended the term of the Regulations Review Authority (RRA) by one year to March 2001.

Legislation on factoring in the offing
The Centre will soon bring out a comprehensive legislation on factoring. The objective of the bill, being prepared by the industry ministry, is to strengthen the domestic factoring services which has a major role in providing liquidity in any business transaction including import and exports.


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