×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

The Mint Report for 14 April 2010

The Mint Report for 14 April 2010
Comment E-mail Print Share
First Published: Wed, Apr 14 2010. 10 48 PM IST
Updated: Wed, Apr 14 2010. 10 48 PM IST
A new tax formula could worry private equity and venture capital deals if it comes into effect. The Central Board of Direct Taxes has created a new formula to calculate the fair market value of unlisted shares. That means that if a company buys shares below the government estimate of a fair market price, the difference will be considered income. The new rules will become a reality if they’re passed as part of the finance bill by Parliament.
Remittances are rising. But where’s it all going? A new study from the RBI concludes that a large chunk of remittance money goes into consumption. The survey says Indians overseas sent back $46.9 billion in 2008-09. But only 4% of the money went into investments like property. About 61% of the money was spent on things like buying food and paying for education. 20% got deposited in banks. And the remaining 15% went into all other kinds of spending. The RBI conducted its study in November last year.
Industry body CII says it’s worried about the strengthening rupee. On Wednesday it called on the RBI to take action to stabilize the currency. CII says the appreciation in the rupee is hurting India’s exports and could derail its recovery.
Comment E-mail Print Share
First Published: Wed, Apr 14 2010. 10 48 PM IST