Revenue loss from direct taxes at Rs 11,500 cr, Revenue gain from indirect taxes at Rs 11,300 cr Service tax to boost revenue by Rs 4,000 cr AC restaurants serving liquor to pay service tax Legal representation for businesses under service tax Service tax on hotel accomodation abo…

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Sectoral regulator the Securities and Exchange Board of India (Sebi) today barred six market intermediaries from trading in securities for allegedly carrying out manipulations in various IPO issues and also slapped a penalty of Rs 36.09 crore. “Roopalben N Panchal, Devangi Panchal,…

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Shares of IT and BPO company MphasiS plummeted by nearly 27% in early trade on the BSE today, hit by a sharp dip in net profit for the quarter ended January 31, 2011. Yesterday, MphasiS posted a 15.5% decline in consolidated net profit to Rs 226.67 crore for the November-January quarter,…

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Food price index rose 11.49% and the fuel price index climbed 12.14% in the year to February 12, government data on Thursday showed. In the previous week, annual food and fuel inflation stood at 11.05% and 11.92%. The primary articles price index was up 15.77% in the latest week, compar…

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The Sensex shed 118 points to close at 18,178. The Nifty also ended lower at 5,437 down 32 points following a drop in global stocks from the recent 30-month highs as the Libyan political turmoil sent oil prices soaring to 2 1/2 year highs, and raising concerns of a disturbance in the glob…

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THE son of Libyan leader Muammar Gaddafi has warned his country is on the verge of civil war after protesters seized control of military bases and tanks. But while he admitted mistakes had been made in a brutal crackdown by his father’s regime, Seif al-Islam Gaddafi said there woul…

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ICE Brent crude futures climbed above $105/barrel Monday as the deepening political unrest in Libya began to affect the country’s oil production, up $2.36/b from Friday’s close. US light crude futures on NYMEX surged by $3.30/b to $89.50/b. Prices subsequently dropped back, w…

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British firm to buy 30% in RIL’s oil & gas fields, investment may touch $20 bn. In the biggest foreign direct investment (FDI) into India, BP, the world’s fourth-largest energy company, will pay $7.2 billion for a 30 per cent stake in 23 oil and gas blocks of Reliance Industries…

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Saturday Cairo: Egypt’s military leadership vows to oversee a “peaceful transition” to democracy and pledges its commitment to all international treaties, a day after Hosni Mubarak bowed out as President in the wake of an unprecedented uprising against his 30-year rule….

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It was a holiday at the Central Bureau of Investigation (CBI) headquarters in the capital today. But it quickly turned into a hub of activity as Anil Ambani, chairman of Reliance-ADAG, walked in at around 4 pm. This was the first time that Ambani was called to the CBI headquarters in con…

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