1. PGC
NEWSLETTER
5TH MARCH, 2014
THOUGHT OF THE DAY
“GREATNESS ON THE OUTSIDE BEGINS
WITHIN”
ECONOMICS NEWS
•
•
Commerce and industry minister Anand Sharma on
Tuesday accused the United States of protectionist trade
policies while asserting that India's trade and intellectual
property rights are compliant with the respective
multilateral regimes.
As part of its strategy to curb offshore tax evasion and
promote foreign investment, India has recently
operationalised seven new Income Tax Overseas Units
(ITOUs) in countries like Germany, USA and France.
CORPORATE UPDATES
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•
Sahara Chief Subrata Roy was today ordered to remain in
custody for a week in Delhi by the Supreme Court which
was unhappy over the proposal his group on the refund of
investors’ money as it has not come up with any concrete
proposal.
The Serious Fraud Investigation Office (SFIO) hasn’t
named Claus Heckerott, Adidas India managing director,and
Shahin Padath in the list of the accused in a complaint filed
on the Rs 1,477-crore Reebok India fraud case filed with a
Gurgaon court.
RBI / TAX LAW UPDATES
•
•
RBI: Raghuram Rajan breaks into big league; joins Janet
Yellen, Mario Draghi, Kuroda, Stanley Fischer & Mark
Carney.
IT: Where addition pertaining to expenses had been
deleted on merit, there was no reason to re-open
assessment.
MARKET UPDATES
SENSEX
21,263.04 53.31
CNX NIFTY
6,315.30 17.35
DOLLAR/ RUPEE
61.86 0
MCX SILVER
46655.00 -0.23
MCX GOLD
30,120.00 -40.00
MCX CRUDE OIL
6408.00 0.22
Dow Jones Industrial
Average
16,395.88 227.85
Nasdaq Composite
4351.97 74.67
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