2. GAMES TO SEE LOWER NUMBER OF FOREIGN TOURIST Common wealth games, with a less than a month to go, government statistic show that the foreign tourist arrives in the india in august have declined to 3.82 lakh compared with 4.52 in july this year. Melbourne had witnessed 90,000 foreign tourist when they hosted the games. India had all expected the same but it was very less than the expectation.
3. The cities hotels are also feeling dampened by the booking & might have to slash room rates substantially The sector analyst said their will huge loss to the city by lesser international tourist.
4. HC SAY VODAFONE MUST PAY TAX FOR HUTCH BUY Bombay high court dismiss Vodafone a international plea challenging the IT department Rs. 12000 crore demand in the tax & penalty on dollar 11 billion takeover of Hutchison telecom. Indian colgamerate Essar holds about 33% stake in Vodafone India.
5. The I-T department held that Vodafone liable for not deducting tax at source from payment made to Hutchison & claimed around Rs. 12000 crore in tax & penalty on the deal. I-T department can ask a foreign company to pay tax in India if it takes over another foreign entity that owns an Indian subsidiary & particularly , if the deal made outside the India.
6. AXIS BANK TO LAUNCHES REMITTANCE SERVICE AXIS bank has launched Instant Money Transfer Service, which enable funds transfer even if the beneficiary does not maintain a bank account. Migrant population employed in the unorganized segment in urban area as well as students will the target group for this service.
7. Profitability of 3g spectrum under a cloud Major telecom operators in the country prepare to roll out the 3G services, but there is a big question mark over the profitability of these service by these operators. Nine telecom have spent together spent Rs. 65000 crore to get spectrum across telecom circles.
8. The analysts point out that the lack of significant user base for high price, value added services can prove to be a major impediment for operators to cross over the profit margin area. Market watcher point out that there are just about 20% high value user of over 650 million mobile subscriber in India.
