A lower effective Corporate Tax rate at 30 per cent, from the current 33 per cent, is seen as a welcome step, though the draft DTC had proposed an even lower 25 per cent corporate tax rate.
Also, the change in Minimum Alternative Tax (MAT) to 20 per cent of book profits, lower from the proposed 25 per cent, has found favour with the industry. This is because in its current form MAT with the addition of surcharge and cess, anyway adds up to 19.33 per cent.
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The amount of U.S. auto loans at least 60 days past due tumbled in the second quarter by the biggest amount in nine years, said consumer ratings agency TransUnion, a week after it said credit-card delinquencies slumped as well in further sings of the U.S. consumer's balance sheet improving.Email Newsletters and Alerts The latest news and analysis delivered to your in-box. Check the boxes below to sign up.
Rajkot auto components industry, which has about 70 per cent share in the Indian auto parts industry, seems to be on an expansion mode buoyed by more than anticipated demand. Rajkot, which has about 1000 small and medium units, is witnessing an increase in their production capacity to cater to the huge demand this year.
As per industry sources, the orders have increased by 35-40 percent this year and to fulfill the requirement, companies are investing in capacity expansions.
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“Expansion is a must for the auto industry at this time as the demands are very high and it poses a great opportunity for us. The industry may attract about Rs 1000 crore investments during the next two years, especially from the medium scale units,” said RK Jain, President, Vikram Valves Company, which manufactures high technology valves for automotives, generator sets, stationary and marine engines.lot of a mall located on M G Road, purportedly on the orders of the deputy commissioner V Ponnuraj did not come as a surprise to the DC, who was chairing the meeting of regional transport authority here on Saturday.
Auto rickshaw drivers informed the DC that the owners of the mall through their security guards were not allowing the auto rickshaws to operate from the authorised auto rickshaw park. "The guards informed us that this park has been derecognised on the orders of the deputy commissioner," Mohan Shetty informed the DC, who observed that so many things go on with or without his notice and that he could not keep tabs on everything.
The mall owners have used the defunct auto rickshaw park as parking lot for two-wheelers and around six to seven auto rickshaws that operated from there earlier had no official park to operate from. The DC however assured the auto rickshaw drivers that this auto rickshaw park adjacent to the lane leading in to residential area would be restored and added that he had issued no such order cancelling the auto rickshaw park there.
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Rs 2 in Mangalore city. The minimum fare for the first 1.5-km will henceforth by Rs 15 and the fare for every kilometre thereafter Rs 11. Hitherto, the fares were Rs 13 and Rs 9 respectively. The revised fares, chairman of RTA and deputy commissioner V Ponnuraj said would come into force from September 10.
Chairing a meeting of RTA convened explicitly to discuss demands by various auto rickshaw unions for hike in auto rickshaw fares, DC also announced a revised waiting charge system. There would be no waiting charge for the first 15 minutes. Passengers hiring auto rickshaws to areas that do not have auto rickshaw parks would have to pay 25 per cent of one-way auto fare for waiting period of maximum of up to 45 minutes.
Passengers hiring auto rickshaws for minimum distance would not get the luxury of waiting period, except for certain exceptional cases where they may have to pick up some thing enroute. Ponnuraj clarified that the secretary, RTA would issue rate conversion cards to auto rickshaw drivers based on which they would collect fares from commuters up to September 30 and would have to charge as per the auto fare meter from October 1.
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