Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: articles on VAT and GST in India :: due date for vat payment :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: cpt :: Central Excise rule to resale the machines to a new company :: TDS :: VAT Audit
 
 
General »
 Alarm bells over return of tax inspector raj
 Shah gets notices over civic tax dues
 Tax revenue down in first six months after prohibition
 Post demonetisation, Income Tax department sends 30 cases of irregularities to Enforcement Directorate, CBI
 Don’t rush into a new tax without being prepared
 Can’t tax income from palace rent: Supreme Court
  Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- (Updated as on November 30, 2016)
 Cases for tax scrutiny will be selected by machines
 Time to revisit 1997 direct tax rates, says P Chidambaram
 Lok Sabha passes Bill to tax black money deposits post demonetisation
 Last day to pay property tax with old notes

Spectrum of ISRO deal cost country Rs 2L Crore
February, 08th 2011

The opposition on Monday received fresh ammunition against the government, a day before an all-party meeting called to ensure that the Budget session runs smoothly.

A reported deal between ISRO (Indian Space Research Organization) and a private firm for allocation of scarce spectrum, which media reports claim could cost the exchequer more than the 2G scam, has provided further grist to the opposition mill.

BJP and the Left parties demanded immediate scrapping of the allocation, a clarification from Prime Minister Manmohan Singh and a thorough probe into the reported deal between Antrix Corporation with Devas Multimedia Private Ltd , which allegedly confers unbridled use of 70MHz of scarce S-band spectrum over a 20 year-period. Antrix is ISRO's commercial arm.

Reports claimed that preliminary estimates by the Comptroller and Auditor General (CAG) has placed the loss to the exchequer on account of the deal at Rs 2 lakh crore.

In a statement, the CAG said its attention was drawn to media reports regarding audit being undertaken by Audit and Accounts Department of the department of space (DoS).

"The news item gives the impression as if our audit has been finalized. This office clarifies that audit of certain activities of DoS is under way. Very preliminary queries have been raised which are yet to be replied by that department.

Since the audit is at very preliminary stage, it can by no stretch of imagination be concluded that information as given in the media reports are findings of this department," the CAG statement said.

Since the department of space is directly under the PM, he should immediately clarify his stand on the issue, BJP spokeswoman Nirmala Sitharaman said. "We demand a comprehensive inquiry to establish the criminality in the whole matter. We demand recovery of the lost revenue," she added.

The Congress refused to comment on the merit of the case saying it was for Parliament's Public Accounts Committee to examine any matter that caused a loss to the exchequer. "There is a standard procedure. Whenever the CAG finds something that causes loss to the government, it automatically goes to the PAC. I hope this matter also goes to the PAC ," Congress spokesman Shakeel Ahmed said.

The Left parties said the allegation was serious and demanded thorough enquiry into the "new scam". "This is a new issue. The Indian Space Research Organisation is under the department of space which is under the PM. This is also a new scam," CPM leader Sitaram Yechury said.

CPI's D Raja said Left would discuss the scam and might demand its inclusion in the terms of Joint Parlimentary Committee that the opposition is demanding for 2G scam.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions