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: cpt :: VAT RATES :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: empanelment :: due date for vat payment :: TDS :: Central Excise rule to resale the machines to a new company :: VAT Audit
 
 
« Auditing »
 Time Limit For Completion Of Assessment From The Date Of Special Auditor’s Report Under Income Tax Act, 1961
 Provisioning pertaining to Fraud Accounts
 Tax Audit Report (TAR) Certain exceptions and increased limits according to number of partners and considering nature of activity are desirable
 Cost Auditing Standards [ Cost Audit Documentation (102)] – Part-II
 Conference on Companies Act gets under way
 New bureau to dissolve state-run banks' power to choose auditors
 Foreign Exchange Management (Permissible Capital Account Transactions) (Fourth Amendment) Regulations, 2015
 ICAI forms 'prima facie' view on NSEL auditor
 Firms appoint new auditors in shift to meet new standards
 Cadre restructuring in I-T dept may open scrutiny of closed cases
 RBI issues new guidelines on concurrent auditing at branches

Sibal bats for spectrum audit, change in merger rules
April, 12th 2011

Communications and IT Minister Kapil Sibal Monday unveiled the broad framework of a new telecom policy which would usher in reforms such as audit of spectrum usage, de-linking of spectrum allocation and licences, and change of merger and acquisition guidelines, among others.

"We want regular audit and review of usage of spectrum by various agencies. We feel this is required. Which agency, whether it is going to be the CAG (Comptroller and Auditor General of India) or the TRAI ( Telecom Regulatory Authority of India )), we have not decided yet," Sibal told reporters here.

"All future licences should be unified licences and spectrum should be de-linked from licences," he added while presenting the 100-day report on the progress of various measures announced at the beginning of the year.

The minister said that a uniform licence fee across all service areas was needed, and added that the quantum of fee would be decided in due course.

Existing roll-out obligations too will be modified as the department of telecom was finding it difficult to monitor the same, he pointed out.

The terms for renewing licences will also be changed in the new policy.

Companies seeking to renew their licences will have to apply 30 months before the current one expires "so that there is enough time for us to deal with the applications, enough time for the licencee also to know what he is in for", Sibal said.

The licences will be renewed after 10 years, not 20 years.

Sibal, who took over from the scam-tainted A. Raja last November after the latter was forced to quit over irregularities in the allocation of 2G spectrum, had announced Jan 1 the overhaul of the existing telecom policies and promised a progress report on it in 100 days.

The minister Monday also announced the constitution of a committee, under the chairmanship of retired Supreme Court judge Shivraj Patil, to draft a "spectrum act".

Patil had, earlier this year, submitted a report to the government on procedural lapses in the allocation of 2G spectrum 2001-09.

The minister said the guidelines for mergers and acquisitions needed to be changed to meet the needs of a dynamic sector like telecom.

"Mergers and acquisition guidelines need to be liberalised. The number of competitors (post merger or acquisition) should not be allowed to fall below six," said Sibal.

Talking of information technology, the minister said a committe would be set up to finalise a national broadband plan and another to devise ways of attracting investment towards setting up of a semiconductor wafer fabrication unit.

The broadband committee will be headed by chairman of the Knowledge Commission and advisor to the prime minister Sam Pitroda and co-chaired by Nandan Nilekani , chairman of Unique Identification Authority of India (UIDAI).

Some of the key changes in the new telecom policy are:

Four categories of licences to be put in place - unified licences, class licences, licensing through authorisation and broadcasting licences.

Two levels of unified licences, at the national level and at the service area level.

Spectrum sharing to be controlled and permitted only under certain conditions.

Drafting committee to finalise a national spectrum act, which will deal with issues like allocation, and will be headed by Justice (retd) Shivraj Patil.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

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