« Top Headlines » Open DEMAT Account in 24 hrs  ITR Filing: 6 Ways to Get Exemption on Income Tax  Income Tax Return Filing: 10 Mistakes To Avoid When Filing ITR For AY 2024-25  Old vs New Tax Regime: Who should move to the New Tax Regime from the old one?  Income Tax Calculator FY 2023-24: How To Know Your Tax Liability Online On IT Dept's Portal?  BackBack Income Tax Act amendment on cards on tax treatment of MSME dues  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing. Check details here  Income tax slabs FY 2024-25: Experts share these 8 benefits for taxpayers in new income tax regime  How To File ITR Online - Step by Step Guide to Efile Income Tax Return, FY 2023-24 (AY 2024-25)  Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning  What Are 5 Heads Of Income Tax?  Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals «  Maharashtra to look into ST on petrol, diesel... Is MAT liability subject to advance tax?... » Mobile players back move to revoke Press Note 5 September, 27th 2006 Ready to accept FDI cap at earlier 49 pc Cellular operators on Tuesday said that they were willing to go back to the old regime with the cap on foreign direct investment (FDI) in telecom companies at 49 per cent if the Government was not able to find an equitable solution that was acceptable to all. Speaking to Business Line, Mr T.V. Ramachandran, Director General, Cellular Operator's Association of India, said, "Everyone seems to be having an issue ever since the Press Note 5 was issued in November. If these issues cannot be resolved amicably, then it would be better to go back to the previous regime where there was no concerns relating to security or foreigners heading a telecom company." Bharti Airtel, the country's largest cellular operator, said in a statement, "Given that there are serious differences on the implementation of the conditions provided under Press Note 5, Bharti Airtel would like to appeal to the Government to have a quick and equitable resolution to the issue keeping in consideration the necessity for having a level-playing field amongst all the industry players. In the event such attempts fail, a suspension or revocation of Press Note 5 may be the best option." Bharti also clarified that its FDI component in the operating company is within the limit of 49 per cent. In November 2005, the Government had issued Press Note 5, which allowed telecom operators to increase FDI up to 74 per cent. The Government also added various riders including the clause, which prohibited foreigners from heading any telecom company. There were other stipulations related to security, which was included in the guidelines. W hile the Department of Telecom proposed to relax some of these norms as per the requests made by the operators, other Ministries, including the Home Ministry, raised many objections. Even the Prime Minister's Office expressed reservations in agreeing to the proposed changes made by the DoT, which prompted the latter to suggest complete suspension of the Press Note 5. The deadline for implementing the guidelines stipulated in the Press Note has been pushed twice and the new date is set for October 2. The Cabinet is expected to take up this issue this week to decide on the fate of the controversial policy. Thomas K. Thomas